Monocrystalline technology is gaining traction

More and more companies are looking to expand their monocrystalline silicon solar panel capacity in lieu of multicrystalline silicon panel capacity. Neo Solar is the latest company to join the bandwagon as it is looking to build a 1 GW mono silicon cell capacity, which will increase the percentage of mono capacity to almost 40% of its overall capacity up from 25%. Longi Silicon which is the worlds’ largest monocrystalline silicon wafer manufacturer, is also looking to expand its solar panel and cell capacity to more than 5 GW in the next 5 years through its wholly owned subsidiary. Longi believes that the solar industry will completely move to mono silicon panels in the coming years and it has shut down its existing multi silicon panel capacity.

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Note mono silicon panels are in general costlier, but more efficient than multi silicon panel technologies. Multicrystalline silicon panels are in general less prevalent than mono panels. High efficiency monocrystalline panels are made by companies such as Sunpower and Panasonic. High efficiency but lower cost monocrystalline panels are made by Chinese companies, which use less advanced processes and technologies in mono cell manufacturing. The Chinese companies have managed to decrease mono cell manufacturing costs, such that the efficiency cost tradeoff for monocrystalline technology has become comparable to multicrystalline technology.

It remains to be seen whether other players also move in the direction of Neo Solar power and increase the weightage given to monocrystalline technology, or whether they will stick to their multicrystalline focus.