Maxeon claims 24.7% efficiency for IBC solar panel

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Singapore’s Maxeon has announced that it has achieved an aperture module conversion efficiency of 24.7% for a full-scale Maxeon 7 PV panel. The US Department of Energy's National Renewable Energy Laboratory (NREL) confirmed the result.

The Maxeon 7 module is based on interdigitated back contact (IBC) technology. The manufacturer hosts a Maxeon 7 pilot assembly line in the Philippines and has recently announced it will expand the cell manufacturing capacity for the “record-breaking” module to 500 MW.

Maxeon also announced efficiency improvements to its existing IBC products, with Maxeon 6 and 3 panels achieving efficiencies of 23% and 24%, respectively.

“Our technology team continues to increase the performance of our IBC technology platform to efficiency levels that were not anticipated when we launched our first commercial products almost twenty years ago,” said Bill Mulligan, Maxeon’s CEO. “Most importantly, these achievements are not one-off laboratory results but mainstream production technologies that increase customer value and extend our differentiation versus our competitors.”

Maxeon recently priced a public offering of shares to raise $157.4 million. It said it would use the funds for Maxeon 7 module production and general corporate purposes.

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