U.S. Department of Energy Encourages Ascent Solar to Submit Full Application for Federal Funding of Agrivoltaic Product Development Project
23 Octobre 2023 - 10:30PM
Ascent Solar Technologies, (Nasdaq: ASTI) (“ASTI” or the
“Company”), the leading U.S. innovator in the design and
manufacture of featherweight, flexible, and durable CIGS thin-film
photovoltaic (PV) solutions, announced today that the initial
concept paper submitted for DE-FOA-0003057: Bipartisan
Infrastructure Law: Silicon Solar Manufacturing, and Dual-use
Photovoltaics Incubator has been reviewed and received an
“Encouraged” decision from the Department of Energy (DOE).
Ascent will now move forward with the application
process in hopes of securing funding through this FOA to advance
the development of the proposed agrivoltaic system. Ascent is
working to innovate agrivoltaic technologies that will directly
benefit the farmers of America by enabling reliable and durable
on-site solar power generation for behind the meter use.
The Biden-Harris Administration has demonstrated a
commitment to spurring agrivoltaic adoption. In the summer of 2023,
the administration via the DOE announced a “Bipartisan
Infrastructure Law Silicon Solar Manufacturing and Dual-use
Photovoltaics Incubator funding opportunity, which will award $45
million for projects to enable continued solar cost reductions
while developing next-generation solar technologies and boosting
American solar manufacturing.” Ascent believes its thin-film solar
technology is a natural fit for application, especially as the DOE
has noted the importance of developing new technologies that can
facilitate agrivoltaic adoption and lower the cost of manufacturing
and installation.
Agrivoltaics, the coupling of solar panel installs
among rows of crops on America’s vast farmland, have garnered
significant attention for their efficiency in land use and
potential for significant energy production. While considered a
nascent use of solar technology, the category is considered high
growth with industry experts forecasting a 10%+ annual growth rate
amid a marketplace exceeding several billion dollars in coming
years.
“Thin-film solar is uniquely capable of being
produced and incorporated into agrivoltaic application, and we are
appreciative of the Department of Energy’s commitment to exploring
the potential of the technology,” said Paul Warley, CEO of Ascent
Solar Technologies. “This is an opportunity for Ascent to submit a
full application for a DOE funded project, demonstrating our
technology’s potential following years of research for application
to produce solar energy on farms, and provide water conservation.
We look forward to completing the full application and competing
for involvement in the project(s).”
According to Lee et al. and Weselek et al.,
agrivoltaics can increase land productivity by 60–70%. Per a study
entitled 'The potential of agrivoltaic systems' published by Dinesh
and Pearce, it can increase the economic value of land by more than
30%, by minimizing yield losses due to shading effects through
appropriate crop selection. With the many benefits associated with
agrivoltaic installations supported by extensive research, it is
Ascent’s goal to close the gap for farmers by deploying its
thin-film solar technology to enable dual use of agricultural land
with easy installation and minimal impact to existing
operations.
ABOUT ASCENT SOLAR TECHNOLOGIES,
INC.
Backed by 40 years of R&D, 15 years of
manufacturing experience, numerous awards, and a comprehensive IP
and patent portfolio, Ascent Solar Technologies, Inc. is a leading
provider of innovative, high-performance, flexible thin-film solar
panels for use in environments where mass, performance,
reliability, and resilience matter. Ascent’s photovoltaic (PV)
modules have been deployed on space missions, multiple airborne
vehicles, agrivoltaic installations, in industrial/commercial
construction as well as an extensive range of consumer goods,
revolutionizing the use cases and environments for solar power.
Ascent Solar’s research and development center and 5-MW nameplate
production facility is in Thornton, Colorado. To learn more,
visit https://www.ascentsolar.com or follow the Company
on LinkedIn and X (formerly Twitter).
FORWARD-LOOKING STATEMENTS
Statements in this press release that are not
statements of historical or current fact constitute
"forward-looking statements" including statements about the
financing transaction, our business strategy and the potential uses
of the proceeds from the transaction. Such forward-looking
statements involve known and unknown risks, uncertainties and other
unknown factors that could cause the company's actual operating
results to be materially different from any historical results or
from any future results expressed or implied by such
forward-looking statements. We have based these forward-looking
statements on our current assumptions, expectations and projections
about future events. In addition to statements that explicitly
describe these risks and uncertainties, readers are urged to
consider statements that contain terms such as “will,” "believes,"
"belief," "expects," "expect," "intends," "intend," "anticipate,"
"anticipates," "plans," "plan," to be uncertain and
forward-looking. No information in this press release should be
construed as any indication whatsoever of our future revenues,
stock price, or results of operations. The forward-looking
statements contained herein are also subject generally to other
risks and uncertainties that are described from time to time in the
company's filings with the Securities and Exchange Commission
including those discussed under the heading “Risk Factors” in our
most recently filed reports on Forms 10-K and 10-Q.
MEDIA CONTACTSpencer
HerrmannFischTank PRascent@fischtankpr.com
INVESTOR
CONTACTir@ascentsolar.com
References (Not all mentioned)
- Agrivoltaic, a Synergistic Co-Location of Agricultural and
Energy Production in Perpetual Mutation: A Comprehensive Review by
Aminata Sarr,Y. M. Soro, Alain K. Tossa and Lamine Diop
- H Dinesh, JM Pearce - Renewable and Sustainable
Energy Reviews, 2016
- NREL Report: https://www.nrel.gov/docs/fy22osti/83566.pdf
- Lee, H.J.; Park, H.H.; Kim, Y.O.; Kuk, Y.I. Crop Cultivation
Underneath Agro Photovoltaic Systems and Its Effects on Crop
Growth, Yield, and Photosynthetic
Efficiency. Agronomy 2022, 12,
1842. [Google Scholar]
[CrossRef]
- Dinesh, H.; Pearce, J.M. The potential of agrivoltaic
systems. Renew. Sustain. Energy
Rev. 2016, 54, 299–308. [Google
Scholar] [CrossRef][Green
Version]
- Weselek, A.; Ehmann, A.; Zikeli, S.; Lewandowski, I.;
Schindele, S.; Högy, P. Agrophotovoltaic systems: Applications,
challenges, and opportunities. A review. Agron. Sustain.
Dev. 2019, 39, 35. [Google
Scholar] [CrossRef]
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