The hybrid (organo-inorganic) lead-halide perovskites revolutionized the field of solar cell research due to the impressive power conversion efficiencies of up to 21% recently reported in perovskite based solar cells. This talk will present first the general concepts of excitonic photovoltaics, as compared to conventional Si-type solar cells, asking a question: is hybrid perovskite PV an excitonic solar cell or not? Then I will show our recent experimental results on the fast spectroscopy of excitons, magnetic field effect on generation of correlated (e-h) pairs. Also will discuss our Hall effect results, that allows to evaluate intrinsic charge carrier transport and direct measurements of mobility in these materials performed for the first time in steady-state dc transport regime. From these measurements, we have obtained the electron-hole recombination coefficient, the carrier diffusion length and lifetime. Our main results include the intrinsic Hall carrier mobility reaching up to 60 cm2V-1s-1 in perovskite single crystals, carrier lifetimes of up to 3 ms (surprisingly too long!), and carrier diffusion lengths as long as 650 m (huge if compared to organic and even best inorganic materials). Our results also demonstrate that photocarrier recombination in these disordered solution-processed perovskites is as weak as in the best (high-purity single crystals) of conventional direct-band inorganic semiconductors. Moreover, as we show in our experiment, carrier trapping in perovskites is also strongly supressed, which accounts for such long carrier lifetimes and diffusion lengths, significantly longer than similar parameters in the best inorganic semiconductors, such e.g. as GaAs. All these remarkable transport properties of hybrid perovskites need to be understood from fundamental physics point of view. Looks like we need some new concepts to explain the mysterious properties of hybrid perovskites. We suggest that some of this unusual properties can be attributed to a special type of “dipole rotational polaron” formed in their lattice due to interactions of charge with methyl-ammonium organic dipoles, each of 2.3 Debye. I will try to challenge the audience to think about other possible explanations, since I believe that superior behaviour can be explained only by introducing new physical concepts, such as solitons/kinks and bipolarons (in conducting polymers), Cooper pairs in superconductors or vortices in type 2 superconductors, as another example.