Nanosolar’s Breakthrough - Solar Now Cheaper than Coal

Their mission: to deliver cost-efficient solar electricity.

The Nanosolar company was founded in 2002 and is working to build the world’s largest solar cell factory in California and the world’s largest panel-assembly factory in Germany. They have successfully created a solar coating that is the most cost-efficient solar energy source ever. Their PowerSheet cells contrast the current solar technology systems by reducing the cost of production from $3 a watt to a mere 30 cents per watt. This makes, for the first time in history, solar power cheaper than burning coal.

These coatings are as thin as a layer of paint and can transfer sunlight to power at amazing efficiency. Although the underlying technology has been around for years, Nanosolar has created the actual technology to manufacture and mass produce the solar sheets. The Nanosolar plant in San Jose, once in full production in 2008, will be capable of producing 430 megawatts per year. This is more than the combined total of every other solar manufacturer in the U.S.

Nanosolar, Inc. prides themselves on being the “Third Wave” of solar technology. The “First Wave” began over three decades ago with the introduction of silicon wafer based solar cells. This technology bore high material and production costs with poor capital efficiency. Silicon does not absorb light very well and therefore, the silicon wafers must be very thick. Also, the wafers are extremely fragile. Their need for intricate handling complicates processing all the way up to the final panel product.

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