Photovoltaic Solar


GFE has strategically increased its portfolio of project sites in the Western United States, all of which are located in areas defined as high solar radiation zones and are close to existing transmission infrastructure. Each site has a potential developed PV solar generation capacity of 175 MW to 475 MW or more, verified by independent third party reports. GFE installations will meet international carbon footprint reduction and US Renewable Portfolio Standards (RPS), which are either legislated or self-imposed regulation by each state requiring the increased production of energy from renewable energy sources, such as wind, PV solar, biomass and geothermal by a date certain in the future.


GFE uses advanced technologies with monitoring capabilities. They are price competitive and increase harvest yields compared with other systems, depending on the radiation zone of the project. As a result, we produce electricity at a lower cost per kWh than possible with outdated technologies.


The advantage of GFE’s state-of- the-art photovoltaic (PV) solar panel tracking systems has been demonstrated with higher efficiencies in independent testing against multiple competitors. Certified by an internationally recognized engineering firm, the GFE system offers a bankable PV solution. The US government currently grants developers a federal investment tax credit (ITC) equal to 30 percent of the cost of solar energy projects implemented in this country.


MANAGEMENT

GFE has attracted an excellent team of business and development professionals, each one with a history of success in their respective area of specialty and all committed to providing an unparalleled, successful corporate culture and environment. Team members bring valuable industry specific knowledge and experience in the geothermal and other renewable energy markets from both public and private companies, utilities and resource developers. GFE’s team of seasoned professionals provides key competitive strength with a broad range of national and international experience, with an understanding of the economies of scale.


HISTORY

In 1839 a nineteen-year old French physicist named Alexandre Edmond Becquerel observed a physical phenomenon allowing light to electricity conversion. It took until 1883 for the American Inventor Charles Fritts to describe the first solar cell made from selenium wafers and in 1888 Edward Weston received the first US patent for the “Solar Cell”. In 1905, Albert Einstein published a paper on the theory behind the “photoelectric effect” along with his paper on Relativity. By 1916, Robert Millikan had provided experimental proof of Einstein’s Theory and in 1922 Einstein was awarded the Nobel Prize for his 1905 paper on Photoelectric Effect.


The first commercial photovoltaic cells were produced in the 1950s, with Bell Labs exhibiting the first high-power silicon PV cell achieving 6% efficiency in 1954. The New York Times forecasted in 1954 that, “…solar cells will eventually lead to a source of limitless energy of the sun”. Throughout the 1960s, PV modules were principally used to provide electrical power for earth-orbiting satellites. In the 1970s, improvements in manufacturing, performance and quality of PV modules helped to reduce costs and opened up a number of opportunities for powering remote terrestrial applications, including battery charging for navigational aids, signals, telecommunications equipment and other critical, low-power needs. NASA chose PV solar for the JUNO mission to Jupiter; then the farthest a solar powered spacecraft ever travelled from Earth. http://www.jpl.nasa.gov/news/press_kits/juno/facts/


Today, advancing technologies are progressing toward increased efficiencies. For additional history of PV solar refer to the following link: https://en.wikipedia.org/wiki/Timeline_of_solar_cells


SOLAR POWER MARKET SIZE

Operators in the solar power industry own and operate solar-power generating facilities in the form of either photovoltaic panels or solar thermal power stations. Operators then sell the energy to downstream customers. The industry has seen exorbitant growth over the past five years, with revenue gains averaging over 83% per year. As a result, revenue in the industry reached approximately $1.1 billion in 2015.




Industry revenue growth has been primarily driven by an increase of Solar PV global capacity, which has risen from 3.7 Gigawatts in 2004 to 177 Gigawatts in 2014, an increase of over 4,600%.



The products and services provided by the solar power industry depend on the firm and the location of the project. Different locations might require different types of technology, depending on the amount of sunlight available (measured as sunlight density). According to the Energy Information Administration (EIA), in 2014, solar PV generated 15,874 thousand-megawatt hours of electricity and solar thermal generated 2,447 thousand-megawatt hours.



Concentrating solar power (CSP) involves directing heat from sunlight, often via large curved dishes, onto a solar cell or panel. The heat is then converted into electricity through processes with different levels of efficiency. Although CSP's higher efficiency has attracted industry operators, photovoltaic power has outpaced CSP in the past five years, due largely to the rapid decline of prices and the panels’ increased efficiency.


PV SOLAR ENERGY

PV Solar currently generates approximately $946 million in annual revenue for the overall solar industry. In the next two years it is estimated that solar growth in the US could increase by 25 GW. The market is expected to grow as the price continues to drop at about 20% per year for PV solar panels. While PV solar is a peak source of power, there is current research to develop grid battery storage facilities that would enable PV solar to become a baseline power source. The expected rapid closure of coal facilities will add pressure on the government to fast-track clean and renewable baseline producing projects. The immediate growth of PV solar is unprecedented, but the future growth of PV solar requires the combination of efficient grid battery storage and other base-line production in order to replace the current fossil fuel supply.

Photovoltaic (PV) power relies on solar cells to directly generate electricity from the sun's energy. PV panels are suitable for individual and commercial use because they are easily attached to buildings and offices. However, large-scale PV systems are capable of generating energy for transmission to utilities and for use in industrial activities. In the past, the relatively high cost of solar photovoltaic technology and its dependence on weather conditions have restricted its use in the United States. However, the price of silicon has dropped significantly over the past five years, decreasing the production cost of solar panels. Additionally, PV panel manufacturers are producing panels with greater energy efficiency. The industry owes much of its explosive growth to PV, a trend that is expected to continue in the following years: the EIA estimates that utility-scale solar capacity has increased by about 40% between year-end 2013 and year-end 2015, with PV capacity accounting for about 85% of that growth.

GFE recognizes renewable energy and how PV solar is expected to replace peak power needs now and in the future, with the development of lower cost power storage systems. It is anticipated that the US will install approximately 100 GW (or 100,000 MW) of new PV solar power in the next 6 years. (See PV Installation Growth Chart on following page). GFE believes that as a result of these resource characteristics and market drivers, PV solar energy sites will become highly coveted renewable energy sources.




GFE is engaged in national and international agreements to use and provide to other PV developers state-of-the-art solar products. GFE can generate not only everyday renewable energy, but provide energy solutions for unique conditions; e.g., rural, isolated, or island nations, where other power generation facilities are not available or until now not feasible. Additionally, it has been proven that adding a power storage system to certain aging power grids can increase the useable life of power infrastructure.


BATTERY STORAGE—PV SOLAR PRODUCED ELECTRICITY

Battery storage systems now can be viable in certain situations where grid stability is needed, where local or state regulation mandate a certain amount of stored energy, or where the cost of power is very high because of dependence on outdated diesel generators. Development of efficient, affordable grid battery storage capability will spur the future growth of PV solar. Energy storage from solar power generation will then convert PV solar from a peak supplier of electricity to a base-line producer, making solar that much more capable of replacing the current fossil fuel supply. Of course, the added benefit will be electricity produced with a clean, renewable resource. GFE through its R&D will be doing its part to contribute to this progression.


DEFINITIONS

Photon— a particle representing a quantum of light or other electromagnetic radiation. A photon carries energy proportional to the radiation frequency but has zero rest mass.

Photovoltaic— Solar cells, also called photovoltaic (PV) cells by scientists, convert sunlight directly into electricity. PV gets its name from the process of converting light (photons) to electricity (voltage), which is called the PV effect.

Polysilicon   is a hyper pure form of silicon and is the earth's second most abundant element. Due to its semiconductor-like material properties, polysilicon is used as feedstock material in most solar energy applications. Polysilicon is an initial building block for the process of manufacturing silicon based Solar PV.

Solar Farm—solar farm is a term commonly used to describe a collection of photovoltaic solar panels. There is no official number of panels installed or acres of land used that qualify a project as a solar farm, though a peak output of one to five megawatts of power has been cited as a common standard.

Solar Park— A photovoltaic power station, also known as a solar park, is a large-scale photovoltaic system (PV system) designed for the supply of merchant power into the electricity grid.


OUTLOOK

GFE continues to increase its Photovoltaic holdings. In light of national and international projected growth in the double digits for various products and technologies, with increasing pressure in the US as it moves towards energy independence, the market demand for advancing technologies with increased efficiency will play an increasing role in the clean and renewable sector. GFE has been working within the appropriate scopes of advanced technologies, combining increased efficiency with cost effectiveness to provide a strong return on investment (ROI) for all involved, and has national as well as international agreements and distribution contracts in place for short and long-term growth.


STATEMENT

The GFE executive management and project teams will continue to increase the Company’s PV solar capacity and resource base in order to provide clean and renewable resources to top retail utility providers. Our contribution will further reduce the carbon footprint of fossil fuel-based power production while conserving and protecting valuable clean water resources.



Studies


Strong Future Forecast for Renewable Energy

Wind, solar and other forms of renewable energy could be the fastest growing power sources over the next few decades

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Institute for Policy Integrity

Annual Energy Outlook Projections and the Future of Solar Photovoltaic Electricity

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2016 Industry Outlooks

Key opportunities, trends, and challenges

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Solar Generation Has a Bright Future

solar power has started to grow rapidly and is projected to reach 18,000 megawatt hours per day...

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INTERNATIONAL ENERGY OUTLOOK 2016

The International Energy Outlook 2016 (IEO2016) presents an assessment by the U.S. Energy Information Administration

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