According to an article from
Information Week, Boeing-Spectrolab has successfully developed a high-efficiency solar cell with a conversion ratio of 40.7% (sunlight to energy), the highest level ever achieved by any photovoltaic device.

Currently, photovoltaic devices achieve anywhere from 12 to 18 percent sunlight-to-energy conversion efficiency and this breakthrough by the US Department of Energy sponsored activity has been verified by the United States National Energy Laboratory.

With the continued rise in solar energy generation and utilization, this is a welcome and an expected development.