Insolight, an EPFL based startup announces that its pre-production modules set a new efficiency standard of 29% for commercial solar panels. Results were validated by the Solar Energy Institute of the Universidad Politécnica de Madrid (IES-UPM), setting the stage for large-scale industrialization. Laurent Coulot, CEO and co-founder of Insolight shares his vision for the future of solar energy in our interview.
What is the core innovation and mission of Insolight?
Insolight aims at bringing the most efficient solar module on the rooftop market, to make solar electricity more affordable. Our approach achieves high performance, versatility and cost-effectiveness by combining our patented optical system and an array of tiny space-grade photovoltaic cells, typically used in satellites. By significantly boosting the energy yield, Insolight’s panels will deliver more energy and higher investment returns compared to mainstream PV modules.
You’re announcing new pre-production modules with a new efficiency standard of 29% for commercial solar panels, what kind of perspective does this open?
Our team has achieved a decisive step, bringing the product from a lab prototype to full-size solar panels, installed outdoor and monitored 24/7. The modules have been extensively tested and successfully endured heat-waves, winter conditions, and storms. It is key to make such validation in real outdoor environment and it sets the stage for large-scale industrialization. The efficiency validation of 29% breaks the ceiling of mainstream photovoltaic modules, which typically have an efficiency of 17-19% in similar conditions. This performance can reduce solar electricity costs by up to 30% on rooftops.
How do you see your next steps to bring these new panels to the market?
We are starting to discuss with several solar manufacturers to license our technology. This can drastically speed up our market entry, leveraging their manufacturing capabilities and know-how. Our technology involves a few extra assembly steps, which can be integrated at the end of existing production lines. In order to convince those partners, we need to demonstrate a blueprint solution, which dilutes the technological risks. We are therefore preparing an industrialization plan and aim to demonstrate the modules assembly for large-scale production.
Back in 2016 you were supported by Venture Kick and you took part in Venture Leaders in 2017, how did it help you to get to where you are today?
VentureKick has been instrumental in our success; the program gave us all the tools to elaborate our business case and communicate our value proposition. The Kicker Camps are especially useful, with very intense and dedicated training sessions, preparing us well for our financing round. Venture Leaders was an incredible dive-in into the Silicon Valley ecosystem, where we got to meet many investors, entrepreneurs and potential partners in a very short time. We are extremely thankful to the people running the program.
Insolight is supported by several programs from the European Commissions (H2020, Solar- ERA.Net, Eurostars, Climate KIC ), national programs (Innosuisse, Innovaud, SPEI, FIT,
VentureKick, CleanTech Alps), the European Space Agency (ESA BIC) and EPFL (Innogrant).
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