The North America Heterojunction (HJT) Solar Cell Market would witness market growth of 16.2% CAGR during the forecast period (2024-2031).
The US market dominated the North America Heterojunction (HJT) Solar Cell Market by Country in 2023, and would continue to be a dominant market till 2031; thereby, achieving a market value of $641.4 Million by 2031. The Canada market is experiencing a CAGR of 18.7% during (2024 - 2031). Additionally, The Mexico market would exhibit a CAGR of 17.7% during (2024 - 2031).
Heterojunction (HJT) solar cells are renowned for their lower temperature coefficients than other photovoltaic technologies. This attribute means that HJT cells experience a smaller decline in performance when exposed to high temperatures. This is a significant advantage in hot climates where solar panels often operate under intense sunlight, leading to elevated panel temperatures that can diminish the efficiency of other solar cell types.
The reduced susceptibility of HJT solar cells to light-induced degradation (LID) stems from their unique construction. Amorphous silicon is deposited in thin layers on both surfaces of a crystalline silicon wafer to produce these cells. The amorphous silicon acts as a passivation layer, which helps to protect the crystalline silicon core and reduce defects that can lead to recombination losses. This structure not only enhances the initial efficiency of the solar cells but also minimizes the potential for efficiency losses due to light exposure.
Mexico has enormous potential to develop renewable energy projects. The country has high solar radiation, wind capacity, and geothermal sources. According to Mexico’s Energy Transition Law (Ley de Transición Energética) and General Climate Change Law (Ley General de Cambio Climático), Mexico’s goal is to 35 percent of electricity from clean energy sources by 2024. Mexico has been working on enhancing its solar energy infrastructure with several initiatives encouraging the use of high-efficiency solar technologies.
This push is aligned with global trends where countries seek to reduce carbon emissions and capitalize on the superior performance of HJT technology, especially its high energy yield and lower temperature coefficient, which are ideal for Mexico’s predominantly sunny climate. Thus, as the North American market continues to evolve, these factors collectively drive the increasing adoption of HJT solar cells.
Free Valuable Insights: The Heterojunction (HJT) Solar Cell Market is Predict to reach USD 4.6 Billion by 2031, at a CAGR of 17.3%
Based on Type, the market is segmented into Bifacial Cell, and Monofacial Cell. Based on Application, the market is segmented into Residential, Commercial, and PV Power Station. Based on countries, the market is segmented into U.S., Mexico, Canada, and Rest of North America.
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