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Cell efficiency progress
Multijunction concentrator cells (shown in purple, top line) are the most efficient photovoltaic components by far, but also the most expensive to produce. But because of the economics of CPV, a modest improvement in cell efficiency translates to a significant cut in the cost of solar electricity produced this way. Solar Junction's world record improves on Spire's previous best (not shown on this chart) by 1.2%, and maintains the roughly 1%-per-year improvement in multijunction cell performance seen over the past decade. Source: NREL.
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