Renewable Energy Corporation: History And Significance

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AUTHOR NOTE:

Hi, I wrote for REC the Norwegian company with current events to tell the story. Though, was not sure if you wanted an article about REC in Maryland. J

The road to renewable energy has not been an easy one. For many years the components of solar panels were cost-prohibitive to manufacture, keeping them out of reach for most people. Meanwhile, for the companies that produce them, it is not always a financially winning business.

Renewable Energy Corporation, REC for short, produces silicon for photovoltaic panels. That is the good news. These days, photovoltaic technology has taken the idea of harnessing the sun’s energy to new heights. Photovoltaic technology allows more effective and efficient storing and capturing of the sun’s energy for use at less sun-drenched points in the day.

REC produces the silicon for photovoltaic purposes, along wtih multicrystalline wafers and the key components: solar cells and modules. The company’s three divisions are organized around these main areas of technology: wafer, silicon, and solar. While that is all promising, keeping the business up and running, and in line with the cutting edge of solar technology over the years has had its impact on the company.

solar park

Taking The Good With The Disappointing News

For instance, Renewable Energy Corporation had been founded in Norway, and had taken its own efforts to become a source of wafers and solar cells there. It did not go so well, posting hefty losses that forced them to shutter their production in Norway. They ceased production in 2012. From then on, REC has since relocated to Washington State in the United States.

It had been a much brighter future when the company went public in 2006. The rough economic climate of 2008 and 2009 was too much for the company to endure, though.

The blood letting is still continuing for the company, which has continued to experience significant drops in its share price. In February 2016, the REC Silicon shares nosedived 30 percent from a headline-stealing polysilicon trade war between China and the United States.

We Did Start The Fire

What that meant for the REC Silicon division was that they were unable to buy any polysilicon from China. What started out as a protective measure for U.S. solar panel manufacturers grew ugly. Initially the U.S. banned Chinese solar panel products. In response, China unleashed its fire breathing polysilicon dragon.

The Saga Continues

Was the United States playing China? It could be as a July 2016, Los Alamos National Laboratory report revealed that photovoltaic technology may have found the wave of the future. The polysilicon wars may be passe, as researchers are honing in on perovskite. This material may be the key to cheaper and easier manufacturing of efficient panels.

The one drawback is that scientists are working to counter one big effect of perovskite. It degrades when exposed to the sun’s light. According to the Los Alamos National Laboratory, a degraded device actually self-repairs when night fall arrives. The darkness allows it to “heal”.

Homeowners, Business, And Practical Use

Many more households are purchasing solar systems to offset the costs of electricity in the home. From heating water with solar power to operating a whole home, many people are still making do with budget constraints and restrictions on the capabilities of solar power.

Learning Curve

As it turns out the building or home owner needs to endure a bit of a learning curve to realize how to harness their energy. Many have successfully realized how to make surplus energy that they sell back to the electric company.

Having a sufficient number of high-quality, properly installed panels that use photovoltaic technology are the keys to making solar energy work for households. Timing whether to run appliances, pool pumps, dishwashers, and washing machines during the day or night falls to the homeowner. It makes the difference between running a surplus or having to buy electricity.

The use of special modules to make the most of solar power makes a significant difference in harnessing and saving energy or losing it. Using these devices also helps households realize a profit by having more energy to sell back to the grid.

Either way, most people would love to have the option to sell anything for a profit back to the electric company. For people saddled with excessively high utility bills and plenty of sunshine, solar power is a promising proposition. Keep up with the progress of Renewable Energy Corporation in the future.