In conventional solar panels, the existing average sunlight conversion rate is around 15-16%. The researchers at UNSW, Australia have achieved a record breaking conversion rate of over 40% of sunlight into electricity.

Solar energy is considered to be the best sustainable form of energy that can be converted into electricity. World-wide many solar panels have been introduced that convert solar energy into electricity. The industry best conversion rate so far has been 21.5% [X series panel of Sun Power]. In this regard the 40% conversion rate is considered to be a really big achievements by UNSW, Australia.

The new results are based on the use of focused sunlight, and are particularly relevant to photovoltaic power towers being developed in Australia. A key part of the prototype's design is the use of a custom optical bandpass filter to capture sunlight that is normally wasted by commercial solar cells on towers and convert it to electricity at a higher efficiency than the Solar Cells themselves ever could.

Such filters reflect particular wavelengths of light while transmitting others.

I consider this as the best news in the area of sustainable energy forms. This will double the efficiency of solar panels. We shall be able to tap the natural resources in a better manner.

Further reading may be referred to the given sources.

Source:

1. http://www.forbes.com/sites/peterdetwiler/2013/07/16/as-solar-panel-efficiencies-keep-improving-its-time-to-adopt-some-new-metrics/

2. http://newsroom.unsw.edu.au/news/science-technology/unsw-researchers-set-world-record-solar-energy-efficiency