New Jersey aims to produce around 23 percent of their electricity via sustainable energy resources such as the wind and solar and these projects will be completed at the end of next decade. The Consolidated Edison Inc. and the Panda Power Funds, the energy investor for Dallas embarked on a novel million solar energy power project sited in New Jersey and this solar energy venture will be one of the largest in the country.

Panda Power Funds has preferred New Jersey since its supplies galore renewable energy and it guarantees the return on invested capital. The Con Ed Development Vice president Mark Noyes declared that, this project is will be a progressive one and it will serve as a landmark, in the history of United States. He also mentioned that, the company will bestow around 20-megawatt facilities and the plant will be operated by the Con Ed Development.

Professor Ely Sachs from Massachusetts Institute of Technology plans to commence a company called 1366 Technologies and the objective of the 1366 Technologies is to formulate an amended silicon-based solar cell, which will beat out the coal cost.

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The recent listings of Oil wells for sale and Gas wells for sale available in Solar power Investment. The 1366 Technologies has received around .4 million initially, by the Polaris Venture Partners and the North Bridge Venture Partners, the founder and the chief executive officer of the 1366 Technologies Professor Ely Sachs mentioned that, the company will blend the cell architecture of the silicon with the improved production process to yield polycrystalline silicon solar cells.

The 1366 Technologies is officiating at the Lexington, to construct its premiere photovoltaic cell production facilities and it anticipated to handle the production process at affordable cost.

Carmichael Roberts, future Chairman of 1366 Technologies and the general partner of North Bridge Venture Partners articulated that, the company is planning to construct many 100 megawatt power plants and it will start exercising the novel plans once their premiere plan gets approved.

The string ribbon wafer technology was used to enhance the solar energy product was discovered by Professor Sachs and this product was marketed by the Evergreen Solar, currently Professor Sachs has departed from the Massachusetts Institute of Technology to concentrate on the 1366 Technologies. MIT in United States has formed the solar cell architecture which can improve the surface texture and it uses metallization to enhance the efficiency of the solar energy and it reduces the cost.

The 1366 Technologies announced that, the company is planning to certify its technologies to the government delegacies and solar companies, so that they can transform the fossil based energy to the solar energy at greater pace.