Abound, a small, privately held US start-up, is taking on industry giant First Solar. What’s more, they think they can win. Like First Solar, Abound makes cadmium telluride solar panels. First Solar has managed to reduce the cost of its solar power to 98 cents per watt. According to Reuters, Abound thinks it can do better:

We think we have a slight technological advantage over First Solar," Chief Executive Pascal Noronha said in an interview. "And by the way I think very highly of First Solar."

Abound’s manufacturing process, Noronha said, is completely automated and continuous, allowing the company to convert sheets of glass into solar panels in less than two hours without human labor.

Abound believes it will equal First Solar in terms of cost-per-watt within three months, and then expects to do even better. We’ll have to see if they can live up to their promises, and if First Solar can keep up!