SolarReserve Receives Edison Award for Solar Thermal Energy Storage Technology

published: 2015-04-28 10:52 | editor: | category: News

SolarReserve, developer of Ivanpah, has been named a 2015 Silver Winner for innovation by the internationally renowned Edison Awards™. SolarReserve develops utility-scale solar power projects and advanced solar thermal energy storage technology. The world-changing technology about how we generate electricity wins the company the reputation of an innovative and sustainable developer.

The Edison awards are named after Thomas Alva Edison (1847-1931) whose inventions, new product development methods and innovative achievements literally changed the world, garnered him 1,093 U.S. patents, and made him a household name. The distinguished awards recognize innovation, creativity and ingenuity in the global economy.

SolarReserve’s solar thermal energy storage technology plays a central role among today’s energy industry. As renewable energy penetration grows, the need for utility-scale renewable generation with storage technology is increasingly important to mitigate intermittency problems, deliver power into peak demand periods, and support transmission system reliability. With over 50 US and global patents, SolarReserve's proven US-developed technology generates renewable baseload and dispatchable power and can compete with traditional fossil-fired and nuclear electricity generation. The company currently has more than $1.8 billion of projects in construction and operation worldwide, with development and long-term power contracts for 482 MW of solar projects representing $2.8 billion of project capital.

"It's exciting to see companies like SolarReserve continuing Thomas Edison's legacy of challenging conventional thinking," said Frank Bonafilia, Edison Awards' executive director. "Edison Awards recognizes game-changing products and services, and the teams that brought them to the market."

"We are honored to receive recognition from the Edison Awards and its distinguished panel of judges for our success in developing and commercializing breakthrough technology that solves the intermittency issues experienced with other renewable energy sources," said SolarReserve's chief executive officer, Kevin Smith.

The ballot of nominees for the Edison Awards was judged by a panel of more than 3,000 leading business executives including past award winners, academics and leaders in the fields of product development, design, engineering, science and medical.

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