A super efficient triple-junction solar cell is being developed in the States that could soon provide cheap electricity to millions of consumers. The new cell has shattered previous records for producing electricity from the sun, nearly doubling that of standard silicon solar cells.

It is estimated that the system, once complete, could produce electricity in the region of 8 to 10 cents per kilowatt hour, which is about the same as today's consumer electricity prices. The hope is that in time prices will drop enough to rival the cost of traditional energy.

Scientists at work on the new solar cell. Photo courtesy of Spectrolab. 

According to Larry Kazmerski, director of the Department of Energy's National Center for Photovoltaics in Colorado, this new system could be rolled out as early as next year.

If it all comes to fruition and the new solar cells make it through tests in harsh environmental conditions, the cost of such energy will become even more competitive.

Source: Scientific American