Global Leader in International Renewable Industry News

posted in:

BioSolar - www.youroilandgasnews.com

BioSolar to benefit from expected solar surge

Thursday, Jan 24, 2013

BioSolar, Inc. (OTC: BSRC), developer of breakthrough products and materials that reduce the cost of photovoltaic (PV) solar modules, today announced that it expects to benefit from the surge in demand for solar energy.

“The energy market is by far the largest market in the world and solar is the fastest growing segment of the energy market”

A report recently released by the Institute for Local Self-Reliance, forecasts that within a decade, more than 35 million buildings may be generating their own solar electricity (without subsidies) at prices lower than their utility offers, sufficient to power almost 10% of the country.

Dr. David Lee, the company’s CEO, commented, “The solar industry has been through a very tough year; however, the future is very bright for the survivors. We expect to see a very powerful surge in demand for solar energy. In addition to demand for distributed systems for individual buildings, we are seeing tremendous growth with public utilities. Big investors, such as Warren Buffet are now entering the market.”

MidAmerican Energy Holdings Company (backed by Warren Buffett's Berkshire Hathaway Inc.) is buying two co-located solar projects in California, billed as the world's largest permitted solar PV power development. The transaction for Antelope Valley Solar Projects, totaling approximately 579 megawatts of combined generation capacity, is for an unspecified amount between $2 and $2.5 billion.

“The energy market is by far the largest market in the world and solar is the fastest growing segment of the energy market,” continued Dr. Lee. “Solar is expected to grow by 15% annually, which should make solar panels at least 25 times more ubiquitous by 2040. The demand for electricity is nearly insatiable. The U.S. is by far the world's greatest user of energy per capita in the world. Each American uses about 87,000 kilowatt-hours per year – that is twice as much as the European Union, the next closest consumer. Also, we expect to see increased demand for electricity from China and India and these will be very strong markets for solar.”

Dr. Lee concluded, “BioSolar is very well positioned to benefit from this surge in demand for solar. Our patent pending BioBacksheet is the world’s first UL certified solar panel backsheet made from renewable materials and features two distinct benefits that are unmatched by existing backsheets. First, BioBacksheet’s high thermal conductivity rapidly draws heat away from the solar cells, which can increase the power output of the entire solar panel. Second, BioBacksheet’s USDA BioPreferred Certification allows solar panels to be marketed as more sustainable and socially responsible, and preferred by U.S. government agencies.”

Source: Business Wire

posted in:

Other Renewable News

Trina Solar announces grid connection for 23.8 MW PV projects in UK 18-04-2014
Hannon Armstrong ("HASI") and Sol Systems collaborate to deploy up to $100 million of debt financing for distributed solar project developers in 2014 18-04-2014
EasySolar announces the all-in-one solar power solution 17-04-2014
Three International wind power exhibitions to take place in Shanghai in July 2014 17-04-2014
Bharat Light & Power selects OSIsoft PI System to support renewable energy growth in India 17-04-2014
JinkoSolar successfully connects two solar PV projects totaling 39MW to the grid in Jiangsu Province 17-04-2014
Yingli Green Energy signs cooperation agreement with Sailing Capital to jointly form a one billion RMB renewable energy fund 17-04-2014
IBERDROLA INGENIERÍA in Russia to construct the 1,020 MW substation for the Votkinskaya hydropower station 17-04-2014
Silver Fox® labels exhibit excellent results in latest long-term UV tests 16-04-2014
Introducing Trinity, a portable wind turbine power station for charging USB devices 16-04-2014