90 percent of the market of photovoltaic technologies is made of silicon-based solar cells. Silicon based solar cells are cost efficient, offers high efficiency, and stable. There has been decades of R&D in this field and today silicon-based solar cells are at it’s highest possible efficiency. As a result, long term reduction in dollar electricity prices can be achieved through new concepts, which are anticipated to enable photovoltaic technology to be extensively adopted for generating power.

One of the solutions for maximizing the conversion of light rays to electrical power is to place two different types of solar cells on top of each other. These double junction cells are researched extensively in the scientific arena, even though they are costy to make. However, new research teams have developed a competitive solution which is economical by integrating a perovskite cell on top of standard silicon based cell. This gives an Efficiency of 25.2% and this production method is also very promising since it will require the addition of just a few extra steps to the existing silicon cell production. Their unique properties have led to many researches into the use of solar cells in the past few years. The efficiency of these cells have led to considerable reduction in production cost.