Mixed organic–inorganic halide perovskite solar cells have reached unprecedentedly high efficiency in a short term. Two major challenges in its large-scale deployment is the material instability and hazardous lead waste. Several studies have identified that lead replacement with its other alternatives does not show the similar assurance. In this manuscript, we introduce the concept of recycling of the degraded perovskite film (PbI₂), gaining back the initial optoelectronic properties as the best possible solution to avoid lead waste. The simple recycling procedure allows the utilization of some of the most expensive (fluorine-doped tin oxide), primary energy-consuming (TiO₂), and toxic (Pb) parts of the solar cell, reducing the payback time even further. This addresses the major issues of instability and expensive toxic lead disposal, altogether. We have demonstrated the comparative study of feasibility of recycling in degraded perovskite films deposited by three different standard fabrication routes. Films fabricated via acetate route shows efficient recycling compared to the other routes, i.e., chloride and sequential deposition routes. Moreover, recycling in sequentially deposited films needs further optimization.

For any given technology to be successful, its ability to compete with the other existing technologies is the key. Over the last five years, perovskite solar cells have entered the research spectrum with tremendous market prospects. These cells provide easy and low cost processability and are an efficient alternative to the existing solar cell technologies in the market. In this review article, we first go over the innovation and the scientific findings that have been going on in the field of perovskite solar cells (PSCs) and then present a short case study of perovskite solar cells based on their energy payback time. Our review aims to be comprehensive, considering the cost, the efficiency, and the stability of the PSCs. Later, we suggest areas for improvement in the field, and how the future might be shaped.