Graphene Boosts Perovskite Solar Cell Efficiency to 30.6%, Cuts Costs by 80%
First Graphene Limited’s partnership with Halocell Energy and QUT has yielded a breakthrough in perovskite solar cells, doubling efficiency to 30.6% while cutting production costs by up to 80%. This innovation paves the way for scalable, low-cost solar solutions across multiple industries.
- Graphene-enhanced perovskite solar cells achieve 30.6% efficiency
- Production costs reduced by up to 80% via roll-to-roll manufacturing
- Commercial sales underway since late 2024 targeting indoor and low-light devices
- Potential applications span over 40 device categories including IoT and aerospace
- Plans to expand Wagga Wagga plant to produce up to 60 million units annually
A Leap in Solar Technology
First Graphene Limited (ASX – FGR) has announced a significant advancement in solar technology through its collaboration with Halocell Energy and the Queensland University of Technology. By integrating First Graphene’s functionalised graphene into perovskite solar cells (PSC), the partners have nearly doubled the cells’ efficiency to an impressive 30.6%. Even more striking is the reduction in production costs by up to 80%, achieved through a cost-effective roll-to-roll (R2R) manufacturing process that replaces expensive materials like gold and silver.
Commercial Momentum and Market Potential
Since late 2024, Halocell has been commercially selling these ultra low-cost PSCs, primarily targeting indoor and low-light applications such as small electronic devices. The technology’s versatility is underscored by the identification of more than 40 device categories that could benefit, ranging from everyday items like TV remotes and toys to high-end applications including satellite solar modules and drones. This breadth of potential markets highlights the disruptive nature of graphene-enhanced PSCs in both consumer electronics and advanced aerospace sectors.
Scaling Up Production
Halocell is actively planning to expand its manufacturing capacity at its Wagga Wagga facility by modularly increasing R2R production lines. The goal is to eventually produce up to 60 million PSC units annually, a scale that could position the company as a global competitor in the solar cell market. This expansion is supported by a AU$2.03 million federal government grant under the Cooperative Research Centres Projects, reflecting strong institutional backing for this innovative technology.
Strategic Partnerships Driving Innovation
First Graphene’s Managing Director Michael Bell emphasised the strategic value of the partnership, noting that the collaboration not only advances product performance but also aligns with broader decarbonisation goals. Halocell CEO Paul Moonie highlighted the importance of combining strong material science with cost-effective manufacturing, ensuring the technology’s commercial viability and securing a reliable supply of bespoke graphene materials.
Implications for the Future
The rapid efficiency gains and cost reductions achieved in just a few years contrast sharply with the decades-long development cycles of traditional silicon solar cells. This positions graphene-enhanced PSCs as a potentially transformative technology in renewable energy, with the capacity to replace millions of batteries in small devices and expand into emerging markets. The coming months will be critical as Halocell seeks capital to fund its production scale-up and as market adoption unfolds.
Bottom Line?
With efficiency doubled and costs slashed, First Graphene’s PSC innovation is set to reshape solar energy markets, next steps will reveal how quickly it can scale.
Questions in the middle?
- How rapidly can Halocell secure capital and expand production to meet demand?
- What competitive responses will emerge from silicon solar cell manufacturers?
- How will market adoption unfold across the diverse device categories identified?
