Silex Systems (ASX: SLX) has received a $2 million grant to support the company’s development of solar cell technology which could reduce energy production costs by up to 20%.
The grant from the Australian Solar Institute is for the development of high efficiency multi-junction solar cells on low cost large area silicon substrates.
This program, by Silex’s wholly owned subsidiary Solar Systems, has the potential to reduce the cost of energy production from Concentrating Photovoltaic technologies by up to 20%.
Solar Systems will supplement the $2 million grant by providing about $3 million in project funding, with $2 million of in-kind support and $1 million in cash contributions over the three year project duration.
Project partner and Silex subsidiary Translucent will provide large area silicon substrate technology for the project, allowing for commercialisation of the technology to be fast tracked.
In addition, Solar Systems plans to partner with three key CPV cell suppliers, Boeing-owned Spectrolab, Emcore Corporation and IQE plc, for multi-junction cell production facilities.
These partnerships will allow for volume production of the solar cells, which will be incorporated into Solar Systems’ dense array system to characterise the performance of the new CPV modules at the Bridgewater Test Facility in central Victoria.