Oxford PV will be first company to sell next generation solar cells to public from 2022
Revolutionary perovskite solar technology has set a new world record for the amount of the sun’s energy that can be converted into electricity by a single solar cell, according to Oxford PV on Tuesday.
The groundbreaking cell produced by Oxford PV has been independently proven to convert 29.52% of solar energy into electricity.
In contrast, standard silicon cells used on millions of homes globally have an average conversion rate of just 15-20% and a practical maximum conversion rate of around 26%.
The company’s silicon solar cells are coated with a thin film of perovskite to better utilize photons across the solar spectrum.
According to Oxford PV, perovskite is affordable, sustainable and has the potential to replace silicon entirely, with 35 grams of perovskite generating the same amount of power as seven tons of silicon.
Initial products designed for residential roofs will generate 20% more power from the same number of cells. With further development, the company believes future solar cells be improved significantly.
“Achieving another world record is a fantastic milestone for our perovskite-based solar cell, as it demonstrates that we are one step closer to the provision of highly powerful and lower-cost solar energy”, Frank P. Averdung, chief executive officer at Oxford PV, said.