The electric power industry is one of the world’s largest industrial segments, with annual revenue of approximately $1.06 trillion in 2004, according to Datamonitor. Global electricity demand has grown consistently at a rate between 2% and 5% annually for the past decade, according to the Energy Information Administration of the United States Department of Energy, or EIA. Worldwide demand for electricity is expected to increase from 14.3 trillion kilowatt hours in 2003 (implying an average selling price of $.075 per kilowatt hour) to 26.0 trillion kilowatt hours by 2025, according to the United States Department of Energy’s International Energy Outlook. New investments in generation, transmission and distribution to meet growth in the demand for electricity, excluding investments in fuel supply, are expected to total roughly $10 trillion by 2030, according to the IEA.
For the sake of comparison, the total world demand for electrical energy of 14.3 Trillion KW Hrs/year would involve the annual solar irradiance on a piece of desert land near the equator of approximately 85 Km on a side and assuming the CIO panels were used with 30% efficiency the entire world electrical demand could be met with panels covering a similar square of 155 Km on a side. Assuming that such panels could be manufactured for $1/Wp and that for each 1 Wp a total of 2 KWHrs/yr of electricity is derived then all of the panels required to generate present total world electricity needs of $14.3 T KWhrs/yr could be produced for $7.1 Trillion. Amortizing this over the 30 year life of the panels would give $0.016/KWhr.
Our Growth Strategies
Quantum Solar Power Corp. intends to be a manufacturer and marketer of solar panels based on the unique and patent pending solar technology. Multiple solar panels each of approximately 1 square meter in size will be used by customers to create large arrays of electricity generating capacity, when combined with other products will allow for the creation and transmission of electricity either for consumption by the owner or for selling to a utility. The process for manufacturing is based on known techniques in nanotechnology including guided self assembly and bottom up processing. It is expected therefore that in comparison with semiconductor patterning techniques which are used in standard solar cell manufacture that the capital equipment will be less expensive to purchase and to operate and that operating yields will be improved thus contributing to lower per panel costs.
QUANTUM SOLAR POWER(OTC BB: QSPW.OB)
Form 8-K/A for QUANTUM SOLAR POWER CORP.
Entry into a Material Definitive Agreement
ITEM 1.01 ENTRY INTO A MATERIAL DEFINITE AGREEMENT
On December 14, 2009, we entered into an agreement with Canadian Integrated Optics (IOM) (Limited), an Isle of Man corporation, wherein we agreed to purchase all of their solar cell technology in consideration of 71,500,000 restricted shares of common stock. As part the transaction, Desmond Ross will return 47,000,000 shares of our common stock that he owns to treasury. Closing of the transaction will occur shortly.
In the Form 8-K filed with the SEC on December 16, 2009, we incorrectly identified Canadian Integrated as Canadian Integrated Optics (IOM)(Limited) when in fact the correct name should have been Canadian Integrated Optics (IOM) Limited. This amended Form 8-K is intended to correct the foregoing name discrepancy.