Sanyo Electric Co Ltd said the company has achieved a cell conversion efficiency of 23% in the company’s heterojunction with intrinsic thin layer (HIT) solar cell, but the efficiency is on the research and development level instead of the volume production level.
The company, which previously attained a conversion efficiency of 22.3% at maximum on the research and development level, said that it will disclose the details in the near future.
Although the business is affected by the global recession, Sanyo will focus its management resources on the solar cell business and expects that it will certainly grow in the long run.
Sanyo estimates that the solar cell market in fiscal 2009 (April 2009 to March 2010) will stumble to 5GW, or smaller than that in the preceding fiscal year, because of the global recession and that it will grow to 6GW in fiscal 2010, 7GW in fiscal 2011 and 40GW in fiscal 2020 due to drawdown of fossil fuels and other factors. The company aims to gain a 10% market share in fiscal 2020.
In a bid to expand the market share, Sanyo will strengthen its cost competitiveness. Specifically, it will reduce production costs by, for example, manufacturing the Si wafers that are used in HIT solar cells in-house. The company will start to produce Si wafers at its Oregon plant in the US within fiscal 2009, aiming to increase the ratio of Si wafers that are manufactured in-house and used in its HIT solar cells to 20% in fiscal 2010.
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[...] Sanyo Reports HIT Solar Cell Efficiency of 23% [...]