In the wave of new energy development, policy guidance continues to reshape the industry landscape. The recent issuance of the Notice on Deepening Market-Oriented Reforms of New Energy Feed-in Tariffs and Promoting High-Quality Development of New Energy (Document No. 136 [2025] of the National Development and Reform Commission and the National Energy Administration, referred to as "Document No. 136") marks a transformative shift in China's new energy pricing mechanism from "plan-led" to "market-driven" models.

The uncertain photovoltaic electricity price has overturned the previous power station revenue calculation model, and the future revenue of photovoltaic projects is highly uncertain. Under this uncertainty, one certainty remains: only by continuously reducing the levelized cost of electricity (LCOE) can PV projects sustain profit growth, enhance competitiveness in power trading markets, and deliver greater returns to plant owners. LCOE is the primary competitive metric for PV modules. Against this backdrop, perovskite modules—leveraging their technological attributes—will gain a stronger edge in reducing LCOE and boosting owner returns.

01 Significant Cost Advantages for Wider Adoption

Cost superiority lies at the core of perovskite PV technology.

Material Efficiency: Perovskite modules require minimal raw materials, which are low-cost and readily available, with relaxed purity standards, offering clear material cost benefits.

Streamlined Production: A single factory can produce perovskite modules from raw materials to finished products in 45 minutes, whereas crystalline silicon (c-Si) cells require multi-step processing across four facilities over several days.

Energy Savings: Perovskite manufacturing operates at temperatures below 150°C, drastically reducing energy consumption compared to c-Si's high-temperature processes exceeding 1,000°C.

Dr. Yu Zhenrui, Co-founder and CEO of UtmoLight, states that with technological advancements and scaled production, the total cost of perovskite modules is expected to drop below RMB 0.5/W. In contrast, current c-Si modules already incur cash costs of RMB 0.69/W, highlighting perovskite's promising cost-per-watt outlook.

02 High Efficiency and High Potential.

Perovskite cells demonstrate strong photoelectric conversion efficiency. Single-junction perovskite cells boast a theoretical efficiency of 33%, surpassing the 29.4% theoretical limit of traditional c-Si cells. Since the technology was born in 2009, the efficiency of perovskite solar cells has improved rapidly, with the laboratory efficiency rising from 3.8% to 27.0%.

Data from international authoritative institutions show that the efficiency of perovskite solar cells has been improving rapidly. Over the past five years, the average annual growth rate of perovskite solar cell efficiency has exceeded 1.5%, while that of crystalline silicon cells has only been about 0.5% during the same period. The mass production efficiency of perovskite modules is expected to surpass that of crystalline silicon.

03 Robust Performance in Extreme Conditions

The performance of perovskite modules is also extremely excellent.

Light Absorption: Efficient conversion is achieved with a mere hundred-nanometer-thick film, whereas c-Si wafers require thicknesses of 130–150μm, significantly reducing material consumption.

Temperature Coefficient: Perovskite modules exhibit a power temperature coefficient of -0.001%/°C to -0.004%/°C, far lower than c-Si's -0.29%/°C to -0.38%/°C.

Third-Party Verified Pilot Plant tests confi rm  that perovskite modules maintain stable power generation in high-temperature, high-irradiance environments, with superior wattage output and system efficiency compared to c-Si. In low-light conditions, perovskite modules demonstrate increased efficiency, generating more power than c-Si modules—especially during high-priced morning and evening peak hours, delivering greater returns to plant owners under market-based power trading.

04 Low-Carbon Credentials for Green Revenue Growth

Against the global backdrop of carbon reduction and carbon neutrality, perovskite modules' low-energy, low-emission attributes are increasingly valuable.

Lifecycle Analysis: While c-Si modules have a carbon footprint of 400–500g/W, perovskite modules emit just 100–200g/W, significantly lower.

This alignment with green development principles enables perovskite plants to generate additional revenue through green certificate trading. Their low-carbon advantage supports enterprises in acquiring green certificates, participating in trading, and boosting profits. It also strengthens their ability to expand into international markets and address carbon taxes.

05 Diverse Applications for Unlimited Potential

The global BIPV market is projected to reach a hundred-billion-dollar scale by 2030. Compared to conventional thin-film batteries dominant in BIPV, perovskite modules' LCOE advantage will further expand market penetration. Beyond this, perovskite holds broad prospects in aerospace, outdoor products, automotive, and consumer goods sectors.

In the complex environment of market-oriented new energy tariff reforms, perovskite is emerging as a key driver of PV industry innovation, poised to become the "second growth curve" for PV. By leveraging its multi-dimensional advantages, perovskite will further reduce PV's LCOE.

As a global leader in perovskite commercialization, UtmoLight remains deeply committed to underlying technological innovation and industrialization. With the inauguration of the world's first GW-scale production line, UtmoLight will accelerate perovskite's commercial deployment. Through technological breakthroughs and industrial leadership, the company is building new growth engines for the PV sector, delivering enhanced value to global customers.