Art-PV secures MNRE grant for tandem solar cell manufacturing plant

Art-PV, incubated at IIT Bombay, has received a USD 10 million grant from the Ministry of New and Renewable Energy (MNRE) to establish a manufacturing plant for high-efficiency tandem solar cells.

The company’s innovative tandem cell achieves 29.8 per cent sunlight-to-electricity conversion, surpassing the 23 per cent efficiency of conventional solar cells. This technology combines silicon with cadmium telluride (CdTe) and a perovskite-structured material to absorb a broader light spectrum, enhancing efficiency. Art-PV addresses the inherent instability of perovskite by layering it onto a silicon base.

Industry partners First Solar and Waaree will help commercialize the technology with preferential licensing rights. Art-PV’s tandem cell is nearing a TRL of six or seven, with plans for a two MW pilot plant at IIT Bombay.