In cooperation with the National Renewable Energy Lab, RF Micro Devices soon will develop a new generation of solar cells that produces far more energy than today's solar panels.

"I think this is a huge deal. I saw an article that said it was a monster deal," said Jerry Neal, one of RF's founders.

RF remains the world's No. 1 maker for cell phone components, and the company's move into green energy isn't so much a new line of business as it is using existing technology in a clever way to benefit the public.

"The machinery is exactly what we've been using for years," Neal explains. "They same technology that we use to make communication chips, we're able -- without any modification to the equipment -- to operate it in a different way that will make a state-of-the-art photovotaic cell."

According to Neal, the new photovotaic cell will be able to convert about 40 percent of the sunlight that hits it, which is twice the efficiency of current solar cells.

"For the first time, we've been able to demonstrate something that has not been done by any other company. And, for the future, this could have huge applications for consumers in renewable energy and in low-cost energy," says Neal.

RF said it hopes to begin manufacturing the new cells by 2012.