Meet Scott Graybeal, CEO of Caelux, which has developed a perovskites-based nanotechnology that can improves the performance of silicon solar panels that it claims produce 30% more power from the sun at a 10% lower cost than traditional panels. Caelux recently closed an additional $12 million in funding to build a manufacturing facility that will produce up to 100 MW of capacity. The $370 billion Inflation Reduction Act has reportedly been followed by between $213 and $511 billion in private investment, with hundreds of new solar, battery, and other cleantech facilities being launched in the last year. It’s a remarkable time to be in green technology, because, as Scott explains, the U.S. has embraced an industrial vision and invested to make it happen for the first time since the Eisenhower Administration.
Silicon-based solar panels have made tremendous progress since they came to public attention when the Carter Administration first installed them on the roof of the White House. The cost of electricity they generate has fallen by 99% as silicon solar panels achieved 20% efficiency. But there are other materials that could deliver more energy at a lower cost. Perovskite, a calcium titanium oxide-based nanomaterial can turn more than 25% of the sun’s light into electricity, and resent research suggests they could become two-and-a-half times more efficient in the next few years. You can learn more about Caelux at https://caelux.com/