Perovskite Solar Cells: Recent Advances, Challenges and Future Outlook

Perovskite solar cells (PSCs) have emerged as one of the most promising next-generation photovoltaic technologies owing to their remarkable power conversion efficiency (PCE), cost-effective fabrication, and excellent optoelectronic properties. Since their introduction in 2009, PSCs have experienced unprecedented progress, with certified efficiencies increasing from less than 4% to over 27% for single-junction devices, while perovskite–silicon tandem solar cells have surpassed 34% efficiency. Recent developments in material engineering, interface passivation, charge transport layers, tandem architectures, and scalable fabrication techniques have significantly enhanced both device efficiency and operational stability. Despite these remarkable achievements, challenges related to long-term environmental stability, lead toxicity, ion migration, large-scale manufacturing, and commercialization continue to limit widespread adoption. This review summarizes the recent advances in perovskite solar cell technology, emphasizing innovations in material composition, interface engineering, tandem photovoltaics, flexible devices, and manufacturing approaches. The major challenges affecting the commercialization of PSCs are critically discussed, including degradation mechanisms under moisture, oxygen, ultraviolet radiation, and thermal stress. Emerging strategies such as lead-free perovskites, machine learning-assisted material discovery, scalable roll-to-roll processing, and advanced encapsulation technologies are highlighted as promising directions for future development. Overall, perovskite solar cells possess tremendous potential to transform the renewable energy sector by providing highly efficient, lightweight, and economically viable photovoltaic devices. Continued interdisciplinary research is expected to accelerate the commercialization of PSCs and contribute significantly toward achieving global sustainable energy goals.