Innovalight Chosen by DOE to Reduce Solar Power Production Costs

Innovalight, a supplier of silicon ink and solar cell process know-how, declared that it has been chosen by the U.S. Department of Energy (DOE)’s SunShot initiative, which is aimed to cut down the cost of solar power production by 75%.

The initiative will provide Innovalight a grant of $3.4 million to speedup the development and manufacture of silicon ink materials and procedures for developing efficient solar cells for deployment in Silicon Valley.

Innovalight produces silicon ink based on nanotechnology and licenses an in house procedure that enables an easy and simple up-gradation process in the solar cell production lines to improve the energy generating capabilities of the solar cells and to cut down the manufacturing costs. It has lately contracted supply accords with a number of solar cell producing companies all over the world.

The SunShot Initiative of the U.S. Department of Energy proposes to find out cost -effective methods to drastically cut down the solar power production costs at the residential, commercial and utility segments by 75% before the conclusion of the current decade. It is looking forward to making the cost of solar power production equal and comparable with that of traditional power production methods without granting any type of subsidies for solar power production to achieve widespread usage of solar power.