The
challenge in solar energy today is not the cost of photovoltaic
(PV) electricity generation, already competing with fossil fuel prices,
but rather utility-scale energy storage and flexibility in supply.
Low-cost thermal energy storage (TES) exists but relies on expensive
heat engines. Here, we introduce the concept of luminescent solar
power (LSP), where sunlight is absorbed in a photoluminescent (PL)
absorber, followed by red-shifted PL emission matched to an adjacent
PV cell’s band edge. This way the PV cell operates nearly as
efficiently as under direct illumination but with minimal excessive
heat. The PL absorber temperature rises because of thermalization,
allowing it to store the excessive heat, which can later be converted
into electricity. Tailored luminescent materials that support an additional
1.5 kW h PV electricity for every 1 kW h of (virtual) heat engine
electricity with a dynamic shift between the two sources are experimentally
demonstrated. Such an ideal hybrid system may lead to a potential
reduction in the cost of electricity for a base-load solution.