Art-PV India receives $10 Million grant for silicon/CdTe-perovskite tandem solar cells

Art-PV India, an IIT Bombay-incubated start-up, has been awarded a $10 million grant by the Ministry of New and Renewable Energy (MNRE). The funding will enable the company to set up a manufacturing plant for high-efficiency tandem solar cells.

Art-PV has developed a 2-Terminal Monolithic Silicon/CdTe-Perovskite tandem solar cell that boasts an impressive 29.8% efficiency in converting sunlight into electricity. The cell is constructed with a silicon base, topped with layers of cadmium telluride (CdTe) and a perovskite-structured material.

Art-PV’s progress is supported by key industry partners, including solar manufacturers First Solar and Waaree. Both companies will assist in advancing the technology and bringing it to market, in exchange for preferential licensing rights.

First Solar operates a thin-film solar PV plant near Chennai, while Waaree specializes in crystalline silicon-based PV cells. Interestingly, perovskite material can be seamlessly integrated with both thin-film and crystalline PV technologies, making the Art-PV cell versatile in various solar applications.

Currently, Art-PV’s tandem solar cell is at Technology Readiness Level (TRL) 6 or 7, indicating that it is either in the prototype demonstration phase or already being tested in an operational environment.

The company plans to establish a two MW pilot plant at IIT Bombay to further develop and test the technology.