As of 2014, the US EIA projects the price of energy to skyrocket 80% by 2040. Despite the decrease in cost of conventional flat panel solar, the technological restrictions preclude larger energy consumers with high heating and hot water needs. As a result, these customers are often left out to dry with the highest relative energy costs and renewable energy alternatives unable to offer significant energy supplements or cost savings.
Conventional solar PV panels are increasingly proving a strong supplement or alternative energy source for residences or as utility grid solar farms. Combined these make up 83% of all solar installations. However solar panels must be dedicated as either electrical or thermal and because they are very inefficient, take a lot of real estate space in order to produce significant amounts of power. In other words, these technological restrictions preclude larger and more industrial customer, which account for just 1.4% of the current solar market.
Solstice Power is a company committed to reimagining the world’s relationship with energy. We are founded on a culture of innovation, striving to continuously develop new affordable and sustainable energy solutions that lower energy costs straining the most vital components of our society.