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A Leader in Perovskite Solar Technology
We’re commercializing the most powerful & durable perovskite solar panel on the market
Tandem PV is driving the transition to a net-zero economy by working to commercialize the most efficient and durable perovskite solar panel on the market. The disruptive startup was founded in the Silicon Valley in 2016 with a goal to grow perovskite technology to meet demand projected to reach $1 trillion annually in the next decade. Its world-class team of solar innovators, motivated to accelerate the shift to affordable renewable energy for all, possesses deep technical, manufacturing and scale-up expertise.
Efficiency: Tandem PV’s design boosts the output of conventional solar modules by stacking them with thin-film perovskite. The company is producing tandem perovskite panels with 27% absolute efficiency and expects to reach 30% efficiency in the near future. This is roughly 40% relatively more powerful than the average silicon solar panel (currently at 21% going to 22% in the next few years).
Cost Savings: Our panels produce more power at a similar price per watt (compared to average silicon panels), reducing the levelized cost of energy due to lower balance of system, labor and land-acquisition costs. This will be especially beneficial where land, labor and rooftop space are scarce. At a larger scale, Tandem PV panels will also be less expensive than silicon panels primarily because their costs of goods will be lower and require roughly one-tenth the energy needed to manufacture silicon panels.
Durability: In the lab, Tandem PV has demonstrated the equivalent of decades of durability with commercial-size cells at 80% performance (less than 1%-per year degradation). The company is conducting outdoor testing and plans to obtain third-party validation of its panels’ efficiency and durability during 2024.
Tandem PV's Team
CEO Scott Wharton joined Tandem PV from Logitech, where he grew the company’s video collaboration business from $62 million to a global market leader with over $1 billion in annual revenue. Prior to Tandem, Wharton led three successful startups, including two that went public and one he founded that was sold to a Fortune 500 company.
The company was founded by Colin Bailie, its CEO, who published the first peer-reviewed studies on perovskite-silicon tandem solar panels as a Stanford University doctoral candidate in materials science and engineering. Tandem co-founder Chris Eberspacher, who holds a PhD in applied physics from Stanford University, is an industry pioneer who has led technology at some of the world's largest solar companies. Bailie and Eberspacher launched the company through Cyclotron Road, the U.S. Dept. of Energy startup accelerator at Lawrence Berkeley National Laboratory supporting entrepreneurial innovations with potential for global commercial impact.
“Perovskite solar panels promise the kind of powerful and cost-effective solutions we need to combat climate change. I have been impressed with Tandem PV’s team and the progress they’ve made to take their innovations out of the lab and into the market.”
– Tom Werner, former chairman, president, & CEO, SunPower Inc.
Why Tandem PV
Commercialization of perovskite solar will require panels with robust durability (decades of performance) as well as high efficiency, which sets Tandem PV's apart from the competition. With a world-class team distinguished by decades of experience in perovskite development, solar manufacturing and global scaling, it is positioned for early success. The most recent funding round will be used to accelerate research and development as well as plans to build its first manufacturing facility.
"It's possible that Tandem PV will really be one of the first companies to commercialize perovskites....It’s the combination of size, efficiency, and durability which is noteworthy, and compared to what we’ve seen from many other companies, Tandem PV is doing well...."
– ReThink Technology Research, January 2024
Investment
Tandem PV has raised a total of $33 million including venture capital from firms with deep expertise in climate tech, including Planetary Technologies and PlanetaryVC. The company has also received funding from the U.S. Department of Energy, the National Science Foundation, the California Energy Commission and other government entities.
Customers
Tandem PV will initially focus on providing perovskite products for utility-scale projects, particularly given its high-efficiency panels will lead to lower installation and land-acquisition costs.
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