A photovoltaic (PV) cell achieved a milestone earlier this week with a conversion efficiency of 40.7 percent. Produced by Spectrolab, Inc. -- a wholly owned subsidiary of Boeing -- and funded in part by the U.S. Department of Energy (DOE), the breakthrough could lead to PV systems with an installed cost of $3 per watt and produce electricity at a cost of $0.08 to $0.10 cents per kilowatt-hour.

"The excellent performance of these materials hints at still higher efficiency in future solar cells." -- Dr. Richard R. King, Spectrolab, principal investigator