Art-PV India Pvt Ltd, an IIT Bombay-incubated start-up, has been awarded a $10 million grant by the Ministry of New and Renewable Energy (MNRE).
The significant funding will enable the company to set up a manufacturing plant for high-efficiency tandem solar cells.
Revolutionary Tandem Solar Cell Technology
Art-PV has pioneered a cutting-edge tandem solar cell that boasts an impressive 29.8% efficiency in converting sunlight into electricity.
In contrast, traditional solar photovoltaic (PV) cells generally convert only about 23% of sunlight.
The tandem cell, technically called a ‘2-Terminal Monolithic Silicon/CdTe-Perovskite’ cell, absorbs a broader range of light wavelengths, significantly improving energy conversion efficiency.
The cell is constructed with a silicon base, topped with layers of cadmium telluride (CdTe) and a perovskite-structured material.
Perovskite is a specific atomic and molecular structure known for its instability, which researchers are working to stabilize. Art-PV addresses this challenge by integrating the perovskite material with a commercially available silicon cell.
Partnerships with Industry Leaders
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.
Technology Readiness and Future Plans
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.
Incubation and Support from SINE
The Society for Innovation and Entrepreneurship (SINE) incubated Art-PV, a platform that supports start-ups and fosters innovation.
As reported by thehindubusinessline.com, the financial backing and resources provided by the MNRE grant, combined with strategic industry partnerships, position Art-PV India to make significant strides in the solar energy sector.
