This paper presents a review of R&D of novel next-generation, high-efficiency photovoltaic solar cells based on III-V compound semiconductors, particularly tandem multi-junction cells, intermediate band cells, hot-carrier cells, and multiple exciton generation cells. These cells are predicted to have the potential to yield conversion efficiencies of over 50%, and research toward their realization has been accelerated worldwide after the east Japan earthquake disaster. It is expected that gigawatt-scale solar power generation plants will be constructed mainly in the low latitude desert areas by making use of these high-efficiency solar cells and sunlight concentrator optics.
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