The Oxford University spinout credits the breakthrough to its perovskite-on-silicon tandem solar cells. Perovskite, <\/span>a <\/span>calcium titanium oxide mineral, is better at <\/span>absorbing light<\/span> than the crystalline silicon used exclusively in most panels and could revolutionise the industry.<\/span>\u00a0<\/span><\/p>\n Designed in collaboration with the Fraunhofer Institute for Solar Energy Systems in Germany, the panels have a theoretical efficiency of 43%, although this has yet to be achieved in a real-world setting.\u00a0<\/span><\/p>\n Solar panels <\/span>accounted<\/span><\/a> for three-quarters of newly installed renewables capacity worldwide last year. Chris Case, chief technology<\/a> officer at Oxford PV, believes advancements in solar cell efficiency put the industry on the \u201ccusp of the next solar revolution.\u201d\u00a0<\/span><\/p>\n TNW Conference 2024 – Speakers announced!<\/p>\n Meet the powerhouse experts that will take the stage on June 20 & 21 in Amsterdam and save your seat today.<\/p>\n<\/div>\n<\/div>\n \u201cOur continuous advancements in technology will further enhance module efficiency \u2013 producing more electricity from the same area \u2013 and extending their use to all market sectors from residential, commercial through to utility-scale,\u201d he said, adding that this charge will be led, in part, by Oxford PV.\u00a0<\/span><\/p>\n Established in 2010, the company has spent over a decade refining its perovskite-based solar technology from its R&D site in Oxford. It also has a pilot facility near Berlin, Germany \u2014 the first step toward commercialisation on an industrial scale.\u00a0<\/span><\/p>\n Fuelled by a sizeable <\/span>\u20ac<\/span>116mn<\/span> in VC and government funding, <\/span>Oxford PV says that 2024 is set to be \u201cpivotal,\u201d for the company. This year it plans to ramp up production at its factory in Germany to produce its hybrid solar cells in high volumes.<\/span><\/p>\n Oxford PV said <\/span>last year<\/span><\/a> that Britain was the \u201cleast attractive\u201d location to build its first plant because of a lack of government incentives, a sentiment echoed<\/span> by other energy transition sectors such as car and battery makers.<\/span><\/p>\n Capacity at its German facility will be in the region of 100MW. That could bring the company revenues of <\/span>\u20ac<\/span>28mn annually.<\/span><\/p>\n Oxford PV represents a rare example of a European startup that could actually <\/span>compete with China<\/span> in the global solar market. While, admittedly, it might not be able to beat China on cost, the superior performance of its perovskite tandem solar cells could prove decisive in the race to build cleaner, faster, and better climate change-beating technologies. <\/span>\n <\/div>\n If you liked the article, do not forget to share it with your friends. Follow us on\u00a0Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n If you want to read more like this article, you can visit our Technology category.<\/a><\/span><\/strong>\n<\/p><\/blockquote>\n\n
![](\"https:\/\/img-cdn.tnwcdn.com\/image?fit=796%2C417&url=https%3A%2F%2Fcdn0.tnwcdn.com%2Fwp-content%2Fblogs.dir%2F1%2Ffiles%2F2024%2F02%2FOxford-PV_full-sized-perovskite-silicon-solar-cells_oxford.jpg&signature=0122cfbad2eebe43ca5869938d2ff422\")
<\/p>\n