Solar Modules Surpassing 22.5%

• In early 2024, Tongwei's TOPCon product and Astronergy's module both achieved 22.8% efficiency, expanding the number of products in this band
• AIKO introduced a 24.2% efficient module, and Maxeon launched a 24.1% efficient module, marking the first time two commercially available modules surpassed 24% efficiency
• Maxeon's IBC module and Jolywood's module were the only products in this efficiency band until mid-2022
• By the end of 2023, nine companies had products in the above-22.5% efficiency band.

In a previous article, we have mentioned, for easier analysis, as we dig deeper into efficiency, we have split them into 4 bands: >22.5%, >22% to 22.5%, >21.7% to 22%, and 21.5% to 21.7%. Continuing with the same chronology of high efficiency products first in the highest efficiency band above 22.5%, in 2024, the first change occurred in February when Tongwei increased the efficiency of its TOPCon product from 22.5% to 22.8%. This marked Tongwei's first appearance in this efficiency band, sharing the space with SPIC's IBC module, which had been listed at this level since September 2023. The very next month in March, Astronergy also joined the 22.8% efficiency club, increasing the number of companies listed at this efficiency level to 3. In April, DMEGC entered this efficiency band with a TOPCon module achieving 22.6% efficiency ( see Trends In Solar Module Efficiencies).

However, May 2024 saw the most significant advancements. Not only did AIKO introduce a product with an even higher efficiency of 24.2%, but another IBC expert, Maxeon, also commercialized a 24.1% module. This marked the first time that 2 commercially available modules surpassed 24% efficiency. With this, the number of products in this efficiency band increased to 11.

AIKO made a remarkable entry in March 2023, directly taking the top spot with its 23.6% efficient ABC module series, and subsequently raising the bar again with a 24% product in June. After Maxeon updated its product offerings with the inclusion of a 23% IBC module, as many as 3 new products were added to this efficiency band in September 2023: Huasun's top HJT module efficiency was 23.02%, the TOPCon-based IBC module from SPIC came with an efficiency of 22.8%, and Astronergy's TOPCon product showed a top efficiency of 22.6%.

In the last 6 months, not only did 2 companies announce the highest commercial module efficiencies, but 2 other companies also moved into the >22.5% efficiency band from a lower level. (source: TaiyangNews)

The next change took place in the last month of 2023, when not only Astronergy improved its TOPCon product range with an efficiency reaching 22.65%, the same as JinkoSolar's TOPCon products, Tongwei's HJT module also created ripples with 23% efficiency. Thus, by the end of 2023, a total of 9 products/companies reached the above-22.5% efficiency band.

Only 2 companies, Maxeon and Jolywood, offered such products until June 2022. SunPower spin-off Maxeon had an efficiency of 22.7% at the launch of our listing, which was later improved to 22.8% in April 2022, while Jolywood offered a module at22.53%. In July 2022, Huasun joined the club with its 22.53% HJT module. In October, JinkoSolar entered the league with its TOPCon product, achieving22.65% and taking the 2nd place. Then in November 2022, LONGi surprised the industry with its HPBC technology, realizing 22.8% efficiency, which was on par with Maxeon's module that had been No.1 for several years before we started this feature (See Growth In High Efficiency Solar Modules).

The TaiyangNews TOP MODULES 2023 Report summarizes the key findings from over 24 editions published during 2022 and 2023. Download the free report here.