The global solar industry has achieved new efficiency milestones, with the latest updates to the National Renewable Energy Laboratory's (NREL) Best Research-Cell Efficiency Chart showing significant advances for the photovoltaic sector. For India's expanding solar manufacturing ecosystem, these developments present opportunities and strategic considerations.
The NREL chart shows Chinese manufacturer LONGi achieved 34.85% efficiency for a perovskite-silicon tandem solar cell under standard test conditions, certified on 06.05.2024. This represents the highest efficiency for this cell category, exceeding the theoretical Shockley-Queisser limit of 33.7% for single-junction cells.
The highest research cell efficiency recorded is 47.6% for a four-junction concentrator cell developed in May 2022 by Germany's Fraunhofer Institute. However, concentrator systems operate under focused sunlight conditions and are not directly comparable to standard flat-plate technologies. For conventional applications, the chart comprises efficiencies like the 23.08% achieved by First Solar for CIGS technology under standard test conditions.
Due to increased interest in tandem PV (cells composed of two separate absorbing layers to capture more of the solar spectrum), the NREL team added a new "Hybrid Tandems" category to the chart. This category represents a shift in solar technology, with crystalline silicon-perovskite tandem solar cells having a theoretical efficiency limit of 43%, surpassing the Shockley-Queisser (SQ) limit for single-junction solar cells.
India has expanded its manufacturing capacity significantly in response to this global efficiency race. Solar cell manufacturing capacity increased from 9GW to 25GW between March 2024 and March 2025, according to the Ministry of New and Renewable Energy (MNRE). More substantially, India achieved 100 GW of solar PV module manufacturing capacity under the Approved List of Models and Manufacturers (ALMM) as of August 2025, representing growth from 2.3 GW in 2014, and ~7 GW in March 2020.
The ALMM capacity expanded from 8.2 GW when first published in March 2021 to about 100 GW in four years, a twelvefold increase. The number of manufacturers increased from 21 in 2021 to 100 manufacturers operating 123 manufacturing units. India is projected to reach 160 GW of solar module capacity and 120 GW of cell capacity by 2030.
While Passivated Emitter and Rear Contact (PERC) cells remain dominant due to their mature, cost-effective, and efficient design, innovations like n-type based TOPCon, Silicon Heterojunction (SHJ), and Back Contact cells are gaining momentum in the recent past due to their higher efficiency and better performance at lower costs. For India, this technological evolution presents huge opportunities, but not without challenges.
The efficiency gains demonstrated in the latest NREL chart represent laboratory achievements under standard test conditions. Commercial deployment of these technologies faces additional challenges including manufacturing scalability, long-term stability, and cost considerations. Perovskite-silicon tandem solar cells exceeding 30% efficiency are under development, though module durability currently limits commercial implementation.
India's manufacturing scale-up coincides with this global efficiency revolution. The growth from 2.3 GW in 2014 to about 100 GW in 2025 under ALMM demonstrates the success of policy initiatives including the Production Linked Incentive (PLI) Scheme for High-Efficiency Solar Modules. Lately, the PLI scheme also includes support for the full value chain, including Cells (Ingot & wafers as well), aiming to build an integrated solar manufacturing ecosystem in India.
The efficiency race requires more than manufacturing capacity. Success demands R&D investment, in next-generation Cell technologies, particularly tandem cell architectures that can achieve efficiencies approaching 40% with proven stability. India must balance immediate manufacturing scale-up with long-term Cell technology leadership, invest in talents/resources and must develop adequate supply chain.
India's manufacturing momentum positions it as a participant in the next phase of photovoltaic technology development.