Magnolia is working in several directions to help drive the cost of solar power down to achieve parity with power delivered by the electricity grid. In pursuing this quest, we use revolutionary photovoltaic solar cell device designs and methods of manufacturing.
There are wide disparities in the consumption of electric power among the countries of the world. In the United States we consume about 12,900 kilo-Watt-hour (kWh) electricity per capita annually. In contrast, that number is about 2,175 kWh in China and about 465 kWh in India. As we pursue grid parity in solar photovoltaic technology, we seek to help provide electricity to the about two billion people in the world who do not have access to electric power at present with a viable alternative. Our quest is help reduce these wide disparities in electricity consumption.
We believe that as disparity in electricity consumption is reduced, increases in power consumption will help improve economic life for people who have no or limited access to electric power.
We seek to be a part of the many forces in the world that are working towards improving economic life in the developing parts of the world. We aim to help accomplish this goal while reducing dependence on fossil fuels and helping to reduce carbon emissions by providing a low-cost, high efficiency modular source of electric power that is at par with what the cost for electricity is in most of the developed world.
In addition to developing economically viable commercial products, Magnolia is also seeking to develop solar cell products for military ground forces, avionics and space systems.