ImpactAlpha, March 7 – There may be few opportunities left to reduce the cost of solar technology, which is already “the cheapest source of electricity in history,” according to the International Energy Agency. Tempe, Ariz.-based solar developer Erthos claims it has found a way: by installing solar panels directly on the ground.
Erthos claims its ground installations reduce solar development costs by up to 20% because the projects don’t require trackers or metal support structures and take up less space. It says it has mitigated most of the downsides of installing solar arrays directly on the ground, including cleaning, inspection and weather conditions, like rain, wind and snow.
Capricorn Investment Group led Erthos’ $17.5 million Series B round. Capricorn’s Ion Yadigaroglu said Erthos was possibly “the single largest contributor to decarbonization” that the firm will be involved with over the next decade.