We have developed heterojunction interdigitated back contact solar cell with conversion efficiency of 26.6% (designated area: 180 cm²) independently confirmed by Fraunhofer Institute for Solar Energysystem Callab. Compared to our previous record efficiency (26.3%), the 0.3% absolute improvement can be regarded as ~10% reduction of remaining losses to the theoretical limit (~ 29%). We discuss the analyzed cell properties together with our recent progress to predict how far we can go in reducing the remaining losses in silicon photovoltaic.