Solar surge heralds a bright future

Around 560 GWdc of solar PV installations were projected for 2024, up about a third from 2023¹ and the five leading solar markets either kept pace or increased PV installation capacity in the first half of 2024, with China installing more than 100 GWdc and India installing more solar in the first half of 2024 than it did for the whole of 2023.

This surge of growth, coupled with increasing demand, continues to drive innovation, and we're seeing many exciting technological advancements come to fruition that are worth exploring in more detail.

Perovskite solar cells, which are known for their potential to achieve high efficiencies and be manufactured at a lower cost than traditional silicon cells, are reaching commercial readiness. Some companies are now integrating perovskite layers with silicon in tandem solar cells, boosting efficiencies beyond 30%, which is higher than typical silicon cells.

Perovskites are lighter and more flexible, allowing for innovative uses, such as in portable solar products, building materials and vehicles.