What’s the next big technology in solar energy? Siemens is banking on high concentrating photovoltaics (HCPV), which uses lenses to focus sunlight onto small, ultra-efficient solar cells.
Seeing a bright future in the alternative to conventional photovoltaics, Siemens has taken a 16-percent minority stake in the HCPV company Semprius, based in Durham, North Carolina. According to Siemens, the investment gives it “early access to a highly promising technology for CO2-free power generation from solar energy.”
Details of the investment were not disclosed.
“Participating in Semprius provides us access to trailblazing technology for clean power generation,” says Martin Schulz, vice president of photovoltaics in the renewable energy division of Siemens Energy. “We believe the prospects are bright for high concentrating photovoltaic systems that enable significantly higher efficiencies than conventional PV modules, and at the same time, offer enormous potential to achieve competitive levelized costs of electricity.”