Description of the BusinessThe company Solar Intercontinental (SOLARIC) Ltd. is a Private Limited Company, registered under Joint Stock Co. Bangladesh. It is a high-tech company with the primary objective to innovate new technologies, products and packages in the area of renewable energy and marketing in Bangladesh, as the primary market and then export to other countries worldwide as secondary market. Solar Micro-inverter for Off-grid Solar applications, the first and only practical solution available in the world, is the core technology to be used for these products. This ground-breaking technology is developed by Power IC Ltd. a Bangladeshi Research and Development Company, offers significant Cost savings (as much as 50%), Energy savings (as much as 90%) and Long Life (10 times).
BackgroundEnergy crisis and Environmental pollutions are two of the most important issues in the world now. Bangladesh along with most of the developing countries is the victim of these crises. Bangladesh being a low income country and having least possible proven mineral resources, struggling from the beginning to meet the growing energy demands. The shortfall between the demand and supply has been sky rocketing in the last few years as the purchasing power of the rural and middle class is growing due to influx of foreign remittances. The quest for alternative source of energy and the thrust for energy conservation are the inevitable outcome of this crisis.
Realizing these facts, Power IC Ltd. devoted itself since 2008, in the research of developing a new technology to address the need of the time, namely affordable Solar solutions and Conservation of Energy. The concentration was on the applications of solar energy and making it commercially viable for domestic and commercial uses and reducing environmental pollutions. After one and half years of research, the company successfully developed “Micro-inverter for off-grid Solar” which dramatically improves the efficiency of Solar system and reduces the end-user cost by as much as 50%. Built-in features like Intelligent Power Tracking (IPT), Efficient Power Management and the use of innovative new appliances like Energy-saving Fan and LED Lights, the power consumption can also be reduced by 90% and thereby reduce the system cost dramatically.