Core Insights - Ricoh Company, Ltd. has installed its perovskite solar cells on the Space Solar Cell Demonstration System (SDX) aboard the HTV-X1 spacecraft, launched by JAXA on October 26, 2025, for an in-orbit demonstration [1][3] Group 1: Solar Cell Technology - The in-orbit demonstration will last approximately two months, during which the current-voltage characteristics, power generation performance, and durability of Ricoh's perovskite solar cells will be evaluated [3] - Perovskite solar cells are advantageous due to their high power generation under low illumination, strong resistance to cosmic radiation, and potential for lightweight and flexible designs, making them suitable for future space applications [3][4] Group 2: Research and Development - Since 2017, Ricoh has collaborated with JAXA's Space Exploration Innovation Hub Center to develop durable perovskite solar cells suitable for space environments [4] - The company aims to enhance energy conversion efficiency and durability while achieving high productivity and cost reductions through its core technologies, including organic photoconductors and inkjet printing [5] Group 3: Commercialization Efforts - Following the results of the space demonstration, Ricoh plans to continue improving the performance and durability of perovskite solar cells, accelerating their development towards early commercialization [6] - Ricoh's global operations reached approximately 2,527 billion yen (around 16.8 billion USD) in sales for the financial year ending March 2025, indicating a strong market presence [8]

Core Insights - Perovskite solar cells are emerging as a viable alternative to traditional silicon panels, offering higher efficiency and lower production costs [1] - First Solar Inc. (FSLR) is actively investing in perovskite technology to enhance its thin-film solar panel offerings [1][10] Company Developments - In 2023, FSLR acquired Swedish perovskite specialist Evolar AB to advance the development and commercialization of high-efficiency thin-film PV technology [2] - FSLR is establishing a perovskite development line at its Perrysburg, OH campus as part of a $370 million R&D initiative focused on next-generation solar technologies [3][10] - As of March 2025, FSLR is continuing its research into perovskite crystals to improve efficiency and stability for commercially scalable products [4] Industry Trends - Perovskite solar cells have seen efficiency improvements from 3% in 2009 to over 26% in 2024 for small-area devices, indicating significant advancements in the technology [5] - JinkoSolar (JKS) is also investing in perovskite technology, achieving a conversion efficiency of 33.84% in its N-type TOPCon-based perovskite tandem solar cell [7] - Canadian Solar (CSIQ) is enhancing its module efficiency through TOPCon technology and may explore perovskite solutions in the future [8] Market Performance - FSLR shares have increased by 36.6% over the past three months, outperforming the industry growth of 35.5% [9] - FSLR's shares are trading at a forward 12-month Price/Earnings ratio of 9.57X, below the industry average of 17.02X, indicating a relative discount [11]