[Fraunhofer ISE] Photovoltaics is a fast growing market: The Compound Annual Growth Rate (CAGR) of PV installations was 24% between 2010 to 2017. The intention of the "Photovoltaics Report" published by Fraunhofer ISE is to provide up-to-date information on the PV market and on efficiencies of solar cells, modules and systems. Moreover, data on inverters, energy payback time and price developments are presented.
The record lab cell efficiency is 26.7% for mono-crystalline and 22.3% for multi-crystalline silicon wafer-based technology. The highest lab efficiency in thin film technology is 23.4% for CIGS and 21.0% for CdTe solar cells. In the laboratory, high concentration multi-junction solar cells achieve an efficiency of up to 47.1% today. With concentrator technology, module efficiencies of up to 38.9% have been reached. Graph: Fraunhofer ISE 2019.
