Sekisui Chemical plans to mass produce perovskite solar cells, a new technology said to hold the key to the expansion of renewable energy.

Officials of the major Japanese chemical maker said on December 26 in Tokyo that they will set up a new company in January to design and produce perovskite solar cells and start selling them during fiscal 2025 that begins in April.

Perovskite solar cells are shaped like thin films and are lighter and more flexible than the conventional silicon-based solar cells.

They can be installed at a wide range of locations, including buildings with low load-bearing capacity.

Production will initially be conducted at Sekisui Chemical's existing facilities and later utilize part of the solar cell production lines at a factory in Sakai, Osaka Prefecture, that it purchased from Sharp.

They aim to raise production capacity to 100 megawatts by fiscal 2027 and to 10,000 megawatts by fiscal 2030.

The Japanese government plans to say in its next strategic energy plan that renewable energy will be the country's primary power source in fiscal 2040.

The success of perovskite solar cells will be vital for achieving this goal, but work needs to be done to address the product's durability and reduce costs through mass production.