Last week, The Economist highlighted Perovskites as one of the "Metrics to keep an eye on in 2024". It is a technology that we at Peak have built a deep understanding on over the past year, especially with regards to its potential as the next stage of solar technology as well as the development and commercialisation challenges it is currently facing. Despite making the Economist's list, most individuals are unfamiliar with what perovskites are. So what makes them so special?
1. Theoretical efficiency at a low cost: Perovskite solar cells have garnered immense attention for their theoretical efficiency, similar to those as traditional silicon cells, but with the potential for much lower costs ($0.10 per watt vs $0.30 per watt) and simpler production methods.
2. Versatility: Unlike many materials with fixed properties, perovskites are like chameleons – their properties can be tailored by tweaking their chemical composition. This allows scientists to design perovskites for specific applications, whether it's emitting different colors of light, conducting electricity, or acting as superconductors. But, it's not all smooth sailing; challenges in production methods still need addressing.
3. Environmental Impact: Perovskites often utilize abundant and non-toxic elements, unlike some rare earth elements found in other technologies. This makes them a more environmentally friendly choice, aligning with the growing focus on sustainable development. However, the environmental impact of scaling up production is an aspect that warrants consideration.
Do you agree with their potential for the coming year? If you are a founder building in this space, do reach out to us at team@peakventures.in
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Senior Managing Director at Boustead Securities
2wWell done!