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For solar cells at 25%, good electron-hole transport is already a given. Further improvements of efficiency above 25% are all about the photon management! Our mantra is:
“A good solar cell has to be a good LED; A great solar cell has to be a great LED!
It has been found that thin-film cells are more efficient than the best wafer cells. Even more counter-intuitively, solar cells perform best when some of the solar photons are returned as external fluorescence. That is, the external luminescence yield ext, should be maximized. Good external fluorescence produces record output voltage.
Eli Yablonovitch
"High performance solar cells: It's all about the optics
(Conference Presentation)", Proc. SPIE 9955, Nonimaging Optics: Efficient Design for Illumination and Solar Concentration XIII—Commemorating the 50th Anniversary of Nonimaging Optics, 995506 (2 November 2016); https://doi.org/10.1117/12.2238763
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Eli Yablonovitch, "High performance solar cells: It's all about the optics
(Conference Presentation)," Proc. SPIE 9955, Nonimaging Optics: Efficient Design for Illumination and Solar Concentration XIII—Commemorating the 50th Anniversary of Nonimaging Optics, 995506 (2 November 2016); https://doi.org/10.1117/12.2238763