GreenVolts Wins PIER Grant for Low Cost Installation of Concentrating Photovoltaic Proposal
GreenVolts Technology and Wholesale Distributed Generation Solution Earns Top Ranking in Competitive Grant Program From California Energy Commission
SAN FRANCISCO, CA--(Marketwire - October 20, 2008) - GreenVolts (www.greenvolts.com), a leader
in concentrating photovoltaic (CPV) technology, today announced that it was
the recipient of a $250,000 grant from the California Energy Commission's
Public Interest Energy Research (PIER) Program. GreenVolts' proposal,
entitled Low Cost Installation of Concentrating Photovoltaic, was rated
highest among all applicants to this highly competitive grant program.
"This PIER grant is continued validation of our technology and our approach
to the marketplace," said Bob Cart, founder and CEO of GreenVolts. "As
evidenced by our GV1 project, we are leading the way towards making the sun
a reliable, everyday source of energy through the use of next-generation,
high-efficiency CPV technology."
Currently under construction in Northern California, GV1 is a two-megawatt
project that will be completed in 2009 as part of an agreement with Pacific
Gas & Electric. GV1 will be a further demonstration of GreenVolts' ability
to install low cost CPV technology that can eventually help produce the
world's lowest cost solar energy on a massive scale.
"California is dedicated to investing in clean, renewable technology.
GreenVolts is demonstrating that smart, reliable solar projects can help
the state reach its goals of generating 33 percent of our electricity from
renewable sources and reducing our greenhouse gas emissions by 2020," said
Energy Commission Chairman Jackalyne Pfannenstiel.
GreenVolts' proposal was selected as part of the PIER Renewables Solar PV
RD&D Grant Solicitation. The California Energy Commission's Public Interest
Energy Research Program supports energy research, development and
demonstration (RD&D) projects that will help improve the quality of life in
California by bringing environmentally safe, affordable and reliable energy
services and products to the marketplace.
Each submitted proposal was screened and reviewed by California Energy
Commission staff. The proposals were further examined by independent
technical reviewers that are experts in the field. Finally, the Energy
Commission's Technical Advisory Committee reviewed, evaluated and scored
applications according to its published criteria. GreenVolts was ranked
number one as a result of this process.
GreenVolts was previously awarded a PIER grant for research and development
on its two-axis CarouSol tracker for concentrated photovoltaic power
plants. The company completed its work as part of that proposal in advance
of its second grant proposal.
GreenVolts is a utility-scale solar technology company focused on
delivering wholesale-distributed generation solutions that can produce the
world's lowest cost solar energy on a massive scale. The company has
developed state-of-the-art concentrating photovoltaic technology that
achieves unparalleled solar-to-electricity conversion efficiency through an
innovative integration of optics and solar tracking.
Like central station power plants, GreenVolts' technology is a complete
power plant designed for delivering the lowest levelized cost of energy;
yet GreenVolts' power plants are sited close to loads, increasing
efficiency and further reducing cost.
For more information about the PIER Program, please visit
GreenVolts, Inc., based in San Francisco, was founded in 2005 to deliver
solar power at costs competitive with that derived from fossil fuels. The
company's breakthrough concentrating photovoltaic technology efficiently
integrates tracking and optics into a system that dramatically lowers
energy cost. In addition, the low-profile tracker design minimizes issues
associated with wind loading and eliminates the need for concrete supports
to allow for rapid deployment. Through low cost, high efficiency systems,
the company can access large markets previously inaccessible to solar.
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