Oxford PV says it has set a new world record for the most efficient solar panel, produced in collaboration with the Fraunhofer Institute for Solar Energy Systems.
The panel achieved a 25% conversion efficiency, an increase from the more typical 24% efficiency of commercial modules, the company added.
Oxford PV, a spin-out of the University of Oxford, is developing perovskite-on-silicon tandem solar cells, which have a theoretical maximum efficiency of more than 43%.
“Our record-breaking solar panels demonstrate that we are on the cusp of the next solar revolution, which will be delivered, in part, by our tandem cell technology,” says Chris Case, Oxford PV CTO.
“Solar energy is currently among the most cost-effective and sustainable energy sources. Our continuous advancements in technology will further enhance module efficiency, producing more electricity from the same area, and extending their use to all market sectors from residential, commercial through to utility scale.”