4 Solar Companies that Could Steal the Spotlight

Solyndra

Using proprietary cylindrical modules and CIGS (Copper Indium Gallium Selenide) thin-film technology, Solyndra claims that it can provide the lowest system installation costs on a per-watt basis for the commercial rooftop market.

The company made headlines last year after it was announced that it would be the first company to receive an offer from the DOE loan guarantee for a $535 million loan.

Beyond the DOE loan, Solyndra has raised about $800 million in private equity, making it one of the most capitalized startups in history; the company has a ton of contracts, and its backlog passed $2 billion last year.

The company actually has an IPO planned, although last month, PricewaterhouseCoopers suggested that there was substantial doubt about Solyndra's ability to continue as a going concern.

While this is not uncommon for startups, the news didn't bolster support for the IPO. And because the company has landed so much funding, the bar has been raised. We'll see how it pans out.

Solar City

Solar City provides solar power system design, financing, installation, and monitoring services for homeowners, businesses, and government organizations.

In an effort to provide an affordable solar option for its customers, Solar City offers a solar lease program where a large upfront payment is not necessary. It also allows consumers to lock in on one rate, while utility rates continue to climb year after year.

This is a winning formula for expanding residential solar, and Solar City has garnered a lot of attention over the past year or so.

The company serves more than 500 communities in Arizona, California, Colorado, Oregon, and Texas.

Just two months ago, it created a $90 million fund with U.S. Bancorp to finance solar projects. In total, the two have collaborated on three separate funds to finance nearly $200 million in solar projects in the U.S.

Solar City also landed $60 million in financing for solar installations with Pacific Venture Capital, a subsidiary of PG&E.

It is not unlikely that this could be one of the most popular solutions for consumers wishing to go solar.

Nanosolar

Nanosolar is a developer of CIGS technology. The company has raised more than a half billion dollars, and last year began mass producing its CIGS solar cells and assembling them into modules at its German facility.

A couple of years ago, Nanosolar was getting a lot of media attention. However, reluctance to share data on its production processes and costs raised a few eyebrows.

But last September, the company issued two white papers about its technology, and also revealed some of the customers that contributed to its $4 billion worth of contracts.

Today, Nanosolar claims a solar cell efficiency of 16.4 percent (in the lab), which has been confirmed by the National Renewable Energy Laboratory.

Still, like Solyndra, a lot of faith and capital has been ponied up for this still somewhat mysterious solar outfit. So expectations are high, and skepticism remains strong.

We'll know more about how this one pans out later this year.

eSolar

eSolar is a developer of concentrating solar power (CSP) systems.

Using small, flat mirrors, heat from the sun is reflected to a tower-mounted receiver that boils water to create steam. The steam then powers the turbine.

This particular system is developed using mass-produced components and is designed for rapid construction and scalability. Essentially, this is a "pre-fab" CSP that allows for design and manufacturing efficiencies which offer significant cost savings.

The company made headlines earlier this year after it announced that it would be licensing its technology to Chinese electrical power equipment manufacturer, Penglai Electric. Penglai expects to build 2 gigawatts of CSP plants in the next ten years.

While eSolar does currently boast a 5 MW plant in Lancaster, CA, it's now focusing primarily on equipment manufacturing and licensing its technology. The feather in eSolar's cap is its software, which allows for the movement of its reflective mirrors (heliostats) so that the production of the heat is optimized.

eSolar was included in MIT's Technology Review's list of the world's most innovative companies.