Yes! Says a new Start-up based in Silicon Valley called "SUNRGI". They've developed a "concentrated photovoltaic" system that uses lenses that magnify sunlight 2000 times. This smaller system will produce as much electricity as standard sized panels.
Long story short-they aim to have this system producing electricity at 7 cents a kilowatt hour and that will include installation! SUNRGI plans to debut the lens based system in mid 2009.
Here's the rest of the story by Paul Davidson at USA Today.