A Down Trend In PERC

• The share of PERC products has shown a consistent decline over the past 2 years, dropping from 60% in January 2022 to 44% by the end of 2023 
• The count of companies as well as products have been increasing in absolute terms 
• Throughout the period, several new companies entered the market, offering PERC modules with or above 21.5% efficiency 

The share of PERC (Passivated Emitter and Rear Cell) products has been decreasing over a period of 2 years. With a total of 12 products in January 2022, the technology accounted for 60% of the listed modules. It peaked at 64% in March and April of that year, before dipping to 48% in September and October with 15 products. Although there was a marginal increase in share from November to February, the share of products has been generally shrinking, down to 44% by the end of 2023. 

The companies offering PERC modules commercially at the start of our TOP SOLAR MODULES coverage were CSI, Risen, Suntech, Talesun, Trina Solar, EGing PV, Astronergy, JA Solar, Jinergy, LONGi, Qcells and Tongwei. In February 2022, Yingli was added to the list followed by Seraphim in March. The list remained unchanged till September when JinkoSolar began offering PERC modules above 21.5% efficiency. In November, Jinergy started offering such modules, while Akcome followed in December 2022, taking the count to 17 products and their share to 34%. The list essentially remained the same even during H1-2023, while the efficiency ratings of the products changed from time to time. 

In July, we included 6 companies – Qn-SOLAR, SolarSpace, URECO, CECEP, GCL-Si, and Runergy – offering commercial PERC module products with or above 21.5% efficiency. By September, PERC started losing share just due to the overall increase in the number of products getting listed. ZNSHINE joined in October, and the segment remained unchanged until the end of December, with 24 products and a share of 44%.