A team of Korean researchers has developed a cutting-edge solar cell that might help reduce our dependence on fossil fuels. The discovery could make Korea a leader in the alternative energy industry as the research team plans to double the cell’s efficiency and commercialize the technology by 2012. The team’s leader, Lee Kwang-hee of the Gwangju Institute of Science and Technology, said on Thursday, ‘Together with Prof. Alan Heeger at the University of California Santa Barbara, we have developed a plastic solar cell with 6.5 percent efficiency. That level of efficiency is sufficiently high for commercial products.’ The discovery was explained in the July 13 issue of Science, one of the world’s most prestigious academic journals. Existing solar cells that use silicon semiconductors cost US$2.30 to generate one watt of electricity, which is three to 10 times higher than the production cost of thermal or hydro power. The new plastic solar cell costs just ten cents per watt. ‘The efficiency of converting solar power to electricity should be at least seven percent for commercialization. Many foreign researchers even failed to develop solar cells with more than five percent efficiency,’ Prof. Lee said. ‘We’re going […]