An Irish company today launched what has been described as the most efficient solar panel ever produced.

Surface Power in Co Mayo said it plans to create 20 new jobs over the next 12 months with the launch and international distribution of its breakthrough product.

Independent Certification by TUV Rhineland - the world’s leading testing house - has shown that when compared to other leading solar panels the Irish developed panel was in one case as much as 131% more efficient in morning and evening time and 76% more efficient at midday.

Surface Power said the product, which has undergone six years of development and testing, has the potential to reduce domestic and commercial hot water bills by up to 70% if insulation standards meet new building regulations.

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Company founder John Quinn believes that having a very good product result will help drive growth and jobs for the company in 2009.

"The market for the solar collector was worth in excess of one billion dollars in 2008 and has grown by 300% since 1998. We received over 400 enquiries from the USA alone last month after the specifications were released during the Christmas period," he said.

"We also expect the international home renovation market to be very strong during the next three years, as our collector is the only pre-packaged vacuum collector on the world market. This leads to quicker, simpler and cheaper installations," added Mr Quinn.

According to Mr Quinn solar panel has been compared to 52 other collectors which hold the prestigious Solar Keymark certification.

"The biggest difference that was achieved in comparison results was that against flat plate collectors. It is great to see the end of a product development cycle and a huge spike in enquiries from the renovation market in Europe and USA, we have several more products in development and plan to release one per year," he said.

Established in 2003, Surface Power is targeting key world export markets for renewable Commodity products.

The Údarás na Gaeltachta and Enterprise Ireland-backed firm has played a central role in the development of the domestic Renewable sector, especially micro generation.

(PR/BMcC)