The application of strain to photovoltaics (PVs), thermoelectrics
(TEs), and semiconductors often has substantial impacts on the fundamental
properties governing the efficiency of these materials. In this work,
we investigate two stable phases of hybrid organic–inorganic
two-dimensional (2D) perovskites (2DPKs) and their response to the
application of tensile and compressive strain of up to 5%. These 2D
MAPbI3 analogues are known to exhibit strongly anisotropic
properties and have been put forward as excellent candidates for application
in mixed PV–TE devices. Our results, stemming from ab initio density functional theory calculations and investigation
of transport properties through the Boltzmann transport equations,
further elucidate the key properties contributing to the success of
these materials. In particular, both the M1 and M2 phases exhibit
stable structures between −5 and 5% biaxial strains. The M2
phase exhibits an excellent 23.8% power conversion efficiency under
the application of 5% tensile strain. Furthermore, we analyze the
effects of spin-orbit coupling on the band structures of both phases,
revealing great potential for spintronic applications with the M2
phase, demonstrating Rashba coefficients up to 3.67 eV Å.