Korea Challenges China’s Solar Dominance with Tandem Cells: Is Victory Possible?
Editor
I read an intriguing article today on Green Post Korea. It discusses Korea’s challenge to China’s solar dominance using tandem cell technology. Whenever I see such headlines, I can’t help but wonder, “Is this realistically possible?” Can a single technology change the game when China accounts for over 80% of global solar module production?
According to the article, Korea is embarking on the world’s first commercialization of tandem cell technology. Tandem cells maximize efficiency by stacking two or more solar cells vertically, potentially surpassing the existing silicon solar cell efficiency limit of 26.7% to achieve over 30%. The numbers are certainly appealing.
Personally, while I welcome such technological advancements, I also feel a sense of concern. Korea’s solar industry has been struggling against China for quite some time. Companies like Hanwha Solutions and LG Chem possess solid technological capabilities, but they have found it challenging to match the price competitiveness of Chinese companies.
As of November 2025, China’s dominance in the solar market has become even more entrenched. Chinese companies like JinkoSolar, LONGi Solar, and Trina Solar occupy 7-8 of the top 10 spots in global solar module shipments. Notably, JinkoSolar shipped over 75GW of modules in 2024 alone, a figure several times larger than Korea’s total solar installation capacity.
Can Tandem Cell Technology Really Be a Game Changer?
Tandem cell technology is undoubtedly innovative. In laboratory settings, perovskite-silicon tandem cells, which combine perovskite with silicon, have already achieved over 33% efficiency. This is more than 25% higher than conventional silicon solar cells. If this technology is successfully commercialized, it would allow for more power generation from the same area.
However, the key here is “commercialization.” Laboratory success and mass production are entirely different stories. Take First Solar, for example; despite pursuing a different path with CdTe (cadmium telluride) technology, it still struggles with price competition against Chinese companies. As of 2024, First Solar’s average module selling price is around $0.30 per watt, while Chinese silicon modules have dropped below $0.15.
The biggest issue with tandem cells is manufacturing cost. The stability of perovskite materials also remains a challenge. European companies like Oxford PV and Saule Technologies have been announcing the commercialization of perovskite tandem cells for years, yet they have not succeeded in mass production. The technical barriers are that high.
However, the article suggests that the Korean government and companies are making a genuine effort this time. The Korea Institute of Energy Research, Hanwha Solutions, and LG Chem are forming a consortium to actively develop tandem cell technology. The government is also supporting with an R&D budget of 30 billion won by 2026. While the scale is small compared to China’s investments, the focus could be significant.
Realistic Market Prospects and Limitations
Frankly, it seems difficult for tandem cell technology alone to completely overturn China’s solar dominance. Price remains the most crucial competitive factor in the solar market. As of 2025, the global solar market size is approximately $200 billion, with over 80% still relying on a mass production model based on price competitiveness.
However, there could be opportunities in the premium market. In urban areas with space constraints, commercial buildings, and sectors like aerospace where high efficiency is crucial, the high efficiency of tandem cells could be a significant advantage. It’s akin to how SunPower targeted niche markets with high-efficiency silicon solar cells.
It’s also worth noting that Chinese companies like Canadian Solar and Trina Solar are already investing in tandem cell technology. BYD in China began operating a pilot production line for perovskite tandem cells in the second half of 2024, suggesting that Korea’s technological lead may not last long.
Nonetheless, there is hope. Korea’s semiconductor manufacturing technology and expertise could aid in tandem cell production. If precision process technologies accumulated by Samsung Electronics and SK Hynix are applied to solar cell manufacturing, Korea might secure a differentiated competitive edge from Chinese companies.
Additionally, recent tariff policies on Chinese solar products in the U.S. and Europe could present opportunities for Korean companies. The U.S. imposes anti-dumping tariffs of up to 254% on Chinese solar modules, and Europe is showing similar trends. In such a scenario, Korea’s high-efficiency tandem cell products could gain attention as an alternative.
Personally, while it may be challenging for Korea to completely overturn China’s solar dominance with tandem cell technology, it could achieve meaningful results in high-value-added markets. Setting realistic goals is crucial. Rather than trying to capture the entire market, Korea should focus on specific areas where it can have strengths.
Ultimately, technology alone cannot change the market. It requires a combination of mass production capability, price competitiveness, and global supply chain establishment. For Korea’s tandem cell challenge to succeed, a strategy that comprehensively considers all these factors is necessary. I’m genuinely curious about the future developments.
This article was written after reading “Breaking China’s Solar Dominance: Korea’s Bet on World’s First Commercialization of Tandem Cells” and includes personal opinions and analysis.
Disclaimer: This blog is not a news outlet, and the content reflects the author’s personal views. The responsibility for investment decisions lies with the investor, and no liability is assumed for investment losses based on this article.
