Heliogen invests in creating alternative energy solutions from photovoltaics (PV). Photovoltaic panels generate electrical power by converting solar radiation into electricity.
This electricity is converted into a standard household or commercial supply and may be consumed immediately, stored in batteries or, subject to the requirements of the local utility, be fed back into the grid. In the case of electric cars and other vehicles, electricity generated by PVs can be immediately used for recharging the vehicles.
Photovoltaics is the fastest growing power-generation technology world-wide.
Additionally, technological and manufacturing advances have steadily reduced the cost of photovoltaics while increasing its efficiency, thus ensuring its global adoption. World solar photovoltaic (PV) market installations reached a record high of 7.3 gigawatts (GW) in 2009, representing growth of 20% over 2008.
Looking forward, conservative scenarios still estimate that the global market will be 2.5 times its current size by 2014.
How it works - A brief insight into PV cells: