JinkoSolar's Perovskite Tandem Solar Cell Based on N-type TOPCon Sets New Record with Conversion Efficiency of 33.24%

Rhea-AI Summary

JinkoSolar (NYSE: JKS), a prominent solar module manufacturer, announced a breakthrough in its N-type TOPCon-based perovskite tandem solar cell, achieving a record 33.24% conversion efficiency. Tested by the Shanghai Institute of Microsystem and Information Technology, this surpasses the previous 32.33% record. Leveraging innovations like ultra-thin poly-Si passivated contact and novel light-trapping technology, this advancement demonstrates the synergy between TOPCon and next-gen perovskite/silicon tandem cells, breaking the efficiency ceiling of single-junction silicon cells. JinkoSolar's extensive R&D has resulted in over 3,800 global patent applications, with 3,500 granted. CTO Dr. Jin Hao highlights this achievement as a testament to the company’s commitment to technological innovation, aiming to build a sustainable energy future.

Positive

• Record-breaking 33.24% conversion efficiency for perovskite tandem solar cell.
• Surpasses previous record of 32.33%, improving efficiency significantly.
• Tested by a reputable entity: Shanghai Institute of Microsystem and Information Technology.
• Employs innovative technologies like ultra-thin poly-Si passivated contact and novel light-trapping.
• Demonstrates the compatibility and potential of TOPCon and perovskite/silicon tandem cells.
• JinkoSolar has a robust R&D focus, with over 3,800 global patent applications and 3,500 granted.

Negative

• No immediate financial data or revenue impact mentioned.
• Potential high costs associated with continual R&D and patent applications.

Insights

Tech Expert

JinkoSolar's recent innovation in its N-type TOPCon-based perovskite tandem solar cell is a significant stride for the company and the photovoltaic industry as a whole. Achieving a conversion efficiency of 33.24% is not just a record but also an indicator of potential future efficiencies in solar technology. This level of efficiency suggests that solar cells can now convert more sunlight into electricity, increasing their overall power output. The efficiency improvements stem from advancements in various technologies including ultra-thin poly-Si passivated contact technology, novel light-trapping techniques and efficient surface passivation technology. These innovations are not just incremental but rather transformative, pushing beyond the traditional limits of single-junction silicon solar cells. For retail investors, this signifies that JinkoSolar is at the forefront of solar technology, potentially leading to more cost-effective and efficient solar solutions in the future.

Market Research Analyst

JinkoSolar's latest breakthrough holds significant implications for the solar energy market. By setting a new efficiency record, JinkoSolar strengthens its position as a leader in the industry, which can attract more investors and partners. This could lead to increased market share as customers gravitate towards the most efficient technology. Moreover, the continuous innovation and substantial R&D investment highlight the company's commitment to staying ahead of competitors. However, it's also important to consider the scalability and commercial viability of these high-efficiency cells. While the technological achievement is notable, the company will need to demonstrate that it can produce these cells at scale and at a competitive cost. Retail investors should monitor how JinkoSolar plans to transition this laboratory success into commercial products and the potential market reception.

Financial Analyst

From a financial perspective, this record-breaking efficiency can have a profound impact on JinkoSolar's bottom line. Higher efficiency translates to more energy produced per solar panel, potentially leading to greater sales and increased revenue. The achievement also positions JinkoSolar to command a premium price for its advanced technology, potentially improving profit margins. Furthermore, the company's extensive patent portfolio ensures that these technological advancements are protected, providing a competitive edge and long-term value. However, investors should remain mindful of the associated R&D costs and the timeline for these innovations to reach commercial viability. Short-term financial gains may not be immediately apparent, but the long-term outlook appears promising as the global demand for efficient and sustainable energy solutions continues to rise.

SHANGRAO, China, May 31, 2024 /PRNewswire/ -- JinkoSolar Holding Co., Ltd. (the "Company," or "JinkoSolar") (NYSE: JKS), one of the largest and most innovative solar module manufacturers in the world, today announced a significant breakthrough in the development of its N-type TOPCon-based perovskite tandem solar cell. Tested by the Shanghai Institute of Microsystem and Information Technology, Chinese Academy of Sciences, the cell achieved an impressive conversion efficiency of 33.24%, a significant leap beyond JinkoSolar's previous record of 32.33% for the same type of tandem cells. This is a remarkable achievement, breaking the world record in efficiency and power output for PV products an impressive 26 times.

The record-breaking perovskite tandem solar cell employed Jinko's n-type high-efficiency monocrystalline TOPCon solar cell as the bottom cell. This breakthrough in conversion efficiency for the perovskite/TOPCon tandem solar cell has been achieved through various materials and technology innovations including ultra-thin poly-Si passivated contact technology, novel light-trapping technology, intermediate recombination layer with high light transmittance and high carrier mobility, and efficient surface passivation technology using hybrid materials. This achievement demonstrates the compatibility of TOPCon as a mainstream solar cell technology with the next-generation perovskite/silicon tandem cell technology, breaking the efficiency limit of single-junction silicon solar cell.

As a leading company in the photovoltaic industry, JinkoSolar invests substantial R&D annually for technological innovation, continuously building up its patent portfolio and breaking world records in R&D achievements. To date, JinkoSolar has applied for over 3,800 global patents and has been granted more than 3,500, providing higher efficiency and better value energy solutions to the global solar photovoltaic market with ongoing technological breakthroughs. 

Dr. Jin Hao, CTO of JinkoSolar, said, "This milestone breakthrough once again highlights JinkoSolar's determination to continuously push the boundaries through strong technological innovation capabilities. It also lays a solid technical foundation for the Company's continuous development. We believe that, as we continue to deepen our scientific research and technology, we will contribute to building a greener and more sustainable new energy structure."

About JinkoSolar Holding Co., Ltd.

JinkoSolar (NYSE: JKS) is one of the largest and most innovative solar module manufacturers in the world. JinkoSolar distributes its solar products and sells its solutions and services to utility-scale, commercial and residential customers in China, the United States, Japan, Germany, the United Kingdom, Chile, South Africa, India, Mexico, Brazil, the United Arab Emirates, Italy, Spain, France, Belgium, Netherlands, Poland, Austria, Switzerland, Greece and other countries and regions.

JinkoSolar had 14 productions facilities globally, 26 overseas subsidiaries in Japan, South Korea, Vietnam, India, Turkey, Germany, Italy, Switzerland, the United States, Mexico, Brazil, Chile, Australia, Canada, Malaysia, the United Arab Emirates, Denmark, Indonesia, Nigeria and Saudi Arabia, and a global sales network with sales teams in China, the United States, Canada, Brazil, Chile, Mexico, Italy, Germany, Turkey, Spain, Japan, the United Arab Emirates, Netherlands, Vietnam and India, as of March 31, 2024.

To find out more, please see: www.jinkosolar.com

Safe Harbor Statement

This press release contains forward-looking statements. These statements constitute "forward-looking" statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and as defined in the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as "will," "expects," "anticipates," "future," "intends," "plans," "believes," "estimates" and similar statements. Among other things, the quotations from management in this press release and the Company's operations and business outlook, contain forward-looking statements. Such statements involve certain risks and uncertainties that could cause actual results to differ materially from those in the forward-looking statements. Further information regarding these and other risks is included in JinkoSolar's filings with the U.S. Securities and Exchange Commission, including its annual report on Form 20-F. Except as required by law, the Company does not undertake any obligation to update any forward-looking statements, whether as a result of new information, future events or otherwise.

For investor and media inquiries, please contact:

Ms. Stella Wang
JinkoSolar Holding Co., Ltd.
Tel: +86 21-5180-8777 ext.7806
Email: pr@jinkosolar.com 

View original content:https://www.prnewswire.com/news-releases/jinkosolars-perovskite-tandem-solar-cell-based-on-n-type-topcon-sets-new-record-with-conversion-efficiency-of-33-24-302160546.html

SOURCE JinkoSolar Holding Co., Ltd.

FAQ

What is the conversion efficiency of JinkoSolar's new perovskite tandem solar cell?

The conversion efficiency is 33.24%.

What is the stock symbol for JinkoSolar?

The stock symbol is JKS.

Which institution verified the efficiency of JinkoSolar's solar cell?

The efficiency was verified by the Shanghai Institute of Microsystem and Information Technology.

How does the new efficiency record compare to JinkoSolar's previous record?

The new record of 33.24% surpasses the previous record of 32.33%.

What technology does JinkoSolar's new solar cell employ?

It employs N-type TOPCon-based perovskite tandem solar cell technology.

How many global patents has JinkoSolar applied for?

JinkoSolar has applied for over 3,800 global patents.

What technologies contributed to the new efficiency record?

Innovations include ultra-thin poly-Si passivated contact and novel light-trapping technology.

What significance does the new efficiency record hold for JinkoSolar?

It highlights JinkoSolar's technological innovation and strengthens their position in the photovoltaic market.