There are many ways to harness the power of the sun, several of which are far simpler than the chemically complex photovoltaic panels
that we are all familiar with in today’s green economy. For example, the sun’s heat has been harnessed for years to warm up water supplies and can even be focused with mirrors to create steam
to power electricity-generating turbines. EnviroMission Limited is also harnessing the sun’s heat to run turbines; but instead of water, they are heating up the air in their Solar Tower power plant design.
The Solar Tower is fairly simple in its general function. It works by gathering the sun’s rays to heat up the air in an airtight canopy. The hot air then rises through a tall cylindrical tower at the center of the canopy. As everyone knows, heat rises, and as the hot air in the tower rises from bottom to top, it spins a series of turbines, thus creating electrical power.
The first installation of the Solar Tower power plant is set to debut in the deserts of Arizona in the United States. A single 200 Megawatt power station can produce enough clean renewable energy to power 100,000 homes, and is the carbon equivalent to removing 220,000 vehicles from the roads.
Acuity Technology Management has assessed the Solar Tower design and has placed a value of $60 million on the intellectual property and development rights, as well as commercial viability.
"This valuation represents an independent assessment of the value of EnviroMission's enhancements to Solar Tower technology, new intellectual property, know how and commercial prospects and outcomes such as the recent Power Purchase Agreement to sell electricity generated from the proposed Arizona Solar Tower to the Southern California Public Power Authority (SCPPA)," said Roger Davey, EnviroMission Chief Executive.
As solar energy solutions progress, new, seemingly simple designs will become the most profitable. Photovoltaic cells remain expensive, and the embodied energy and lifespan of solar panels leave consumers questioning their economic feasibility. Turbines, on the other hand, are an age-old technology that is relatively simple to build and maintain. EnviroMission Limited may have their hands on something here. Investors… start your engines! I mean turbines!
Source: EnviroMission Limited