SunPower (SPWRA) announced it has broken the world record for full scale solar cell efficiency by producing a cell with a sunlight to electricity conversion of 24.2 percent at its plant in the Philippines. It’s been confirmed by the DOE. Sunpower has increased efficiency by 4 percent over the past 5 years.

“This new world record demonstrates SunPower’s ability to extend our lead in manufacturing the world’s highest efficiency solar cells,” said Bill Mulligan, vice president of technology and development for SunPower. “Our patented and proprietary, high-efficiency solar cell technology drives down the cost of solar energy by increasing the energy production from each solar panel.”

Reprinted with permission from Green Stocks Central