Researchers at the University of New South Wales in Australia have produced a photovoltaic system that is capable of converting over 40% of sunlight into electricity. This effectively renders it the photovoltaic system with the highest solar efficiency.
The system's incredible solar efficiency was made possible due to a combination of technologies including high-efficiency photovoltaic cells from Spectrolab -- a subsidiary of Being -- and so-called 'power-tower' concentrators from RayGen Resources of Australia.
While testing the photovoltaic system, the researchers used focused sunlight. This sort of sunlight input is especially relevant to the kinds of photovoltaic power towers being developed in Australia.
The next step is to conduct pilot scale demonstrations using the photovoltaic systems and, in the long run, leverage their technology to make commercial solar plants more efficient.
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