ImpactAlpha, October 14 – Solar is “some of the lowest cost electricity ever seen,” according to the International Energy Agency. While costs have fallen sharply, the efficiency of solar panels improved only incrementally.
SunDensity claims its “smart coating” can increase efficiency by as much as 20%. The panel coating enables the panels to convert high-frequency blue light into energy along with the low-frequency red light converted by ordinary panels.
Clean Energy Ventures’ Temple Fennell called SunDensity’s technology “a critical step-function increase in solar panel efficiency.” The early-stage investment firm led SunDensity’s $2.5 million seed round. Luminate, Rochester Angel Network, LaunchNY and Clean Energy Venture Group also participated.
Other startups boosting efficiency include India’s Nocca Robotics, which is making solar-panel cleaning robots to boost panel performance. U.K.-based Oxford PV is developing high-efficiency solar panels. mPower Technology is making “micro” solar cells. Estonia’s Sunstone designs interlocking panels that can be built into a property. Sweden’s Exeger has developed flexible “solar” cells that can draw power from ambient light.