Innovation Drives Market Growth in Competitive Solar Energy Segment
NetworkNewsWire Editorial Coverage
NEW YORK, April 13, 2017 /PRNewswire/ --
Since the downturn of gas prices in September 2014, focus on alternative energy has largely been placed on the backburner. This trend has reverberated across numerous industries. In the automotive market, for example, sales of hybrid electric vehicles in the United States have been on a steady decline since topping out in 2013, with the U.S. Department of Energy reporting a 28 percent decrease to under 385,000 units sold in 2015[(1)]. One segment that has been able to more successfully navigate this evolving market landscape, however, has been the solar energy sector. Driven by innovative market leaders such as SolarWindow Technologies, Inc. (OTC: WNDW) (WNDW Profile), Corning, Inc. (NYSE: GLW), Tesla, Inc. (NASDAQ: TSLA), Canadian Solar, Inc. (NASDAQ: CSIQ) and First Solar, Inc. (NASDAQ: FSLR), global solar power capacity continues to expand. Roughly two-thirds of worldwide solar capacity has been installed since January 2011, according to research by Green Tech Media[(2)].
Despite this expansion, the North American solar market still has plenty of room to grow. In the U.S. alone, there are roughly 5 million commercial structures that currently consume, approximately 40 percent of the nation's electricity. The vast majority of that power generation capacity is still linked to fossil-fueled power plants, leading to the creation of considerable greenhouse gas emissions. Combatting this environmental hazard remains a priority for global leaders, regardless of energy costs. For proof, look no further than Congress's 2015 decision to extend the solar tax credit at its current rate, which applies to both residential and commercial systems, through 2019[(3)].
With a sustainable market established, leading players in the solar power sector are now relying on cutting-edge technologies and groundbreaking ideas to grab market share. SolarWindow Technologies, Inc. (WNDW) is taking a new approach to power generation. While most standalone solar power installations on commercial structures are placed on rooftops, typical building footprints severely limit the number of photovoltaic (PV) units that can be installed in that fashion. Conversely, SolarWindow is developing a transparent, electricity-generating coating to be applied to standard window glass. In addition to providing significantly more space for PV cells on large commercial structures, the company's developmental product offers a lower threshold for sun than traditional solar panels, meaning that power generation could be possible with a much smaller input of sunlight.
SolarWindow's power model data puts this lower threshold into perspective. For a PV system installed on a 50-story building in Phoenix, Arizona, the company estimates that its first-of-their-kind electricity-generating windows could power an equivalent of 130 homes[(4)]. The next most efficient chemistry included in the study, amorphous silicon, could power the equivalent of just 11 homes, per company data. As for the environmental impact of SolarWindow's developmental system, the company estimates that a single installation could prevent the equivalent of 2.2 million miles of CO2 vehicle pollution, about 10-times more than a traditional solar power generation system.
The ongoing development of SolarWindow's advanced technology into tangible, marketable products is being driven by a diverse leadership team with experience spanning a full range of related sectors. The company's award-winning researchers and engineers have authored more than 1,000 scientific publications, and Dr. Alastair Livesey, one of SolarWindow's founding directors, specialized in the commercialization of new energy breakthroughs, at the world's largest producer of flexible solar panels as recently as 2012. Bolstered by the expertise of Kelly Provence, an Interstate Renewable Energy Council-certified commercial and PV design and installation guru, along with Dr. Christopher Harris, an intellectual property and technology licensing specialist, SolarWindow Technologies has a team in place to rapidly advance its developmental PV products from the design room to the production floor and beyond.
Another company that has capitalized on the surge in solar power installations is Corning, Inc. (NYSE: GLW), the manufacturer of specialty glasses and related products. Corning's forays into the solar space have come in multiple shapes and sizes. Recently, the international behemoth owned a 50-percent stake in Dow Corning, a joint-venture with The Dow Chemical Company, (DOW) focused on the manufacture of silicone products. These products are widely implemented in solar panel and PV applications due to their renowned UV stability and moisture resistance. Corning sold its position in Dow Corning to Dow Chemical for $4.8 billion and other considerations in December 2015. Perhaps one of the most well-known product innovations related to this joint-venture was Dow's solar shingle line, the Powerhouse Solar System 2.0. Similar to SolarWindow's inventive technology, Dow's Powerhouse system implemented building-integrated photovoltaics, which combine solar modules with construction materials. Unlike SolarWindow's developmental product, however, Dow's solar shingles generated electricity much less efficiently than stand-alone solar modules, leading to the company's discontinuation of the product line in July 2016 [(5)].
While Corning has made moves toward shrinking its presence in the solar power space in recent years, Tesla, Inc. (NASDAQ: TSLA) has spent the past couple of years increasing its footprint in the alternative energy market. On April 30, 2015, the electric car manufacturer introduced its groundbreaking Powerwall home battery system. In late 2016, Tesla pushed the envelope once again, when visionary CEO, Elon Musk, introduced not only a second generation Powerwall system, but the company's PV-integrated Solar Roof, which is set to hit the market later this year. Tesla's take on the building-integrated photovoltaic segment may seem familiar to followers of Dow Chemical, but Musk and his team, including the members who were brought over as part of the company's 2016 acquisition of SolarCity, have already hyped a few key differences that they expect will help Tesla's Solar Roof stand out from the competition. "First of all, I've never seen a solar roof that I would actually want; they're weird," Musk noted in a November 2016 conference call [(6)]. "Every one of them that I've seen is worse than a normal roof, without exception. So unless you're going to beat a roof on aesthetics, why bother?" Much like the design of SolarWindow's aesthetically-polished PV coating, Tesla's Solar Roof is expected to be both functionally superior to existing solar shingles and visually appealing.
SolarWindow and Tesla may be pushing the solar power industry toward the future with their design-stage offerings, but the sector is also populated with mainstays that are striving to capitalize on its sustained growth. Canadian Solar, Inc. (NASDAQ: CSIQ) is currently one of the world's largest solar power companies and a leading manufacturer of solar PV modules serving more than 90 countries around the globe. At the end of 2016, Canadian Solar boasted a module manufacturing capacity of 5.8 GW, but the company's recent financial performance has clocked in well below analyst targets. Investopedia attributed this slump to 'weak fundamentals and a technical breakdown,' among other factors [(7)]. Despite these struggles, Canadian Solar has continued to confirm its presence at the top of the competitive solar energy space in recent weeks. Earlier this month, the company announced its reception of $20 million in unsecured funding from the China and Portuguese-speaking Countries Cooperation and Development Fund, in support of the development of numerous eligible installations in Brazil. Additionally, Canadian Solar secured its first Power Purchase Agreements with the Solar Energy Corporation of India, a public sector undertaking of the Government of India, further expanding the company's presence on the global stage.
First Solar, Inc. (NASDAQ: FSLR) is another company capitalizing on a position at the top of the solar energy market. As a vertically integrated provider of comprehensive PV systems, with assets spanning the sourcing of raw materials, through to end-of-life module recycling, First Solar was named one of 'The World's Top 4 Alternative Energy Companies', in an article published by Investopedia earlier this month [(8)]. Just last year, First Solar made headlines when it announced a massive restructuring initiative that both, altered its product roadmap and accelerated the research and development of its highly-anticipated Series 6 module [(9)]. The move, which included the cancellation of its Series 5 modules, is expected to put First Solar in a challenging position throughout this year ahead of the anticipated 2018 launch. However, the proposed benefits of the company's Series 6 line, including a manufacturing cost that's about 40 percent less than the current Series 4 modules and conversion efficiencies in excess of 18 percent (as compared to 16.5 percent for Series 4), reiterate the importance of innovation to the future of the alternative energy market.
Investing in solar power may not be as attractive as it was a few years ago, but the work being done by industry innovators like SolarWindow Technologies, Tesla, and First Solar is setting the stage for a brighter tomorrow. According to the U.S. Energy Information Administration, solar power is on course to be the fastest-growing renewable energy source through 2018, with total utility-scale capacity forecast to increase by 44 percent, during the two-year period ending on December 31, 2018 [(10)]. The Solar Energy Industries Association suggests that, by 2021, the U.S. solar market could triple in size to power the equivalent of 22 million homes [(11)]. With widespread agreement about the market's huge potential, now is a great time to put the solar power industry's most encouraging players on your investment radar.
For more information on SolarWindow Technologies visit: SolarWindow Technologies (WNDW)
Editorial Sources
[(1)] http://www.afdc.energy.gov/data/10301
[(3)] http://news.energysage.com/congress-extends-the-solar-tax-credit/
[(4)] http://solarwindow.com/powermodel/
[(5)] https://www.greentechmedia.com/articles/read/dow-chemical-sheds-solar-shingle-business
[(6)] https://it.businessinsider.com/tesla-solar-roof-solar-city-features-2017-2/
[(7)] http://www.investopedia.com/news/dark-clouds-over-canadian-solar-2017-csiq/
[(8)] http://www.investopedia.com/investing/top-alternative-energy-companies/
[(10)] https://www.eia.gov/outlooks/steo/report/renew_co2.cfm
[(11)] http://www.seia.org/research-resources/smi-2016-year-review-numbers
About NetworkNewsWire
NetworkNewsWire (NNW) is an information service that provides to users (1) access to our news aggregation and syndication servers, (2) enhanced press release services, and (3) a full array of social communication solutions. As a multifaceted financial news and content distribution company with an extensive team of contributing journalists and writers, NNW is uniquely positioned to best serve private and public companies that desire to reach a wide audience of investors, consumers, journalists and the general public. NNW has an ever-growing distribution network of more than 5,000 key syndication outlets across the country. By cutting through the overload of information in today's market, NNW brings its clients unparalleled visibility, recognition and brand awareness. NNW is where news, content and information converge.
http://www.NetworkNewsWire.com
Please see full terms of use and disclaimers on the NetworkNewsWire website applicable to all content provided by NNW, wherever published or re-published: http://NNW.fm/Disclaimer
DISCLAIMER: NetworkNewsWire (NNW) is the source of the Article and content set forth above. References to any issuer other than the profiled issuer are intended solely to identify industry participants and do not constitute an endorsement of any issuer and do not constitute a comparison to the profiled issuer. FN Media Group (FNM), is a third-party publisher and news dissemination service provider, which disseminates electronic information through multiple online media channels. FNM is NOT affiliated with NNW or any company mentioned herein. The commentary, views and opinions expressed in this release by NNW are solely those of NNW and are not shared by and do not reflect in any manner the views or opinions of FNM. Readers of this Article and content agree that they cannot and will not seek to hold liable NNW and FNM for any investment decisions by their readers or subscribers. NNW and FNM and their respective affiliated companies are a news dissemination and financial marketing solutions provider and are NOT registered broker-dealers/analysts/investment advisers, hold no investment licenses and may NOT sell, offer to sell or offer to buy any security.
The Article and content related to the profiled company represent the personal and subjective views of the Author, and are subject to change at any time without notice. The information provided in the Article and the content has been obtained from sources which the Author believes to be reliable. However, the Author has not independently verified or otherwise investigated all such information. None of the Author, NNW, FNM, or any of their respective affiliates, guarantee the accuracy or completeness of any such information. This Article and content are not, and should not be regarded as investment advice or as a recommendation regarding any particular security or course of action; readers are strongly urged to speak with their own investment advisor and review all of the profiled issuer's filings made with the Securities and Exchange Commission before making any investment decisions and should understand the risks associated with an investment in the profiled issuer's securities, including, but not limited to, the complete loss of your investment.
NNW & FNM HOLDS NO SHARES OF ANY COMPANY NAMED IN THIS RELEASE.
This release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E the Securities Exchange Act of 1934, as amended and such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. "Forward-looking statements" describe future expectations, plans, results, or strategies and are generally preceded by words such as "may", "future", "plan" or "planned", "will" or "should", "expected," "anticipates", "draft", "eventually" or "projected". You are cautioned that such statements are subject to a multitude of risks and uncertainties that could cause future circumstances, events, or results to differ materially from those projected in the forward-looking statements, including the risks that actual results may differ materially from those projected in the forward-looking statements as a result of various factors, and other risks identified in a company's annual report on Form 10-K or 10-KSB and other filings made by such company with the Securities and Exchange Commission. You should consider these factors in evaluating the forward-looking statements included herein, and not place undue reliance on such statements. The forward-looking statements in this release are made as of the date hereof and NNW and FNM undertake no obligation to update such statements.
DISCLOSURE: In compliance with Section 17(b) of the Securities Act of 1933, as amended, please be advised that since March 8, 2017, NNW has received and will continue to receive, pursuant to an agreement between NNW and Omnicor Media LLC (OMNICOR) $15,000 per month from OMNICOR, a third-party, on behalf of WNDW for Brand Awareness Distribution, Corporate Communications, News and Editorial Syndication, Press Release Enhancement and Social Media Solutions provided by NNW, until such time as such agreement is terminated by NNW or OMNICOR. NNW also has been paid for the preparation, publication and distribution of this Article and content. This payment was made by OMNICOR, which has been engaged by SolarWindow Technologies, Inc. to provide SolarWindow Technologies, Inc. with name branding, investor outreach and other services; and, in consideration for which OMNICOR, represents that it has been paid a total of $757,740.63 since 3/31/2016, of which $562,740.63 constituted third party expenses. NNW have not received any equity-based compensation for its services and none of NNW's members, executives, or employees own shares or have received any equity-based compensation of the profiled issuer. NNW is not now and cannot be deemed a direct or indirect beneficial owner of any equity or other securities of SolarWindow Technologies, Inc. NNW's compensation disclosure is incorporated herein and appears in full at http://NNW.fm/Disclaimer
FNM has not received any equity-based compensation for its services and none of FNM's members, executives, or employees own shares or have received any equity-based compensation of the profiled issuer. NNW and or FNM are not now and cannot be deemed a direct or indirect beneficial owner of any equity or other securities of the issuer.
Media Contact:
E-mail: FN Media Group, LLC - [email protected]
954-345-0611
SOURCE NetworkNewsWire
WANT YOUR COMPANY'S NEWS FEATURED ON PRNEWSWIRE.COM?
Newsrooms &
Influencers
Digital Media
Outlets
Journalists
Opted In
Share this article