Major Investments Prove Confidence in Concentrators
Friday, May 23rd, 2008
On May 23rd, the Ontario Ministry of Research and Innovation announced $3M in funding to WalMart for the development of a solar roof on a new superstore in Markham, Ontario. The technology behind this project is the solar concentrators from Menova Energy Inc., an Ontario-based firm. This is the second major Ontario announcement of this level for this technology. In April, RESCo Energy, Conundrum Capital and Menova Energy provided a fully financed option for an even larger system to the City of Toronto as part of a bid process for a 1MW solar power plant.
Concentrators have long been the grail of the photovoltaic industry. At the end of March, the International Conference on Solar Concentrators for the Generation of Electricity or Hydrogen in Madrid, Spain, showcased eight technologies, including that of Menova Energy. Concentrators are no longer relegated to the role of utility thermal, and are taking their place as rooftop thermal and electric plants.