Principal Solar Releases White Paper Comparing Role of Concentrated Solar Thermal & Photovoltaic Solar Technologies in Power ...
December 20 2012 - 10:07AM
Business Wire
Principal Solar, Inc (PSI; OTC Pink: PSWW), a
publicly traded solar energy holding company executing a unique
roll-up strategy to create the world's first distributed solar
utility, today announced the release of “Technological Niches:
Concentrated Solar Thermal vs. Photovoltaic Solar.” Authored by
Brett T. Gage, research associate PSI, and Rick Borry, Ph.D., chief
technology officer, PSI, the paper compares concentrated solar
thermal (CST) and photovoltaic (PV) solar technologies, exploring
how each succeeds or fails in relation to the electric power
generation marketplace.
“Solar electricity will be cost-competitive without subsidies
within three years,” says Michael Gorton, CEO, PSI. “This paper
explains the strengths and weaknesses of CST and PV technology at a
time when both are approaching grid-parity power prices in many
applications, making this a timely and highly relevant topic.”
The paper discusses the evolution of solar technology and
demonstrates how CST and PV solar technology each serve different
technological niches. As of 2012, PV has come to dominate all
smaller-scale solar electricity applications, while retaining the
majority market share even in commercial and utility-scale
applications.
Recently, the Department of Energy (DOE) announced $20 million
in new funding that will help integrate concentrating solar power
(CSP) systems with fossil fuel power plants. These hybrid systems
leverage the infrastructure of fossil fuel plants such as turbine
and transmission systems, helping to reduce the cost of
solar-generated electricity and bring CSP plants online quicker.
CSP retains a strong niche at the utility-scale and in combined
heat and power applications, where no amount of PV cost-reduction
is expected to overcome its inherent technology advantages.
“As energy independence and sustainability are becoming
formidable issues in the public eye, solar presents itself as a
primary solution and can increase its future market share simply by
participating in the growth of capacity -- rather than serving as a
replacement,” says Dr. Borry. “PV and CST complement each other to
meet new demands, and both will increase their share of the
electric power market as the world adds new capacity outside of the
traditional carbon combustion processes.”
About Principal Solar
Principal Solar, Inc (PSI; OTC Pink: PSWW), is a publicly traded
solar energy holding company executing a unique roll-up strategy to
create the world's first distributed solar utility. PSI
concentrates its resources on the acquisition, finance,
development and management of solar power companies. The Principal
Solar Institute, an educational organization created by Principal
Solar, Inc., is dedicated to spreading solar knowledge to the
critical stakeholders in the ongoing energy debate. Visit
www.PrincipalSolar.com.
Cautionary Statement Regarding Forward-Looking
Statements
Statements in this press release that are not statements of
historical or current fact constitute "forward-looking statements."
Such forward-looking statements involve known and unknown risks,
uncertainties and other unknown factors in the solar energy
generating industry (market risk, government regulation,
operational risks, etc.) that could cause the Company's actual
operating results to be materially different from any historical
results or from any future results expressed or implied by such
forward-looking statements. In addition to statements that
explicitly describe these risks and uncertainties, readers are
urged to consider statements that contain terms such as "believes,"
"belief," "expects," "expect," "intends," "intend," "anticipate,"
"anticipates," "plans," "plan," to be uncertain and
forward-looking. The Company does not assume a duty to update these
forward-looking statements, except as required by law.
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