HyperSolar Supports White House Sun Shot Initiative to Reach Grid Parity
Company’s Technology Complements President Obama’s Renewable Energy Goals with a First-of-its-Kind Light Magnification Layer for Solar Cells
Santa Barbara, CA – February 08, 2011 – HyperSolar, Inc., the developer of a breakthrough technology that magnifies the power of the sun to significantly increase the power output of solar cells, today announced its support for President Barack Obama and Energy Secretary Dr. Steven Chu’s clean energy and innovation agenda.
“This is our Sputnik moment,” President Obama said, calling for the reinvention of energy policy in order to unleash a “wave of innovation” in his State of the Union address last month. He set a goal for 80 percent of the nation’s energy consumption to come from clean energy sources by 2035.
Secretary Chu expanded on Obama’s “Sputnik” theme suggesting that the United States follow in the footsteps of President John Kennedy’s “moon shot” idea, and push instead for a “sun shot” to make solar electricity cost-competitive with fossil sources by the end of the decade.
“We’re working in concert with the government’s renewable energy goals, especially the ‘Sun Shot’ initiative by offering solar panel manufacturers a way to cut costs,” said Tim Young, CEO, HyperSolar. “Our innovative photonics technology transfers light directly into a solar cell to increase the power output, allowing solar panel manufacturers to use fewer solar cells. This will ultimately slash the cost of manufacturing, driving down the cost per watt of solar electricity through the substantial reduction of silicon.”
About HyperSolar, Inc.
HyperSolar is developing a breakthrough technology that magnifies the power of the sun to significantly increase the power output of solar cells. Using innovative photonics and low-cost manufacturing processes, HyperSolar is developing the world's first thin and flat solar concentrator for standard solar cells. Applied on top of solar cells, the low-cost HyperSolar concentrator can increase solar cell power output by as much as 400%. By adding the HyperSolar concentrator, manufacturers can use significantly fewer solar cells in the production of solar panels and dramatically reduce the cost per watt of solar electricity. To learn more about HyperSolar, please visit our website at http://www.HyperSolar.com.
Date: Tuesday, February 08, 2011