Thermophotovoltaic technology prepares for commercial deployment
Researchers examine the conditions needed for thermophotovoltaic technology, capable of converting heat into electricity, to make the leap from the laboratory to commercial deployment.
Turning heat into electricity without turbines, without noise, and with high efficiency is now a real possibility thanks to thermophotovoltaic (TPV) technology, which is beginning to take firm steps toward commercial deployment. In a recent study, researchers from the Institute for Solar Energy at the Technical University of Madrid (UPM), in collaboration with the European Innovation Council and the University of Bari, analyze the technical and economic advances that point to its market entry.
TPV technology is not new: it began to develop in the second half of the 20th century, driven by military programs seeking portable, silent, and maintenance-free energy systems. For decades, its progress was limited by the low efficiency of available cells. However, recent advances in semiconductor materials and optical designs have marked a turning point: in less than 10 years, the efficiency of TPV cells has doubled, rising from 20% to over 40%. To put this in perspective, gas turbines took nearly a century to achieve a similar improvement. This leap places TPV among the most efficient and promising thermal energy conversion technologies in today’s energy landscape.
TPV cells work by capturing thermal radiation emitted by hot sources and converting it into electricity through infrared-sensitive semiconductors. This allows the construction of compact, silent, robust, and scalable systems. But beyond the laboratory, the current challenge is economic viability. The study focuses its analysis on the levelized cost of electricity (LCOE) as the main tool to assess the profitability of a TPV system over its lifetime. Through technical and economic models, the authors identify key factors that influence LCOE, such as efficiency, cost per unit of power, power density, and the type of thermal source.
According to the study, one of the most promising scenarios for this technology is its integration into thermal batteries—systems that store surplus renewable electricity as ultra-high temperature heat, and later reconvert it into electricity using TPV. This configuration could offer a viable solution for large-scale energy storage, one of the cornerstones of a more sustainable power system.
The study also identifies other high-potential markets for TPV, such as space and military applications (due to its reliability, light weight, and silent operation), and the recovery of industrial waste heat in high-temperature processes, like those in the steel or glass industries. In the latter case, where waste heat is a byproduct of industrial operations, the key factor is not efficiency but rather cost reduction in TPV systems and ensuring their reliability under extreme operating conditions.
Several emerging companies are moving forward with TPV-based solutions. Thermophoton, a startup founded by researchers at UPM, is developing thermophotovoltaic batteries based on ferrosilicon alloys and has received funding from the European Union to develop cogeneration systems for heat and electricity in buildings and industrial facilities. Internationally, companies such as Antora Energy, Fourth Power, Mesodyne, JX Crystals, and Heat2Power in the United States; Silbat and Thermophoton in Spain; and Pyramp in Ireland are promoting TPV applications across several fronts, including high-temperature energy storage, portable generators, and industrial heat recovery.
Despite the technological progress, significant challenges remain, such as reducing manufacturing costs, increasing power density, and demonstrating scalability. In this regard, the study reviews current research lines, including the use of selective emitters, bifacial cells, new low-bandgap materials, and near-field devices to improve efficiency in lower-temperature applications.
The study concludes that TPV technology is moving beyond its purely experimental phase and progressing toward concrete commercial applications, driven by the momentum of active business initiatives. However, its consolidation in the market still depends on overcoming key technical barriers, particularly cost reduction and scalability. If these hurdles are addressed, TPV could become a strategic component in the generation and storage of electricity from heat—an abundant and still underutilized energy source.
Alejandro Datas, Paolo Bondavalli, Antonio Marco Pantaleo. Embracing thermophotovoltaic electricity: Pathways to market adoption. Solar Energy Materials and Solar Cells, Volume 283, 2025, 113419, ISSN 0927-0248, https://doi.org/10.1016/j.solmat.2025.113419.
(https://www.sciencedirect.com/science/article/pii/S0927024825000200)