According to the company, the global PV market is expected to grow from 5,550MW in fiscal 2009 (April 2008 – March 2009) to approximately 8,000MW in fiscal 2012 (April 2011 – March 2012), with the introduction of new PV-related stimulus programs in Japan, feed-in-tariff systems spreading in Europe, and projected growth in the North American market. Mitsubishi Electric‘s expansion of production capacity is in response to this sharp increase in global demand for PV systems.
Mitsubishi Electric plans to install new equipment at its Iida Factory to manufacture monocrystalline silicon PV cells, and start production by March 2011. The company will also build new production lines to manufacture monocrystalline silicon PV modules at its Nakatsugawa Works Kyoto Factory in Kyoto Prefecture. Monocrystaline silicon PV modules will enable PV systems to generate relatively more electricity on limited surfaces compared to polycrystalline silicon PV modules.
The company plans to develop monocrystalline silicon PV cells using the technologies that enabled Mitsubishi Electric to achieve photoelectric conversion efficiency of 19.3% in a 150mm x 150mm polycrystalline silicon PV cell. Mitsubishi Electric intends to incorporate these PV cells in its future PV modules.
In response to the large increase in demand for PV inverters for residential-use in the Japanese market, Mitsubishi Electric said that it will raise its monthly PV inverter production capacity at its Nakatsugawa Works by 50% from 4,000 units to 6,000 units in May 2010.
