The new panel design delivers significantly higher module efficiency compared with conventional silicone based technology.
Overall, the Oxford PV 72-cell panels can offer 24.5% efficiency. A recent test achieved a record of 26.9% efficiency, with a theoretical maximum of more than 43%. This equates to around 20% more power generated when gauged against standard equipment.
The design is made from the Oxford University spin-off company’s proprietary perovskite-on-silicon solar cells, with the inaugural customer now confirmed as a US-based entity. This month the buyer became the first in the world to invest in a commercial application for the technology.
‘The commercialisation… is a breakthrough for the energy industry. High-efficiency technologies are the future of the solar industry, and that future is starting now,’ said David Ward, CEO of Oxford PV. ‘Solar innovation will allow us to faster electrify and decarbonise our transportation, homes, and industries. With more electricity generation from the same area, perovskite technology is now helping utilities speed up this transition by offering more energy at a lower cost.’
‘At an early stage, we identified the huge potential of perovskites in high efficiency solar power generation and we have supported Oxford PV to become a global leader, not only through multiple record-breaking efficiency achievements in the laboratory, but also on their path to commercialisation of the technology,’ added John Bromley, Managing Director, Climate & Clean Energy Investments at Legal & General, a partner of Oxford PV. ‘Companies with high growth potential like Oxford PV are delivering new technologies, solutions and infrastructures that will play a crucial role in the climate transition.’
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