Solar Thermal Energy Advocates Fight for Funding

Solar Thermal Energy Advocates Fight for Funding

Despite the falling cost of photovoltaic (PV) panels, leaders in the field of solar thermal energy utilization argue that solar thermal power has a more promising future than solar PV power. This is an opinion shared by several independent executives who were interviewed last week, including: Anne Lauvergeon of French nuclear company Areva, Michael Whalen, CFO of SolarReserve, and John Woolard of BrightSource Energy.

These professionals point out that the costs associated with solar thermal power, or concentrating solar power (CSP), are decreasing thanks to advances in the development of new technology. The primary consumer these start-up companies need to focus on is Lew Hay, who makes decisions for NextEra Energy and handles more solar installation (using a design called SEGS) than any other company in the U.S.

What it comes down to is that solar PV panels are undeniably well-suited for residential homes and roadways or fields that don't get constant sunshine; however, when continuous and intense sun is available, solar thermal technology is the way to go. CSP uses a series of mirrors to redirect concentrated sunlight onto a fluid. As the fluid heats up, steam is generated, which is used to produce electricity. This method is more efficient than solar panels, can produce significantly more power at a lower overall cost, and provides a much steadier power output.

The new designs for CSP are more efficient than the current SEGS technology, but the large-scale projects that are envisioned require some startup funding. BrightSource is looking to begin construction later this summer on Ivanpah, a 400-megawatt project located in the Mojave Desert. The proposed design uses a large array of mirrors to focus sunlight onto a tower where heat and pressure boil the water or other fluid and generate enough steam to spin a series of modern turbines. The project is more sophisticated than current PV efforts, and has the capacity to stay ahead of the curve for years to come.

SolarReserve has plans for a similar new project in the soutwest, with a setup in Tonopha, Nevada that features 24-hour power production and is capable of a 100-megawatt output. The company is still working out the financial details and is struggling to compete with PV proposals since CSP does not yet have the same proven track record. Banks are hesitant to provide loans for such large-scale projects, and start up companies like BrightSource and SolarReserve have the added disadvantage of competing with large European companies as they try to break into the CSP market.

The Department of Energy loans may help to pick up the slack in the near future, as they did with the BrightSource SEGS project. BrightSource already has two 1,300-megawatt purchase agreements with energy leaders PG&E and Edison, while SolarReserve has smaller 100 and 150-megawatt agreements with NV Energy and PG&E as well. As soon as the funding is secured, we will see a new wave of energy efficiency sweeping across our sunny deserts in the southwestern United States.

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