The most near-term, cost-effective solar solution is undoubtedly solar thermal. While photovoltaics, which convert light directly into electricity, can have a significantly smaller footprint and higher efficiency...solar thermal has generally proven that it can create electricity at a lower cost.
With that in mind, the U.S. Department of Energy has decided to spend $60 million over the next five years developing low-cost concentrating solar thermal technology and "advanced thermal storage." They plan on making between 10 and 20 awards to industry and universities working on increasing the efficiency and decreasing the costs of solar thermal power.
Via Cleantech