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SEMA members have the most advanced next-generation solar technology in the world and are securing capital to scale domestic manufacturing capacity. According to ReTHINK Energy, silicon-based tandem is projected to reach nearly 90% of the world’s solar cell market share by 2040. China is making a power grab by starting commercial production before the technology is proven, aiming to steal the future of solar energy and drain our ability to create massive national wealth. But current trends suggest China may secure the lead. Chinese-owned companies have made major tandem and perovskite investments, are producing double global demand for solar modules and have signed an OPEC-style agreement to control global prices. These government-backed Chinese companies have distorted global solar markets to crowd out U.S. investment. U.S. government testing, funding and procurement is needed to level the playing field for U.S. solar manufacturers and provide confidence in next-generation investments.
With the development of tandem and perovskite solar, the U.S. has the opportunity to develop an all-U.S. supply chain and regain a leading role in solar technology. SEMA members have developed technology that, if scaled, could break China’s advantage in low-cost solar. Next-generation solar will be a critical advantage for defense applications, including in satellites, space applications and drones. U.S. manufacturers of next- generation solar technology are ready to meet the challenge to usher in an era of American energy dominance.
