Solar costs halved by Aussie invention?

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With the costs of solar panels decreasing, a radical new approach by Australian scientists may significantly reduce this cost by inventing a new breed of solar panel which generates electricity and hot water at the same time. This will effectively halve the cost of going solar.

Imagine, hot water and electricity from the same panels.

Installing separate solar electricity and hot water panels is expensive, with costs around $16,000 excluding rebates. The resultant high cost is a barrier for many to go solar.

Scientists from the Australian National University (ANU) expect the costs to come down to between $5,000 to $8000 and expect an average-sized installation would provide enough hot water to run a household and between 50-66% of electricity required for an energy efficient household.

The new solar panels consist of thin troughs made up of mirrors, concentrating the sun's rays onto a solar strip that contains water. The strip generates electricity and also heats up the water, that is then fed into the hot water system.

Commercial and domestic prototypes have already been constructed and tested. The challenge now is to manufacture the solar panels and market the product.

The Australian Government has provided seed funding and Researchers from China's Tianjin University and Chromasun, a Silicon Valley company, are involved in the "two-in-one" project.