A new solar panel technology has achieved a record efficiency of 45% in laboratory tests, a significant leap from the current commercial average of around 22%.

The innovation uses a multi-junction cell design that captures a broader spectrum of sunlight. Researchers state this could dramatically reduce the cost of solar energy and accelerate the global transition away from fossil fuels.

“This is a pivotal moment for photovoltaic technology. The potential for scalable, affordable clean energy is now within closer reach,” commented a lead scientist on the project.

Initial pilot projects are scheduled to begin in two coastal regions within the next 18 months. The technology must still undergo durability testing and commercial scaling processes.

Funding for the research was provided by an international consortium focused on climate solutions. The full technical specifications will be published in a scientific journal next month.