SOURCE: Solar3D, Inc.

Solar3D, Inc.

March 05, 2012 03:01 ET

Solar3D 3-Dimensional Solar Cell Reduces Payback on Solar Power Systems by at Least 40%

Company's Super Efficient Silicon Solar Cell Featuring Wide-Angle Light Collection Can Make Solar Power Affordable for Millions of Users

SANTA BARBARA, CA--(Marketwire - Mar 5, 2012) - Solar3D, Inc. (OTCBB: SLTD), the developer of a breakthrough 3-dimensional solar cell technology to maximize the conversion of sunlight into electricity, today explained how its super-efficient solar cell can reduce investment payback on solar power systems. These revolutionary cost benefits, which have eluded the solar industry to date, can make solar power affordable for millions of people.

"We have achieved these cost benefits with our 3-dimensional cell design," said Jim Nelson, CEO of Solar3D. "Cost savings come from two very important features. First, our 3D cell can deliver a high conversion efficiency of 25% using low cost silicon, which is nearly 50% more efficient than current commercial solar cells. Second, our 3D cell features an integrated wide-angle light collection surface that grabs light from a wider range of angles. Wide-angle collection allows our solar cell to collect light more effectively early and late in the day, as well as in the winter months. The result is that our 3D solar cell can deliver 200% more power output than conventional solar cells."

Nelson continued, "Because of our high power density, solar panels using Solar3D cells can also produce more power from space limited areas, such as rooftops. Because of wide-angle collection, solar panels using Solar3D cells will have less need for elaborate tracking systems that follow the sun to maintain high efficiency. Based on our calculations, we conclude that our breakthrough technology will reduce the payback on a solar system by at least 40%."

Though solar is the fastest growing industry in the world, it still produces less than 1% of the world's electricity. Most industry analysts believe that the reason for this slow rate of adoption is the high total system cost for solar. The DOE and others estimate that when the cost of electricity from solar approaches grid parity, or a level at which it is competitive with other sources of electricity, it will produce up to 20% of the world's electricity -- independent of government incentives. Solar3D sees reducing the cost of solar energy as a key part of its mission.

Nelson concluded, "Reducing the payback of a solar system by 40% is dramatic. Most systems have a payback period of 10-15 years. Using Solar3D cells, the payback period can be reduced to 6-9 years, making the purchase decision more like buying a car rather than a house. Lastly, after completing the short payback period, the solar system becomes a cash flow generating asset. This is the kind of economics that will open the floodgates for mass affordability and consumption of solar panels. From solar farms, to rooftops, to mobile devices, to military applications, to consumer products, we believe our Solar3D cell will be the obvious choice for next generation solar panels and systems."

About Solar3D, Inc.

Solar3D, Inc. is developing a breakthrough 3-dimensional solar cell technology to maximize the conversion of sunlight into electricity. Up to 30% of incident sunlight is currently reflected off the surface of conventional solar cells, and more is lost inside the solar cell materials. Inspired by light management techniques used in fiber optic devices, our innovative solar cell technology utilizes a 3-dimensional design to trap sunlight inside micro-photovoltaic structures where photons bounce around until they are converted into electrons. This next generation solar cell will be dramatically more efficient, resulting in a lower cost per watt that will make solar power affordable for the world. To learn more about Solar3D, please visit our website at http://www.Solar3D.com.

Safe Harbor Statement

Matters discussed in this press release contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. When used in this press release, the words "anticipate," "believe," "estimate," "may," "intend," "expect" and similar expressions identify such forward-looking statements. Actual results, performance or achievements could differ materially from those contemplated, expressed or implied by the forward-looking statements contained herein. These forward-looking statements are based largely on the expectations of the Company and are subject to a number of risks and uncertainties. These include, but are not limited to, risks and uncertainties associated with: the impact of economic, competitive and other factors affecting the Company and its operations, markets, product, and distributor performance, the impact on the national and local economies resulting from terrorist actions, and U.S. actions subsequently; and other factors detailed in reports filed by the Company.

Contact Information