Key Takeaways & Executive Findings
- •• Current manufacturing cost of perovskite solar modules is calculated as 0.57 $ W−1, much higher than that of silicon solar cells. • Cost effectivity analysis indicates that materials cost shares 70% of costs, while capital and other costs share nearly 15% each. • Perovskite solar modules have the potential to outperform crystalline silicon under conditions of 25% efficiency, 25-year lifetime, and cost reduction of materials and equipment. • To achieve this target, it is essential to refine fabrication processes, develop stable inorganic transport materials, and precisely control material formation at micro/nanoscale.
Abstract
The commercialization of perovskite solar cells (PSCs) has garnered worldwide attention and many efforts were devoted on the improvement of efficiency and stability. Here, we estimated the cost effectivities of PSCs based on the current industrial condition. Through the analysis of current process, the manufacturing cost and the levelized cost of electricity (LCOE) of PSCs is estimated as 0.57 $ W−1 and 18–22 US cents (kWh)−1, respectively, and we demonstrate the materials cost shares 70% of the total cost. Sensitivity analysis indicates that the improvement of efficiency, yield and decrease in materials cost significantly reduce the cost of the modules. Analysis of the module cost and LCOE indicates that the PSCs have the potential to outperform the silicon solar cells in the condition of over 25% efficiency and 25-year lifetime in future. To achieve this target, it is essential to further refine the fabrication processes of each layer in the module, develop stable inorganic transport materials, and precisely control material formation and processing at the microscale and nanoscale to enhance charge transport.
1. Introduction
The growing demand for clean energy has driven a rapid expansion of the photovoltaic (PV) market, with the global solar PV capacity reaching over 400 GW in 2023, an increase in capacity over 80% compared to that in 2022 [1]. Crystalline silicon solar cells are currently the dominant player in the PV market, because of the excellent cost performance. With the growing demand for renewable energy by the development of human society, there is an expectation for the emergence of a new PV technology that is highly efficient and cost-effective. Perovskite solar cells (PSCs), as the next generation PV technology, have been receiving widespread attention since its appearance because of high efficiency and potentially low manufacturing cost [2].
In general, structures of the PSCs are classified based on whether the electron transport layer or the hole transport layer is located on the front electrode. Since the PSCs arisen from dye-sensitized solar cells [3], research of PSCs was initially focused on the regular structure [4, 5], with efficiency increased rapidly during the first decade [6, 7]. Inverted PSCs were first reported with a PCE of 3.8% in 2013 [8], and the first certified efficiency of 15% for the inverted PSCs with an aperture area > 1 cm2 was achieved in 2015 [9], through the development of heavy-doped NiOx-based hole transport layer, which greatly increased the influence of inverted PSCs. With the development of novel hole transport materials, interfacial regulation and surface modification [10–12], the efficiency gap between inverted and regular PSCs was considerably reduced, which further attracted greater attention in the solar cell community [13]. Furthermore, due to the wide application of self-assembled monolayers, the efficiency of inverted PSCs has significantly improved [14–18]. The champion efficiency of 27.0% by inverted PSCs was reported in 2025 [19]. Hence, the inverted PSCs have become leading research focus in both academy and industry. The progress was also made in the enlarging perovskite solar modules (PSMs). The first certified efficiency of PSM was achieved in 2016 with the efficiency of 12.1% [20], and the champion efficiency of mini-module is currently reported to 22.6% [21]. On the other hand, perovskite solar companies have been focusing their efforts to improve the efficiency and lifetime of large-area PSMs, and the PSMs with inverted structure also became the major type in the industry, especially in China. Currently, the module with a s
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Yingming Liu, Ziyang Zhang, Tianhao Wu, Wenxiang Xiang, Zhenzhen Qin, Xiangqian Shen, Yong Peng, Wenzhong Shen, Yongfang Li, Liyuan Han (2025). Cost Effectivities Analysis of Perovskite Solar Cells: Will it Outperform Crystalline Silicon Ones?. Nano-Micro Letters. https://doi.org/10.1007/s40820-025-01744-x
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Frequently Asked Questions
What is the current manufacturing cost of perovskite solar modules?
The current manufacturing cost of perovskite solar modules is calculated as 0.57 $ W−1, which is higher than that of crystalline silicon solar cells.
What are the main cost components in perovskite solar module production?
Materials cost shares 70% of the total cost, while capital cost and other costs each share nearly 15%.
Under what conditions can perovskite solar cells outperform crystalline silicon?
Perovskite solar cells have the potential to outperform crystalline silicon when achieving over 25% efficiency, a 25-year lifetime, and significant cost reductions in materials and equipment.
What is the levelized cost of electricity (LCOE) for perovskite solar cells?
The LCOE for perovskite solar cells is estimated to be 18–22 US cents per kWh.
What are the key strategies to reduce the cost of perovskite solar modules?
Key strategies include improving efficiency and yield, reducing materials cost, refining fabrication processes, developing stable inorganic transport materials, and precise control of material formation at micro/nanoscale.
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