The Value of CPV Module Efficiency

The value of module efficiency in photovoltaics (PV), especially concentrating photovoltaics (CPV), is presented using analysis of the Levelized Cost of Energy (LCOE). The analysis starts with a fixed tilt flat plate PV system, and extends to a tracking flat plate PV system and to a CPV system. This paper quantitatively demonstrates that, high module efficiency is a prerequisite for success of CPV to realize low cost PV energy.