Innovative, new solar technology that significantly minimizes the cost of the solar field while exponentially increasing the efficiency of solar thermal energy storage has materialized in the form of SHEC Energy’s proprietary Concentrated Solar Power system.
Solar power as a reliable, cost-competitive source of renewable energy has crossed over from fantasy to imminent reality as SHEC Energy’s lab findings show the tangible reduction of the cost of solar power by about 75% over existing solar systems, placing it on level ground with the lowest-cost fossil fuels.
The new solar technology has successfully overcome two traditional barriers to widespread adoption of solar technology – high capital costs and intermittency. In contrast to conventional photovoltaic (PV) systems that convert light to electricity, concentrating solar power systems (CSP) similar to the one used by SHEC Energy, produce power by concentrating sunlight to generate high temperature heat. This heat is then used to boil water to produce steam to propel a turbine connected to a generator that produces electricity.
The technology can also be applied in amplified photovoltaics in smaller scale deployments. There is also potential for application in industrial, village and acreage scale systems for power and heat.
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