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In modern society, high-quality material development and a large stable supply are key to perform frontier research and development. However, there are negative issues to address to utilize high-quality resources with a large stable supply for research, such as economic accessibility, commercialization, and so on. One of the cutting-edge research fields, perovskite-related research, usually requires high-quality chemicals with outstanding purity (>99%). We developed an economically feasible PbI2 precursor with around 1/20 cost-down for perovskite/perovskite quantum dots through recrystallization and/or hydrothermal purification. Following the methodology, the quantum dots from both as-prepared and purified PbI2 demonstrated identical photophysical properties, with a photoluminescence quantum yield (PLQY) of 52.61% using the purified PbI2 vs. 45.83% PLQY using commercial PbI2. The role of hydrothermal energy was also checked against the problematic PbI2, and we checked whether the hydrothermal energy could contribute to the hindrance of undesired particle formation in the precursor solution, which enables them to form enlarged grain size from 179 ± 80 to 255 ± 130 nm for higher photoconversion efficiency of perovskite solar cells from 14.77 ± 1.82% to 15.18 ± 1.92%. [ABSTRACT FROM AUTHOR]