Over the past week we've had barely a mention of a new product that could be another revolution for the solar industry. The C7 Tracker, which was announced by SunPower (Nasdaq: SPWRA) (Nasdaq: SPWRB), has been overshadowed by news out of Europe and the economic fallout that may occur. But this could be another step toward generating solar power at extremely competitive costs.

How it works
The reason the C7 Tracker is worth keeping an eye on is that it's a concentrator combined with traditional solar technology. Unlike concentrators with power towers, which bounce the sun's rays to heat oil and run a turbine, the C7 concentrates on a much smaller scale. It bounces the sun's rays onto a small strip of solar cells that very efficiently turn the rays into electricity. For a visual you can see a promotional video on YouTube below.

Fool contributor Travis Hoium owns shares of SunPower and First Solar. You can follow Travis on Twitter at @FlushDrawFool, check out his personal stock holdings or follow his CAPS picks at TMFFlushDraw.

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