SolarCity seeks to beat the grid by making its own panels. To speed up the process to lower the costs of solar power, SolarCity announced it acquired a startup company, Silevo, who developed improved efficiency silicon solar panels. By having the ability to both manufacture and install solar power systems, SolarCity can improve overall efficiencies in the installation of solar panel systems, thereby cutting costs with goal to make such systems on a cost equal to or less than traditional grid based power without having to rely on subsidies.
The path to ultimately having solar power way cheaper than coal or fracked gases is to combine huge economies of scale with the most advanced technologies,” — Elon Musk, Chairman, SolarCity
Higher solar panel efficiencies mean that businesses and city buildings can generate more power in a given limited space than is currently possible, thus saving even greater energy costs. With greater efficiencies and economies of scale, the company hopes to produce solar power at a cost per kilowatt-hour less than the current grid based costs.
The full story is posted on GreenBiz,com.
About the Author: Lauren Boitel
