Solar Thermal Energy Attracts Google, Goldman Sachs, Chevron
Whenever we speak about solar energy, most times we refer to the photovoltaic energy - the light energy from the sun that is converted to electricity. But the sun also provides heat energy. And this where solar thermal makes its appearance.
Unlike photovoltaic solar panels that convert sunlight to electricity, solar thermal focuses sun rays with mirrors to heat oil in glass pipes to about 700 degrees Fahrenheit (370 degrees Celsius). The oil turns water to steam, which spins an electric turbine.
Solar thermal is not exactly new. Nine solar-thermal plants built in the California desert from 1985 to 1991 still operate, with FPL Group running seven. They have combined capacity of 354 megawatts, enough to power 230,000 Southern California homes. But it is getting renewed attention from some biggies from different fields - Oil & Gas (Chevron), Finance (Goldman Sachs) & Technology (Google - by the way, just what else is Google upto?).
Costs for solar thermal may fall as low as 3.5 cents a kilowatt hour by 2020, according to a report commissioned by the U.S. Energy Department. Meanwhile, coal expenses may rise. Google, Chevron and Goldman Sachs are betting this energy will become cheaper than coal.
Many of the bets of Google and Goldman Sachs have worked out rather well. Will this one too?
Source: Seattle Times
Unlike photovoltaic solar panels that convert sunlight to electricity, solar thermal focuses sun rays with mirrors to heat oil in glass pipes to about 700 degrees Fahrenheit (370 degrees Celsius). The oil turns water to steam, which spins an electric turbine.
Solar thermal is not exactly new. Nine solar-thermal plants built in the California desert from 1985 to 1991 still operate, with FPL Group running seven. They have combined capacity of 354 megawatts, enough to power 230,000 Southern California homes. But it is getting renewed attention from some biggies from different fields - Oil & Gas (Chevron), Finance (Goldman Sachs) & Technology (Google - by the way, just what else is Google upto?).
Costs for solar thermal may fall as low as 3.5 cents a kilowatt hour by 2020, according to a report commissioned by the U.S. Energy Department. Meanwhile, coal expenses may rise. Google, Chevron and Goldman Sachs are betting this energy will become cheaper than coal.
Many of the bets of Google and Goldman Sachs have worked out rather well. Will this one too?
Source: Seattle Times
Labels: solar
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