This material is so powerful that it shouldn’t exist

Oxford PV, an energy offshoot company of the University of Oxford, has set a new solar panel efficiency world record. The innovative perovskite-on-silicon tandem panel produced an output of 25% efficiency, which is a significant improvement on average figures being recorded in currently operating systems and a positive sign for the development of the renewable energy sector.

Oxford PV sets world solar panel efficiency record with tandem solar cells

Oxford PV is a solar technology company with operations in Brandenburg an der Havel, Germany. It leverages world-leading research and development programs by Professor Henry Snaith and others from Oxford University in the United Kingdom. The pioneer photovoltaic outfit has just made a massive leap in solar electricity generation with its state-of-the-art perovskite-silicon PV product, which the team can now boast has broken a world record.

Oxford PV’s tandem solar cells, which are produced in collaboration with the Fraunhofer Institute for Solar Energy Systems, have a theoretical maximum efficiency of more than 43%, whereas silicon solar cells offer 30%. In practice, the panel proved itself with a 25% efficiency in its output, breaking the record and demonstrating a significant level-up from the 21% to 23% efficiency that current commercial systems are producing.

Breakthrough renewable power technology has transformative potential

Statistics reveal that solar power made up three-quarters of the global renewable energy capacity in 2023, so in the solar sector, more than any other, leaps in technology have immense potential in the drive toward lowering carbon emissions. The increasing number of solar installations inevitably means that the cost of electricity and solar power systems will drop, meaning that more people will adopt alternative options to fossil fuel-generated electricity.

Chris Case, Chief Technology Officer at Oxford PV, said:

“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. 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.”

Rigorous testing proved the efficiency of the tandem solar module in reality

The Oxford PV perovskite-silicon module delivered an output of 421 watts across an area of just over 18 square feet, making it the most efficient of its kind under industrial application. Equipment available at Fraunhofer ISE’s Module-Technology Evaluation Center that’s already used for mass production was modified and optimized for the manufacture of Oxford PV’s perovskite-silicon solar cell.

To determine the module efficiency, CalLab PV Modules, a subsidiary of Fraunhofer ISE, conducted calibrated measurements using a multispectral solar simulator, which mimics the conditions of natural sunlight. To make the data reliable, exact, and verifiably reproducible, the silicon cell and perovskite layers were separately illuminated under different LED light sources, monitored, and measured.

Oxford PV is the renewable energy company to watch

Oxford PV is cementing itself firmly as the leader in perovskite solar cells, which are its exclusive focus. Established in 2010 under the auspices of the University of Oxford, it started out strong with an exceptional team of scientists and researchers at the helm, and it’s progressing full steam ahead.

The research and development site is located in Oxford, UK, and the integrated production line was set up near Berlin, Germany. The short-term plan is to develop the solar cell technology to at least 30% efficiency while setting up full-scale, mass manufacturing facilities.

David Ward, Chief Executive Officer of Oxford PV, expressed his confidence after setting the world efficiency record:

“This new world record is a crucial milestone for Oxford PV, proving that our tandem solar cells can deliver record-breaking performance when assembled into solar panels. It is the first step in what will be a transformative 2024 as we begin to deliver market-ready panels from our factory in Germany and continue our global search for a new high volume manufacturing site that will enable us to bring our technology into the mainstream.”

With the news filtering through the solar generation community across the world, all eyes are on Oxford PV’s groundbreaking photovoltaic system as the company ups its game in the global transition to renewable energy.