New Energy Advances Commercial-Use Power Production Model of SolarWindow™ Following Validation by Independent Expert, Dr. Steven S. Hegedus
Columbia, MD – December 15, 2010 – New Energy Technologies, Inc. (OTCBB: NENE) today announced that successful independent corroboration of early power modeling for the Company’s SolarWindow™ has spurred active development of advanced ‘commercial-use’ models for calculating power production and energy savings for the first-of-its-kind technology capable of generating electricity on glass while remaining see-thru. Once developed, an advanced power output model which accounts for performance and operating characteristics can serve as a basis for preliminary system sizing, value engineering, economic analysis, and power offset estimates — important considerations to prospective SolarWindow™ commercial customers.
Today’s news follows validation of the Company’s early power production model by Dr. Steven S. Hegedus,a widely-published expert and authority in photovoltaics. Dr. Hegedus is credited with more than 90 scientific publications related to thin film solar cell fabrication, characterization, manufacturing methods and reliability studies. Dr. Hegedus also serves as Principal Investigator of industry-funded programs targeting improved power output of solar cells through chemical processes. Working through commercial partnerships, Dr. Steven S. Hegedus has developed technologies to help characterize the stability of organic photovoltaic modules under varying environmental conditions, an important hurdle in ensuring long-term performance. He is the co-editor of the Handbook of Photovoltaic Science and Engineering.
“I’m satisfied that New Energy’s preliminary power production model calculations appear accurate and appropriate, and based on reasonable assumptions. The results indicate that even at moderate efficiencies SolarWindow™ could be capable of providing a significant amount of energy, following its successful development and ultimate commercial installation,” explained Dr. Hegedus, following his review of the Company’s early models to calculate SolarWindow’s power production when applied to an entire building as a ‘system’.
“Today’s validation of our commercial-use power production model is an important step in providing potential customers with a performance and economic model for calculating cost-savings associated with the application of SolarWindow™ to building facades,” explained Mr. John A. Conklin, President and CEO of New Energy Technologies, Inc.
Key to maximizing energy production, SolarWindow™ can be applied to the extensive glass surfaces on commercial skyscrapers, an important advantage over conventional solar systems confined to installation on space-prohibitive rooftops.
The prospect of creating the world’s first-of-its-kind SolarWindow™, currently under development, is made possible when researchers spray the Company’s novel, electricity-generating, see-thru coatings onto glass surfaces. Unique to SolarWindow™, these coatings remain see-thru when applied to glass, and generate electricity under both natural and artificial light conditions. As part of its ongoing efforts to develop SolarWindow™ for commercial use, New Energy recently obtained an exclusive worldwide commercial license to numerous discoveries important to achieving transparency and ease of manufacturing.
SolarWindow Technologies, Inc. creates transparent electricity-generating liquid coatings. When applied to glass or plastics, these coatings convert passive windows and other materials into electricity generators under natural, artificial, low, shaded, and even reflected light conditions.
Our liquid coating technology has been presented to members of the U.S. Congress and received recognition in numerous industry publications. Our SolarWindow™ technology may generate 50-times the power of a conventional rooftop solar system and may achieve a one-year payback when installed on all four sides of a 50-story building, according to independently-validated power and financial modeling.
Power and Financial Model Disclaimer
The company's Proprietary Power Production & Financial Model (Power & Financial Model) uses photovoltaic (PV) modeling calculations, which are consistent with renewable energy practitioner standards for assessing, evaluating and estimating renewable energy for a PV project. The Power & Financial Model estimator takes into consideration building geographic location, solar radiation for flat-plate collectors (SolarWindow™ irradiance is derated to account for 360 degrees building orientation and vertical installation), climate zone energy use and generalized skyscraper building characteristics when estimating PV power and energy production, and carbon dioxide equivalents. Actual power, energy production and carbon dioxide equivalents modeled may vary based upon building-to-building situational characteristics and varying installation methodologies.
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