Maxeon Solar achieves record efficiency of 24.7%, other improvements

Maxeon Solar Technologies Ltd (NASDAQ:MAXN) on Thursday announced a world-record module aperture efficiency measurement for its Maxeon 7 panel and a couple of efficiency improvements to IBC products.

The Singapore-based photovoltaic (PV) panels maker that was spun off from SunPower in the summer of 2020, said in a statement that the US National Renewable Energy Laboratory (NREL) has confirmed the measurement of a 24.7% module aperture efficiency for a full-scale Maxeon 7 panel.

At the same time, the company has achieved efficiency improvements to its existing Interdigitated Back Contact (IBC) products. More specifically, it is now shipping 23% efficient Maxeon 6 panels to Europe and is getting ready to deliver a 24% efficient version of the Maxeon 3 panels in the final quarter of the year.

"Our technology team continues to increase the performance of our IBC technology platform to efficiency levels that were not anticipated when we launched our first commercial products almost twenty years ago. Most importantly, these achievements are not one-off laboratory results but mainstream production technologies that increase customer value and extend our differentiation versus our competitors,” CEO Bill Mulligan stated.

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