SEOUL, April 7 (Yonhap) — LG Electronics Inc. on Wednesday introduced its new solar modules that boast high efficiency as the South Korean tech giant aims to expand its presence in the clean energy sector.
LG said its NeON H series solar modules will hit the shelves later this month starting in countries like South Korea, the United States, Germany and Australia.
The latest solar modules use N-type bifacial solar cells that are used in premium solar products, according to LG.
It also applied half-cut technology that lowers resistive losses from the cell.
LG said its new product achieved 21.2 percent efficiency and has a power output rating of 390 watts. Efficiency refers to the amount of solar energy that can be converted via photovoltaics into usable electricity.
The company will also offer a 25-year warranty that guarantees that the new modules can produce at least 90.6 percent of their labeled power output even after 25 years.
LG expects the global solar power market will grow from 180 gigawatts this year to 240 gigawatts in 2024.