LG Display (NYSE: LPL), a manufacturer of flat-screen displays, today announced plans to focus its R&D capabilities into thin-film solar cells.
LG Display plans to invest KRW50 billion (US$40 million) into R&D to build a pilot production line within its Paju display complex in South Korea during the second half of 2009 and build an outdoor test power generation facility.
The company said it aims to raise the current energy conversion efficiency rate of 8% to 12% by 2010, and eventually achieve efficiency rate of 14% in 2012 to prepare for commercialization.
And like solar companies around the globe, the company wants to lower the manufacturing cost to less than $1 per watt.
LG Display said it will target the market for cells used in photovoltaic power generation, buildings and public displays during the initial stages of commercialization. The company’s long-term blueprint includes expansion into solar cells for mobile displays and automobiles, as well as solar cells for extreme environments such as offshore photovoltaic power generation stations.
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