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Houston lab's breakthrough light-harvesting processes near market readiness

The new process developed by Rice University researchers makes solar cells that are about 10 times more durable than traditional methods. Photos by Jeff Fitlow/Rice University

A groundbreaking Rice University lab has made further strides in its work to make harvesting light energy more efficient and stable.

Presented on the cover of a June issue of Science, a study from Rice engineer Aditya Mohite's lab uncovered a method to synthesize a high-efficiency perovskite solar cell, known as formamidinium lead iodide (FAPbI3), converting them into ultrastable high-quality photovoltaic films, according to a statement from Rice. Photovoltaic films convert sunlight into electricity.

The new process makes solar cells that are about 10 times more durable than traditional methods.

“Right now, we think that this is state of the art in terms of stability,” Mohite said in a statement. “Perovskite solar cells have the potential to revolutionize energy production, but achieving long-duration stability has been a significant challenge.”

The change come from "seasoning" the FAPbI3 with 2D halide perovskites crystals, which the Mohite lab also developed a breakthrough synthesis process for last year

The 2D perovskites helped make the FAPbI3 films more stable. The study showed that films with 2D perovskites deteriorated after two days of generating electricity, while those with 2D perovskites had not started to degrade after 20 days.

“FAPbI3 films templated with 2D crystals were higher quality, showing less internal disorder and exhibiting a stronger response to illumination, which translated as higher efficiency," Isaac Metcalf, a Rice materials science and nanoengineering graduate student and a lead author on the study, said in the statement.

Additionally, researchers say their findings could make developing light-harvesting technologies cheaper, and can also allow light-harvesting panels to be lighter weight and more flexible.

"Perovskites are soluble in solution, so you can take an ink of a perovskite precursor and spread it across a piece of glass, then heat it up and you have the absorber layer for a solar cell,” Metcalf said. “Since you don’t need very high temperatures ⎯ perovskite films can be processed at temperatures below 150 Celsius (302 Fahrenheit) ⎯ in theory that also means perovskite solar panels can be made on plastic or even flexible substrates, which could further reduce costs.”

Mohite adds this has major implications for the energy transition at large.

“If solar electricity doesn’t happen, none of the other processes that rely on green electrons from the grid, such as thermochemical or electrochemical processes for chemical manufacturing, will happen,” Mohite said. “Photovoltaics are absolutely critical.”

The Mohite lab's process for creating 2D perovskites of the ideal thickness and purity was published in Nature Synthesis last fall. At the time, Mohite said the crystals "hold the key to achieving commercially relevant stability for solar cells."

About a year ago, the lab also published its work on developing a scalable photoelectrochemical cell. The research broke records for its solar-to-hydrogen conversion efficiency rate.

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A View From HETI

Fervo Energy has closed financing to support the remaining construction costs for the first phase of Cape Station. Photo via fervoenergy.com

Houston geothermal unicorn Fervo Energy has closed $421 million in non-recourse debt financing for the first phase of its flagship Cape Station project in Beaver County, Utah.

Fervo believes Cape Station can meet the needs of surging power demand from data centers, domestic manufacturing and an energy market aiming to use clean and reliable power. According to the company, Cape Station will begin delivering its first power to the grid this year and is expected to reach approximately 100 megwatts of operating capacity by early 2027. Fervo added that it plans to scale to 500 megawatts.

The $421 million financing package includes a $309 million construction-to-term loan, a $61 million tax credit bridge loan, and a $51 million letter of credit facility. The facilities will fund the remaining construction costs for the first phase of Cape Station, and will also support the project’s counterparty credit support requirements.

Coordinating lead arrangers include Barclays, BBVA, HSBC, MUFG, RBC and Société Générale, with additional participation from Bank of America, J.P. Morgan and Sumitomo Mitsui Trust Bank, Limited, New York Branch.

“As demand for firm, clean, affordable power accelerates, EGS (Enhanced Geothermal Systems) is set to become a core energy asset class for infrastructure lenders,” Sean Pollock, managing director, project Finance at RBC Capital Markets, said in a news release. “Fervo is pioneering this step change with Cape Station, a vital contribution to American energy security that RBC is proud to support.”

The oversubscribed financing marks Cape Station’s shift from early-stage and bridge funding to a long-term, non-recourse capital structure, according to the news release.

“Non-recourse financing has historically been considered out of reach for first-of-a-kind projects,” David Ulrey, CFO of Fervo Energy, said in a news release. “Cape Station disrupts that narrative. With proven oil and gas technology paired with AI-enabled drilling and exploration, robust commercial offtake, operational consistency, and an unrelenting focus on health and safety, we have shown that EGS is a highly bankable asset class.”

Fervo continues to be one of the top-funded startups in the Houston area. The company has raised about $1.5 billion prior to the latest $421 million. It also closed a $462 million Series E in December.

According to Axios Pro, Fervo filed for an IPO that would value the company between $2 billion and $3 billion in January.

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