The efficiency and low-light performance are two crucial parameters for a solar module. In this sense, one of the largest global producers of monocrystalline silicon wafers, Longi, started 2020 with technological innovation. Their latest p-type PERC (passivated emitter rear contact) module can reach upto 22.38% efficiency. This was verified by TUV Rheinland. This figure is very interesting, as it’s a world record efficiency for a monocrystalline single-sided panel.
The company has set-aside considerable R&D budget ($182 million in 2018 fiscal year), and has achieved over 2% increase in efficiency over the last two years. This is double the solar PV industry average. The company has large expansion plans in the coming years. During the World Future Energy summit 2020, they showcased the new Hi-Mo 4 modules with the new 166mm M6 wafers.
A new 20GW (expandable upto 40GW) manufacturing plant in Chuxiong is in the works. This will equip them to reach a 100GW annual production capacity by 2021. The operational energy required for this new factory would be completely covered by hydroelectric power.
Over the past few years, the company has garnered significant traction in the PV industry. In the last year, Longi’s profits are expected to increase by over 105%. This is mainly due to the company’s global expansion efforts, which also coincides with the establishment of solar as the most affordable and easily deployable end-user energy source.The company negotiated somekey business deals in the previous year, including the deal with Adani group to supply 1.2GW bifacial longi PV modules. Furthermore, the company has also recently signed multi-billion dollar wafer supply deals with Runergy and Tongwei Solar.