Solar photovoltaic (PV) systems are a key part of the clean energy transition, but they face a persistent challenge: overheating. When solar panels absorb sunlight only a fraction of the energy is used to generate electricity, the rest accumulates as heat, which reduces electrical efficiency and shortens lifespan. A typical crystalline silicon solar panel loses 0.3% to 0.5% of its efficiency for every 1°C increase in temperature.
Founder Tom Hoole identified an opportunity within this challenge. He realised that the excess heat accumulating in PV modules could be harnessed and repurposed, rather than wasted. Experimenting with a hydraulic press he welded together himself in his garage, he fabricated 27 MVP Coolsheet panels and turned the roof of his house into the proof of concept trial system, saving himself $1,500 p.a. on his gas heating bill. That was the confirmation he needed to start down the road of patenting the invention.
The result was the Coolsheet panel, a breakthrough design solution in Photovoltaic Thermal (PVT) technology that not only improves solar panel efficiency and longevity but also transforms waste heat into a valuable resource.
The Coolsheet™ PVT System
Coolsheet is a heat exchange panel placed on the back of solar PV modules to capture excess heat from the solar cells for useful applications such as hot water heating, industrial process heat or building climate control.
Removing this excess heat from the panel reduces the operating temperature of the PV cells, preventing the performance losses that occur when panels overheat. This can result in up to 10-15% more energy output from a solar system fitted with Coolsheet panels, across the entire 25-year life of the system. In fact, Coolsheet will extend the life of the solar panel but, more importantly, delay the impact of degradation in solar cell performance to provide further gains in energy generation over the system life.
“Heat has always been a challenge for solar panels, but with Coolsheet™, we’re turning that challenge into an opportunity. By capturing and repurposing excess heat, we’re not only boosting PV module efficiency but delivering a 2-for-1 solution by generating renewable heat within the same footprint on the roof,” said Tom Hoole, Founder and CTO of Coolsheet.
Versatile applications: from swimming pools to chocolate factories
Coolsheet™ has the potential to be integrated across a wide range of applications, from residential rooftops to large-scale industrial sites, both on new installations and retro-fitted to existing PV systems. Its ability to enhance solar efficiency while capturing usable heat makes it ideal for commercial buildings, manufacturing facilities, and even public infrastructure such as aquatic centres.
As the installed cost of solar keeps falling, whilst electricity prices keep rising, solar PV rooftop penetration continues to accelerate around the world, meaning PV modules are quickly replacing the roof space once given over to established solar thermal collector technologies. PVT, which allows for three times more utilisation of the solar resource, is set to become a major player in renewable heat as the cost of PVT solutions drops dramatically with scale deployment.
Through TRaCE, Coolsheet™ is engaging with industry partners to test real-world applications for low temperature industrial process heat such as food & beverage plants and industrial laundry sites, as well as large-scale renewable energy projects. The project will review the potential to adapt the Coolsheet™ product into a Built-In PV Thermal (BIPVT) solution for zero carbon industrial precincts.
The TRaCE R&D Project: Scaling-up manufacturing & accelerating commercialisation
As part of the TRaCE program, Coolsheet™ is undergoing further R&D under the leadership of Prof. Robert A. Taylor from the School of Mechanical and Manufacturing Engineering at UNSW. This collaboration focuses on refining performance, improving manufacturing processes, and tailoring the system for industry-specific applications. Researchers are working on understanding the impact of design and materials options for reducing weight, maximising heat transfer, increasing reliability and ensuring seamless integration into existing infrastructure. This research is paving the way for broader adoption and commercialisation, positioning Coolsheet™ as a game-changer in the PV industry.
“Our work on Coolsheet™ is about refining the materials and heat transfer mechanisms to create the next generation product performance upgrades whilst also identifying opportunities to enhance the design in a way that can both reduce cost and enable high volume automated manufacturing. This TRaCE project also provides a fabulous opportunity for UNSW’s Mechanical and Manufacturing students to get deeply involved in research and development with an emerging Australian solar manufacturer,” said Prof. Robert A. Taylor from the School of Mechanical and Manufacturing Engineering at UNSW.
UNSW & Coolsheet in partnership
This TRaCE project is a continuation of an R&D partnership that started 5 years ago. Coolsheet commissioned UNSW to undertake thermal efficiency and component validation testing for the first prototypes in 2020/21, which have been under ongoing test on the rooftop lab of the Mechanical and Manufacturing Engineering Science building at UNSW’s Kensington campus in Sydney.
UNSW is also leading a RACE for 2030 research project on Coolsheet’s 100kW commercial-scale pilot project atop an iconic aquatic centre in Sydney, Australia, monitoring and optimising both pool heating and electricity generation.
Now, as part of this TRaCE project, UNSW will join Coolsheet’s cap table, appoint a Board Observer to provide mentoring and corporate governance assistance and enjoy an ongoing commercial benefit from future sales growth of the next generation of Coolsheet products.
“As we transition from pilot production to full commercialisation, TRaCE will be instrumental in maintaining a strong focus on R&D. For a young company like ours, having a dedicated research team will significantly accelerate innovation and enhance our global competitiveness.
We simply could not afford the time or financial commitment for this professional level of R&D on our own, and we certainly couldn’t have as much fun! I’m looking forward to being able to draw on a world-class team and mentoring so early in our growth,” said Doug Smith, CEO of Coolsheet.
Shaping the future of solar energy
Coolsheet™ is set to revolutionise the solar photovoltaic (PV) market by providing an innovative solution that not only boosts the efficiency and lifespan of solar panels but also adds the valuable capability of generating thermal energy for other uses. It opens up new potential for wider adoption of solar photovoltaic (PV) technology and presents a critical opportunity to accelerate the global transition to renewable energy.
