Beyond Silicon: Are Perovskite Solar Cells Ready for Commercialization

Silicon-based solar cells have long been the dominant technology in the solar photovoltaics industry. However, with the growing demand for more efficient and cost-effective solar solutions, alternative technologies are starting to gain traction. Among these emerging materials, perovskite solar cells (PSCs) have generated significant optimism due to their higher efficiency and potential for low-cost production.

The Emergence of Perovskite Solar Cells

Perovskite solar cells are based on a unique material known for its excellent light-absorbing properties, efficient charge-carrying capabilities, and simple fabrication process. These materials feature a perovskite crystal structure, typically made from organic-inorganic lead or tin halide compounds. Unlike silicon solar cells, which require ultrapure materials and energy-intensive manufacturing, perovskite materials can be easily deposited using methods such as spraying and printing.

Since their discovery in 2009, the performance of perovskite solar cells (PSCs) has improved significantly, increasing from just 3% efficiency to over 25%, putting them on par with traditional silicon-based solar cells. This rapid progress has drawn substantial interest from scientists, investors, and manufacturers eager to commercialize the technology.

In 2024, the perovskite solar cells market size was valued at US$ 234.4 million and is projected to grow at a CAGR of 33% from 2025 to 2035.

Benefits of Perovskite Solar Cells

Increased Efficiency Potential: Perovskite materials have high power conversion efficiencies (PCEs) and can be engineered for maximum sunlight absorption. They may be used to absorb different areas of the solar spectrum and applied in tandem solar cells, which are coupled with silicon or other semiconductors to generate efficiencies of more than 30%.
Reduced Manufacturing Costs: Unlike conventional silicon solar cells, which require costly purification and high-temperature processing, perovskite solar cells can be produced using solution processing, significantly reducing production costs. Techniques like roll-to-roll printing and inkjet deposition enable large-scale, cost-effective manufacturing. Flexibility and Lightweight Design: Perovskite materials can be tailored to produce solar cells in a variety of colors and transparencies, making them an attractive option for architectural applications, such as windows and facades, alongside their functionality as energy generators.
Aesthetically Customizable: Perovskite materials enable solar cell production with a wide range of colors and transparencies, which makes them suitable for windows, facades, and other architectural applications.

Main Challenges to Commercialization

Even with these benefits, perovskite solar cells have some challenges that need to be addressed before commercialization.

Stability and Durability Problems: One of the significant disadvantages of perovskite solar cells is their short-term durability and stability. Perovskite cells are very prone to degradation upon exposure to water, air, and heat. Although silicon panels last for 25–30 years, perovskite cells degrade in a matter of years. Efforts are underway to enhance their long-term stability through new material developments and sophisticated encapsulation methods.
Environmental Impact of Perovskite Solar Cell Production: Most high-efficiency perovskite solar cells employ lead-based materials, which are harmful to the environment and human health. Research is ongoing to find lead-free replacements, including tin-based perovskites, but these alternatives have turned out to be less efficient and less stable than their lead-based counterparts.
Scalability and Manufacturing Consistency: Though laboratory-scale perovskite cells have shown remarkable performance, scaling up the technology without reducing efficiency and stability is a big challenge. Homogeneous deposition techniques and rigorous quality control are necessary for large-scale production to guarantee uniform performance from panels.
Market Readiness and Infrastructure: The global solar industry is largely built around silicon-based technologies, with well-established supply chains, manufacturing infrastructures, and installation expertise. Perovskite technology demands new infrastructure, testing standards, and certification processes, which will require significant investment and time to implement.

Perovskite solar panels: Market Potential and Adoption Trends

Meanwhile, despite these challenges, breakthroughs are underway for PSCs’ commercial viability. Various firms and research facilities are pushing the limits of perovskite technology by creating hybrid silicon-perovskite tandem cells, enhancing encapsulation methods, and calibrating materials for stability and efficiency.

One of the top developers in perovskite-silicon tandem technology, Oxford PV, has reached over 30% efficiency and is preparing for commercial-scale manufacturing.
Saule Technologies has established flexible perovskite solar films that find application in wearables and smart cities.
Microquanta Semiconductor has concentrated on mass production of perovskite solar modules for field testing and market introduction.

In addition, government organizations and industry associations are busy developing reliability standards and safety certification for perovskite solar technology, opening the door to greater market penetration.

The Future of Perovskite Solar Cells

Considering the rapid advancements in perovskite research and development, the commercialization of perovskite solar cells (PSCs) is no longer a matter of if, but when. The near-term uses for PSCs is possible with the breakthroughs in tandem perovskite-silicon solar cells which are likely to appear on the market within a few years, giving an instant efficiency upgrade to the current PV technology.
Building-Integrated Photovoltaics (BIPV): Windows, architectural, and facades are the potential applications of perovskite solar cells due to their visual attractiveness and flexibility.
Wearable Electronics and Portable Devices: Flexible and thin perovskite solar cells are suitable in sensors, IoT devices, and other off-grid devices.