Oxford PV and the Fraunhofer Institute for Solar Energy Systems have set a new efficiency record for a solar panel, achieving 25% conversion efficiency, surpassing the common 24% found in commercial modules.
Oxford PV, a spin-out of the University of Oxford, known for advancements in next-generation solar technology, specialises in perovskite-on-silicon tandem solar cells with a theoretical maximum efficiency exceeding 43%, an improvement over traditional silicon solar cells’ less than 30% efficiency.
David Ward, Chief Executive Officer, Oxford PV, said: “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.
“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.”
