Stanford University has won the MIT Clean Energy Prize for their design to increase the efficiency of solar photovoltaic panels.  The nationwide competition was started by MIT, the U.S. Department of Energy and NSTAR to promote development of clean energy solutions.

According to the Business Wire press release, “the design is a carbon nano-based transparent electrode that will increase the efficiency of thin film photovoltaic solar panels by allowing up to 12% more sunlight to penetrate the panels.  The electrode, a conductor through which electric current is passed, is also less expensive, more lightweight and flexible than electrodes made out of conventional materials.”  The design was created by a team of PhD chemical engineering students from Stanford called the C3Nano Inc.

The C3nano team was selected from over 65 entries.  Teams are judged for their technology’s potential to enhance photovoltaic systems.  Photovoltaic systems are one of the fastest growing energy technologies.

The competition is now in its third year and has helped launch over a dozen businesses that have raised more than $65 million from private investors and the government agencies.