Solar Love
  • Rooftop Solar
    • Energy Storage
  • Solar Panels
  • Policy
  • Research
    • Science
    • Market Research
    • Solar Perceptions & Polls

Solar Love

  • Rooftop Solar
    • Energy Storage
  • Solar Panels
  • Policy
  • Research
    • Science
    • Market Research
    • Solar Perceptions & Polls
PVRooftop SolarSolar ModulesSolar PV Manufacturing

SolarCity Silevo Solar Module Aim: 50¢/Watt, 24% Efficiency

by James Ayre August 30, 2015
written by James Ayre August 30, 2015
SolarCity Silevo Solar Module Aim: 50¢/Watt, 24% Efficiency

SolarCity’s goals for the Silevo solar module manufacturing facility under development in Buffalo, New York, are certainly not unambitious ones — based on the company’s recent SEC filing detailing the achievements needed via its performance-based compensation plan to vest tranches of shares.

Amongst these achievements, is the meeting of production costs of just 50¢/watt for solar modules with a +20% conversion efficiency — so, as stated above, the company certainly isn’t aiming low.

SolarCity Silevo Efficiency

Considering the scale of the facility, the target doesn’t sound that strange — the manufacturing facility will, after all, be one of the largest of its type in the world once completed. Altogether, SolarCity is aiming for an annual production output of 1 gigawatt of solar modules (1,000 megawatts).

If the 50¢/watt goal is met, the facility will then be in a highly competitive position with Chinese-produced solar modules — potentially making for some very interesting market happenings. When that will occur is currently unknown, though. The facility is expected to come online in 2016, but the ramp-up period is vague.

Worth a reminder here, as well, is that the solar modules produced by the facility are expected to be high enough in conversion efficiency (over 20% to 24%) that fewer modules will be needed for solar arrays or rooftop systems, thereby reducing space requirements, and presumably installation costs.


 

Electrek provides more:

20% efficiency would be great, but the company aims to eventually hit 24% with Silevo’s Triex technology. They think they could reduce the number of panels per installation by 25%. The breakthroughs would allow for 340 watt panels the size of current 250 watt high-efficiency panels.

These module cost improvements would help the co-founders achieve other milestones of their compensation plan, including the reduction of the total cost per watt, which was at $2.91 last quarter. According to the SEC filing, to vest the last tranche of their compensation plan, they would need to achieve a total cost of installation of $2.05 per watt. This could make residential solar energy more affordable than ever before.

Here are the achievements outlined in the recent SEC filing:

  1. Cost of Production of $0.50/Watt of solar modules with at least 20% efficiency
  2. 1 million Customers
  3. 3 million Customers
  4. 2,000 Cumulative Megawatts Installed
  5. 6,000 Cumulative Megawatts Installed
  6. PowerCo Available Cash of $170 million for Trailing Twelve Months
  7. PowerCo Available Cash of $600 million for Trailing Twelve Months
  8. Average Total Cost Per Watt of $2.75 as of the end of a fiscal quarter
  9. Average Total Cost Per Watt of $2.35 as of the end of a fiscal quarter
  10. Average Total Cost Per Watt of $2.05 as of the end of a fiscal quarter
SilevoSolarCity
0 comment
0
FacebookTwitterPinterest
James Ayre

's background is predominantly in geopolitics and history, but he has an obsessive interest in pretty much everything. After an early life spent in the Imperial Free City of Dortmund, James followed the river Ruhr to Cofbuokheim, where he attended the University of Astnide. And where he also briefly considered entering the coal mining business. He currently writes for a living, on a broad variety of subjects, ranging from science, to politics, to military history, to renewable energy. You can follow his work on Google+.

previous post
Largest Solar PV Manufacturing Facility In Brazil Now Up
next post
Last Year, 70% of India’s Solar PV Module Imports Came From China

You may also like

India’s NTPC Offers Solar Project Management Services To...

June 9, 2019

Neighborhood Power Installing 10 Megawatt Solar Bifacial+Tracker Project...

November 20, 2018

EDF Renewables Commissions 110 Megawatts Of Solar In...

October 30, 2018

Maui Switches On Another 2.87 Megawatts Of Solar...

October 8, 2018

Capital Dynamics Acquires 121 Megawatt Springbok 3 Solar...

September 27, 2018

EnSync Energy Sells CAL FIRE Solar PPA Project...

August 20, 2018

India Sees Highest-Ever Quarterly Solar Addition

April 30, 2018

As Solar Bids Firm Up, Indian State Cancels...

April 24, 2018

Solar+Storage Project Awarded In India’s Andaman Islands

April 23, 2018

New Manufacturing Techniques Could Lower The Cost Of...

April 17, 2018

Follow Me

Facebook

Recent Posts

  • Meet PVCase: A 3D Solar Design Software That Every PV Designer Should Consider

    June 12, 2019
  • Mitsui To Partner With Indian Company For Distributed Solar Projects

    June 10, 2019
  • India’s NTPC Offers Solar Project Management Services To ISA Members

    June 9, 2019
  • Equinor & Scatec Solar Complete 162 Megawatt Brazilian Solar Plant

    November 29, 2018
  • Gamesa Awarded 400 Megawatt Solar Project In Egypt

    November 29, 2018
  • Facebook

@2019 - All Right Reserved solarlove.org


Back To Top