Oxford PV, a company that originated from the University of Oxford, claims to have achieved a world record for the most efficient solar panel. In collaboration with Germany’s Fraunhofer Institute for Solar Energy Systems, the company’s solar panel achieved a conversion efficiency of 25%, surpassing the typical 16-24% efficiency of commercial solar panels.
The key to Oxford PV’s success lies in its perovskite-on-silicon tandem solar cells, which have the potential to reach over 43% efficiency. This far exceeds the theoretical limit of traditional silicon solar cells, which is less than 30%. The record-setting panel produced 421 watts over an area of 1.68 square meters using standard mass production equipment optimized for the tandem technology.
To verify its efficiency claim, Oxford PV utilized Fraunhofer’s multispectral solar simulator, which recreates natural sunlight in a laboratory setting to test the panel’s perovskite and silicon layers. The company has also achieved a 28.6% efficiency record for its commercial-sized perovskite-on-silicon tandem solar cell and has plans to further improve the technology’s efficiency beyond 30%.
This achievement is significant because solar power is a major contributor to renewable energy sources. By increasing the efficiency of solar panels, Oxford PV has the potential to revolutionize the industry by generating more power from the same space. This could lead to cheaper electricity and a faster transition to clean energy.
Chris Case, the chief technology officer at Oxford PV, believes that the company is on the verge of a solar revolution. He stated, “2024 is set to be a pivotal year for Oxford PV, as the company scales up manufacturing and continues to progress plans for a new factory to produce its tandem solar cells in high volumes.”
In conclusion, Oxford PV’s breakthrough in solar panel efficiency has the potential to transform the renewable energy landscape. By harnessing the power of perovskite-on-silicon tandem solar cells, the company is paving the way for a more efficient and cost-effective transition to clean energy.
