SOURCE: REC Group

REC Group

September 25, 2014 12:00 ET

REC Launches High-Performance TwinPeak Series Solar Panels for Major Rooftop Markets Worldwide

MUNICH, GERMANY--(Marketwired - Sep 25, 2014) - REC, the largest European supplier of solar products worldwide, announced today that it will begin production of a new high-performance solar panel. The REC TwinPeak Series, which was introduced this week at REC's annual European Partner event in Munich, will be rated up to 275 watt peak (Wp), resulting in 17% panel efficiency and targets rooftops in the growing residential, commercial, and industrial markets.

Based on an innovative design that provides more power output per square meter, the new panel features 120 half-cut multicrystalline cells, four bus bars, passivated emitter rear cell (PERC) technology, and a split junction box. Together, these technologies enhance power output by around 10 Wp per panel. Like all REC products, the REC TwinPeak Series is 100% free from potential induced degradation, avoiding power losses even in the harshest conditions and environments in terms of high temperatures and humidity.* Production and initial shipments of the REC TwinPeak Series panels will begin in Q1 2015.

Splitting the junction box into three separate units enables the ground-breaking new layout of the REC TwinPeak Series, while also reducing heat build-up and bolstering panel reliability. Furthermore, the half-cut cells -- which are manufactured by laser cutting standard-sized cells in half -- result in a reduction of resistive losses and a higher fill factor. The PERC architecture improves the light absorption of the cell, boosting overall performance, and the addition of a fourth bus bar increases the flow of current, improving efficiency and reliability.

"The new REC TwinPeak Series represents the latest example of our drive to continuously improve our technology and product offering," said Cemil Seber, director of product marketing and global expansion for REC. "Our new product offers a cutting-edge solution on a polysilicon platform that can strongly compete with monocrystalline solar panels on efficiency and performance, which are essential to the rooftop solar markets."

Market research groups expect robust growth for residential, commercial, and industrial segments in several key regions worldwide. Bloomberg New Energy Finance (BNEF) forecasts that more than 1 terawatt of rooftop solar capacity will be added by 2030, mostly in Europe and the U.S. In 2014, GTM Research projects strong double-digit growth for both the U.S. residential and commercial segments in 2014. REC notes surging demand in the commercial rooftop sector in the U.K. and Germany as well as in some Asian countries such as Singapore, due to increasing electricity prices and continuously improving solar system economics. Especially in Germany, the company sees notable potential for commercial self-consumption installations.

The launch of the new product follows the recent introduction of a 72-cell panel for the large commercial and utility-scale sectors. The REC TwinPeak Series panels are manufactured in the company's vertically integrated, fully automated production facility in Singapore.

For further technical information, see also REC Datasheet and Whitepapers.

REC will be exhibiting its REC TwinPeak Series and REC Peak Energy Series panels at Solar Energy UK in Birmingham, October 14-16, 2014, in the BPVA booth I48 as well as the Solar Power International event in Las Vegas, October 21-23, 2014, in Booth 357.

*PID test conditions at Solar Energy Research Institute of Singapore: -1000V, 60°C, RH 85%, 96 hours.

About REC
REC is a leading global provider of solar energy solutions. With more than 15 years of experience, we offer sustainable, high performing products, services and investments for the solar industry. Together with our partners, we create value by providing solutions that better meet the world's growing energy needs. Headquartered in Norway, the company is traded under the name REC Solar ASA and listed on the Oslo Stock Exchange (ticker: RECSOL). Our 1,600 employees worldwide generated revenues of US $647 million in 2013. For more information, visit www.recgroup.com.

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