Suntech Power Holdings Co., Ltd. (NYSE: STP), a leading manufacturer of photovoltaic (PV) modules, said it has achieved a new world record conversion efficiency of 15.6% on a commercial grade multi-crystalline silicon PV module.
This conversion efficiency surpasses the previous record of 15.5% (aperture area only) set by Sandia National Labs 15 years ago. The multi-crystalline module conversion efficiency was independently tested by Fraunhofer Institute for Solar Energy Systems ISE in Germany.
Suntech’s record-breaking module is powered by its Pluto PV cells utilizing solar grade silicon. The previous record was based on an aperture area or frameless module. In contrast, Suntech’s new world record efficiency includes the framed area, without which Suntech said it believes the panel would achieve a conversion efficiency over 16%.
The conversion efficiency was accepted by the scientific journal Progress in Photovoltaics (PIP), which offers a forum for reporting advances in the PV industry. Professor Martin Green, Research Director of the ARC Photovoltaics Centre of Excellence at the University of New South Wales, Australia, and member of the PIP committee, said, "Improving the conversion efficiency of multi-crystalline silicon modules has proven particularly challenging and this is a very impressive achievement for such a large module from a commercial supplier. I can confirm that the 15.6% multi-crystalline module result is the highest known conversion efficiency measured by a PIP-recognized test center."
Dr. Stuart Wenham, Suntech’s Chief Technology Officer, said, "The fact that this module was produced on our commercial scale production lines using regular solar grade silicon is of particular note. The best news is that we believe there is still room for plenty more improvement in Pluto."
Suntech has initiated commercial shipments of Pluto powered modules and currently expects to ship 10 megawatts (MW) to 15MW of Pluto products in 2009.
2Q Profit Drops
Suntech also reported its second quarter results, showing a decrease in profits due to falling prices for solar panels.
Net income dropped to $10 million, or $0.06 per per American Depositary Share from $52 million, or 31 cents per ADS, a year earlier, according to a Reuters report.
Revenue fell by a third to $321 million and the company reduced its forecast for 2009 shipments to 600 MW–the low end of a previously issued forecast of 60 MW to 700 MW.
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