New solar efficiency world record shows huge potential of tandem technology

British solar developer Oxford PV announced on Wednesday that it had set a new world record for solar efficiency of 25% using its perovskite-on-silicon tandem solar cells.

Produced in collaboration with solar powerhouse Fraunhofer Institute for Solar Energy Systems, the new Oxford PV solar panel achieved a record 25% conversion efficiency – a significant increase on the more common 24% efficiency seen in commercial modules.

The glass-glass solar PV module was produced by a research team from Fraunhofer ISE using perovskite silicon tandem solar cells from Oxford PV, and boasts not only a 25% conversion efficiency but an output of 421 watts on an area measuring 1.68 square metres.

Fraunhofer ISE describes the resulting module as “the world’s most efficient silicon perovskite tandem solar module in industrial format”.

“This makes it more efficient than any silicon PV module ever built in industrial format,” said Prof. Dr. Stefan Glunz, head of photovoltaics at Fraunhofer ISE.

“The fact that mass production-compatible technology was used for its manufacture demonstrates the enormous potential of tandem technology for the PV industry.”

Oxford PV, a spin-out of the University of Oxford established in 2010, is a world leader in the development of perovskite-on-silicon tandem solar cells, which have a theoretical maximum efficiency of over 43%, compared to less than 30% for silicon solar cells. 

 “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,” said Chris Case, chief technology officer at Oxford PV.

The next 12 months are set to be pivotal for Oxford PV, as the company scales up its manufacturing capacity while continuing to progress plans for a new factory to produce its tandem solar cells in high volumes.

“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,” added David Ward, Oxford PV CEO.

“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 which will enable us to bring our technology into the mainstream.”