Oxford University (UK) announced a material thinner than a strand of hair called perovskite. Solar cells made from this material can be applied to most products, such as cars or mobile phones.

At 27% efficiency, perovskite rivals silicon but could reach 45% in the future, and is 150 times thinner. The new material promises cheaper solar energy and opens the door to a world where every surface generates energy.

Using perovskite instead of traditional silicon solar cells is a technological advance. Perovskite is a material that can convert solar energy more efficiently.

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Perovskite solar cells have lower stability and wear out faster than silicon cells.

This multi-point approach, which involves stacking multiple layers of perovskite, increased the power conversion efficiency from 6% to more than 27% in just five years, explains Dr. Shuaifeng Hu.

Dr. Junke Wang assessed that this thin coating can not only copy silicon but also surpass silicon due to its added flexibility.

Perovskite solar cell efficiencies have the potential to reach over 45% in the future, making them suitable for large-scale applications. The global average cost of solar energy has fallen by nearly 90% since 2010, and improvements like this promise to bring down costs even further.

Oxford PV has begun large-scale production of perovskite photovoltaics in Germany. However, scaling up production is a challenge. Researchers say it will take time to develop a larger-scale manufacturing process.

Additionally, perovskite solar cells are less stable and degrade faster than silicon cells. Researchers are looking for ways to improve stability and extend their lifespan and commercial feasibility.