Perovskite Solar Cells: What You Need to Know About This Disruptive Tech

Imagine a future where solar panels on every rooftop are twice as efficient, smaller, and more affordable. Could this become a reality sooner than we think? Perovskite solar cells, the cutting-edge technology capturing the attention of researchers and investors worldwide, are showing unprecedented efficiency gains that may soon revolutionize the solar industry.

The global perovskite solar cells market is set to make $15,499.6 million by 2031, according to Kings Research. With companies like Qcells investing millions and world records being shattered by innovations in perovskite-silicon tandem cells, the question arises: are perovskite solar cells the future of renewable energy?

This blog delves into the fascinating advancements and potential of this game-changing technology.

What are Perovskite Solar Cells?

Thin-film solar cells known as perovskite solar cells are manufactured from a class of synthetic materials known as perovskites. Different from the silicon wafers used in traditional solar panels, perovskites have a special crystallographic structure that makes them extremely efficient at turning solar photons into useful electricity. In the future, perovskite solar panels may replace traditional silicon solar panels as a low-cost, high-efficiency solar technology.

How Do Perovskite Solar Cells Work?

Perovskite solar cells use the photovoltaic effect to turn sunlight into electrical power. As the light-absorbing layer, they employ a thin layer of perovskite material, usually a compound based on tin halide or a hybrid organic-inorganic lead. The perovskite layer produces electron-hole pairs in response to sunlight, which results in an electric current. Electrical energy is then produced as the charge carriers travel to the electrodes. Because of their low cost and ease of manufacture, PSCs have shown promise. The efficiency of these solar cells has increased dramatically in recent years, from reports of roughly 3% in 2009 to over 25% now.

Advantages of Perovskite Solar Cells

Perovskite solar cells feature a number of intriguing properties that make them potentially very helpful in the application of many solar technologies.

They can exhibit flexibility, be lightweight, and have a semi-transparent appearance

Since perovskites are semiconductors with a straight band gap, they absorb visible light very well. This implies that a very thin perovskite layer—typically less than 1µm thick—can be used to create high-efficiency devices.

When silicon solar cells are excessively heavy, thick, or rigid, perovskite solar cells may be able to fill the gap. For instance, semi-transparent PSC devices have been used to shade windows while generating small amounts of electricity, flexible PSC devices have been created on plastic substrates, and ultra-thin PSC modules have even been used to power a very small plane.

Manufacturing them is both cost-effective and simple

Complete solution processing is possible for perovskite solar cells. This implies that they can be produced using techniques that are frequently employed in large-scale production, such as ink jet printing and slot die coating. This may suggest that they are easily adaptable to manufacture in large numbers.

Furthermore, perovskites are very versatile materials since they can be made and deposited using several methods like vacuum deposition and atomic layer deposition.

Due to their significantly lower initial cost, perovskites would be economically feasible as a silicon substitute in big, utility-scale solar farms once they attain a useable lifetime of at least ten years, according to a study.

Why Researchers Are Betting Big on Perovskite Solar Cells

Perovskite solar panels’ novel method of capturing solar energy has drawn interest from academics, business leaders, and environmentalists in recent years, and it has the potential to completely transform the renewable energy sector. Perovskite solar panels have attracted a lot of interest because of their impressive efficiency gains.

These solar panels have shown remarkable efficiency improvements in the UK, surpassing levels that were once considered unachievable for traditional photovoltaic systems, according to an article published by The Independent. As to their findings, Qcells, a South Korean PV company, is reportedly investing $100 million in perovskite solar cells because it believes the technology might produce unprecedented efficiencies of 50–75% when compared to conventional solar panels.

Additionally, in May 2023, Oxford PV reached efficiencies of over 28%, setting a new world record for a commercial-sized tandem solar cell. In order to convert more solar energy, tandem solar cells stack or arrange several solar cells in one. This important milestone brings perovskite solar panels one step closer to becoming commercially viable.

Moreover, researchers at Northwestern University have developed inverted perovskite solar cells with an increased efficiency of more than 25%. These solar cells’ overall performance has been improved by the inversion design, which further pushes the limits of efficiency. Scientists and engineers are dedicated to maximizing the potential of perovskite technology, as evidenced by their ongoing quest for efficiency improvements.

In addition, the combination of silicon and perovskite tandem solar cells has expanded the potential for efficiency. This tandem technique has also shown a feasible efficiency potential of 39.5%, according to PV Magazine. Researchers from the German-based Fraunhofer Institute for Solar Energy Systems (Fraunhofer ISE) made this exciting discovery, which is extremely significant since it points the way toward unprecedented levels of solar energy generation efficiency.

Under the Inflation Reduction Act (IRA), the US Department of Energy announced in May 2023 that the National Renewable Energy Laboratory (NREL) will receive $150 million. New energy technology research, development, and demonstration (RD&D) as well as grid integration were expedited by this funding.

The Rise of Perovskite Solar Cells

Unquestionably, perovskite solar panels are influencing solar energy’s future. Perovskite solar cells are a promising way to boost efficiency, reduce costs, and provide a variety of practical and innovative applications. Even if there are still obstacles to overcome, perovskite technology holds a bright future in shaping the solar energy sector and advancing sustainable renewable energy.