Chongqing - On October 10, Wuxi Zhongneng Energy Technology Co., Ltd. officially broke ground on its 3GW annual production capacity perovskite solar cell (PSC) manufacturing base in Baisha Industrial Park, Jiangjin District, Chongqing.
With a total investment of five billion yuan ($703 million), this facility will become the largest PSC production site in Southwest China, supporting the development of a multi-billion-dollar new energy photovoltaic industrial park in the region.
PSCs use materials with a perovskite crystal structure that efficiently absorb light across a broad spectrum and are easy to produce. As a third-generation photovoltaic technology, PSCs offer higher efficiency, lower energy use, reduced costs, and vast application potential.
Compared to traditional silicon-based cells, PSCs are particularly well-suited for the climate conditions in Southwest China, where lower light levels have traditionally limited the effectiveness of photovoltaic systems.
Expanding into the Northern European market
Jason Han, Secretary of the Board of Directors of Wuxi Zhongneng Energy Technology Co., Ltd., highlighted PSCs as a rising star in the global renewable energy sector in an interview with Bridging News on October 12.
Jason Han, Secretary of the Board of Directors of Wuxi Zhongneng Energy Technology Co., Ltd. (Photo/Jason Han)
Han highlighted the April 2024 G7 Ministers' Meeting on Climate, Energy, and Environment, where the joint communiqué stressed perovskite technology as a key driver of global green energy innovation.
Han stated that Zhongneng Energy Technology is expanding internationally, focusing on markets like Northern Europe. There, low-light and rainy conditions increase demand for the advantages of perovskite technology. PSCs' low cost and efficiency in such environments offer strong market potential.
As nations worldwide prioritize renewable technologies, PSCs are expected to become pivotal in shaping a greener future. Zhongneng Energy Technology is actively pursuing collaborations with international companies and government agencies to advance the global adoption of this cutting-edge technology.
Customizing perovskite products with a reverse-engineering model
Han also stressed that Zhongneng Energy Technology works closely with downstream customers to explore a reverse-engineering business model that customizes perovskite products according to specific use cases and demands.
The technology’s advantages extend beyond performance in cloudy or low-light environments; it also unlocks new growth areas for photovoltaic applications that traditional silicon cells cannot access. These include integration into buildings, IoT devices, aerospace, and outdoor equipment, among other scenarios.
The construction site of the Southwest Base Project for the production of 3GW perovskite solar cell modules in Baisha Industrial Park, Jiangjin District. (Photo/Qi Lansen)
According to the China Photovoltaic Industry Association (CPIA), perovskite photovoltaic modules are expected to reach a 30% market penetration rate by 2030, presenting new growth opportunities for the global optoelectronics industry.
With over a decade of expertise in PSC research, Zhongneng Energy Technology has operated the world’s first large-format 550mm x 650mm perovskite cell production line and is the first to produce flexible perovskite cells with a 22% conversion efficiency.
The construction of the Southwest base will further increase the company’s production capacity. Upon project completion, the estimated annual output value will be six billion yuan, and expected annual tax contributions will exceed 200 million yuan.