Solar power concentrator. Photo copyright SHEC Energy website
Imagine solar power that doesn’t cost an arm and a leg.
After years of lab research on renewable energy, Saskatoon based SHEC Energy Corporation has developed what they’re calling a breakthrough in technology.
“This might sound like a cliché but you know it think this is kind of like one of those things where something comes around once in a lifetime that has the potential to change the world,” said Tom Beck, CEO SHEC Energy Corporation.
It’s called Ultra Lite technology which concentrates sunlight with a reflector to produce heat, in turn powering a turbine.
“We can actually concentrate that sunlight to power what’s called multi-junction photocells to produce power,” said Beck.
“The breakthrough that we have done is we’ve done a cost reduction on the order of 75 percent over industry which makes this as cheap as conventional power.”
Beck said this breakthrough puts the company in a position to not only compete against other solar companies but against conventional power sources.
Having a competitive price also means the new technology could be an affordable option for governments looking to for environmentally friendly energy without paying expensive premiums.
Beck said this technology could generate power and heat for anything from a farm or acreage, to villages in developing countries, to a city the size of New York.
“In reality we might be reducing fuel consumption, depending on the area of the world and how sunny it is, by say 95 per cent,” Said beck.
Virtually pollution free, Ultra Lite technology uses heat energy produced during the day to keep the turbine running throughout the night.
“The only time we would use fossil fuel is as a backup is if we had a long period of cloud cover where our solar energy storage depleted, then we could use the backup fuel,” said Beck.
He said SHEC Energy Corporation plans to announce the new technology to the world in about a month.