Oxford PV sets new solar panel efficiency world record
© Fraunhofer Institute for Solar Energy Systems
Oxford PV, a pioneer in next-generation solar technology, has set a new record for the world’s most efficient solar panel, marking a crucial milestone in the clean energy transition.
Produced in collaboration with the Fraunhofer Institute for Solar Energy Systems, the panel achieved a record 25% conversion efficiency, a significant increase on the more typical 24% efficiency of commercial modules.
With solar power accounting for three-quarters of renewable capacity additions worldwide in 20231, increasing the efficiency of solar panels has transformative potential in the drive towards net zero and an all-electric future. As the installation of solar power continues to gather pace, more efficient solar panels will generate more power over the same area, reducing the cost of electricity and further accelerating the adoption of clean energy.
Oxford PV, a spin-out of the University of Oxford, is a world leader in the development of perovskite-on-silicon tandem solar cells, which have a theoretical maximum efficiency of over 43%, compared to less than 30% for silicon solar cells.