To date, solar-cell efficiencies have remained well below the thermodynamic limits. However new nanophotonic and microphotonic approaches to light management that systematically minimize thermodynamic losses can enable ultrahigh efficiencies previously considered to be out of reach.

AIP
doi.org/10.1063/1.4794700
LMPV
Photonic Materials

Atwater, H.A, Polman, A, Kosten, E.D, Callahan, D, Spinelli, P, Escarra, M, … Flowers, C. (2013). Nanophotonic design principles for ultrahigh efficiency photovoltaics. In Nobel Symposium 153 : Nanoscale energy converters : held in Örenäs Castle, Sweden 12 – 16 August 2012 (pp. 17–21). AIP. doi:10.1063/1.4794700