Cogenra is a young new company funded by the alternative energy juggernaut Khosler Ventures. The basis of Cogenra is that it combines two current alternative energy solutions, solar PV electricity production, and solar thermal hot water production. Current solar PV panels are grossly inefficient in three ways: first of all they only harness 15% of the sun’s energy, with the rest being released from the panel in heat energy. Secondly, there is no way to store the extra energy that is being produced. Thirdly, solar PV panels are less efficient when they are overheated, and the black PV units used in hot areas can reach temperatures above the critical point, causing the PV units to break down faster and produce less energy. By combining a traditional PV panel with the solar thermal module all of these problems are greatly reduced.
Their new solar technology uses standard PV with concentrating optics and single axis tracking, as wells as a thermal transfer system. Cogenra mounts the solar cells on hot water pipes in the center of trough shaped mirrors. The mirrors focus the energy of the sun by about ten times. The result is electricity and water that is heated up to 158 degrees. The temperature of the water can be adjusted based on how the hot water is going to be used. It would be cooler for a hot shower and hotter for use in a distillery of dairy factory. Five times as much energy is created by using this combined solar attack, reducing GHG emissions by as much three times more than traditional solar PV and 50% more than hot water. Furthermore, Cogenra reduces the amount of VOC (Voluble Organic Compounds) or NOx (Nitric Oxide and Nitrogen Dioxide) from burning natural gas onsite.
The economic implications of this new technology are what really make it so attractive. Five times the energy production translates to twice the financial savings power (because NG isn't worth as much as electric at the moment), which cuts the payback time of installing Cogenra products in half. The payback time, estimated from a location in Fresno with an average of 194 sunny days a year, is about five years, and can be faster in combination with performance based incentives in local districts. During 2011 alone, solar cogeneration systems are eligible for a special federal Investment Tax Credit (ITC) grant covering 30 percent of total installed cost and a 100% depreciation write-off of the equipment. An additional rebate up to $500,000 is available under the California Solar Initiative’s solar thermal program being. Further incentives are available for renewable electricity generation under the California Solar Initiative’s performance-based incentives (PBI) for solar PV. The most powerful assets of Cogenra is that functions as a hedge against the volatile prices of electricity and natural gas. Commercial electric utility rates in California have risen 650 percent and natural gas prices have risen 1360 percent since 1970. This hedge is strengthened further by the fact that the cost of silicon has dropped drastically, even over the last year. In 2011, the average selling price for crystalline silicon PV modules was cut in half — falling from $1.80 at the beginning of the year to $0.90 in December, according GTM Research. After a half-decade of silicon demand outstripping supply,we finally have too much cheap silicon. There are currently more than 170 silicon producing companies that will eventually be narrowed down to about ten survivors by the end of the decade. This over-supply could help drop the average price for crystalline silicon solar modules to as low as $0.70 a watt.
Cogenra has a globally scalable worldwide module manufacturing capacity. In an interview with Mercury News, Cogenra founder Dr. Gilad Almogy explained that his company is highly profitable because it passes the “Chindia” test, or its application to China and India. There are a large number of cities with hot water needs that have limited access to the natural gas necessary to heat the water. Even though many countries don’t have alternative energy incentives that make solar PV and thermal technologies more competitive in the market, this need to produce hot water without access to natural gas will create demand for Cogenra’s products. In European countries and the US the great incentives that go along with alternative energy efforts will ramp up the demand for Cogenra technology. Co-generation technology is not something that is viable for standard residences with peaked roofs. Cogenra aims to supply large institutions with flat roofs and a high demand for hot water. This list of businesses includes hospitals, dorm rooms, fitness centers, the miliitary, wineries, dairies among other things. I think that cogeneration will be a vital technology in the years to come.
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