Japanese Oil Company Invests in Solar

Oil companies have discussed moving into clean energy for several years. Some have made a real commitment to this by investing in alternative energy technologies while others have spent more on marketing themselves as “green”. The Wall Street Journal wrote about a Japanese oil company who has invested in solar cells as a way to shift their business model from refining oil. Showa Shell Sekiyu is the parent company of Solar Frontier.

“We know that the oil industry is not disappearing today or tomorrow. But if we don’t take this chance on solar now, we feel like we won’t get another chance,” says Shigeaki Kameda, Solar Frontier’s chief executive.

Solar Frontier is focused on CIS cells opposed to silicon based cells.

Solar Frontier specializes in thin-film CIS cells, which are made from copper, indium and selenium. They cost less to make—and buy—than thicker silicon-based crystalline cells, which are more efficient at converting light into electricity.

But the thin-film sector is expected to grow faster as its energy efficiency improves and mass production pushes costs lower still.

Read the full article here: Japanese Oil Company Looks to the Rising Sun

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