Tandem CQD solar cells can in principle reach up to 42% efficiency. The best single-junction solar cells hit a maximum of 31% efficiency.
Sargent is hopeful that in five years solar cells using the graded recombination layer will be integrated into building materials and mobile devices.
Sargent's work has garnered attention because it is amenable to being "painted on" surfaces. The solar cell materials are synthesized in solution which opens up the possibility of making a solution that consists of semiconductor particles dispersed in a solvent in a way analogous to ordinary paint.
Sargent says the application method is simply by coating a solid substrate with the solar cell material, letting the solvent dry and evaporate, which leaves a thin solid film. This all takes place at room temperature under ambient conditions, so the production process is potentially inexpensive, he says. Moreover, the underlying substrate can be flexible and inexpensive as well.
The Nature Photonics paper can be found here: http://www.nature.com/nphoton/journal/v5/n8/full/nphoton.2011.123.html#/access
Sargent took part in a YouTube video to explain the "painted-on" aspect of his work a bit more: http://www.youtube.com/watch?v=kLSARSw2JUQ