In celebration of the Inflation Reduction Act (IRA) second anniversary today, we are interviewing the leader of one Los Angeles innovative solar startup that received a catalyzing boost because of IRA.
Scott Graybeal serves as CEO at Caelux, a pioneer in utilizing perovskites to make solar energy more powerful and cost-effective, enabling the next generation of solar innovation. He is a veteran executive who previously led the Energy Solutions Segment at Flex Ltd (NASDAQ: FLEX), a $2B division within the company serving the solar, energy storage, and LED lighting markets. Under his leadership, Flex Energy Solutions grew 700%, became the #3 producer of PV modules outside of mainland China, and patented several key solar manufacturing innovations.
In the recent article “Celebrating Progress and Charting the Future as IRA Turns Two”, the Caelux team reflects on what the future holds for their field and the development of US-based renewable energy technology.
In today’s Q&A, Scott shares more about what his company is working on from Los Angeles, and why he’s excited about the upcoming developments that will help to move the solar industry forward.
Q: You have a deep history in renewable energy, and the solar industry specifically. Could you share more about your background and how you came to lead Caelux as CEO?
Scott: I’ve been in the solar industry for about sixteen years but focused mainly on operations and commercial facets of the business. Caelux is a pioneer in the emerging field of perovskites which make powerful yet low cost solar cells. The products we produce require a lot of skill and my background is in scaling hard-tech businesses by working with people to get the most out of their talents.
My background is not special, but does have a mix of chemistry materials science, finance, and engineering which helps me best to work with very talented people and understand what they are saying.
A CEO is a problem solver and decision maker. I would like to think that I am technical enough to comprehend the issues and smart enough to know that I don’t have all the answers. I am a naturally curious person and like to get to the root cause of problems and align resources to overcome those obstacles. To me, that is really what strategy is about: aligning resources to meet objectives and I think I am pretty good at that.
Q: What is your personal motivation for working in the climate tech field?
Scott: I think we all have an obligation to leave the world in a better place than you found it. Some have a calling to teach or to heal people; I think mine has been to work on tough problems that can have major impact on people in a different way. I like the fact that we work on getting more energy out of solar and doing so more cost effectively than other approaches.
Q: As someone who has seen the solar industry come of age over several decades, what do you think the next wave of solar innovation will bring?
Scott: Ubiquity. I think the advancements in materials science and production will usher in a new phase of the industry which will eventually allow us to use a small printer to reliably produce solar cells that can be put on your roof or used to build an inexpensive community solar plant with low cost, abundant materials in the poorest parts of the world. This same technology can eventually be used in space. As a Gen-Xer, I think about the future where we have more people in space full time and how important self-sufficiency is in that context. “Solar array took a micro meteorite? No problem. I’ll print out another array and install it on my next space walk.”
Q: Why is solar energy such a key factor to impacting climate change in a timeline that is critical?
Scott: Today, solar is the cheapest form of electricity but it can be cheaper and more efficient. Climate technologies like direct air capture, where CO2 is removed from the air and converted into usable materials and green hydrogen production require cheap, green electrons. The best path to provide those electrons are (1) perovskite based tandem solar modules and (2) long duration energy storage. In combination, solar & storage, provide the safest and most realistic pathway to sustainable energy while cleaning up the environment.
Q: How does the technology that your company manufactures, perovskites, impact the growth of solar?
Scott: It’s an accelerator. Today there are challenges on both sides of the economy: supply and demand. While there is a manufacturing overcapacity situation in China, those that build solar projects will tell you, particularly in the US, there is a dearth of available, qualified products because of various policy barriers. For example, America has a prohibition on poly silicon produced by certain sources in northwestern China due to forced labor concerns. Additionally, spacious tracts of land are diminishing in light of NIMBY (not in my backyard), higher interest rates are putting pressure on the ROI for large projects and construction costs have increased. On the demand side, data center growth is way up, electrification of everything from transportation to cooktops and new climate technologies are fueling demand. Perovskites make traditional solar better by boosting power, increasing energy harvest and lowering installed costs; as a result we make solar more cost effective and deliver higher returns to large scale project developers and consumers alike.
Q: As a Los Angeles-based business, could you discuss your company’s work with the community to grow renewable energy jobs and contribute to the green economy locally?
Scott: Our policy team has done a great job in establishing relationships with key civic partners working with veterans groups, private and public institutions to help find the best people we can to support our growth. Contribute to the green economy? We have over 70 people working in the green economy at Caelux. You cannot get better direct impact than that.
Q: What’s next for your company in terms of goals to achieve by the end of 2024?
Scott: Continue to scale production in our LA based fab and show the world that perovskite based solar technologies will be commercialized sooner than anyone thinks.
For more information on Caelux, visit www.caelux.com or connect on LinkedIn.
