PhysOrg has an article on the latest solar cell efficiency record - World record solar cell with 44.7% efficiency.
German Fraunhofer Institute for Solar Energy Systems, Soitec, CEA-Leti and the Helmholtz Center Berlin announced today that they have achieved a new world record for the conversion of sunlight into electricity using a new solar cell structure with four solar subcells. Surpassing competition after only over three years of research, and entering the roadmap at world class level, a new record efficiency of 44.7% was measured at a concentration of 297 suns. This indicates that 44.7% of the solar spectrum's energy, from ultraviolet through to the infrared, is converted into electrical energy. This is a major step towards reducing further the costs of solar electricity and continues to pave the way to the 50% efficiency roadmap.