IIT Bombay Unveils High-Efficiency Solar Tech Aiming to Halve Electricity Costs

 

In a groundbreaking advancement for clean energy, researchers at the Indian Institute of Technology (IIT) Bombay have unveiled a next-generation solar technology that promises to significantly cut electricity costs. The innovation centers around tandem solar cells that have achieved a power conversion efficiency (PCE) of approximately 30%—a substantial leap from the current industry average of 20%.

Developed in collaboration with ART-PV India Pvt Ltd and backed by the Maharashtra government, the project has the potential to bring down solar electricity costs to as low as ₹1 per kilowatt-hour (kWh). If realized, this would position India as a global leader in affordable renewable energy, furthering the country's clean energy goals and reducing dependence on fossil fuels.

Unlike traditional silicon-based panels, this innovation leverages a wafer-thin tandem design that layers multiple photovoltaic materials to absorb more of the solar spectrum, drastically improving performance. The team plans to bring this commercially viable solution to market by 2027, marking a pivotal shift in India's energy technology landscape.

Praveen Pardeshi, Chief Economic Advisor to Maharashtra CM Devendra Fadnavis, highlighted the commercial potential of the new solar technology. He stated that state-run Mahagenco has been tasked with exploring its commercial deployment and noted that the innovation could significantly reduce India’s reliance on raw materials imported from China.

Notably, this initiative also focuses on reducing India's reliance on Chinese raw materials, a move aimed at boosting domestic solar manufacturing capabilities. State-run utility Mahagenco is reportedly evaluating options for large-scale deployment of the new solar cells. With the potential to revolutionize India's solar sector, this high-efficiency tech aligns with national priorities like energy security, Make in India, and Atmanirbhar Bharat.