Based on previous research getting a low cost pv cell to double it's efficiency is highly unlikely.
Sure the existing panel efficiency (~20 - 22%) will increase but the only way to push that % above 45% requires additional technology (multi-layered cells, light magnification, etc.) to be included in the production which in turn just increases the cost per watt.
What will help reduce the $/watt is to maintain an efficiency around 25% yet lower the cost due to cheaper materials and production expenses. But I do not expect the cost to go down dramatically while the efficiency doubles.
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