Charting New Horizons: Unrivalled Efficiency and Stability in Perovskite Solar Cells

Perovskite solar cells (PSCs) with hybrid halide perovskite playing the role of photon‐harvesting materials have recently made strides in efficiency that have put them in the spotlight of solar cell research. Though PSCs are capable of exhibiting favorable photoconversion capabilities, they have not yet been commercialized as they are unstable in typical operating environments, especially for longer‐term usage. The mechanisms by which PSCs degrade, along with the methods to enhance their conversion efficiency, are studied, which, in turn, helps develop effective solutions to the degradation problem and increase the stability of the device architecture. A broad collection of theoretical and experimental analysis on stability of PSCs is available. In this article, a strategic review on the main challenges in attaining superior efficiency for PSCs along with the methods to overcome their efficiency limit is included providing emphasis to various degradation mechanisms of perovskite structures followed by a detailed examination of various factors impacting stability of PSCs as a whole. The performance and stability of devices can be improved by means of several methods including compositional engineering, interfacial engineering, device encapsulation, etc. The strategies that can be used to improve PSCs’ long‐term stability while ensuring cost‐effective device manufacture are covered here.