Concentrated Solar Tech Receives Major Backing from Investors

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U.S. investors have invested $129.4 million in a promising solar technology that uses plastic lenses to concentrate sunlight onto small but highly efficient solar cells.

The so-called multijunction cells, developed by California-based Amonix, generate more electricity than conventional photovoltaic panels and require fewer costly semiconducting materials, such as silicon.

The company has successfully tested the technology at small solar farms in Spain and the United States.While numerous companies are trying to capitalize on the growing solar market — and the desire for utilities to meet renewable energy targets — analysts say concentrated photovoltaic technology has a possible edge over other solar technologies because it is more efficient and requires less land for utility-scale projects.

Article appearing courtesy Yale Environment 360.

photo: Eleaf

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Yale Environment 360 is an online magazine offering opinion, analysis, reporting and debate on global environmental issues. We feature original articles by scientists, journalists, environmentalists, academics, policy makers, and business people, as well as multimedia content and a daily digest of major environmental news. Yale Environment 360 is published by the Yale School of Forestry & Environmental Studies and Yale University. We are funded in part by the Gordon and Betty Moore Foundation and by the John D. and Catherine T. MacArthur Foundation. The opinions and views expressed in Yale Environment 360 are those of the authors and not of the Yale School of Forestry & Environmental Studies or of Yale University.