Oxford PV, a spin-off from the University of Oxford, has announced a groundbreaking achievement in solar panel efficiency, setting a new world record. The company's 60-cell residential-size solar panel has achieved an impressive conversion efficiency of 26.9%, surpassing the current best silicon panels of around 25% with a similar designated panel area.
The efficiency milestone was independently measured and certified by Germany's Fraunhofer CalLab, highlighting the credibility of Oxford PV's technological advancement.
At the heart of Oxford PV's achievement is its perovskite-on-silicon tandem solar cells, which have demonstrated the potential to exceed 43% efficiency. This breakthrough places traditional silicon solar cells, with a theoretical limit of less than 30%, in a less competitive position.
Headquartered in Yarnton, England, Oxford PV produces its proprietary high-efficiency tandem solar cells at its Brandenburg an der Havel, Germany factory.
David Ward, CEO of Oxford PV, commented on the 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.”
The company has outlined a clear roadmap to further enhance its solar panel technology, aiming to exceed 30% efficiency.
