Hyundai Heavy Achieves Top Solar-Cell Efficiency

S. Korea’s Hyundai Heavy Industries (HHI) has overtaken China’s Suntech as the maker of the world’s most efficient solar cell by producing a selective emitter (SE) solar cell with a conversion efficiency rate of 19.7%.

SE solar cells are generally considered the most efficient type of photovoltaics in terms of cost-efficiency. It made up only about 10.3% of the photovoltaic market in 2010 but is expected to surge to 50.7% by 2015 by growing at an annual rate of 70%.

HHI’s SE solar cell was certified for efficiency by Fraunhofer-Gesellschaft, Europe’s leading organization for applied research.

The efficiency lead had been held by China’s Suntech with an SE cell with 19.6% conversion efficiency. Just behind Suntech are Japan’s Kyocera and Germany’s Schott Solar.

HHI’s new solar cell is one inch bigger than Suntech’s five-inch cell, allowing a 57% power production capacity jump to 4.7 watts per unit.

HHI is Korea’s largest solar cell maker. It operates S. Korea’s largest photovoltaic plant, with an annual power capacity of 600 megawatts, located in Eumseong in North Chungcheong province.

HHI was a member of the Hyundai chaebol until the S. Korean government forced the leading chaebol to divest subsidiaries to focus on their core businesses — in Hyundai’s case, the automotive business.