I've finally moved into a house with solar power and enjoying the benefits of our star for my power consumption, which is a lot. But Sharp Corporation have just achieved something of a milestone in that they've reached the world's highest solar cell conversion efficiency of 44.4%.
They achieved this by using a concentrator triple-junction compound solar cell. These solar cells, in laymen's terms, use a lens-based concentrator system that focuses sunlight on the cells which in turn, generate electricity. Sharp's huge breakthrough is part of a research and development effort that are a part of the "R&D on Innovate Solar Cells" project which is promoted by Japan's New Energy and Industrial Technology Development Organization (NEDO).
Hopefully this means we'll see a bright future for solar power, which I hope someday powers everything from our smartphones to buildings and houses. You can read some more detailed information at the source.