Oxford researchers have their solar ambitions set on terawatts.
To help the world transition to renewable energy, Oxford PV, a spinoff of research from the storied U.K. university, plans to commercialize breakthrough solar panel tech that can provide unprecedented amounts of power per sunbeam, according to CleanTechnica and the firm.
The secret is combining perovskite with silicon. Perovskite is a family of crystalline minerals that the U.S. Energy Department says has "potential for high performance and low production costs in solar cells." Silicon is an already common material used in power-producing suncatchers.
By combining the two with unique science, Oxford PV researchers said they have set a "world record" 26.9% efficiency rate. Commonly available panels can turn sunlight into electricity with an efficiency of less than 23%, per MarketWatch.
The Oxford concept was proved with a 60-cell residential-sized unit featuring perovskite-on-silicon tandem cells. This is important because producing more power per cell could help lower the cost of solar setups.
The double-glass module is about 17.2 square feet and weighs less than 55 pounds. The research team said it's "ideal" for household use. The results were independently certified.
"Homeowners along with commercial and utility customers will all benefit from … more power with the same footprint. Not only does this save installation costs, it also speeds up the decarbonization journey and can contribute to the global energy transition in a meaningful way," Oxford PV CEO David Ward said in a press release.
The experts plan to scale manufacturing "to gigawatt volumes within the next few years to address the multi-terawatt market needs." For reference, the world consumes about 25,500 terawatt hours of electricity a year, according to Oxford PV and data collector Statista.
About 3.4% of U.S. electricity is generated from sunlight, the U.S. Department of Energy said. However, solar innovations that improve efficiency and lower costs are regularly reported. New York City's WAVJA is working on small spheres that can turn even artificial light into massive amounts of power.
What's more, there are a couple of options readily available that can help you harness the sun's power now. Community solar programs tap energy from solar farms without installing panels at your home. Some quick research online can put you on the path to savings. For home setups, tax breaks are making the systems more affordable. The utility bill savings can be from $150 to around $1,500 a year, depending on the route you take.
Importantly, you will be cutting the amount of heat-trapping air pollution generated by burning fossil fuels. The American Lung Association reports that the fumes include harmful gases that can cause serious health problems.
For now, the Oxford PV team is working to ensure future panels will be as efficient as possible.
"We are taking the next steps to bring this high-efficiency solar technology into commercial use to support our vision of an all-electric future," chief technology officer Chris Case said.
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