FOR IMMEDIATE RELEASE
Principal Solar Releases White Paper Comparing Role of Concentrated Solar Thermal and Photovoltaic Solar Technologies in Power Generation Marketplace
Dallas, TX – December 20, 2012 — Principal Solar, Inc (PSI; OTC Pink: PSWW), a publicly traded solar energy holding company executing a unique roll-up strategy to create the world’s first distributed solar utility, today announced the release of “Technological Niches: Concentrated Solar Thermal vs. Photovoltaic Solar.” Authored by Brett T. Gage, research associate PSI, and Rick Borry, Ph.D., chief technology officer, PSI, the paper compares concentrated solar thermal (CST) and photovoltaic (PV) solar technologies, exploring how each succeeds or fails in relation to the electric power generation marketplace.
“Solar electricity will be cost-competitive without subsidies within three years,” says Michael Gorton, CEO, PSI. “This paper explains the strengths and weaknesses of CST and PV technology at a time when both are approaching grid-parity power prices in many applications, making this a timely and highly relevant topic.”
The paper discusses the evolution of solar technology and demonstrates how CST and PV solar technology each serve different technological niches. As of 2012, PV has come to dominate all smaller-scale solar electricity applications, while retaining the majority market share even in commercial and utility-scale applications.
Recently, the Department of Energy (DOE) announced $20 million in new funding that will help integrate concentrating solar power (CSP) systems with fossil fuel power plants. These hybrid systems leverage the infrastructure of fossil fuel plants such as turbine and transmission systems, helping to reduce the cost of solar-generated electricity and bring CSP plants online quicker. CSP retains a strong niche at the utility-scale and in combined heat and power applications, where no amount of PV cost-reduction is expected to overcome its inherent technology advantages.
“As energy independence and sustainability are becoming formidable issues in the public eye, solar presents itself as a primary solution and can increase its future market share simply by participating in the growth of capacity — rather than serving as a replacement,” says Dr. Borry. “PV and CST complement each other to meet new demands, and both will increase their share of the electric power market as the world adds new capacity outside of the traditional carbon combustion processes.”
About Principal Solar
Principal Solar, Inc (PSI; OTC Pink: PSWW), is a publicly traded solar energy holding company executing a unique roll-up strategy to create the world’s first distributed solar utility. PSI concentrates its resources on the acquisition, finance, development and management of solar power companies. The Principal Solar Institute, an educational organization created by Principal Solar, Inc., is dedicated to spreading solar knowledge to the critical stakeholders in the ongoing energy debate. Visit www.PrincipalSolar.com.
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Statements in this press release that are not statements of historical or current fact constitute “forward-looking statements.” Such forward-looking statements involve known and unknown risks, uncertainties and other unknown factors in the solar energy generating industry (market risk, government regulation, operational risks, etc.) 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. In addition to statements that explicitly describe these risks and uncertainties, readers are urged to consider statements that contain terms such as “believes,” “belief,” “expects,” “expect,” “intends,” “intend,” “anticipate,” “anticipates,” “plans,” “plan,” to be uncertain and forward-looking. The Company does not assume a duty to update these forward-looking statements, except as required by law.
CPR for Principal Solar, Inc.