SAN JOSE, Calif., Feb. 25, 2013 /PRNewswire/ -- Silicon Valley-based solar energy company Solar Junction, a developer of high efficiency multi-junction solar energy cells for the concentrated photovoltaic (CPV) market, has signed a co-development agreement with Amonix, a leading designer and manufacturer of utility-scale CPV solar power systems.
"This agreement solidifies a new partnership between two advanced technology leaders in CPV," said Pat McCullough, Chief Executive Officer at Amonix. "It's our goal, by combining our world record module technology with Solar Junction's world record solar cell, that we can increase efficiencies while driving CPV costs down. The results of this collaboration, and its lower levelized cost of electricity (LCOE), will be revealed soon."
In October 2012, Solar Junction surpassed its own world record, achieving 44% efficiency at a concentration of 942 suns.
Amonix secured the world record for a CPV module in May of 2012, by converting over one-third (33.5%) of the energy of direct sunlight into electricity. This record is internationally recognized as the gold standard for solar power efficiency. Together, these benchmarks for high concentration photovoltaics confirm these companies have a roadmap to reach the forecasted 30% cost reduction compared to photovoltaic (PV)1 The National Renewable Energy Laboratory (NREL) verified both records.
Solar Junction's new record continues to demonstrate the value of its A-SLAM™ materials, which uniquely provide CPV system manufacturers the foundation to deliver the most efficient conversion of solar to electrical energy. CPV panels work by concentrating sunlight onto small multi-junction cells, which Solar Junction manufactures at its North San Jose facility.
About Solar Junction
Solar Junction is a manufacturer of high efficiency III-V multi-junction solar cells based on A-SLAM™ materials. The company is dedicated to providing the industry's highest efficiency solar cells to enable CPV as a cost effective energy solution. Founded in 2007, Solar Junction is headquartered in San Jose, California. Investors include New Enterprise Associates, Draper Fisher Jurvetson, Advanced Technology Ventures, and IQE. For more information, please visit http://www.sj-solar.com
Amonix is the recognized leader in designing and manufacturing concentrator photovoltaic (CPV) solar power systems that require no water in power production, use land better, and produce more energy per acre than any other solar technology. With the longest track record of real-world CPV deployments in the industry, Amonix is proven to be the best choice for solar power systems in sunny and dry climates. Amonix is headquartered in Seal Beach, California. For more information, visit http://www.amonix.com.
1 PV Market Research, Report: Concentrated PV (CPV) – World 2012, 20, September 2012
SOURCE Solar Junction