Exciting developments are occurring in solar PV (photovoltaic) power generation. New technologies are improving manufacturing processes. Thin-film and organic (plastic) films promise to reduce PV power cost. Solar “grid-parity,” the time when solar power will cost the same as fossil fuel power, is coming soon. 

PV refers to devices that turn sunlight into electricity. In a previous post, I discussed generation by solar thermal (Solar Thermal: The Other Solar Energy). Both schemes have advantages and disadvantages.

PV can turn solar energy into electricity that can supply households and industry without using any moving parts. Since mechanical devices are less reliable than electronic, these systems are nearly maintenance free. Solar Thermal requires a heat engine, such as a steam engine, and an electrical mechanical generator to produce electricity.

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Solar venture investments hit a three-year low in the second quarter, the Cleantech Group said Wednesday. According to Brian Fan, senior director of research for the group, solar startups in North America, Europe, China and India raised a total of only $113.8 million for the quarter, which is down 7 percent from $365.7 million in the first quarter and down 86 percent from $834.7 million in the year-ago quarter.

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At first glance, the latest numbers from the Cleantech Group look like terrific news. After all, they conclude that 2008 was a record year for cleantech investments, with venture deals in North America, Europe, Israel, China and India reaching a total of $8.4 billion, up 38 percent from $6.1 billion in 2007.

But most of that money was dealt out in the first three quarters, with investment slowing significantly – as expected – in the fourth quarter.

According to preliminary numbers, venture capitalists in these regions committed $1.7 billion in 99 deals in the fourth quarter, down 35 percent from the third quarter and 4 percent from the fourth quarter of 2007. In North America, by far the biggest venture-capital region, fourth-quarter investments totaled $1.14 billion, a decrease of 38 percent from $1.83 billion in the third quarter and of 5.8 percent from $1.21 billion in the last quarter of 2007.

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On occasion, we will write headlines praising developments in things like the ‘the world’s first tidal power turbine‘ or ‘the world’s largest offshore wind farm.’  To set the record straight, we don’t do this only for the purposes of sensationalist self-aggrandizement, we also do it because there are really some exciting developments in the fast-moving world of cleantech; such language is normally apropos.

Global Solar Energy announced Wednesday the full operation of the largest solar electric array worldwide using CIGS photovoltaic technology. CIGS, or copper indium gallium diselenide thin-film solar cells are not dependent on silicon and instead use highly-available raw materials that are easily integrated into a wide range of applications.

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