New Cheap Solar Cells

A major European chip maker said this week it had discovered new ways to produce solar cells which will generate electricity twenty times cheaper than today's solar panels.

STMicroelectronics, Europe's largest semiconductor maker, said that, by the end of next year, it expected to have made the first stable prototypes of the new cells, which could then be put into production.

Most of today's solar cells, which convert sunlight into electricity, are produced with expensive silicon, the same material used in most semiconductors.

The French-Italian company expects cheaper organic materials such as plastics to bring down the price of producing energy. Over a typical 20-year life span of a solar cell, a single produced watt should cost as little as $0.20, compared with the current $4.

The new solar cells would even be able to compete with electricity generated by burning fossil fuels such as oil and gas, which costs about $0.40 per watt, said Salvo Coffa, who heads ST's research group that is developing the technology.

"This would revolutionize the field of solar energy generation," he said.