Korea eyes first-mover advantage in tandem solar cells

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Korea eyes first-mover advantage in tandem solar cells

Published: 02 Jun. 2025, 12:18 Updated: 02 Jun. 2025, 14:26

Audio report: written by reporters, read by AI

Solar panels manufactured by Hanwha Qcells installed in Germany [HANWHA QCELLS]

As China continues to dominate the solar power market with silicon cells, Korean companies are preparing a counteroffensive with next-generation technology — tandem solar cells.

With double the efficiency of conventional models and no clear global leader yet, Korea aims to gain a first-mover advantage in the emerging market.

According to industry sources Tuesday, domestic solar power companies have been ramping up investment in tandem cells in recent years. These cells layer a new material called perovskite, which absorbs a wider range of light wavelengths, on top of conventional silicon cells. This structure allows for greater light absorption and significantly improves power generation efficiency.

Currently available silicon-based modules have a power conversion efficiency of around 22 to 24 percent. But modules using tandem cells could theoretically reach up to 44 percent efficiency — nearly double.

The need for a technological shift is becoming more urgent, especially given China’s stronghold over the current solar market. According to the International Energy Agency, Chinese manufacturers held 84.6 percent of the global market share in solar modules as of 2023. Tandem cells, however, remain an open field with no dominant player, providing an opportunity for Korean firms to gain traction.

A Hanwha Solutions solar panel factory in Georgia, the United States [HANWHA SOLUTIONS]

Major Korean companies such as Hanwha Qcells, the solar division of Hanwha Solutions, and HD Hyundai Energy Solutions are leading the push into tandem cell research.

Hanwha Qcells began developing tandem cells and modules in the late 2010s. Last year, the company’s M10-sized tandem cell, spanning 330.56 square centimeters or approximately 51.23 square inches, that was developed in-house achieved a 28.6 percent conversion efficiency — the highest for that standard — and received global certification. More recently, a module incorporating this tandem cell became the first in the world to pass the international reliability standard test by Germany’s TUV Rheinland.

In 2023, Hanwha Qcells established a pilot production line in Jincheon, North Chungcheong, to prepare for mass production.

“No one has yet succeeded in commercializing tandem cells to dominate the market,” a company representative said. “We’re simultaneously investing in research and development [R&D] and production facilities with mass production as our goal.”

HD Hyundai Energy Solutions solar panel factory in Eumseong County, North Chungcheong [HD HYUNDAI ENERGY SOLUTIONS]

HD Hyundai Energy Solutions has also been pushing tandem cell research since 2023, investing over 4 billion won ($2.9 million) in R&D last year.

“In the first quarter of this year, R&D spending amounted to 2.38 percent of our revenue and is rising annually,” a company spokesperson said. “Tandem cells are a game-changer for the solar industry, and with global momentum for carbon neutrality, we see this as a future opportunity and are focused on developing the technology.”

The Korean government is stepping up support as well. According to a recent report by the Korea Institute of S&T Evaluation and Planning (Kistep), the government’s investment in tandem cell technology reached approximately 25.2 billion won in 2023, up from 8 billion won in 2019 — an annual average increase of 33.3 percent over the past five years.

Until 2019, government R&D spending in the tandem cell field had been concentrated in universities, which claimed 61 percent, and state-funded research institutes, which received 34.7 percent of the total. Since 2020, however, the Ministry of Trade, Industry and Energy has significantly increased its budget, leading to a more balanced distribution. In 2023, the breakdown was 42.4 percent to universities, 30.1 percent to large companies and 26.5 percent to research institutes.

A picture of Hanwha Qcells' solar panels in California, installed in May 2024 [HANWHA QCELLS]

Experts stress that securing a lead in this next-generation solar market is critical. German solar market research firm ITRPV projects that tandem cells will grow from 3 percent of the market in 2029 to 12 percent by 2035.

“Korea is relatively proactive in investing in tandem cells, even compared to the global trend,” said Yeo Jun-seok, a senior researcher at Kistep. “If sanctions against Chinese solar products escalate amid the U.S.-China rivalry, the strategic value of Korean-developed tandem cells will only grow.”

Translated from the JoongAng Ilbo using generative AI and edited by Korea JoongAng Daily staff.
BY NOH YU-RIM [[email protected]]