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The most cost efficient electrical power (discounting subsidies and the damaging effects of pollution) is coal burning electrical generation which accounts for nearly half of all electrical production globally. Residential utility electric is currently hovering around $0.10/kWh in the U.S. Solar electricity costs on an industrial scale are $0.15/kWh or nearly double that of coal burning electrical delivery. Residential installations are even higher averaging $0.29/kWh (Solarbuzz.com/solarprices.htm). Until the cost per kilowatt hour rate of utility solar electricity can reach par with coal-burning facilities there is little incentive for the global energy mix to change. Despite its negative connotations, coal and natural gas are still in large abundance and can sustain our current mix for another 30 – 50 years.
Quantum Solar Power Corporation has developed a ground-breaking new solar technology called NGD™ or Next Generation Device™. This photovoltaic technology promises to deliver for the first time power costs that are competitive with and potentially even less expensive than coal-burning electricity. NGD™ is a patent-pending technology that could deliver kilowatt-hour pricing in the range of $0.10/kWh, equal to the current $0.10/kWh of coal. Since the 1950ʼs the holy grail of solar technology has been to produce a product that is truly competitive with the mainstay of the industry; coal, natural gas, oil and nuclear power plants. Quantum is now on the verge of delivering just such a technology.
The Quantum NGD™ technology solves two other limiting factors preventing the rise of solar power as a viable energy alternative. These limiting factors are efficiency and scalability. Although silicon is in great abundance and extremely inexpensive, the purity required to make monocrystalline silicon PV (the most efficient form) requires costly manufacturing procedures. Despite the fact many manufacturers have moved to polycrystalline structures for their solar PV devices, the demand for these modules has outstripped supply. Silicon components are used in thousands of different semiconductor applications and is therefore not unique to the solar industry causing another pricing challenge. The lowest retail price (solarbuzz) for monocrystalline silicon PV modules is $1.28 ($/Wp) with multicrystalline silicon at $1.14 ($/Wp) and thin-film at $1.18 ($/Wp).
Alternatively, the fastest growing solar PV sector thin film PV, relies on the use rare elements in their manufacture, such as cadmium telluride and copper indium (gallium) diselenide. These rare earth elements will prevent thin film from ever achieving terawattscale power distribution1 due to their lack of abundance on Earth. Even the lower cost of thin film at $0.75/watt per module (First Solar) does not make up for their lack of efficiencies. The highest efficiency of a commercially produced thin film solar module (October 2011) is 15.8% PCE. Even theoretical lab results have achieved little more than 20% PCE to date. Despite the rapid growth of the thin film market, these lower efficiencies in combination with limited resources mean it will be nearly impossible for current thin film to achieve a competitive advantage over coal.
Quantum is poised to revolutionize the global energy industry with its NGD™ technology. Quantum Solar Powerʼs NGD™ technology is a patent-pending solution to our global energy needs. NGD™ promises minimum efficiencies of 20% PCE matching the most efficient commercial silicon PV and the theoretical limits of thin film. This combination makes NGD™ cost per kWh of only $0.10 as compared with todayʼs current average of $0.15/kWh. Finally, NGD™ technology is free of rare, toxic elements that prevent other solar technologies from reaching global deployment.
1Material considerations for terawatt level deployment of photovoltaics, Andrea Feltrin and Alex Freundlich, August 2007