RayGen Awarded $1 Million Grant To Support Solar Tech

RayGen Resources - Solar CPV

Australia’s RayGen Resources will receive more than $1 million from the Victorian Government under its New Energy Jobs Fund grants.

RayGen’s specialty is Concentrated Solar PV (CSPV) technology, a system using mirrors known as heliostats focusing concentrated sunlight onto a central receiver embedded with very high efficiency  triple junction GalnP/GaAs/Ge solar cells.

Two 200kW pilot systems have been deployed so far; one in Newbridge, Australia, and one in Hebei province in China. Last September,  RayGen Resources inked a deal with China’s JuYe Solar that would will create 200 jobs in Victoria.

RayGen says that compared to typical photovoltaic technology, its system requires just 1/1000th of the photovoltaic material and 50% the solar collector area to produce the same amount of power as standard conventional solar panels. It’s not the sort of tech you’d have on your rooftop, but holds great potential for utility scale solar installation applications.

Raygen solar CPV - Australia

“We believe we’re well on the way to achieving this lofty ambition, and to giving humankind its best and most efficient mechanism to harness the power of the sun and to provide cheap and clean energy for all,” states the company.

The New Energy Jobs Funding grant will towards supporting the design, construction and manufacture of a new automated production line for RayGen’s technology.

“We’re proud to be rebuilding much needed confidence in the renewable energy industry,” said Minister for Energy, Environment and Climate Change Lily D’Ambrosio.

“This initiative gives business the opportunity to create a sustainable export business in world-leading renewable energy technology.”

The $20 million New Energy Jobs Fund is part of the Andrews Labor Government  $200 million Future Industries Fund.

The funding for RayGen is one of 24 grants that will be announced in the coming months. The first grant was awarded to the South East Councils Climate Change Alliance (SECCA) in July.

As well as supporting clean energy jobs, the Andrews Government announced a new Victorian Renewable Energy Target in June this year. The goal is for 25 per cent of electricity generated in the state to be sourced from renewables by 2020, rising to 40 per cent in 2025.

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