Solar3D, Inc. the developer of a breakthrough 3-dimensional solar cell technology to maximize the conversion of sunlight into electricity, recently announced that Jim Nelson, the company’s CEO, has been invited to testify before the House Committee on Oversight and Government Reform in a hearing that will be held on Wednesday, May 16.The Committee’s interest is in learning more about the impact of the government’s loan guarantee program, as contrasted with Solar3Ds success in financing the development of its technology with private investment.
“This is a great opportunity to tell our story and to discuss what we think is important in government management of renewable energy development,” said Nelson.Inspired by light management techniques used in fiber optic devices, the company’s innovative solar cell technology utilizes a 3-dimensional design to trap sunlight inside micro-photovoltaic structures where photons bounce around until they are converted into electrons. Solar3D’s management believes that this breakthrough solar cell design can produce 200% the power output of current silicon solar cells.
The company’s analysis indicates that a typical 17% efficient solar cell performs more like a 5% efficient cell when light is shining 20 degrees from the side, such as during the morning or evening hours. Due to an innovative wide-angle light collection feature, the company estimates that its Solar3D cell can maintain a high 25% efficiency for a longer period of time, over the course of a day and year. This translates into 200% more power than conventional solar cells and a system payback period that is approximately half the time of the current solar technologies.