Tandem PV, an innovator in American perovskite solar technology, today announced it has secured $50 million in Series A funding and debt, led by Eclipse, with participation from Constellation Energy, Planetary Technologies, Uncorrelated Ventures, Trellis Climate, Tom Werner (former CEO of SunPower), Stifel Bank, CSC Leasing, and other existing and new investors. This funding will enable Tandem PV to construct a commercial-scale manufacturing facility in the U.S., accelerating the adoption of its high-efficiency solar panels and allowing the U.S. to reduce its dependency on foreign manufacturers while increasing its energy security.
Tandem PV’s tandem perovskite panels deliver an industry-leading combination of durability and efficiency unrivaled by other market offerings. Their panels currently achieve 28% efficiency and are projected to surpass 30% by late 2025, proving to be 30% more powerful than the average silicon solar panel. Tandem PV’s panels lower labor and land costs, offering customers a lower total cost of ownership and a sustainable path toward decarbonization.
Industry reports project perovskite solar modules will see gigawatt-scale production by 2028, positioning Tandem PV at the forefront of this technological shift. And with a perovskite layer 200 times thinner than silicon and requiring just 10% of the energy needed to produce conventional panels, Tandem PV’s technology sets a new benchmark in sustainable solar manufacturing by significantly reducing energy usage during production and seamlessly integrating into existing silicon infrastructure.
This Series A funding milestone validates growing confidence in Tandem PV’s technology and its potential to strengthen domestic clean energy production at a time when the majority of solar technology is imported from China. And Tandem PV’s efforts aim to re-establish U.S. leadership in solar innovation, foster energy independence and job creation, and reduce reliance on foreign supply chains. As energy security and economic resilience become increasingly critical, Tandem PV’s technology contributes to a balanced energy future, making it a useful solution for today’s evolving energy landscape.
KEY QUOTES:
“Tandem PV’s performance and progress are incredibly exciting, particularly given there have been minimal breakthroughs in solar technology for the past decade. Tandem PV’s impressive durability and efficiency is unmatched in the market, and it couldn’t come at a more critical time. By building a manufacturing facility in the U.S., Tandem PV will help the U.S. meet its growing energy needs while weaning off its dependence from China and other foreign manufacturers.”
– Eclipse Partner Greg Reichow
“This investment is a resounding endorsement of our mission to revolutionize solar energy and re-establish the U.S. as a leader in renewable technology. With Eclipse’s backing, we are no longer just developing breakthrough technology—we are bringing it to market at scale. As global demand for clean energy surges, Tandem PV is stepping up to meet it—delivering next-generation solar power that is more powerful, more sustainable, and made in America.”
– Scott Wharton, CEO of Tandem PV
