For many years, various energy companies have been working on methods to improve sunlight absorption even in conditions of low and indirect light. Suntech Holdings is one such company working in this domain. The company uses Pluto cell design and ultra-fine top contact gridlines to increase power output, and it provides a 10-15% performance advantage.
Recently, the company announced that it had achieved a world record 20.3% efficiency in Pluto Cell Technology. The company achieved this feat in collaboration with the University of New South Wales. Suntech's research and technology development (R&D) team has announced that Solar Energy Research Institute of Singapore has confirmed the 20.3% efficiency of the improved Pluto cell technology.
The company said that this breakthrough technology is important to Suntech’s strategy of achieving grid parity and increased global adoption of solar energy solutions. The customers of the company can now get increased efficiency and power output, which in turn will provide better usage of space and lower installation costs.
“This technology breakthrough marks another critical milestone in our effort to improve solar cell efficiency, which will ultimately make solar competitive with fossil fuels," said Dr. Stuart Wenham, Suntech's Chief Technology Officer, and Director of the School of Photovoltaic and Renewable Energy Engineering (SPREE) at the University of New South Wales. "Technology innovation is imbued in Suntech's DNA, our more than 400 R&D professionals around the world, including Australia, are committed to continually improve how we harness solar energy.”
Recently, the company announced a Q4 loss of $0.76, missing estimates by $0.45. Below its 200-day MA of $4.37, Suntech Power Holdings (News - Alert) is currently below its 50-day moving average (MA) of $3.12. In the last five trading sessions, the 50-day MA has climbed 1.16% while the 200-day MA has slid 1.68%, the company stated in a press release.
Edited by Chris Freeburn