In November 2024, China and South Korea escalated their rivalry for dominance in the global solar panel market. Both countries—leaders in photovoltaic manufacturing—announced breakthrough technological achievements. Their aim: to control the next generation of solar systems, targeting record efficiency and reliability by 2030. The Koreans unveiled a 33.6 billion won (USD 22.8 million) investment plan to commercialize tandem perovskite-silicon panels. China countered with research from Longi—the first company worldwide to achieve 33.35% efficiency in a flexible tandem cell, a result verified by the US-based NREL laboratory [1][2][3][4].
China Isn’t the Only Power Broker
Contrary to the widespread belief that China holds a monopoly over photovoltaics, South Korea is determined not to play a supporting role. On November 26, 2024, the Ministry of Economy and Finance revealed a strategy to challenge China’s dominance (currently over 80% of global panel production). The government is targeting 35% efficiency for tandem cells and 28% for modules by 2030. “Commercializing next-generation solar modules will focus on restructuring the solar cell industry ecosystem by securing key technologies for ultra-high-efficiency tandem solar cells,” announced Minister Koo Yun-cheol. Korea plans to implement national and international standards and launch certification systems to build a market for this technology [1][2].
Tandem Cells: The Race for Numbers and Certifications
Longi in China wasted no time responding to its rivals. On November 9, 2024, a publication in Nature sent ripples through the industry. Their flexible perovskite-silicon tandem cell, built on an ultra-thin 60-micron wafer, achieved 33.35% efficiency and retained over 97% of its initial performance after 43,000 bending cycles. This is the first such record confirmed by international institutions. A larger 260 cm² variant reached 29.8% efficiency—both results pushing the boundaries of commercial viability [2][5][1].
On another front, Chinese scientists from Guangdong Power Grid unveiled a hybrid microgrid that combines solar power with small modular nuclear reactors. In year-long simulations, the system delivered over 98% power reliability for key users, cut operational costs by 18.7%, and reduced CO₂ emissions by 37.1%. The key? Advanced distribution planning paired with reinforcement learning algorithms [6][7][8].
Solar, Nuclear, and AI—New Energy Priorities
South Korea isn’t slowing down. By 2028, it aims for 32% tandem cell efficiency—a milestone on the way to 35% by 2030. The government will use tax incentives, financial support, and regulatory changes. In 2025, Korea will invest in 14 ongoing research projects and building-integrated photovoltaic technologies [1][2].
Both economies see solar innovation as the backbone of energy security and climate action. China surpassed its 2030 renewables target in 2024, installing a record 277 GW of solar panels. Korea plans to triple its share of renewables by decade’s end to meet soaring demand from the AI and semiconductor sectors. Who will win this race? For now, neither side is backing down [3][4].