Embracing thermophotovoltaic electricity: Pathways to market adoption
Alejandro Datas, Paolo Bondavalli, Antonio Pantaleo
Abstract
Thermophotovoltaic (TPV) energy conversion has gained significant attention in recent years, leading to the funding of numerous research and business initiatives, particularly in Europe and the US. This growing interest stems for the remarkable efficiency of TPV devices, which can convert radiant heat directly into electricity with efficiencies exceeding 40 %. This positions TPV as the most efficient solid-state heat engine, with the potential to outperform traditional turbogenerators. This article explores the techno-economic parameters essential for the profitability of TPV systems and examines their primary applications and future research challenges. It begins by outlining the key factors influencing TPV viability, including electric power density, cost per unit area, and TPV cell efficiency. Using the levelized cost of electricity as a central framework, the study identifies suitable applications for TPV technology, emphasizing its potential in military and space applications, waste heat recovery, and thermal energy storage. Finally, the article addresses ongoing research challenges, detailing innovations in TPV technology that could significantly reduce costs and expand its applicability across a wider range of heat source temperatures. The study concludes that the development of TPV batteries—systems that store surplus electricity as ultra-high-temperature heat and reconvert it into electricity using TPV technology—represents a unique opportunity for TPV to move beyond niche applications and toward broader commercial viability. • Provides a comprehensive perspective on the techno-economic landscape of thermophotovoltaic (TPV) electricity. • Analyzes the LCOE as a function of key factors, including efficiency, electric power density, and operational hours. • Identifies primary applications and high-potential markets for TPV technology adoption. • Reviews the current state of the art in TPV technology and outlines critical R&D challenges for future advancements.