DAILY INNOVATION BRIEF by Maryanne Kane, Journalist
D A ILY INNOVATION BRIEF By Journalists Edward Kane & Marya nne Kane BIG SOLAR POWER BREAKTHROUGH Source: Oxford PV, Oxford An Oxford University spinoff company has created the world's most efficient solar panel. Here's what we know: British scientists just set the world record for solar panel efficiency at 25% Average commercial solar panel conversion rate is 16% Spinoff company is called Oxford PV They collaborated on this breakthrough with Germany's Fraunhofer Institute for Solar Energy Systems They achieved 25% conversion efficiency, which is the percentage of solar energy hitting a solar panel converted into electricity Oxford PV believes they can reach 43% That would leave the theoretical limit of 30% in the dust Why is this important? It means cheaper, more efficient solar power and much more electricity from the same amount of solar panels resulting in faster and wider use of solar energy How did they achieve this brea