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Tuesday, August 31, 2010
The Pitch
Solar Edison building business around hybrid solar modules
By Lynette F. Cornell
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Solar Edison LLC
Headquarters: Seabrook, NH
Phone: 603-474-2550
Email: dstokes@solaredisonllc.com
URL: www.solaredisonllc.com
Year founded: 2005
Employees: 3
In the company’s own words:
“We have a new hybrid solar module that produces 440 watts per hour. This is a game changer in the solar world. The panel is 40 percent efficient. We also have the technology for the next generation of modules, [named] the 750. This panel is 70 percent efficient and produces 750 watts per hour.”
People behind the company:
Don Stokes, president, has been involved in other alternative energy ventures, including ZAP of New England, an electric vehicle dealership that is a subsidiary of Solar Edison. His business partner is George Hurley, president of energy efficient window installer Atlantic Green Energy in Seabrook.
Background:
For the past three years, Don Stokes has been collaborating with Darry Boyd, CEO of California-based DBK Corp., who developed a hybrid solar panel design. In October 2009, Stokes met George Hurley, and the two began a business partnership to manufacture and distribute solar panels designed by Boyd. They hired Bedford-based Spire Corp. to build the initial solar panel units for testing by Underwriters Laboratories Inc.
The plan:
Once UL certified, Spire will serve as a contract manufacturer, able to deliver 2,000 modules per month, according to Stokes. After Solar Edison has moved into a production facility, it will take over the manufacturing process as well as the marketing and distribution of the panels. The company will use contractors for installation of the panels. So far, Solar Edison has designed three different solar panels and built prototypes of each. In the first year of production, the company will manufacture and sell the JIL 440, a solar panel that can produce 440 watts per hour. In years two and three, it will manufacture the JIL 750 and JIL 1500, respectively. Stokes said the intent is to gear up with the next solar panel product while creating cash flow from sales of the JIL 440. Hurley and Stokes have formed a partnership with the Veteran’s Administration to train and hire 225 members to operate the proposed production facility.
The technology:
According to Stokes, the JIL panel processes a higher percentage of light in the solar spectrum than other solar panels currently on the market, thereby allowing higher wattage output per panel. The higher wattage output per panel will allow for a drastic reduction in the manufacturing cost per watt, he said, because fewer panels would be needed to create a megawatt. Additionally, where other solar systems require approximately 2.2 acres of land dedicated to the panel operation per megawatt, Solar Edison’s panels require only 1.1 acre per megawatt.
The design for the JIL 440 is already patented in the U.S. and has been tested for efficiency and output capability by independent testing firm Intertek.
The market:
Solar Edison is looking to tap into the photovoltaic market, which they estimate will be $80.6 billion worldwide by 2018. The company intends to establish multiple manufacturing operations and licensees for power plants, industrial and large commercial rooftop systems, utility scale electricity generation systems and the refrigerated cargo and transportation industry. Solar Edison’s competition includes any manufacturer producing solar panel, according to Stokes.
The pitch:
Solar Edison is seeking $32 million to open a factory in the area of Lowell or Lawrence, finish the world patent application and apply for UL approval.
"The Pitch" takes a look at a company, its executives and its technology-related business plan. To nominate your company for The Pitch section of Mass High Tech, please fill out the submission form.
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