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SMALL BUSINESS
The Solar Power Paradox: Alternative Energy Can’t Run on Oil
Chief Executive Officer Dr. David D. Lee and Chief Technology Officer Dr. Stanley B. Levy of BioSolar, Inc. (OTCBB: BSRC) explore the fundamental contradiction of using petroleum-based products in the manufacturing of solar power systems in a co-authored article appearing in the October edition of AltEnergyMag.com titled, “The Solar Power Paradox: Alternative Energy Can’t Run on Oil.”
“As demand for alternative energy increases and green technologies progress at an unprecedented rate, the solar industry has undoubtedly taken massive strides toward making the world a greener place…The reality remains that the manufacture of PV solar modules (like many green renewable energy sources) is heavily petroleum dependent, presenting a fundamental contradiction in the green energy movement,” note the authors. “Traditional backsheets, the protective film underneath solar cells, are produced mainly from polyester and Tedlar films. Polyester is made from petroleum and Tedlar is solvent-cast using DMAC, a highly toxic industrial solvent. Both of these products defeat the purpose of clean, green energy, and as the demand for solar energy increases, so does this issue.”
BioSolar is leading a movement to make “green” technologies more environmentally-friendly and cost-efficient by developing natural, non-toxic alternatives to petroleum-based products used by solar manufacturers today. Its proprietary line of BioBacksheets™, made from renewable plant sources rather than petroleum, can meet or exceed the performance standards for the PV industry and are expected to cost less than traditional petroleum-based backsheets.
“Significant cost reduction of all PV module components is required in order to attain grid parity,” the article states. “Bio-based backsheets have a definite edge over traditional backsheets because of their potential to cost less, reduce dependency on petroleum and protect the environment – a priceless benefit.”
“By 2015 most solar panels will be in lower price ranges and this is when the backsheet costs become an issue… we found that no matter how green the material is, if the cost is high, it won’t be successful,” said Lee in a recent interview with The Solar Energy Press.
About BioSolar, Inc.
BioSolar, Inc. has developed a breakthrough technology to produce bio-based materials from renewable plant sources that will reduce the cost per watt of solar cells. Most of the solar industry is focused on photovoltaic efficiency to reduce cost. BioSolar is the first company to introduce a new dimension of cost reduction by replacing petroleum-based plastic solar cell components with durable bio-based materials. To learn more about BioSolar, please visit our website at http://www.biosolar.com.
Safe Harbor Statement
Matters discussed in this press release contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. When used in this press release, the words "anticipate," "believe," "estimate," "may," "intend," "expect" and similar expressions identify such forward-looking statements. Actual results, performance or achievements could differ materially from those contemplated, expressed or implied by the forward-looking statements contained herein. These forward-looking statements are based largely on the expectations of the Company and are subject to a number of risks and uncertainties. These include, but are not limited to, risks and uncertainties associated with: the impact of economic, competitive and other factors affecting the Company and its operations, markets, product, and distributor performance, the impact on the national and local economies resulting from terrorist actions, and U.S. actions subsequently; and other factors detailed in reports filed by the Company.