When I reported that solar cells are now 40% efficient, little did I realize how much it really meant to the world. Last week, a huge number of industry experts, research and development participants, and renewable energy advocates came out to say that man has achieved a milestone. Yes, a 40% light to energy conversion is a milestone and right now is something short of a miracle.

That development from Boeing signifies the next wave of solar cell use, which in simpler words means that more of the sun's rays can be converted into electricity, a form that is useful for industries and homes. Just think the future of solar cells is expanded use and even continued increase in energy conversion. That means less dependence on fossil-fuel based power generation, cleaner air, wider areas of application, a whole revolution! And with crystalline prices going down due to improved production efficiencies, it wouldn't be long until that price of the stock of the local solar utility rockets up to the sun! That's how bright the future is for solar energy these days.

In addition, President George W. Bush's $148 Million Solar America Initiative is working on making solar energy cost effective on its own by 2015 or translated to a kilowatt hour cost between 5 and 10 cents. Learn more here.