A subsidiary of the Chicago-based Boeing Company has developed the world’s most efficient solar power cell.

The Department of Energy confirms the cell converts about 42 percent of the sunlight it absorbs into electricity.

That’s more than twice as efficient as many solar cells in use today.

David Lillington is the president of Spectrolab, which engineered the technology.

LILLINGTON: If you imagine a … magnifying lens pointed at the sun and focused on a piece of paper, the paper will burn because of the high concentration of energy.  What our cell does is … converts that energy into electricity.

Lillington says the cells would primarily be used in large solar farms.

He says they’re more expensive than current technology, but would be cheaper in the long run.

He says the cells could go into production as soon as next year.