Tandem PV

Tandem PV

Manufactures tandem perovskite-on-silicon solar panels

Overview

Tandem PV makes high-efficiency solar modules by stacking a thin-film perovskite layer on top of conventional silicon solar cells, creating tandem perovskite panels that boost power output. The panels are designed to convert more sunlight per panel, with reported efficiencies around 28%. The company sells these modules and is building manufacturing capacity to scale production for commercialization. By increasing panel output, Tandem PV aims to lower the cost of solar energy and help accelerate the transition to cleaner power. The business differentiates itself through its specific tandem design (perovskite-on-silicon) and a focus on scaling U.S. manufacturing to strengthen domestic solar leadership. Its goal is to reduce the cost of solar and contribute to a net-zero economy by expanding high-efficiency, domestically produced solar modules.

About Tandem PV

Simplify's Rating
Why Tandem PV is rated
B-
Rated B on Competitive Edge
Rated B on Growth Potential
Rated C on Differentiation

Industries

Hardware

Industrial & Manufacturing

Energy

Company Size

51-200

Company Stage

Series A

Total Funding

$74.4M

Headquarters

Santa Clara, California

Founded

2016

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Simplify's Take

What believers are saying

  • June 2026 Jennifer Granholm joined the board, strengthening policy and manufacturing access.
  • April 2026 Fremont factory opened, unlocking first commercial sales in 2026.
  • Tandem PV raised $100 million and won a $4 million CEC grant.

What critics are saying

  • Perovskite stability still faces field-durability scrutiny; UC Merced's 2026 test runs for months.
  • Tandem PV's 2026 commercialization depends on external certification and customer validation.
  • If Fremont yields disappoint, 2028 scale-up dies and capital evaporates.

What makes Tandem PV unique

  • Aug. 2026 nexTC acquisition internalized Tandem PV's critical metal-oxide coating process.
  • Fremont's 65,000-square-foot line produces 40MW tandem panels for customer validation.
  • Perovskite-silicon stacking delivers higher output than silicon alone from the same footprint.

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Funding

Total Funding

$74.4M

Above

Industry Average

Funded Over

7 Rounds

Series A funding typically happens when a startup has a product and some customers, and now needs funding to scale. This money is usually used to grow the team, expand marketing, and improve the product. Venture capital firms are frequently the main investors here.
Series A Funding Comparison
Above Average

Industry standards

$15M
$8.2M
Discord
$15M
Canva
$30M
Kalshi
$50M
Tandem PV

Benefits

Unlimited Paid Time Off

Health Insurance

Life Insurance

Disability Insurance

Parental Leave

Company Equity

Growth & Insights and Company News

Headcount

6 month growth

2%

1 year growth

-2%

2 year growth

-11%
La Alameda Press
Aug 3rd, 2026
Tandem PV acquires nextc to bring critical coating technology in-house - business wire.

Tandem PV acquires nextc to bring critical coating technology in-house - business wire. ... Fremont, California. The facility marks a major step toward commercializing U.S.-manufactured next-generation solar panels for utility-scale... [gamipress_button label="Yes" class="thumbs-rating-up thumbs-rating" url="#gutenslider-pwsyfz0ki-3"] [gamipress_button label="No" class="thumbs-rating-down thumbs-rating" url="#gutenslider-pwsyfz0ki-3"] Based on recent headline ratings, 89% of this readership currently trusts the local media, which has an average score of 89% regionally and is currently trending negative. Media Trust Score

Morningstar
Aug 3rd, 2026
Tandem PV acquires nexTC to bring critical coating technology in-house for perovskite-silicon solar panels

Tandem PV, a US manufacturer of perovskite-silicon solar panels, has acquired nexTC Corporation, an Oregon-based developer of thin-film metal oxide coating processes. The acquisition brings nexTC's coating technology and expertise in-house as Tandem PV scales its Fremont demonstration line. nexTC specialises in solution-based transparent oxide coatings, which are critical for tandem solar panel efficiency and durability. Founder Cory Perkins will join Tandem PV following the acquisition. The deal follows the opening of Tandem PV's 65,000-square-foot demonstration factory in Fremont, which houses a production line with approximately 40MW of annual capacity. The facility produces large-format tandem solar panels for customer validation. Tandem PV has raised $100 million in venture capital, debt and government funding from Eclipse, Constellation Energy, 8090 Industries, Trellis Climate, the US Department of Energy and others.

University of California, Merced
Jul 29th, 2026
Solar company partners with UC Merced to test new panels.

Solar company partners with UC Merced to test new panels. By Patty Guerra, UC Merced July 29, 2026 A coating on the panel could boost its energy output significantly. UC Merced is no stranger to solar panels. The campus, built to be sustainable from the beginning, is home to thousands of them, and they provide a good chunk of the electricity that powers the university. But one very special panel was recently installed on the top of the Science and Engineering 2 Building. The panel was crafted by Tandem PV, a Fremont company that uses perovskite-silicon tandem technology to make high-efficiency solar panels that integrate into existing manufacturing supply chains. This panel has been treated with a thin coating - one-hundredth of a human hair thick - that should boost its energy output from 24 percent to 30 percent. This allows Tandem's technology to generate about 30% more electricity from the same footprint compared to typical silicon solar panels - reducing labor and balance of system costs which account for roughly 75% of utility-scale solar costs. To test panel durability on a larger scale, Tandem PV has collaborated with researchers at UC Merced. They will collect and analyze data from the panel to see how it performs over the next several months. It was installed next to small versions of the same panel, which have been in place for earlier testing. "This is a big deal for us because it will be the first time for Tandem PV to put a panel of this size out for testing," said Professor Sarah Kurtz, chair of UC Merced's electrical engineering department, who is leading the team that will analyze the results. UC Merced offers the perfect combination of skilled researchers, community spirit and location for this kind of project, said Sean Dunfield of Tandem PV. "Everybody knows Sarah Kurtz," Dunfield said. "She collaborates with a lot of people in the industry and they all have the utmost respect for her." The California Energy Commission, which contributed funding, puts a priority on the work being done in-state. "And UC Merced is an easy trip," Dunfield added. "I drove here from the Bay Area this morning to drop it off." Having the panel on campus will make it convenient. Previously, such solar testing was done at UC Merced's Castle Aviation and Development Center at the former Air Force base in Atwater. Tandem PV raised a Series A funding round of $50 million to build the panels to the size they are. The company aims to raise a Series B later this year to build a high-volumecommercial scale factory. The project has obvious payoff for Tandem PV, but the students also gain real-world, cutting-edge experience, Kurtz said. Her team that helped with this installation include Shariful Islam, a graduate student in charge of the data collection, and undergraduates Josue Vera, Luke Gagne and John Kim. Other students help with data analysis. "This is a way for students to apply what they are learning in class in a way that is a tangible contribution to the project," Kurtz said. One of her students, Christine Chang, parlayed the work into an internship with Tandem PV this year. With so many other countries heavily investing in green energy, it's an opportunity to grow and train a local high-tech workforce. It's not at all easy. "My experience with making solar cells is that you have to do a hundred or even a thousand things right or it doesn't work," Kurtz said. "Tandem PV has mastered many of the critical steps and is the leading company in the United States for this kind of technology." Having the technology work is one thing, but it's also important that the panels be cost-efficient and durable. "What everybody cares about is, what is the energy output at 30 years?" Dunfield said. The work being done at UC Merced will have immediate and real impact on the effort. "At the student level, it's really unusual to have access to this kind of project," Dunfield said. "You learn a lot in school, but here they can see the science in commercialization and tech transfer." Public Information Officer Office: (209) 769-0948

The Energy Data
Jun 2nd, 2026
Tandem PV adds former U.S. Energy Secretary Jennifer Granholm to its board.

Tandem PV adds former U.S. Energy Secretary Jennifer Granholm to its board. Former U.S. Energy Secretary Jennifer Granholm joins Tandem PV board to accelerate American solar manufacturing. Tandem PV, a company developing next-generation solar technology based on perovskite-silicon tandem cells, has announced the appointment of former U.S. Energy Secretary Jennifer Granholm to its board of directors. The addition of Granholm comes as the company advances from technology development toward commercial manufacturing and seeks to strengthen its role in the rapidly evolving U.S. clean-energy landscape. The appointment places one of the most prominent energy policy leaders in the United States alongside a company that is aiming to reshape solar power generation through higher-efficiency photovoltaic technology. As electricity demand rises and the nation focuses on expanding domestic manufacturing capabilities, Tandem PV views Granholm's experience in government, economic development, and energy policy as a valuable asset during its next phase of growth. Scott Wharton, chief executive officer of Tandem PV, described Granholm's arrival as a significant milestone for the company. "We're delighted to welcome Jennifer Granholm to Tandem PV's board," Wharton said. "Jennifer understands better than almost anyone how to turn clean-energy innovation into American industrial strength. Tandem PV is entering that phase now as we move breakthrough solar technology into commercial production. Her perspective will be invaluable as we scale advanced solar manufacturing in the United States." Tandem PV is focused on commercializing perovskite-silicon tandem solar panels, a technology that has attracted growing interest across the renewable-energy sector because of its potential to significantly outperform traditional silicon-based solar modules. By combining perovskite materials with conventional silicon cells, tandem designs can capture a broader portion of the solar spectrum, enabling them to generate more electricity from the same surface area. This increased efficiency could help utilities, commercial operators, and developers maximize energy production without requiring additional land or infrastructure. As grid operators face mounting pressure to deliver more electricity while controlling costs and maintaining reliability, technologies that improve energy output per square meter are gaining strategic importance. Industry analysts increasingly view tandem solar technology as one of the most promising pathways for advancing solar performance beyond the practical limits of conventional silicon photovoltaics. Tandem PV's approach seeks to leverage existing manufacturing and deployment infrastructure while introducing substantial efficiency improvements. The company has recently demonstrated notable technical progress. According to Tandem PV, its latest generation of tandem mini-modules achieved an efficiency level of 30.4% during internal testing. The result represents a significant achievement for commercial-scale solar technology and reflects advancements in both materials engineering and manufacturing processes. Importantly, the company says the manufacturing techniques used to achieve the performance milestone were designed with scalability in mind. Rather than relying solely on laboratory conditions, the production methods are intended to support eventual large-scale manufacturing operations. The efficiency results are currently progressing through external certification procedures, an important step toward validating the technology for commercial deployment. Granholm expressed enthusiasm about joining the company during a period of transformation for both the energy industry and domestic manufacturing. "The idea of building the next generation of clean-energy factories in America is incredibly exciting," Granholm said. "Tandem PV is taking a breakthrough technology from a promising idea to real manufacturing, and doing it at exactly the moment when the country needs more affordable, reliable power." She emphasized that increasing electricity production from existing infrastructure could have wide-ranging benefits for energy affordability and national competitiveness. "If you can generate more electricity on the same footprint and make better use of the grid and infrastructure we already have, that is a game changer," Granholm added. "It helps solve the affordability challenge while strengthening American energy leadership." Granholm brings extensive public-sector leadership experience to the board. She served as the 16th U.S. Secretary of Energy from 2021 until 2025, overseeing one of the most consequential periods in modern American energy policy. During her tenure, the Department of Energy played a central role in implementing major federal initiatives aimed at accelerating clean-energy deployment, expanding domestic manufacturing, and strengthening supply-chain resilience. One of the defining legislative achievements during her time in office was the implementation of the Inflation Reduction Act, which included hundreds of billions of dollars in incentives and investments supporting renewable energy, advanced manufacturing, energy storage, electric vehicles, and industrial decarbonization. The legislation is widely regarded as the largest climate and clean-energy investment package in U.S. history. Before leading the Department of Energy, Granholm served two terms as governor of Michigan, where she focused heavily on economic development, job creation, and industrial competitiveness. Her experience navigating the intersection of manufacturing, technology, and public policy aligns closely with Tandem PV's ambitions to establish large-scale domestic production capabilities. The company's expansion plans have already begun to take shape. Earlier this year, Tandem PV opened a commercial demonstration factory in Fremont, California, marking a major step toward bringing perovskite-silicon solar technology into commercial production. The facility serves as a bridge between laboratory innovation and industrial-scale manufacturing, allowing the company to refine production processes while supplying products for customer evaluation. With the Fremont operation now active, Tandem PV has initiated production activities focused on customer validation programs and market trials. These efforts are designed to demonstrate the reliability, efficiency, and commercial viability of its solar panels under real-world conditions. The company plans to begin selling its first commercial solar panels from the Fremont facility in the near future, creating an early market presence while gathering operational experience. Looking further ahead, Tandem PV has established an ambitious roadmap that targets high-volume manufacturing by 2028. That timeline coincides with broader trends shaping the global energy sector. Electricity demand is rising due to electrification, artificial intelligence infrastructure, data center growth, industrial expansion, and the continued adoption of electric vehicles. At the same time, governments and businesses are seeking technologies capable of delivering greater energy output while reducing costs and enhancing supply-chain security. For Tandem PV, the combination of advanced solar technology, domestic manufacturing ambitions, and experienced leadership could position the company as a notable participant in the next chapter of the renewable-energy industry. The addition of Jennifer Granholm to its board signals the company's intent to pair technological innovation with strategic guidance as it works to move perovskite-silicon solar panels from promising research into widespread commercial deployment. As the United States continues investing in clean-energy infrastructure and manufacturing capacity, Tandem PV's progress may serve as an indicator of how quickly advanced solar technologies can transition from laboratory breakthroughs to large-scale industrial production, helping meet the nation's growing demand for affordable, reliable, and domestically produced clean electricity.

Citybiz
Jun 1st, 2026
Former U.S. Energy Secretary Jennifer Granholm joins Tandem PV board as company advances U.S. Solar manufacturing.

Former U.S. Energy Secretary Jennifer Granholm joins Tandem PV board as company advances U.S. Solar manufacturing. June 1, 2026 Jennifer Granholm Tandem PV has appointed former U.S. Energy Secretary Jennifer Granholm to its board of directors, adding a prominent clean energy and manufacturing policy leader as the company moves from technology development into commercial solar production. The appointment comes as Tandem PV scales production of its perovskite-silicon tandem solar panels and expands its domestic manufacturing footprint to address growing electricity demand and supply chain concerns across the U.S. energy sector. "We're delighted to welcome Jennifer Granholm to Tandem PV's board," said CEO Scott Wharton. "Jennifer understands better than almost anyone how to turn clean-energy innovation into American industrial strength. Tandem PV is entering that phase now as we move breakthrough solar technology into commercial production." The hire aligns with Tandem PV's current operational priorities. While the company's technology has attracted attention for its efficiency gains, the immediate challenge is manufacturing execution - translating laboratory performance into scalable production while establishing a domestic supply chain capable of supporting commercial deployment. Tandem PV is developing perovskite-silicon tandem solar panels, which combine traditional silicon cells with perovskite materials to capture a broader portion of the solar spectrum. The approach is designed to increase power output without requiring additional land, grid infrastructure or major changes to existing utility-scale solar development practices. The company recently reported that its latest tandem mini-modules achieved 30.4% efficiency in internal testing, a result now undergoing external certification. More importantly from a commercialization perspective, Tandem says the modules were produced using manufacturing processes intended to scale into commercial production rather than laboratory-only methods. Granholm joins the board as the company transitions from research and development toward manufacturing and market deployment. During her tenure as U.S. energy secretary from 2021 to 2025, she helped oversee implementation of major federal investments in domestic energy manufacturing, industrial development and clean energy infrastructure, including programs established under the Inflation Reduction Act. "The idea of building the next generation of clean-energy factories in America is incredibly exciting," Granholm said. "Tandem PV is taking a breakthrough technology from a promising idea to real manufacturing, and doing it at exactly the moment when the country needs more affordable, reliable power." The company recently opened a commercial demonstration factory in Fremont, California, which serves as the bridge between technology development and full-scale manufacturing. The facility is currently producing panels for customer validation and market trials, with initial commercial sales expected in the coming months. Tandem PV is targeting high-volume manufacturing by 2028. From an industry perspective, the company is attempting to address two significant challenges simultaneously: improving solar panel efficiency and rebuilding advanced solar manufacturing capacity in the United States. Higher-efficiency panels can generate more electricity from the same installation footprint, improving project economics and making more effective use of existing transmission infrastructure. At the same time, domestic production has become a strategic priority as policymakers and energy companies seek to reduce dependence on overseas manufacturing for critical energy technologies. Granholm's appointment reflects the growing importance of commercialization, manufacturing scale-up and industrial policy expertise for clean energy companies. As Tandem PV moves from development into production, the company is increasingly focused on factory operations, supply chain development, customer validation and deployment at commercial scale. Founded around technology originally developed at Stanford University, Tandem PV has raised approximately $87 million through a combination of venture capital, debt financing and government support. Investors and backers include Eclipse, Constellation Energy, Trellis Climate, the U.S. Department of Energy and the California Energy Commission. With its demonstration facility now operating and commercialization efforts underway, the company is positioning itself to compete in the next generation of solar manufacturing, where efficiency gains must be matched by scalable production and reliable execution.

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