IBC Solar Modules See Steady Efficiency Development

Key takeaways:

In January 2022, IBC started out with efficiencies of 22.3%-22.7% and saw incremental increases, reaching 24.2% by May 2024

Key efficiency milestones were set by AIKO in May 2024, pushing the upper limit to 24.2%, and by LONGi in October 2022, entering with 22.8% efficiency

Maxeon and LG led the early 2022 efficiency race with 22.7% and 22.3%, respectively, before LG exited the market and other players like SPIC and LONGi joined.

The TaiyangNews TOP SOLAR MODULES Analysis H1-2024 report not only evaluates the market share of products but also explores the efficiency developments of various cell technologies, including IBC, HJT, TOPCon, and PERC. This article specifically focuses on the efficiency advancements in IBC technology. In January 2022, the efficiency range for IBC was between 22.3% and 22.7%, with the lower limit extending to 22% in February. The efficiency band for IBC shifted by 0.1% at both the lower and upper limits to 22.1% and 22.8%, respectively, in March and remained unchanged until May. In June 2022, the minimum efficiency increased again to 22.3% with no change in the maximum value, which continued until February 2023 (see Share Of IBC Technology).

The upper limit increased to 23.6% in March 2023, and to 24% in June 2023. While it remained so until the end of the year, the range narrowed by increasing the lower limit to 22.8% from September onwards till April 2024. AIKO once again raised the bar to 24.2% in May 2024.

Moving on to the companies and their respective efficiencies, Maxeon and LG had the highest efficiencies in the first month of 2022, at 22.7% and 22.3%, respectively. In February, SPIC entered with a somewhat lower-level efficiency of 22%. In March, while LG was delisted due to its exit from the solar business, both Maxeon and SPIC increased their efficiency by 0.1%, and then SPIC alone increased it to 22.3% in June. While these efficiency levels remained the same, LONGi entered the IBC game in October with its brand new HPBC technology, realizing 22.8%, on par with Maxeon's module.

The TaiyangNews TOP SOLAR MODULES H1/2024 Report summarizes the key findings from over 30 editions published during 2022 and H1/2024. Download the free report here.