Researchers at Oxford PV, a solar cell technology company funded by the University of Oxford, may have just developed the most efficient solar panels yet.
The company managed to create a solar cell that achieved 28.6% conversion efficiency for its commercial-sized panels — well over the typical 16-24% efficiency of most commercial solar panels. Even better, it said that its panels could theoretically hit up to 43% efficiency.
And while that figure may still be a ways off, Oxford PV said that it has a clear roadmap to over 30% efficiency.
The company achieved this remarkable level of efficiency by using perovskite-on-silicon tandem solar cell technology — the same method as researchers at the University of North Carolina at Chapel Hill who also reportedly broke the record for most efficient solar cells recently.
Regardless of who ends up officially holding that record, it seems clear that the perovskite-silicon tandem is the future of solar energy.
Perovskite has been dubbed a "miracle material" by scientists because of its capacity for absorbing light, combined with the fact that it can be manufactured at room temperature, making it much more sustainable and cheaper than current methods of building solar panels. By combining it with silicon, a more conventional material used in building solar cells, scientists have been able to harness the best qualities of both materials.
One scientist even called it "sort of like Michael Jordan on the basketball court. Great on its own, but it also makes all the other players better."
Electrek's commenters were cautiously optimistic about the breakthrough.
"Pretty much a major triumph in material science as previous chemistries of panels that broke into the 30% + efficiency territory were so expensive they were limited to 'cost is no object' applications in aerospace," wrote one commenter.
"It's too early to make a big deal about this. But solar and battery technology will improve each year. Fossil fuel efficiency has peaked for a long time now," wrote another.
"I think this is great, Solar panels will get better each year with increased wattage and able to provide power on cloudy days," wrote a third.
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