Authentication software company Okta Inc. plans to devote about $40 million of its annual research and development budget

Researchers have made a breakthrough with a so-called miracle material to break the efficiency record for solar panel electricity generation. A team from the Chinese solar technology firm Longi set a new world record of 33.9 per cent for a silicon-perovskite tandem solar cell, breaking the previous record set in May this year by King Abdullah University of Science & Technology (KAUST) in Saudi Arabia. The new efficiency record also broke the theoretical limit of 33.7 per cent for the first time of standard single junction cells, which are found in commercial solar panels. “This provides meaningful empirical data to demonstrate the advantage of crystalline silicon-perovskite tandem solar cells over crystalline silicon single junction solar cells in terms of efficiency,” the company noted in a statement. “The emergence of crystalline silicon-perovskite tandem technology has opened up a new track for the development of next-generation high-efficiency solar cell technology. This means that the same area, absorbing the same light, can emit more electricity.” The theoretical efficiency limit of silicon-perovskite tandem solar cells is 43 per cent, however this level is unlikely to ever be realised on a commercial scale. The first production of ultra-efficient perovskite solar panels could begin in China, with researchers from Nanjing University saying earlier this year that a design breakthrough has made mass production possible. According to the researchers, the next-generation panels will be 50 per cent cheaper and 50 per cent more efficient than traditional silicon cells, however the efficiency rates will still be a long way off the levels achieved in the lab. UK startup Oxford PV, which is a spin-out from the University of Oxford, is already in the process of commercialising the technology, with hopes of beginning full-scale production at a German facility later this year. “Current silicon solar panels have reached their physical limits. We’ve got a way to transform the efficiency of these solar cells with perovskite,” Chris Case, Oxford PV’s chief technology officer, told The Independent in August. “The biggest challenge by far is durability and reliability. We already have great efficiency – much greater than current silicon cells – so most of our research and development is spent enhancing reliability, not efficiency.” Perovskite has been hailed as a “miracle material” for its potential to revolutionise everything from high-speed telecommunications to renewable energy technologies. Its potential for solar panels is not limited to the efficiency gains compared to traditional silicon cells, but also new ways of using them. Recent breakthroughs include self-healing solar panels that can maintain their efficiency for tens to hundreds of years, as well as double-sided solar panels capable of generating electricity from the Sun’s energy on both sides. The material could also be used in applications ranging from building-integrated solar panels to space-based electricity generation. Read More How tech could turn our homes into renewable energy power stations Hundreds of years after it was discovered, one material is about to change the world Millions could abandon electrical grid with new solar panel advance Millions of Australians left without mobile and internet network after Optus outage Guidance urges parents not to buy smartphones for primary school children

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