GreenSun Energy, based in Jerusalem, is working on making solar panels more efficient and also in a variety of colours. The company has developed a technology that can improve the efficiency of their products by up to 20% and at the same time reduce the cost to $0.94 per watt.
The products are based on CPV (concentration of photovoltaics) where the company concentrates visible and UV light without concentrating the heat which reduces the performance of the attached solar cells. GreenSun solar panels are 20% silicon and have a conversion efficiency rate of up to 20%. The different colours on the panels capture different parts of the sun's light spectrum and do not require direct sunlight in order to produce electricity, according to the company. When sunlight hits the solar panel it is diffused to the edges which are covered with silicon solar receptors.

Source: GreenSun
The GreenSun panel only captures visible light, thus reducing heat pressure on the solar panel and eliminating the need for a cooling mechanism. Standard solar panels require separate cooling mechanisms because they capture all forms of light and thus generate unnecessary heat. GreenSun are hoping to have their coloured solar panels on the market in the not too distant future.
Top image source: GreenSun Energy
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