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This lecture covers the fundamentals of photovoltaics, including the photovoltaic effect discovered by Edmund Becquerel in 1839, the absorption process in semiconductors, bandgap optimization for spectral efficiency, electron-hole pair separation in solar cells, and the Shockley-Queisser limit. It also discusses the efficiency factors such as fill-factor, open-circuit voltage, and short-circuit current, as well as practical and theoretical efficiency limits. The lecture concludes with advanced topics like multijunction solar cells and the availability of materials for photovoltaics.