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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.

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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

HardwareIndustrial & ManufacturingEnergy

Company Size

51-200

Company Stage

Grant

Total Funding

$82.1M

Headquarters

Fremont, California

Founded

2016

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Simplify's Take

What believers are saying

  • ARPA-E selected Tandem PV on August 25, 2026 for a $7.7 million SCALEUP award.
  • Tandem PV reported nearly $1 billion in letters of intent in August 2026.
  • TIME named Tandem PV a top GreenTech company for the third straight year, March 26, 2026.

What critics are saying

  • Tandem PV still needs external certification for its 30.4% modules before broad sales.
  • Bankability depends on 2026 customer trials; failed durability tests kill utility-scale adoption.
  • High-volume manufacturing targeted for 2028; delays there would strand Tandem PV’s commercialization thesis.

What makes Tandem PV unique

  • Tandem PV’s 40MW Fremont factory commercializes perovskite-silicon tandems in America.
  • Jennifer Granholm joined Tandem PV’s board on June 1, 2026, strengthening policy access.
  • nexTC acquisition in August 2026 internalized critical oxide coating know-how for module manufacturing.

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Funding

Total Funding

$82.1M

Above

Industry Average

Funded Over

8 Rounds

Grant funding comparison data is currently unavailable. We're working to provide this information soon!
Grant Funding Comparison Coming Soon

Benefits

  • Unlimited Paid Time Off
  • Health Insurance
  • Life Insurance
  • Disability Insurance
  • Parental Leave
  • Company Equity

Growth & Insights and Company News

Headcount

6 month growth

5%

1 year growth

-1%

2 year growth

-8%
Renewables Now Ltd
Aug 25th, 2026
US solar panel maker Tandem PV wins $7.7M DOE grant to accelerate perovskite-silicon tandem production

US solar panel maker Tandem PV has been selected for a US Department of Energy programme that will provide approximately $7.7 million to accelerate commercial production of its perovskite-silicon tandem solar technology. The funding comes through the DOE's ARPA-E SCALEUP Ready award. Tandem PV announced the selection on Tuesday. Perovskite-silicon tandem technology represents an emerging approach in solar panel manufacturing that combines two materials to potentially improve energy conversion efficiency.

Rick Turoczy
Aug 5th, 2026
California's Tandem PV acquires nexTC, Oregon State University spinout.

California's Tandem PV acquires nexTC, Oregon State University spinout. An Oregon startup just became a key ingredient in a California solar manufacturer's production line. Tandem PV, a maker of high-efficiency tandem solar panels, has acquired nexTC Corporation, an Oregon company that spun out of Oregon State University in 2018 to commercialize a new kind of transparent coating for solar cells. nexTC's specialty is solution-based transparent oxide coatings. Ultrathin layers used in tandem solar panels modify charge transport while still letting sunlight reach the silicon cell below. Those coatings, the company says, play an important role in a module's efficiency, durability, and manufacturability. Since spinning out of an NSF-funded research center at Oregon State, nexTC has racked up 17 peer-reviewed publications and six patent applications - the kind of paper trail that suggests this was a lab-grade bet, not a pitch-deck one. For Tandem PV, the draw is getting that coating chemistry directly onto its manufacturing line as it scales toward commercial production at its 65,000-square-foot Fremont demonstration factory. Founder and CEO Cory Perkins, Ph.D., joins Tandem PV as part of the deal. "After collaborating with Tandem PV on several projects, I saw a team that combines strong science with the ability to move technology onto a manufacturing line," Perkins said. (h/t Rob Wilcox) Published by Rick Turoczy. More than mildly obsessed with the Portland startup community. Founder and editor at Silicon Florist. Cofounder and general manager at PIE. Follow me on Twitter: @turoczy View all posts by Rick Turoczy

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

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