DuPont and Yingli Energy (China) Company Limited (“Yingli China”) have signed a $100 million strategic agreement for photovoltaic materials aimed at accelerating the adoption of solar energy to address one of the world’s biggest challenges – reducing dependence on fossil fuels.
- In the PV industry, there is still a lot of opportunities for material suppliers
- Materials enabling higher cell and module efficiencies and more reliable products are the most demanded.
Yingli China is a wholly owned subsidiary of Yingli Green Energy Holding Company Limited (“Yingli”), a leading solar energy company and one of the world's largest vertically integrated photovoltaic manufacturers.
The agreement was signed in a ceremony in Washington, D.C., which was organized by the U.S. Department of Commerce and the Ministry of Commerce People's Republic of China, and hosted by the U.S. Chamber of Commerce. Under the terms of the agreement, Yingli will purchase photovoltaic materials including DuPont™ Solamet® photovoltaic metallization pastes used in solar modules and protective backsheet for solar modules made with DuPont™ Tedlar® polyvinyl fluoride film.
According to industry estimates, over the next five years, 20 percent average annual growth is expected in solar installations globally.
DuPont achieved about $1.4 billion in sales to the photovoltaic market in 2011, and has set a goal to reach $2 billion in sales by 2014, based on continued, strong demand for its products.