China's GCL to invest USD$98 million in tandem silicon/perovskite PV
GCL Technology, one of China’s largest solar panel materials producers, will reportedly invest 700 million yuan (almost USD$98 million) to transition to a more lucrative next-generation technology, as the industry grapples with losses and oversupply.
The Hong Kong-listed company aims to complete the first phase of a 500 megawatt (MW) plant in Kunshan by the middle of next year, for solar modules that combine cells stacked with perovskite and crystalline silicon, according to a statement by Fan Bin, chairman of GCL Perovskite. “The value of the [nascent] perovskite technology lies in the ample room for uplifting its energy conversion efficiency,” he said. “That is why manufacturers are willing to invest in its development.” The future cost of production using the perovskite-silicon technology could be lower than the crystalline silicon technology, he added.