Microsoft founder Bill Gates is backing a company that makes solar cells that can produce more energy than traditional solar cells. Gates Breakthrough Energy Ventures has money in Massachusetts-based CubicPV, which makes photovoltaic cells from perovskite, a compound that produces at least 20 percent more energy than current silicon technology.
Perovskite has not yet proven its durability. But if so, the technology could increase market share for solar power, which will account for 54% of all electricity added to the grid in 2023, according to the U.S. Energy Information Administration.
“The price of solar power never rises and there are no eclipses,” says Chris Case, technical director at Oxford PV in the UK. "It's the perfect source of energy."
In the virtual conversation, Case explained that Oxford University created Oxford PV in 2010. Norwegian oil giant Equinor is backing a company building a solar panel plant in Germany. Oxford PV combines silicon and perovskite cells to improve efficiency. In other words, nanocells capture “photons” and convert them into electricity. For every unit of energy received, more energy is released.
Take 1 square meter at noon: the sun produces 1000 watts of energy. An hour of standby gives 1000 watt-hours of power. If the efficiency index is 25%, we get 250 W per square meter. However, using perovskite we can get up to 40% or 350W.
“I get at least 20 percent more energy from the panels in the same space,” Case says. “The only thing more important is our need for electricity, which allows us to produce more energy where we lack space.” Indeed, for the United States to cut carbon emissions by 80% by 2050, it will need to double its electrification rate over the next 15 years. The focus will be on energy efficiency, carbon-free electricity, transport, buildings and industrial electrification.
The technology combines silicon and perovskite cells, called “tandem,” making it more expensive than traditional solar modules. However, utilities benefit because they can produce more energy.
Solar energy producers are looking to the future. For example, First Solar in Arizona.
“With this acquisition, coupled with our new U.S. innovation center and our long-term commitment to research and development, we are investing not only in the future of First Solar, but in the future of solar energy,” said Mark Vidmar, CEO. at first. solar energy. “We hope that high-efficiency tandem photovoltaic modules will shape the future, accelerating decarbonization by allowing us to more efficiently convert sunlight into clean electricity.”
On the other hand, Chinese solar panel manufacturer GCL System Integration has launched a powerful 320W perovskite solar module. Chinese microquantities provided similar evidence.
Of course, perovskite solar cells are sensitive to weather conditions, which can degrade their performance. "Manufacturers have not yet delivered on their promises to produce commercial perovskite products. One problem with perovskites is that they degrade when exposed to oxygen, moisture and light," according to a paper published in IEEE Spectrum.
Perovskites have great promise, Martin Green, a solar cell researcher at the University of New South Wales in Australia, told CNBC. However, the question remains whether these products are commercially viable. “Although progress has been made since the first perovskite cells were introduced, the only published field data on these tandem cells demonstrating competitive performance suggests that they will only survive a few months in the open air, even if carefully encapsulated.”
The broader solar market continues to have high hopes for the technology. According to Precedence Research, the perovskite market will be worth $94 million in 2022. But its value could reach $2.5 billion in 2032, with a compound annual growth rate of 32%.
Using Oxford PV as an example, I learned that the company has demonstration projects that provide solar panel lifespans of 25 to 30 years. Plus, he adds, there are 20,000 people working on the technology, and national governments are also trying to improve solar power. This includes the United States, where $800 million was allocated for the Inflation Reduction Act.
Asia now produces and exports the most solar modules. However, most modules are made of glass and steel frames, with solar cells making up a small number. “We use boats to transport glass long distances,” Case explains. “We need to at least build units close to where the electricity will be used,” he added. “If the United States fails to urgently expand solar generation, it will jeopardize energy security.”
Perovskites may be more efficient than silicon solar cells, but the question remains whether they are equally durable. If companies can achieve this, the solar industry will enter a new stratosphere.
