Friday, July 3, 2009

LG Group in a Race for New Solar Batteries

LG Electronics and LG Display, two affiliates of LG Group, are competing with each other to develop the next generation of thin-film solar batteries.

The battery’s greatest strength is its price competitiveness against the more widely used crystalline silicon solar cell. The manufacturing cost for thin-film solar cells is half that for crystalline silicon cells.

It is expected thin-film solar batteries, which took up 13 percent of the world’s solar battery market last year, will account for 30 percent of the global market in 2015.

LG announced Thursday that its latest thin-film solar cell has attained the world’s best energy efficiency.

The 1.1-by-1.3-meter battery has an energy efficiency rating of 11.1 percent. This means that when 100 degrees of solar energy are injected into the solar battery, 11.1 percent is converted into electricity

The previous record was held by Oerlikon, a Swiss company, with a record of 11 percent.


The bottom line is ...

More efficient solar panels are on the way