Researchers in Singapore have created a 'highly efficient', 'cheaper' solar cell that they hope will halve the cost of solar energy, the Agency for Science, Technology and Research (A*Star) said on Wednesday.

Developed jointly by Nanyang Technological University (NTU) and A*Star's Institute of Microelectronics (IME), the new thin-film silicon solar cells are designed to be made from cheaper, low grade silicon. However it is able to generate electricity currents close to that produced by traditional solar cells made from costly, high quality silicon.

The new NTU-A*Star nano-structured solar cells can produce a current of 34.3mA/cm2 - a world record for a silicon solar cell of its kind.

This is made possible by creating a unique texture using nanostructures - which is thousands of times smaller than human hair - on the surface of the solar cell. The resulting electricity current output is close to those of traditional cells (40mA/cm2). Conventional thin film solar cells usually produce about half of the current that traditional cells produce.