SEOUL, KOREA: LG Display Co. Ltd, a leading innovator of thin-film transistor liquid crystal display (TFT-LCD) technology, announced plans to focus its R&D capabilities on a thin-film type solar cell and nurture it as a future growth driver.
LG Display plans to invest KRW50 billion into R&D to build a pilot line within its Paju display complex in Korea during the second half of 2009 and build an outdoor test power generation facility.
Further, the company aims to raise the current energy conversion efficiency rate of 8 percent to 12 percent by 2010, and eventually achieve efficiency rate of 14 percent in 2012 to prepare for commercialization. It also plans to secure sufficient commercial value by lowering the manufacturing cost to less than $1 per watt.
In addition, LG Display target the market for cells used in photovoltaic power generation, buildings and public displays during the initial stages of commercialization. The company’s long-term blueprint includes expansion into solar cells for mobile displays and automobiles, as well as solar cells for extreme environments such as offshore photovoltaic power generation stations.
According to US market researcher Nano Markets, the thin-film type solar cell market will grow from $4.6 billion in 2011 to $14 billion by 2015.
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