Solar energy is widely considered as the best choice to replace the traditional fossil energy in 21st century, as one of the renewable “green” energy sources. Recent progresses of photovoltaic (PV) electric power generation, including solar cells, related optics, and industrial trends in the world and China, are reviewed briefly. Viewing the technology progress of the world, it may be concluded that the coming ten and more years will be an important period for both PV technology and industry. It is expected that PV power will become main force of the power grid by 2020, superior to the traditional technologies. It is recognized that the technology of high efficiency multiple junction solar cells based on Ⅲ-Ⅴ compound semiconductors, coordinated with high concentration optics concentrating photovoltaics (CPV), is one of the major directions.