Coolearth HQ (TGW) – Cool Earth Solar has raised $21 million for its innovative solar ‘balloons’.
The design of the company’s product is extremely unique. Solar ‘balloons’ are suspended on wire structures, which frees the land below for other activities, like farming.The balloons can withstand the elements and up to 100 mph winds.
Because its design uses relatively cheap and readily available components, these solar concentrators can generate electricity at a cost comparable to that of natural-gas plants. According to Cool Earth Solar, the technology is 25x cheaper than installed solar panels.
Cool Earth Solar uses a technique called concentrated solar photovoltaics, in which light is magnified onto solar cells to maximize output. This reduces the number of panels needed in a given area.
Via :: Press Release