Tandem PV, a U.S.-based innovator in perovskite solar technology, has raised $50 million in Series A funding and debt to establish a commercial-scale solar panel manufacturing facility in the U.S. The investment round was led by Eclipse, with participation from Constellation Energy, Planetary Technologies, Uncorrelated Ventures, Trellis Climate, Tom Werner, Stifel Bank, CSC Leasing, and other investors.

The company’s tandem perovskite solar panels offer an industry-leading 28% efficiency, with projections to surpass 30% by late 2025. This advancement makes them 30% more powerful than standard silicon panels while lowering installation and land costs.

The funding will help Tandem PV accelerate the adoption of its technology and reduce U.S. reliance on foreign solar manufacturers, particularly in China. The company’s perovskite layer is 200 times thinner than silicon and requires just 10% of the energy needed to produce conventional panels, significantly lowering production costs and environmental impact.

Greg Reichow, Partner at Eclipse, emphasized the significance of this breakthrough, stating that Tandem PV’s advancements come at a critical time when the U.S. seeks to bolster domestic solar energy production.

CEO Scott Wharton highlighted the company’s mission to establish the U.S. as a leader in renewable energy, stating, “With Eclipse’s backing, we are no longer just developing breakthrough technology—we are bringing it to market at scale.”

With perovskite solar technology expected to reach gigawatt-scale production by 2028, Tandem PV is positioning itself at the forefront of this industry shift.