There are two types of solar cells in the market in the current photovoltaic industry: one is the monocrystalline silicon cell that is primarily operated by a monocrystalline stick; the other is a multicrystalline silicon cell that is made from the casting of multicrystalline silicon ingots. Multicrystalline technology has dominated the market, accounting for 70 percent of market share due to its lower cost. However, as a monocrystalline silicon cell is more efficient in terms of energy conversion in addition to higher follow-on returns, it will become the new development opportunirty for the photovoltaic industry.
While 70 percent of the market is dominated by multicrystalline cells, the market share for monocrystalline is less than 30 percent. According to a recent research, despite slightly higher balance-of-system costs, a standard monocrystalline cell has a 5 percent higher efficiency, as well as a 20 percent higher rate of return-of-capital, than a multicrystalline cell. In 2013, the overall monocrystalline wafer capacity in the Chinese market was approximately 6GW to 7GW. The five largest monocrystalline wafer producers accounted for more than 90 percent of the national monocrystalline wafer production.
IHS forecasts that the monocrystalline market will steadily gain share, benefiting from growth on rooftop installations as well as increasing demand for higher-efficiency products. It’s predicted that the monocrystalline share of global cell production will increase to 27 percent in 2015, up from 24 percent in 2014.
“Monocrystalline Silicon Cells To Be A New Opportunity for the PV Industry.” OF Week Solar. Of Week, 20 July 2015. Web. 23 July 2015.