Oxford PV is setting the pace and pioneering the commercialisation of next-gen solar cells using ‘miracle material’ perovskite.
A new world record has been set for converting sunlight to electricity on a residential-size solar panel. UK-based startup Oxford PV unveiled the next-generation tandem solar cell, which uses the so-called ‘miracle material’ perovskite to boost the performance of conventional silicon-based solar panels.
The perovskite-on-silicon tandem solar cell achieved an efficiency of 26.9 percent, a 1.9 percent improvement on the best current silicon modules that are a similar size. Of course, every extra percent of efficiency is important progress.
Back in 2020, researchers in Oxford discovered that by coating traditional silicon-based solar panels with a thin layer of a crystal material called perovskite, conversion efficiency could be improved by one third - because the crystal is able to absorb different parts of the solar spectrum than traditional silicon. The breakthrough signalled the first major step-change in solar power generation since the technology emerged in the 1950s.
“Oxford PV’s record-setting module represents a significant advancement for solar power generation,” said Oxford PV chief executive David Ward. “Homeowners along with commercial and utility customers will all benefit from upwards of 20 percent more power with the same footprint. Not only does this save installation costs, it also speeds up the decarbonisation journey and can contribute to the global energy transition in a meaningful way.”