CubicPV - Page 2

In December 2022, CubicPV announced plans to establish 10 GW of conventional mono wafer capacity in the United States. Now, CubicPV said it has halted its plans to build a major U.S. silicon wafer factory, citing a collapse in product prices and soaring construction costs. It was reported that the Company will instead be focusing on producing tandem perovskite solar modules.

As part of its restructuring scheme, the company reduced its workforce and eliminated positions tied to the U.S. factory effort. The Company said it would support the affected workers by providing severance packages and extended health benefits.

Verde Technologies, a perovskite-focused thin-film solar company, has announced a new exclusive partnership with the U.S. Department of Energy’s National Renewable Energy Laboratory (NREL) and Northern Illinois University (NIU) to work collaboratively on the commercialization of perovskite solar cells. 

By combining NREL's and NIU’s expertise with Verde's cutting-edge manufacturing techniques, this collaboration aims to unlock the potential of efficient, safe, low-cost perovskite solar panels at an unprecedented scale.

It was reported that U.S-based CubicPV secured US$103 million in equity financing. While it is meant to support its plans to develop a US silicon wafer production base, CubicPV also said that this capital will support its research into perovskite-silicon tandem technology. 

“Today’s announcement underscores the considerable progress we’ve made, the depth of our engineering competence and the strength of our technologies to deliver a more powerful solar future,” said Frank van Mierlo, CEO of CubicPV. “We thank SCG Cleanergy for their confidence in our manufacturing goals and product roadmap.”

The U.S. Department of Energy Solar Energy Technologies Office (SETO) has announced that a team of researchers, led by MIT and including the University of California San Diego, has been selected to receive a $11.25 Million cost-shared award to establish a new research center that will advance the development of next-generation solar cells for commercial use.

A collaborative effort with CubicPV, solar startup Verde Technologies, and Princeton University, the center will bring together teams of researchers to support the creation of perovskite-silicon tandem solar modules. These are solar cells made of stacked materials—silicon paired with perovskites—that together absorb more of the solar spectrum than single materials, resulting in a dramatic increase in efficiency. Their potential to generate significantly more power than conventional solar cells could make a meaningful difference in the race to combat climate change and the transition to a clean-energy future.

U.S-based company CubicPV has announced plans to establish 10 GW of conventional mono wafer capacity in the United States. 

While CubicPV reports that its new factory will produce conventional silicon wafers, the company said it will continue research and development of its tandem modules, which reportedly offer more than 30% greater efficiency than the highest efficiency conventional modules. The design stacks two solar cells, with silicon on the bottom, powered by CubicPV’s Direct Wafer technology, and perovskite on the top, the company claims that the tandem design “will dramatically increase the power of every acre of solar deployed.”