Oxford PV’s Solar Technology Will Be Exhibit At The Intersolar Europe Exhibition In Munich, Germany Until June 21, 2024
Categories: News
Tags: Oxford PV, Solar
2 min read
By Michael Phoon • June 19, 2024
With electric vehicles (EVs) sharing the goal of accelerating the global transition to renewable energy, Oxford PV has announced a new world record for solar panel efficiency, achieving an unprecedented 26.9% conversion rate.
Oxford PV, a spin-off company from the University of Oxford, produced its 60-cell residential-size solar panel using its proprietary perovskite-on-silicon tandem solar cell technology. This technology surpassed the current best silicon panels, which generally achieve efficiencies of around 25% with a similar designated panel area.
The unprecedented achievement was independently measured and certified by Germany’s prominent Fraunhofer CalLab. The double-glass module, with a designated area of merely over 1.6 square meters and weighing under 25 kilograms, is an ideal size for residential applications.
Breaking Previous Efficiency Records
Moreover, the breakthrough comes from Oxford PV’s previous efficiency record of 25% on an industrial-size module, reported in January 2024. Furthermore, Oxford PV’s proprietary tandem solar cell technology combines perovskite and silicon-based photovoltaic materials, enabling higher efficiencies than traditional silicon solar cells, which have a theoretical limit of less than 30%. In contrast, perovskite-on-silicon tandem solar cells could theoretically achieve efficiencies exceeding 43%.
Notably, Oxford PV produces its high-efficiency tandem solar cells at its production plant in Brandenburg an der Havel, Germany, and utilizes both in-house and contract services for module assembly. In addition, the company has plans to scale up its production of tandem solar cells to gigawatt volumes within the next few years.
David Ward, CEO of Oxford PV, expressed enthusiasm for the unprecedented achievement stating, ” Oxford PV’s record-setting module represents a significant advancement for solar power generation. Homeowners along with commercial and utility customers will all benefit from upwards of 20% more power with the same footprint. Not only does this save installation costs, it also speeds up the decarbonization journey and can contribute to the global energy transition in a meaningful way.”
As Oxford PV aims to address the multi-terawatt market needs and accelerate the adoption of highly efficient solar technology worldwide, its breakthrough achievement in solar panel efficiency represents a major stride forward. Oxford PV will showcase its solar technology at the Intersolar Europe exhibition in Munich, Germany until June 21, 2024.
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