Oxford PV celebrates a conversion rate of 29.5 percent with perovskite solar cells
With its perovskite solar cell, which is capable of converting 29.5 percent of solar energy into electricity, Oxford PV is celebrating a new milestone.
According to the firm, this has been accredited by the National Renewable Energy Laboratory based in Colorado, USA, and is between 15 percent and 20 percent in relation to the average conversion rate of silicon cells and a realistic maximum conversion rate of about 26 percent.
A thin film of perovskite is coated with the company's silicon solar cells to better use photons across the solar spectrum. Perovskite is inexpensive, renewable and has the ability to replace silicon fully, according to Oxford PV, with 35g of perovskite providing the same amount of power as seven tons of silicon.
Oxford PV will be the first company to sell to the public the new generation of solar cells from 2022 onwards.
Dr Chris Case, chief technology officer at Oxford PV, said the company’s solar cells and modules “not only demonstrate record efficiency” but have also passed externally measured reliability tests from the International Electrotechnical Commission.
“The considerable progress we have made is thanks to our dedicated and skilled scientists and engineers in the UK and a validation of the entire global perovskite research community who have been contributing to making perovskite successful.”
In 2018, Oxford PV initiated a five-year perovskite research program of £ 5 million aimed at achieving an efficiency of 37 percent, having achieved an efficiency of 27.3 percent that year.
In a Series D funding round in 2019, it raised £ 31 million to help commercialize perovskite technology, and several months later received £ 34 million for a 200 MW heterojunction solar cell line that was intended to start manufacturing perovskite by 2020.
nk P. Averdung, chief executive officer at Oxford PV, said: "We are currently at a global tipping point - climate change is dramatically worsening and the need to use alternative forms of energy has never been greater. Our solar cells are critical in accelerating the adoption rate of solar and tackling the ever-worsening issue of climate change."