logo
Plus   Neg
Share
Email

Nikkei: Panasonic Creates New Record In Solar Cell Efficiency

Japanese consumer electronics giant Panasonic Corp.'s (PC) prototype solar cell has achieved the world's highest conversion efficiency at 24.7 percent, Nikkei reported citing the tests performed by the National Institute of Advanced Industrial Science and Technology.

This exceeds the previous record of 24.2 percent held by U.S. firm SunPower Corp. (SPWRA,SPWRB,SPWR), which is still considered as the world's highest by Progress in Photovoltaics, a well-known publication in the area of solar energy research.

The surface membrane of the Panasonic prototype allows more sunlight to pass through. Additionally, its electrodes transfer electricity more efficiently. The company plans to commercialize the prototype and enhance the conversion efficiency of its mass-market solar cells that now stands at 21.6 percent.

While Panasonic's solar cell business has been profitable, it sees a tough business environment ahead. In order to boost profitability, it aims to develop more efficient solar cells that focus on household products that offer more price stability compared to other uses.

Panasonic is also working on lowering its solar cell production costs by 20 percent. This is expected to be achieved by way of manufacturing them at a plant in Malaysia. The firm also plans to use more of parts made outside its home country.

PC closed down 5.4 percent on Friday at 716 yen.

by RTTNews Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Editors Pick
Walmart is ditching its dress code policy and is testing a new dress code that will allows "associates" to wear blue denim and shirts of any solid color. The updated dress coded guidelines now allow employees to wear blue "jeggings" and blue jeans and shirts of any solid color, according to a Walmart... Canadian investment firm Fairfax Financial Holdings Ltd. has submitted a "stalking horse" bid worth C$300 million, or $237 million, for the Canadian unit of Toys "R" Us, according to court documents. A stalking horse bid is an initial bid on the assets of a bankrupt company. The bankrupt company will choose an entity from a pool of bidders who will make the first bid on its assets. The car rental market in the U.S. is consolidating as large car rental companies are buying smaller, local companies to expand their portfolio of premium and value brands. The key players in the U.S. market include Enterprise Holdings, Hertz Global Holding and Avis Budget Group. Let's take a look at some of the best and worst car rental companies in the U.S.
Follow RTT