TORONTO—Two Ontario companies are joining forces to produce a new type of photovoltaic cells designed to cut costs in the highly competitive solar industry.
Mississauga, Ont. panel manufacturer Silfab Solar has disclosed a new partnership with Morgan Solar, a Toronto-based technology firm that’s developed a number of advanced solar technologies, including highly-efficient PV modules and solar trackers.
With expertise in complementary areas, the two companies have agreed to work together to develop and mass produce a potentially disruptive PV cell that uses less silicon than conventional solar cells while generating a similar amount of electricity.
The companies said the new product could slash module costs by as much as 30 per cent, though they did not release a timeline for when the new product is expected to hit the market.
“This agreement brings together the forward-thinking technologies and design of Morgan Solar with the highly efficient and high-volume production capabilities of Silfab,” Mike Andrade, the CEO of Morgan Solar, said in a statement. “The commercial and utility solar industries will realize significant cost savings with lower capital investment, and superior quality for many years.”
Set up in 2010, Silfab builds its panels in Mississauga, though it’s owned by an Italian parent company. Morgan Solar, meanwhile, was founded in 2007 and has grown up with the help of a number of tech accelerator programs, including MaRS Discovery District. Just last month, it landed $7.4 million in fresh funding from Sustainable Development Technology Canada (SDTC) for two technology projects.
The new jointly-developed PV cells are designed specifically for large commercial-scale projects as opposed to rooftop solar.