If one goes down, they all go down: I’m talking about solar panels and the way they work – or don’t anymore – when lined up. There are various reasons they could stop functioning: an apparently harmless thing as a cloud shading just one of them is enough to affect the performance of the rest. Yes, they are that sensitive!
Bearing in mind the fact that every problem has its solution, the London-based investment firm Generation Investment Management charged Tigo Energy from California to find it. Tigo Energy is supposed to be just the right company for the job, given that its employees maximize the individual performance of the modules, increasing the safety of any type of solar arrays.
All this can apparently be handled remotely, without actually changing the panels: their circuitry assesses their performance, locates the problem and fixes it. The success rate is so high that they even registered a 20% improvement on an array of panels.
Based on these prospects, Tigo is being given a considerable sum of money: $10 million in additional equity capital from Generation Investment Management on top of the $10 million credit line Tigo had secured by its accounts receivable. This estimates the company’s capital to a new $50 million. Without resting on its laurels, Tigo plans to invest some of the funding in manufacturing, international sales and logistics capabilities.
[via The Wall Street Journal]