While this is a significant improvement, there are issues to consider about the claim. As shown in the diagram, a Fresnel lens is employed to gather and focus the light onto a standard solar cell. This means the cell itself is not improved as the stories seem to imply, the amount of light is instead increased on the same surface area.

This is like a turbo charger force feeding the engine of your car. Similarly, we force feed the solar cell sunlight. As in the car analogy, if it is done right the gain vs the long term wear is still very desireable.

Furthermore, the Fresnel lens still requires a significant surface area. After you consider the size of the new device, not the cell size, you are looking at a 10x improvement for area required to get the same amount of power. This is actually stated by the company with a comparison of a team logo on a football field to the total size of the field. Remember, the team logo is often the whole end zone.

Blasting a solar cell with high amounts of concentrated light makes them extremely hot, so they are actually floating in water as part of the design!

There is some great innovation here, but there is still one more issue to consider, wear. Solar cells degrade from use over time. increasing the amount of light on the surface of the cell by 800x may cut the life of the cell significantly. We need to watch this technology, because there is incredible potential but I would like to see how long they last vs the cost first.

I hope the claims they are making are at least half true, we would all gain significantly.