Abound Solar has yet to produce any solar panels, but that’s not stopping it from talking a big game.
“We think we have a slight technological advantage over First Solar,” Chief Executive Pascal Noronha tells Reuters. He also tells the newswire, “”We have a manufacturing process that is about as continuous as making beer cans, and therefore makes us the lowest cost manufacturer of photovoltaic modules.”
Abound, formerly known as AVA, will start production of solar panels today at newly opened plant in Longmont, Colorado. The company was sprung from research done since the eighties at Colorado State University.
Abound and First Solar both use cadmium telluride to produce panels, which is why the companies are being compared. Aside from that, the comparisons aren’t so favourable.
First Solar, produces panels for $.98 a watt. Abound says it will do that in three months. By the end of the year, First Solar will have 1,000 MW of manufacturing capacity. Abound will have the ability to produce 65 MW by the end of the year. First Solar is the industry leader, with a stock price of $144 and a market cap of $11.76 billion. Abound is private, operating off $150 million from investors.
Regardless of the disparity between the two companies, we love that Noronha came out swinging.
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