A New Leader: Spire Produces World's Most Efficient Concentrated Photovoltaic Solar Cell
Spire Corporation (Nasdaq: SPIR) has created the most efficient concentrated photovoltaic (CPV) solar cell the world has ever seen.
With a peak efficiency rate of 42.3%, the gallium arsenide cell supplants Sharp's record of 42.1%. The gallium arsenide cell was developed in less than 18 months and is now available to commercial systems providers.
CPV is one of the newest forms of solar technology. CPV works by concentrating a large amount of sunlight onto a small photovoltaic surface. Unlike traditional photovoltaic solar panels, CPV modules are not flat. Additionally, concentrated photovoltaic cells are less expensive to produce than traditional photovoltaic modules because the actual solar panel is smaller.
Roger G. Little, Chairman and CEO of Spire Corporation, said, "The availability of this new high-efficiency cell will advance next-generation CPV system performance and reduce system cost for manufacturers, helping to move solar energy ever closer to the goal of grid parity."
Read the full story at Spire Corporation: Spire Semiconductor produces a world-record 42.3% efficiency CPV cell
Image credit: Solar Seeds
Learn more about solar power on eBoom's Solar Energy Learning page.
Nathanael Baker is the Managing Editor of EnergyBoom. He has researched and reported on the issues of renewable energy, sustainability, and climate change for over two years. He has provided research to the New York Times and The Economist, as well as being published on different media outlets including, The Energy Collective.
Energy Boom content is for informational purposes only and is not intended to be advice regarding the investment merits of, or a recommendation regarding the purchase or sale of, any security identified on, or linked through, this site.
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