The achievement of the goals of the European energy and climate change policy necessitates the development and deployment of a diverse portfolio of low carbon energy technologies. In 2010, photovoltaic (PV) technology was the leading renewable energy technology in terms of capacity growth in Europe. But for reaching the main sectorial target: “up to 15% of the EU electricity will be generated by solar energy in 2020” it is a pre-requisite to achieve the substantial reduction of costs and the improvement of device efficiencies.Recent developments in PV worldwide business are showing that other global economies are fiercely fighting to take over EU leadership in the production of the PV products as well as technology. EU could maintain a competitive position due to introduction of new cost-effective photovoltaic technologies underpinned by strong RTD efforts allowing European companies to develop innovative knowledge intensive solutions through whole supply chain to capture market share.The biggest influences on the cost effectiveness of the conversion of cells to modules are the optimisation of cell efficiency and material consumption and the optimisation of the combined module manufacturing and installation cost.The proposed project aims to bring the innovative photovoltaic technology enabling achievement of 0,67 €/W cost target in next two years. To achieve this goal proposers will develop innovative concepts for key components of PV system, prototype and test the stationary low concentrating photovoltaic module of novel design. The proposed solutions enable higher conversion efficiency and 5-fold reduction of active material – both leading to significant cost/performance, resulting more than 20% reduction of the Watt-peak. By creating a non-competitive supply chain within the consortium the SME partners will be able to use the new technology developed to secure their competitive advantage in PV markets and over 10 year’s period make a cumulative profit of about 27 M€.