TheTechno Optimist.

Perovskite-Silicon Tandem ModulesOxford PV—Oxford PV achieves 25.6% efficiency for perovskite-silicon tandem module using Fraunhofer's Matrix Shingle designPerovskite-Silicon Tandem ModulesOxford PV—Oxford PV closes $150M Series D funding round to scale tandem solar manufacturing

Oxford PV

Perovskite tandem solar cells, silicon solar

GB$1.2B private~105 staffest. 2010oxfordpv.com (opens oxfordpv.com)Checked 10 Oct

The brief

Analyst view
  • Oxford PV spun out of Oxford University's Snaith lab to commercialize perovskite-silicon tandem solar cells.
  • Closed $150M Series D in January 2026, reaching $1.2B valuation; first commercial shipments began in September 2024.
  • Current modules deliver 25% efficiency; targeting 26% (2027) and 27% (2028) with extended 20-year lifespan.

Technical approach

As reported
Tandem Architecture

Two-layer solar cell

Perovskite on top absorbs high-energy light and passes infrared to silicon below. More spectrum than silicon.

Efficiency Gains

Higher power per square meter

Silicon peaks at 21-22%. Tandem modules currently at 25.6% (June 2026), targeting 27% by 2028: 25-30% more power per area.

Manufacturing Scale

Pilot in Germany, licensed in China

Pilot line in Brandenburg, Germany; exclusive Trina Solar license for China market (April 2025).

Primer