An emerging technology that creates more solar energy per square foot than standard photovoltaic panels could expand utilties' interest in solar.

Concentrated PV (CPV) uses mirrors, tracking technology that follows the sun, and high efficiency cells to focus the suns energy. Two leaders in the field -- SolFocus and GreenVolts, recently received additional funding as they attempt to scale up the technology to commercial volumes.

SolFocus, of Mountain View, California, received $63.6 million in its second round of funding, for a grand total of $95 million. The company also opened a European office in solar-friendly spain.

Just up Highway 101 in San Francisco, GreenVolts, which is targeting utility scale solar, raised $10 million in Series A funding.

Look for mid 2008 to 2009 to be a potential breakout year in CPV -- if the technology can live up to its billing. Utilities could invest in solar farms as a way to compliment their existing energy sources in meeting peak demand.