As of 2024, the world record for solar cell efficiency is 47. 6%, set in May 2022 by Fraunhofer ISE, with a III-V four-junction concentrating photovoltaic (CPV) cell.
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The efficiency of commercially available PV panels averaged less than 10% in the mid-1980s, increased to around 15% by 2015, and is now approaching 25% for state-of-the art modules.
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All together Considering the spectrum losses alone, a solar cell has a peak theoretical efficiency of 48% (or 44% according to Shockley and Queisser – their "ultimate efficiency factor"). Thus the spectrum losses represent the vast majority of lost power.OverviewIn, the radiative efficiency limit (also known as the detailed balance limit, Shockley–Queisser limit, Shockley Queisser Efficiency Limit or SQ Limit) is the maximum theoretical using.
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The efficiency of commercially available PV panels averaged less than 10% in the mid-1980s, increased to around 15% by 2015, and is now approaching 25% for state-of-the art modules.
[PDF Version]
