GCL System Unveils Cast-Mono Products to Welcome Grid-Parity Era

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MUNICH, May 17, 2019 /PRNewswire/ -- China's Photovoltaic (PV) industry is embracing market-oriented operations as the country's new policy introduced last year has resulted in a new round of industry shuffling, according to Eric Luo, chairman of GCL System Integration Technology Co. Ltd. (GCL System, 002506.SZ).

Last year, the National Development and Reform Commission (NDRC), China's top economic planner, released a policy to strictly control subsidized new PV power plants and further reduce related subsidy rates.

"The policy will drive PV system to become more competitive with conventional power like coal-fired plants in the near future in China. We also see the grid-parity era is coming globally in 2019," Luo further explained.

As an international PV module supplier, GCL System continuously focuses on innovation to enhance products performance in order to provide the most valuable products to clients and contribute to a grid-parity world.

GCL System launched its cutting-edge cast-mono wafer and solar panel for the first time in Intersolar Europe 2019 in Munich, Germany. With the combination of mono-crystalline cell manufacturing technology and multi-crystalline ingot casting technology, the cast-mono module efficiency can reach 19.4 percent, according to the company.

Luo said, the cast-mono was very popular and attracted lots of interest from visitors during the exhibition. The company had already received many orders from European clients, and expected to see 1GW sales this year.

He indicated that the company's overseas sales will account for 80 percent this year, an increase from 52 percent in 2018. Currently, both European and American markets have an increasing demand. In particular, regions along the Belt and Road routes are experiencing a significant demand increase, representing 40-50 percent annual growth.

In order to respond to increasing demands, GCL System plans to produce 6.5-7.0 GW of mono modules, for the first time exceeding its multi-crystalline products this year, said Luo, adding that the company will make more efforts to enhance the performance of cast-mono in the future.

SOURCE GCL System