SAN JOSE, Calif., June 23 /PRNewswire-FirstCall/ -- SunPower Corp. (Nasdaq: SPWRA, SPWRB), a Silicon Valley-based manufacturer of high-efficiency solar cells, solar panels and solar systems, announced today that it has produced a full-scale solar cell with a sunlight to electricity conversion efficiency of 24.2 percent at its manufacturing plant in the Philippines. This is a new world record, confirmed by the U.S. Department of Energy's National Renewable Energy Lab (NREL), for large area silicon wafers.
"This new world record demonstrates SunPower's ability to extend our lead in manufacturing the world's highest efficiency solar cells," said Bill Mulligan, vice president of technology and development for SunPower. "Our patented and proprietary, high-efficiency solar cell technology drives down the cost of solar energy by increasing the energy production from each solar panel."
Improved cell efficiency reduces the levelized cost of energy by increasing the energy production from each wafer manufactured into a SunPower solar cell. For the same reason, increased efficiency reduces the cost per watt and cost per kilowatt-hour for feedstock and materials, depreciation and other manufacturing expenses, installation time, land and system operations, and related maintenance.
"As we celebrate SunPower's 25th anniversary this year, I am thrilled to see the company achieve technology milestones that were inconceivable only a few years ago," said Dr. Richard Swanson, SunPower founder and chief technology officer. "SunPower's research and development and engineering teams have increased cell efficiency by a full four percentage points over the last five years while radically driving down manufacturing costs. We are extremely proud of their continued success."
Founded in 1985, SunPower Corp. (Nasdaq: SPWRA, SPWRB) designs, manufactures and delivers the planet's most powerful solar technology broadly available today. Residential, business, government and utility customers rely on the company's experience and proven results to maximize return on investment. With headquarters in San Jose, Calif., SunPower has offices in North America, Europe, Australia and Asia. For more information, visit www.sunpowercorp.com.
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SOURCE SunPower Corp.