Sharp achieved this latest breakthrough as a result of a research and development initiative promoted by Japan’s New Energy and Industrial Technology Development Organization (NEDO)*3 on the theme of "R&D on Innovative Solar Cells." Measurement of the value of 37.9%, which sets a new record for the world's highest conversion efficiency, was confirmed at the National Institute of Advanced Industrial Science and Technology (AIST).

Compound solar cells utilize photo-absorption layers made from compounds consisting of two or more elements, such as indium and gallium. The basic structure of this latest triple-junction compound solar cell uses proprietary Sharp technology that enables efficient stacking of the three photo-absorption layers, with InGaAs (indium gallium arsenide) as the bottom layer.