Suntech Power Holdings Co Ltd, the University of New South Wales and Silex Solar have announced a joint research project to boost the power conversion efficiencies of crystalline silicon solar cells. 

The three-year partnership received a $5m grant from the Australian Solar Institute (ASI), the largest award given to any of the 87 grant applicants in the ASI's first competitive funding call.

In addition to the research grant, Silex Solar and Suntech will contribute more than $6 million in direct funding and in-kind research resources over the next three years to support research operations.

"We are pleased to support the world-renowned team at UNSW in collaboration with its industry partners Suntech and Silex Solar through this ground-breaking project," said Mark Twidell, Executive Director of the Australian Solar Institute.

Dr Zhengrong Shi, Chairman and CEO of Suntech, and a graduate of the University of New South Wales said his company's long-term research collaborations with Australian organizations including UNSW are central to driving solar power innovation.

"Silex Solar and UNSW are ideal partners for this solar research project, made possible by the vision and leadership of the Australian Solar Institute. Our long-term research collaborations with Australian organizations are central to driving solar innovation," said Dr Shi.

"As our earth suffers under the strains of fossil fuel energy production, we are empowering individuals and communities in Australia and around the world to look up and harness nature's cleanest and most abundant energy resource."

The research project is expected to complement Suntech's development of high-efficiency Pluto solar cell technology and aims to drive solar electricity generation past grid parity against retail electricity prices in more than 50% of the world's markets.

The Australian Solar Institute is a $100 million commitment by the Australian Government to support solar thermal and solar photovoltaic research and development.

Silex Solar is Australia's only manufacturer of solar panels for the local home and commercial solar power market. The company acquired the shuttered BP solar panel manufacturing facility at Sydney Olympic Park last year and recently commenced production.

"This promising research collaboration will hopefully generate additional enhancements to our industry-leading photovoltaic cells," said Stuart Wenham, Chief Technology Officer for Suntech and Director of the Centre of Excellence for Advanced Silicon Photovoltaics and Photonics at UNSW. "Our goal, by the end of this project, is to drive solar electricity generation past grid parity against retail electricity prices in more than 50% of the world's markets."

Professor Wenham is recognised as a global leader in the research and development of solar cell technology. A graduate of the University of New South Wales he was named NSi Inventor of the Year in 2009. He has also won the Clunies Ross Medal, William R. Cherry Award and the World Technology Award for Energy.