First Solar Sets Record for Solar Panel Efficiency

First Solar set a record with 14.4 percent efficiency for its cadmium telluride PV solar panels using factory equipment, says Bloomberg. It beat its own previous record of 13.4 percent, which was confirmed by the U.S. Department of Energy‘s National Renewable Energy Lab (NREL).

Its commercial production reached 12.4 percent efficiency in the third quarter and, at that conversion rate, it can produce panels for less than 70 cents a watt, its chief executive officer says.

In July, the company also announced a record 17.3 percent conversion rate for a solar cell in a lab.

To read the full article by Bloomberg cited in this story, click here

Tags: Solar

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