FollowThe U.S. Department of Energy Secretary, Steven Chu, has announced a conditional loan guarantee of $150 million to 1366 Technologies, Inc., that is in development of a multicrystalline wafer manufacturing project. This breakthrough process, called Direct Wafer, could potentially slash manufacturing costs of silicon wafers by 50 percent — significantly reducing the price of solar power. The project will create 70 permanent jobs and 50 seasonal construction jobs.
“This project is a game-changer that could dramatically lower the cost of photovoltaic solar cells. It is exactly the kind of innovation that puts America at the forefront of the global clean energy race,” said Secretary Chu. “As global demand for solar cells increases, this kind of technology will help the U.S. increase its market share and be more competitive with other countries such as China, which currently accounts for 60 percent of the world supply of multicrystalline wafers.”
