According to the company, it received the Queen's Award for Enterprise in the Innovation category for its work on Solamet - a photovoltaic metallization paste that is said to be key in making solar panels work better.
"Addressing energy needs is a global concern. The generation of renewable energy will be the fastest growing sector in the energy market for the next 20 years, and materials for photovoltaic applications are a critical success factor for sustainable growth," said Ian Hudson, president of DuPont Europe, Middle East and Africa.
According to DuPont, the efficiency of a crystalline silicon solar cell was about 10 percent in 1998, while some monocrystalline wafers today come closer to the 18 percent mark. Multi-crystalline wafers tend to operate at about 16 percent efficiency. As panels become more efficient, they will also become more competitive in price with fossil fuels, which is one of the industry's most important long-term goals.
DuPont also noted that the award it received is the most prestigious one offered by the United Kingdom for business performance.
