- Three Sixty Solar (VSOL) released a report to shareholders on the benefits and durability of its solar tower
- For 16 months, the tower experienced a severe storm, bringing wind gusts in excess of 120 km/hr along with intense rain and hail
- With a market cap of C$26 million, Three Sixty Solar (VSOL) designs, manufactures and sells innovative solar equipment to the global marketplace
- The company recently hit its peak in January at $1.29 per share. Year-to-date, VSOL stock has risen nearly 15 per cent
The company touts “distinct benefits inherent in tower design.”
Three Sixty Solar Ltd. (VSOL) released a report to shareholders on the benefits and durability of its solar tower over the past 16 months.
Highlights:
- Durability – Tower and Panels remained in as-built condition
- Weather Resiliency – Zero damage observed from 120+km/hr winds, snow, hail, or rain
- Snow Shedding – Vertical positioning of the panels allowed all snow to slough off the tower
- Reduced Maintenance – Zero power loss due to soiling of panels
These conclusions were based on an internal study by the company on its demonstration tower in Kelowna, British Columbia.
The tower was built back in October 2021, and its panels have been in the Canadian elements for a total of 16 months. During that time, the tower experienced a severe storm, bringing wind gusts in excess of 120 km/hr along with intense rain and hail. The company cited a Global News report about a storm in the region that left thousands without power and closed schools during that time.
The tower was constructed to withstand wind, seismic and related structural loads with a vertical elevation of up to 36.5 metres and solar-generated electrical output of up to 250 kW – which is over 300 per cent of the current maximum tower design.
With this new model, Three Sixty can install 1 MW of rated power using four towers occupying less than 930 sq. metres. This equates to less than 5 per cent of the land required for a typical ground-mount solar installation.
The company believes the tower will expedite its goal of deploying 500 MW of power over the next five years.
In January 2023, soiling tests were conducted, and the voltage and current were measured on panels before and after cleaning. After cleaning, no change was measured to either the voltage or current, indicating that there had been no power loss due to the soiling of the panels after more than one year of being on-site.
In a media release on this news, Brian Roth, Three Sixty’s CEO, said these highlights support something that he has believed for a long time – this tower design has more benefits than just the potential to use up to 90 per cent less land.
“Reducing maintenance has the potential to reduce the operating costs and improve the economics of a project. I am very pleased with how the tower has held up in the Canadian environment.”
In a previous update, he noted that “Installing more power on fewer towers and in less space enables us to simplify the electrical systems, reduce costs and improve efficiencies for our customers.” he went on to say, “larger format also enables us to integrate more utilities inside the tower, including heavy-duty battery storage systems, telecommunications equipment and more.”
With a market cap of C$26 million, Three Sixty Solar (VSOL) designs, manufactures and sells innovative solar equipment to the global marketplace.
The company recently hit its peak in January at $1.29 per share. Year-to-date, VSOL stock has risen nearly 15 per cent.