Sanyo Electric Co Ltd achieved a cell conversion efficiency of 23% in its HIT (heterojunction with i

clipped from www.worldofrenewables.com Sanyo President Seiichiro Sano made this announcement at the press conference on financial statements May 14, 2009. The efficiency is on the research and development level, not the volume production level. The details will be disclosed in the near future, according to the company. Sanyo previously attained a conversion efficiency of 22.3% at maximum on the research and development level. At the press conference, Sano spent much time to explain future strategies on the solar cell business. Though the business is currently being affected by the global recession, Sanyo will focus its management resources on the solar cell business, expecting that "it will certainly grow in the long run," he said. Sanyo forecasts that the solar cell market in fiscal 2009 (April 2009 to March 2010) will drop to 5GW, which is smaller than that in the preceding fiscal year