Innovative solar technology reshaping the renewable energy landscape
Tandem PV, a pioneer in American perovskite solar technology, has been named for the second year in a row to the 50 by 2050 list, which recognizes 50 private climate tech companies with the vision, innovation and scale to significantly advance global decarbonization over the next 25 years. Published by Congruent Ventures and Silicon Valley Bank, the 2025 50 by 2050 list, reflects both the rapid pace of climate innovation and the growing urgency of the challenge ahead.
"Tandem PV is honored to be recognized in this year’s 50 by 2050 list as a leading carbon-reduction player in the How We Power Our Lives category," said Scott Wharton, CEO of Tandem PV. “As we expand domestic manufacturing, we are scaling a platform that will help re-establish U.S. leadership in solar innovation and build a secure and sustainable energy future.”
Tandem PV’s solar panels stack a thin layer of perovskite, a powerful light-absorbing material, on top of conventional silicon solar cells. This dual-layer approach increases power output and reduces the cost of solar energy. The company’s panels currently achieve 28% efficiency and are 30% more powerful than the average silicon solar panel. In the lab, Tandem PV has demonstrated the equivalent of decades of durability, confirming long-term performance and reliability.
To assemble the 50 by 2050 list, the report's authors considered over 500 companies sourced from funding databases and nominations from experts across in academia, startups, corporations, and the investing community representing a diverse range of subsectors.
"The 50 by 2050 list highlights companies at the intersection of energy, security, technological advancement and climate impact - the next set of billion-dollar market leaders," the report's authors note. "These are not only critical climate actors, but also high-growth businesses poised to move markets, redefine industries, and deliver outsized returns.”
Tandem PV was also named to TIME Magazine’s list of the Top GreenTech Companies of 2025. Earlier this year, the company announced a $50 million Series A funding round to expand its manufacturing infrastructure, accelerate product commercialization and meet growing customer demand.
Tandem PV is accelerating the clean energy transition with next-generation perovskite-silicon solar panels built for durability, performance, and scale. The company manufactures domestically to support American clean energy leadership, lower costs, and create supply chain resilience. Co-founder and CTO Colin Bailie developed the world’s first perovskite-silicon tandem solar cell at Stanford University before launching Tandem PV through the Department of Energy’s Activate accelerator. To date, the company has raised $87 million in venture capital, debt, and government funding from Eclipse, Constellation Energy, the DOE, California Energy Commission, and others.
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