Startup plans to build next-generation US solar factory in two years

Swift Solar is betting on cells that use perovskite, a material that can improve efficiency — but also has yet to be proven at scale.

Startup Swift Solar Inc. wants to build a US factory for manufacturing its futuristic panels in the next two to three years amid government plans to bolster the sector against China’s dominance.

The California-based company aims to produce cells with a material known as perovskite, which can allow panels to capture energy from the sun’s rays more efficiently. Durability, though, remains an issue.

Swift plans to open its first plant with the initial capacity to produce 100 megawatts annually of technology that pairs perovskite with traditional silicon photovoltaic cells. For comparison, the average Chinese plant churns out about 10,000 megawatts per year while US projects tend to be in the 1,000 to 3,000 megawatt range, according to BloombergNEF solar analyst Jenny Chase.

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Source: Bloomberg

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