Engineers at the University of New South Wales (UNSW) achieved 34.5 percent sunlight-to-electricity conversion efficiency, a new mark that also comes closer than ever to the theoretical limits of such a system.

UNSW's Dr. Mark Keevers and Professor Martin Green set the record with a 28 centimeter-square (4.3 sq in), four-junction mini-module embedded in a prism. This new configuration allows the sun's rays to be split into four bands so that a higher amount of energy can be extracted from each beam.

The same team reached an even higher level of efficiency a few years back using mirrored concentrators that were able to convert 40 percent of incoming sunlight to electricity. However, this new record is the highest level achieved without the use of concentrators.