TOPCon’s market share surged from 24% in early 2023 to 38% by December 2024
PERC's market share dropped significantly from 50% to 38% during the same period
HJT remained relatively stable at around 17%, while IBC experienced a slight decline, falling from 9% to 7% in market share
In our previous couple of articles, we have discussed an overview of the efficiency distribution among the listed modules over the past 2 years. However, analyzing the progress of efficiency by cell technology offers additional interesting insights. While progress across different efficiency bands provides a broader picture – since each cell technology typically falls within a specific efficiency range – there are always exceptions, and the details can be intriguing. Therefore, in this article, we present a deeper analysis of each cell technology’s progress (see Tracking Efficiency Improvements In Solar Modules).
Starting with the statistics, the chart above highlights the evolving market share of solar cell technologies in top-performing modules during 2023 and 2024. While the absolute product count increased for all technologies except for PERC, TOPCon is the lone gainer in relative share. During the 2 years, TOPCon’s share increased from 24% in early 2023 to 38% by December 2024, reflecting its growing adoption. HJT remained relatively stable, fluctuating slightly before ending at 17%, while IBC also saw a slight decline from 9% to 7%. PERC experienced the sharpest drop, falling from 50% to 38%, indicating its gradual replacement by advanced technologies.
With all the technologies put together, the graph may appear somewhat complex. So to improve granularity, we provide some insight into each cell technology in different sub-chapters in the report. These chapters will be published on our website in the upcoming days.
The TaiyangNews TOP SOLAR MODULES 2024 Report summarizes the key findings from over 24 editions published during 2023 and 2024. Download the free report here.