Advanced Solar Products

Innovation in Energy Storage

Unnamed

Authors

Justin Joo

Justin Joo

andrew duarte

andrew duarte

Sohil Patel

Sohil Patel

Qinyuan Pu

Qinyuan Pu

School

Rutgers Business School

Rutgers Business School

Professor

Joe Markert

Joe Markert

Global Goals

7. Affordable and Clean Energy 8. Decent Work and Economic Growth 11. Sustainable Cities and Communities 12. Responsible Consumption and Production 13. Climate Action

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Summary

The innovation is in their solar energy storage in photo-voltaic batteries. It helps solve many of the goals such as Climate Action because it provides longer lasting renewable energy and decreased reliance on fossil fuels.

Innovation

The innovation is increasing energy storage efficiency. This is going to be wherever the company is installing their panels with their innovative batteries. One of the biggest issues with solar energy and electricity in general is the storage of excess energy to be used when their is either excess energy or the source cannot currently be used.

Specifically with Climate Action this will make the world better due to the fact with increasing storage of solar energy the less humans have to rely on fossil fuels for power. The environment would then be cleaner and animals and poorer nations affected most by pollution could live more clean lives.

Innovation in Energy Storage

Inspiration

The CEO's inspiration was that they were one of the founding leaders within the solar energy division in the Eastern United States starting in the early 90's. The CEO stated "The current environment was one sufficient for the development of the technology and ability to scale," and that it is their "duty" to keep up with research and development to keep up to help against climate change.

Overall impact

The overall impact of this innovation is that in the short term will continue to provide many Americans cost savings and less reliance on fossil fuels as much as they can. This can be seen with the amount of customers the have.

Some long term affects are more sustainable communities and relief in times of natural disasters. This can be seen as Advanced Solar Products is taking part in an initiative called Power on Puerto Rico. With their support and other energy companies, ASP is trying to restore power to the 40% of Puerto Ricans affected by Hurricane Irma.

Business benefit

The employees of Advanced Solar Products have great motivation to be working for Advanced Solar Products. Employees have a sense of achievement because they are driven to improve the product and feel they are giving back to their community with renewable energy. The CEO has great pride in being one of the oldest companies in the northeast for solar energy and wants to maintain its success. External rewards such as profit are also incentives to keep further developing and maintaining an edge on competitors. With the renewable energies market booming and growing, there are also many more opportunities opening up.

Social and environmental benefit

Society will benefit from overall costs of energy once its efficiency is at a good level. This will happen once the batteries can store huge amounts of energy and decrease the reliance on coal powered plants. Advanced Solar is constantly researching and has proven it can help other countries as well.

The more the company expands and more customers they build, the more they can accomplish. The environment will be healthier and communities can thrive. With cheaper energy more can be done for those in need.

Interview

Lyle K. Rawlings, President, CEO, Mr. Lyle Rawlings

Business information

Advanced Solar Products

Advanced Solar Products

Flemington, NJ, US
Year Founded: 1991
Number of Employees: 51 to 200

Advanced Solar Products is an innovative solar energy company. They are thriving to install solar panels and networks to both residents and commercial businesses.