Tesla EV Batter Supplier CATL Wants to Catch Up to Peers, Gets In Solar Panels

Chinese EV battery producer Contemporary Amperex Technology Co Ltd is researching the development of perovskite cells to drive new improvements in solar panel performance, joining similar endeavors by Tesla Inc TSLA.
The Tesla supplier also inked a deal with JA Solar Technology Co, China’s fourth-biggest module maker, to cooperate on scientific innovations, marketing, and storage, Bloomberg reports.
Electric vehicle-to-battery producer BYD Co, Ltd BYDDF BYDDY has built capacity both domestically and overseas to make wafers, cells, and modules and can produce about 5 gigawatts of panels a year.
Also Read: Tesla Supplier CATL Prepares To Monetize EV Batteries Under M3P Technology As Competition Heats Up
Tesla increased solar deployments by 40% year-on-year in the first quarter.
While the global solar market is increasing — with installations likely to rise more than a third to 344 gigawatts in 2023, according to BloombergNEF — supply is expanding even faster.
About 19 gigawatts of residential solar systems in the U.S. alone will add a battery between 2023 - 2030, BloombergNEF forecasts.
Battery makers are more interested in the sector as home, and industrial systems are increasingly pairing with energy storage.
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