Solar panel called the "eArc"

Consumers could potentially see their power bills drop within years if Australia's latest bet on solar energy pays off. Key points: Taxpayers by extension of the money invested will own 14 per cent in Sunman The company has developed a new type of flexible solar panel The founder of the company Dr Zhengrong Shi is an Australian Chinese national With Australia-China relations showing no clear signs of improvement, the government-owned Clean Energy Finance Corporation (CEFC) has poured $US7 million ($9.6m) into a Shanghai-based company called "Sunman". This means taxpayers, by extension, will own a 14 per cent stake in Sunman, which also has offices in North Sydney and Hong Kong. The little-known company was founded in 2015 by leading solar scientist, Dr Zhengrong Shi, nicknamed the "Sun King" as he is widely regarded as a pioneer in the industry's development. Dr Shi has invented a new breed of solar panel called the "eArc" — which the CEFC's chief executive, Ian Learmonth, is betting will be "the next big thing" in the industry's evolution. Essentially, these are lightweight solar panels that Sunman says are "revolutionary" and can be glued "onto any surface". In contrast, traditional solar panels (made of heavy glass) can only be placed on flat rooftops, and often need holes to be drilled into rooftops during installation. "Already, we've got an incredible uptake of solar rooftops — there are 2.4 million roofs in Australia with conventional panels on," Mr Learmonth told the ABC. "I see this particular innovation in solar panels playing a huge role ... we're now going to open up a whole new market. It's very exciting." Dr Shi is the majority shareholder of Sunman, while Sydney-based private equity firm Southern Cross Venture Partners also has a significant stake. What is the eArc? Sunman says its eArc panels weigh "70 per cent" (or 14-17 kilograms) less than than traditional glass panels — since they are made from a plastic-like "polymer composite". This means they can easily be bent, making them easy to install on curved roofs, walls and even the tops of trains and caravans (or RVs). "Our technology will revolutionise the way Australians approach solar and save them money on energy bills," Dr Shi said. He also estimated that 40 per cent of commercial roofs are structurally "slender" and unable to "accommodate the weight or uplift of glass solar modules". Unbeknownst to many, these "new age" eArc panels have already been installed at some iconic Australian locations (and some that aren't well known). One of the better-known landmarks is the Australian National Maritime Museum.