In a recent interview with Mark, Executive Editor of Caijing Magazine, Li Zhenguo, founder and president of LONGi addressed market concerns regarding the company’s market structure, technological roadmap selection, and the competitive landscape of the photovoltaic (PV) industry. Below are key excerpts:
1. Market Structure
Q: Industry fundamentals remain unchanged: Why is LONGi confident about growth?
Li Zhenguo: In 2024, LONGi implemented three major adjustments. First, we achieved breakthroughs in second-generation BC (Back Contact) cell technology. By the second half of 2025, we’ll achieve 50GW proprietary BC cell capacity plus about 10GW through partnerships, totaling 60GW—making this the world’s most advanced mass-produced PV product. Second, we optimized organizational efficiency by eliminating redundancies and enhancing team capabilities. Third, the company clarified its strategic positioning beyond module manufacturing. It will continue to expand scenario-based applications, including solar energy storage solutions and development of hydrogen-ammonia-methanol projects.
2. Technology Roadmap Selection
Q: Why is LONGi confident about BC cells despite market doubts?
Li Zhenguo: The physics principle is straightforward: front-side grid lines obstruct sunlight. By relocating electrodes to the backside, BC cells eliminate shading losses, boosting efficiency. However, technical complexity and high costs previously deterred industry adoption. LONGi spent 7-8 years innovating to overcome these challenges. BC technology represents a milestone in PV history, surpassing monocrystalline silicon in technical difficulty.
Q: Are BC cell costs and yields resolved?
Li Zhenguo: Fully resolved. Our second-gen BC products now achieve yields exceeding 98%, comparable or superior to TOPCon. The BC’s cost metrics will become evident in Q3/Q4 financial reports. Notably, BC’s co-planar electrode design enables easier bypass configurations, unexpectedly enhancing module safety—an advantage we initially overlooked. We project BC cells will capture over 30% market share by 2028 and exceed 50% by 2030.
Q: Contingency plans if BC underperforms?
Li Zhenguo: There is no scenario where “BC technology might fail” because we will pursue superior solutions and newer technological breakthroughs. Over the past seven to eight years, while first-generation BC products met all projected technical benchmarks, TOPCon advanced at a faster pace, making BC appear less competitive initially. However, through continuous exploration and research, our second-generation BC products have now matured and outperformed TOPCon. Future iterations will deliver even higher efficiency. Although first-gen BC lacked mass production competitiveness, it established critical technological foundations for the BC platform, enabling the smooth launch of second-gen products.
LONGi adheres to a principle we call “broad research, focused implementation.” This means maintaining parallel exploration of multiple technological pathways during R&D. Therefore, there is no “dead end” for BC technology—we are simultaneously developing alternative solutions as well.
Q: What’s next after BC technology?
Li Zhenguo: Monocrystalline silicon cells approach their theoretical 29.4% efficiency limit, with labs nearing 28% and mass production at ~27%. Tandem cells emerge as the next frontier for cost reduction. However, perovskite tandem technology remains immature, with engineering feasibility still unproven.
3. Competitive Advantages of China’s PV Industry
Q: How has China’s PV industry achieved such a leading global position?
Li Zhenguo: This achievement stems from the relentless dedication of China’s PV professionals and reflects our nation’s industrious spirit. Additionally, PV technology has largely remained open-source over the past decade. Innovations quickly become industry-wide common knowledge, with new technologies disseminated throughout the entire sector via equipment and raw material suppliers.
About LONGi
Founded in 2000, LONGi aims to be the world’s most valuable solar technology company, driving comprehensive energy transition through customer-centric innovation.
As a global industry leader, LONGi invested CNY 5.014 billion in R&D in 2024, representing 6.07% of annual revenue, maintaining technological leadership with dual world efficiency records in monocrystalline silicon single-junction cells and perovskite-silicon tandem cells. LONGi leads in ESG performance with its 2024 MSCI rating upgraded to BBB, achieving the highest ESG scores among A+H-listed semiconductor companies and ranking first in the photovoltaic sector. As China’s first PV enterprise to join RE100, EP100, EV100 and SBTi initiatives, LONGi remains committed to advancing green development and building a carbon-neutral future.
www.longi.com
Photo Source: Caijing magazine
