Oxford PV, in collaboration with the Fraunhofer Institute for Solar Energy Systems, has developed the world’s most efficient solar panel, achieving a 25% conversion efficiency. This surpasses the typical 24% efficiency of commercial modules and is a significant step forward in the clean energy transition. With solar power being a major contributor to renewable capacity additions, this advancement in efficiency could greatly impact the push towards net zero and an all-electric future by increasing power generation over the same area and reducing electricity costs.
The company, a University of Oxford spin-out, specializes in perovskite-on-silicon tandem solar cells, which can theoretically reach over 43% efficiency, outperforming traditional silicon solar cells that peak at less than 30%. Oxford PV’s Chief Technology Officer, Chris Case, emphasizes that their record-breaking solar panels are indicative of an impending solar revolution, with their tandem cell technology playing a significant role. The technology is expected to enhance module efficiency, producing more electricity from the same area, and expanding its application across various market sectors.
2024 is anticipated to be a transformative year for Oxford PV as it aims to scale up manufacturing and establish a new factory for high-volume production of its tandem solar cells. CEO David Ward highlights the new efficiency record as a critical milestone, demonstrating the potential of their tandem solar cells when assembled into solar panels. The company is preparing to deliver market-ready panels from their German factory and is in the process of identifying a location for a new high-volume manufacturing site.
The breakthrough panel produced by Oxford PV and Fraunhofer ISE delivered 421 watts from an area of 1.68 square meters. The manufacturing process utilized mass production equipment optimized for tandem technology. Calibrated measurements were conducted using a multispectral solar simulator to closely replicate natural sunlight conditions. Oxford PV, founded in 2010, is dedicated to the development and commercialization of perovskite-based solar technology, with a research and development site in the UK and a production line in Germany. The company has already achieved a world-record 28.6% efficiency for its perovskite-on-silicon tandem solar cell and aims to surpass 30% efficiency.
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