Solar panel efficiency record broken by Chinese firm LONGi

In a remarkable feat of innovation, scientists have shattered the world record for solar panel efficiency, surpassing their own previous milestone in less than half a year. Led by a research team from LONGi Green Energy Technology, the globe’s leading solar panel provider, this achievement reached an unprecedented efficiency level of 27.3 percent, eclipsing the former record of 27.1 percent established just six months earlier.

Utilizing crystalline silicon solar cells in laboratory conditions, the team showcased the cutting-edge potential of their technology. Additionally, LONGi unveiled a commercially available cell boasting a remarkable conversion efficiency rate of 24.43 percent, poised to significantly advance the global transition to clean energy sources.

Dennis She, Vice President of LONGi Green Energy Technology, emphasized the enduring performance and reliability of their modules, assuring power plant owners of optimal land utilization and sunlight utilization.

Although this achievement falls short of the record-breaking efficiency rates achieved by next-generation solar cells utilizing perovskite, which have surpassed 33 percent in laboratory settings, it promises to elevate solar energy’s contribution to global electricity generation.

Coinciding with this breakthrough, a recent report revealed that renewable energy sources surpassed 30 percent of the world’s electricity generation for the first time in 2023. Solar energy, in particular, has been a driving force behind this surge, according to the Global Electricity Review by climate think tank Ember.

With solar power now comprising over 10 percent of annual electricity generation in more than 30 countries and accounting for 5.5 percent of global electricity generation in 2023, the trajectory towards a cleaner energy future appears promising. Ember’s report forecasts that by 2050, solar and wind power together will provide nearly 70 percent of global electricity, supported by ongoing cost reductions in key technologies like battery storage and electric vehicles.