Better solar power technology in the pipeline

Zenith Solar, a new energy firm in Israel is developing a solar power generation technology whose efficiency is five times more than what is currently available.

The company which is headquartered in Nes Ziona which is close to Tel Aviv has come up with a new type of solar energy generation device that utilises mirrors and lenses to concentrate and intensify sun rays thereby producing more power at a cheaper price. When compared with the ordinary flat photovoltaic panels made of silicon the efficiency of the new technology is five times higher. This puts it on the level of oil and natural gas when their prices have not been subsidised by the government.

As Roy Segev, the founder and chief executive of Zenith Solar reveals, they aim to make use of every backyard, roof, and open space in Israel for the production of thermal heat and electricity. Zenith Solar was started in 2006 and has so far raised five million dollars in venture capital from private investors in the United States and Israel. To monetise its technology the firm is looking to raise an extra ten to fifteen million dollars.

Estimate figures from the National Infrastructure Ministry of Israel indicate that solar panels used for heating water already meet four per cent of Israel’s total energy demand. If the device from Zenith Solar were to be widely used the figure could rise to sixteen per cent, which is significant for a country that imports most of its energy.

Zenith Solar acquired the rights to the solar technology from Fraunhofer Institute in Germany and the Ben-Gurion University.

www.zenithsolar.com