How far has solar power technology come in the past decade?
Well, in a manner of speaking . . . light years.
Based in Toronto, Morgan Solar is ready to commercialize a new line of solar concentrating photovoltaic (CPV) modules that will dramatically reduce the costs of solar power. Developed and built in Toronto, the company’s solar modules are the most efficient on the market and are made with the least costly materials.
Enbridge, a North American leader in energy infrastructure, has a dynamic presence this week in Vancouver at the GLOBE 2016 Conference and Innovation Expo, North America’s largest and most influential sustainable business summit. We’re a major player in delivering various sources of energy supply—including renewables—and we’re uniquely positioned to help society make the transition to a lower-carbon future.
Innovation plays a vital role in that transition, and that’s why we invest in companies like Morgan Solar. Each day this week at the GLOBE 2016 Innovation Expo, Morgan Solar’s next-generation technology will be featured at the GLOBE Energy Connections presentation space, adjacent to the Enbridge booth, with Morgan discussing his company’s groundbreaking work and partnership with Enbridge.
Morgan says solar developers often require a well-resourced partner to help move projects forward, to assist with financing and to help ensure continued growth and innovation in Canada’s solar power sector.
“That’s why we’re so pleased that Enbridge, one of the largest renewable companies in Canada, is making a strategic investment in us,” he says.
When it comes to producing solar power, the most costly component is the photovoltaic cell itself. That’s because the process from raw materials to finished cells is a multi-step operation—involving silicon, wiring, clear polymer, sheets of glass, frames and cables—that requires billions of dollars of investment to realize.
By contrast, Morgan Solar’s modules use a thousandth the amount of photovoltaic cells that traditional solar modules do. That’s an enormous cost savings.
And it’s working. In many jurisdictions around the world, solar power is now cost-competitive with conventional sources of electricity such as natural gas and diesel.
The increasing viability of solar power couldn’t come at a more urgent time. As governments and industries focus on reducing carbon emissions, our society will need all sources of energy—and that includes increasing amounts of renewable power generation to meet our climate change commitments and fulfill growing demand.
With an educated, highly skilled workforce that’s among the best in the world at innovation, Canada can play a leading role in supporting the growth of renewable power and the transition to a lower-carbon future.
“As a country,” says Morgan, “we have the vision, leadership and know-how in Canada to become a true superpower in solar.”