Abstract
Third-generation solar cells are designed to achieve high power-conversion efficiency while being low-cost to produce. These solar cells have the ability to surpass the Shockley−Queisser limit. This review focuses on different types of third-generation solar cells such as dye-sensitized solar cells, Perovskite-based cells, organic photovoltaics, quantum dot solar cells, and tandem solar cells, a stacked form of different materials utilizing a maximum solar spectrum to achieve high power conversion efficiency. Apart from these solar cells, other third-generation technologies are also discussed, including up-conversion, down-conversion, hot-carrier, and multiple exciton. This review provides an overview of the previous work in the field, alongside an introduction to the technologies, including their working principles and components. Advancements made in the different components and improvements in performance parameters such as the fill factor, open circuit voltage, conversion efficiency, and short-circuit current density are discussed. We also highlight the hurdles preventing these technologies from reaching commercialization.