BioSolar, Inc. (BSRC.OB), the developer of a breakthrough technology to produce bio-based materials from renewable plant sources that will reduce the cost per watt of solar cells, recently reported that surging oil prices have generated significant price increases in photovoltaic solar module manufacturing. This is creating a considerable opportunity for BioSolar’s proprietary technology, which dramatically reduces the cost of solar modules by replacing traditional and expensive petroleum-based components with bio-based materials derived from renewable plant sources.
Currently, the majority of the solar industry is focused on improving photovoltaic efficiency to reduce costs. In addition, solar cell demand is expected to continue to exceed supply for the next five to 10 years, creating an expanding market for BioSolar’s bio-based materials. The immediate business opportunity for BioSolar is in supplying the industry’s first low-cost, bio-based backsheets for solar cell systems.
BioSolar is currently in the process of commencing full-scale production of its core BioBacksheet™ product in a 60,000-square foot, state-of-the-art facility. The annual market for plastic components and layers exceeds $1 billion and is growing rapidly. It is estimated that the market for backsheet products alone is currently at $300 million. BioSolar is well positioned to capture market share by leveraging the significant savings associated with replacing existing backsheets with BioSolar materials, which can reduce costs by more than 50 percent.
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