"Miracle" Solar Panels Launching in China

• Revolutionizing solar power: Chinese startup to begin production of ultra-efficient solar panels made from perovskite – 50% greater efficiency at half the cost – capable of retaining over 90% after 600 hours of operation. Ideal for building-integrated and space-based applications.

A Chinese startup is set to begin production of ultra-efficient solar panels, made from the so-called "miracle material" perovskite. These next-generation solar cells will be manufactured at half the cost of traditional silicon cells, with 50 per cent greater efficiency. They are easy to produce and raw materials are cheap and abundant. The factory is expected to achieve a capacity of 150 megawatts by September and the cells are capable of retaining over 90 per cent of their initial performance after 600 hours of operation. These cells could also be used in applications ranging from building-integrated panels to space-based electricity generation and have the potential to become the candidate of choice for high-efficiency tandem solar cells. The new design has been published in a scientific journal and another South Korean firm has announced a $100 million investment to commercialise tandem perovskite solar cells.

Will China's 'Miracle' Solar Panels Work?

• Perovskite solar cells are 50% cheaper and 50% more efficient than traditional silicon cells
• The cost of production for perovskite solar cells is one-twentieth of the traditional solar cells
• Renshine Solar, a startup founded by a researcher from Nanjing University, has signed a government deal to build a production line in Jiangsu province
• The factory is expected to have a capacity of 150 megawatts by September and the solar cells will be used on roofs, walls, and electric cars
• Perovskite solar cells have the potential to become the “candidate of choice” for high-efficiency tandem solar cells
• A South Korean firm is aiming to commercialise tandem perovskite solar cells with a $100 million investment to fund a pilot production line next year