Researchers and startups worldwide are working to develop the next generation of solar panels that are more efficient, flexible, and cost-effective. While current photovoltaic (PV) panels perform well, improving their design and performance is seen as essential to meeting global climate goals.
Solar power is set to become the world’s largest source of renewable energy by 2029, overtaking hydropower, according to the International Energy Agency (IEA). However, to stay on track with the Net Zero Emissions (NZE) Scenario, the IEA says annual solar capacity additions must double by 2030. Achieving this target will require new solar technologies that improve efficiency and lower costs.
In response, many innovators are experimenting with advanced materials and designs. A growing number of startups in Silicon Valley are developing “tandem” solar cells that combine traditional silicon with perovskite—a material that can absorb different parts of the solar spectrum. By layering these two materials, panels can generate more electricity from the same amount of sunlight.
“While it’s true that silicon is great, tandems are better,” said Tomas Leijtens, cofounder and CTO of solar startup Swift. “In the fight to tackle climate change, we need to accelerate, not just settle.”
Perovskite tandem solar cells are drawing serious attention and funding. In April, Tandem PV raised $50 million in a Series A round to demonstrate the commercial viability of its product. “The main goal is to prove both the product and the customer demand, then scale up to billion-dollar annual sales,” said CEO Scott Wharton.
Yet despite more than a decade of research, no perovskite tandem products have reached commercial markets. Some scientists warn that if real-world applications don’t appear soon, investor interest could fade.
Beyond materials, engineers are also rethinking the shape and mechanics of solar panels. New flexible, dish-shaped panels that move with the sun, mimicking sunflowers, are being developed to capture more sunlight throughout the day. Transparent panels are also advancing—these can be integrated into windows, turning buildings into clean energy generators.
These see-through panels are approaching the performance levels of traditional panels, which average around 21% efficiency. Once they match that and become price-competitive, high-rise buildings could be transformed into major sources of urban power.
One of the latest innovations comes from Japan, where developers have introduced spherical solar panels known as “Sphelar.” These orb-like panels can collect sunlight from every angle, unlike flat panels that only work best during certain hours of the day. “The rest of the day, all that light is wasted,” said a report by Unión Rayo. “And that, considering the energy challenges we have ahead, is a luxury we can no longer afford.”
With global solar demand rising fast, these next-generation technologies could play a key role in scaling up clean energy and reducing reliance on fossil fuels.
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