Hanwha Q Cells recently has decided to cease its competition in research and development in order to improve light conversion efficiency and focus on commercialization.
The Korean solar maker believes that its extensive data and experience in this field will give it a competitive advantage in achieving high yield and establishing strong large-scale production systems.
The company has just announced that it will complete the final commissioning of its 40MW perovskite tandem cell pilot line located in Jincheon, Chungbuk as early as October this year and begin trial operation. The goal is to start commercial production by 2026, and it is believed that entering large-scale production before China is crucial for gaining an advantage in the world market.
Tandem solar cells combine multiple layers of PV materials to capture a wider spectrum of sunlight, and it’s 20-30% cheaper and 1.5 times more efficient than existing silicon cells. The light conversion efficiency of standard silicon cells is 29%, while the light conversion efficiency of tandem cells is as high as 44%. Despite these advantages, the competition is intensifying.
Chinese companies began to study tandem solar cells three years ago and set a new world record in June this year with a light conversion efficiency of 34.6%. The light conversion efficiency of Hanwha Q Cells is only about 30%. Last year, Longi Solar invested about Won2tn in research and development, highlighting China’s advantage in the market.
“The difficulty of achieving maximum efficiency and establishing large-scale production lines is completely different,” said a representative of Hanwha Q CELL. “To achieve high yield, it is necessary to understand how small differences in material ratio, current, temperature, and noise affect the results, and Hanwha has the most data in this field.”
Despite the deteriorating financial conditions, Chinese companies continue to invest resources in research and development. Analysts believe that China’s dominant position in 90% of the global silicon cell market may slow down its transition to tandem cells, but active investment demonstrates a commitment to overcoming this obstacle.
Future Market Insights predicts that by 2033, the global market for tandem cells will reach KRW 491 trillion (approximately USD 363 billion), highlighting the enormous economic potential of this technology. With the increasingly fierce competition between South Korea and China, the competition in dominating the next generation solar cell market will have a profound impact on the global renewable energy industry.
