A similar technology 4T silicon-perovskite tandem solar cell has been developed at India's IIT Bombay, which has the potential to increase solar efficiency to 30% and possibly even 45% in the future. Thus, India is currently competing for recognition on the international stage with its cutting-edge solar technology. A business established at IIT Bombay's National Centre for Photovoltaic Research & Education (NCPRE), ART-PV India, is spearheading the initiative. Through its think tank MITRA (Maharashtra Institution for Transformation), the Maharashtra government is actively promoting the expansion of this technology.
India’s Big Leap in Solar Innovation and Global Competition
With fewer panels, perovskite-silicon tandem solar cells produce more electricity. Because of this, solar energy is now more affordable, more effective, and simpler to install especially in locations with limited space. India has a genuine opportunity to overtake China, which has up until now dominated the production of solar panels. The Maharashtra government intends to establish a 300-MW pilot plant at Uran in order to advance this invention. To obtain funds, MITRA is already negotiating with the Asian Development Bank, the Asian Investment Bank, and the Asian Infrastructure Investment Bank. Even an approval in principle has been granted by one of these institutions. The project is expected to begin within the next 3 months and receive full funding within 6 months.
Boost in Solar Efficiency and Cost Savings
IIT Bombay professor Dinesh Kabra clarified the significance of this. "Everything is changed by this technology. In the past, 8–10 solar panels were required to provide 3 kW of power; today, you could only need 6–8 panels. This implies lower expenses, less room, and fewer imports. The use of silver paste, a crucial component of solar panels, and wiring will also be decreased. This will lower the cost of solar energy for households, companies, and even satellites.
But funding is a major barrier. China made research investments years ahead of others, which helped it grow into a solar powerhouse. Perovskite solar cells are now being developed in various nations, and the technology will be broadly accessible in two to three years. India requires rapid execution and substantial financial support if it hopes to take the lead. However, for the time being, this is a significant advancement. India has the technology, the minds, and now a strategy to take on the world's biggest companies. India's place in the solar sector might be redefined if this initiative is successful. The race has begun.
