Economy

Art-PV to set up a $10 million solar cell plant in IIT-B with funds from MNRE & others 

IIT-Bombay-incubated ART-PV India, which has patents for high efficiency solar cells, is putting up a fabrication facility for manufacturing commercial tandem solar cells in IIT-Bombay, with an investment of $10 million. The funds for the project are coming from various sources, including the Ministry of New and Renewable Energy, via IIT-Bombay.

Art-PV has developed a tandem cell capable of converting 29.8 per cent of sunlight into electricity, compared to approximately 23 per cent for conventional solar PV cells. Technically known as a ‘2-Terminal Monolithic Silicon/CdTe-Perovskite’ cell, it absorbs a broader range of light wavelengths, thereby improving energy conversion efficiency. The cell consists of a silicon base on which cadmium telluride (CdTe) and a perovskite-structured material are grown. 

It is important to note that ‘perovskite’ refers to a specific atomic and molecular structure. This structure is inherently unstable, and researchers are actively working to enhance its stability. One approach to addressing this challenge is layering the perovskite material onto a commercially available silicon cell, which is the method Art-PV has employed. 

Industry partners

Art-PV counts solar cell manufacturers First Solar and Waaree among its industry partners. Both companies are expected to assist in further developing and commercialising the technology, in exchange for preferential licensing rights. 

First Solar is a thin-film solar PV manufacturer with a plant near Chennai, while Waaree specializes in crystalline silicon-based PV cells. According to a source, perovskite material can be integrated with both thin-film and crystalline PV technologies. In terms of Technology Readiness Level (TRL), the source estimated that Art-PV’s new cell is at TRL 6 (prototype demonstration) or TRL 7 (demonstration in an operational environment). 

A 2 MW pilot plant is expected to be established at IIT Bombay. 

Art-PV was incubated at the Society for Innovation and Entrepreneurship (SINE), an organization dedicated to fostering start-ups. 



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