Over $400 M Poured Into Thin-Film Solar Tech In One Week

August 28th, 2008 by Ariel Schwartz

This past week was an eventful one for thin-film solar companies Nanosolar and AVA Solar , which received a total of over $400 million in funding.

Nanosolar, which took in $300 million, has now raised nearly half a billion dollars of capital. The company plans to use the money to expand thin-film solar panel production at its San Jose and Berlin factories.

AVA Solar received $104 million to finish production of its 200 MW factory in Colorado. The factory is expected to start production in 2009.

Don’t think that this is the last you’ll hear about thin film solar funding—the field is projected to produce an estimated $22 billion in revenues by 2015. And with thin-film trumping crystalline silicon as a cost efficient technology, rest assured that utility companies won’t hesitate to get on board.

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