Looks a lot like the stuff developed at Solar Systems in Australia nearly 20 years ago ... been installed for 15 years in the outback ..
www.solarsystems.com.au

This is nothing new. Indeed, this concept has been around for fifty years at least.

This is an interesting technology and may have some place in providing our energy. Still, does requiring 49 square miles (7X7) to replace a single power plant sound like a good idea? How many like that do we want built? A lot of people don't like nuclear, but it sure looks like the best option when you look at all the costs (economic, social, and environmental).

Concept was around since 1939, using solar mirrors to generate steam driven power in the deserts of Egypt. Using salt based heat stores electricity can be generated over 24 hours with a solar concentrator using mirrors rather than just during daylight hours with the system mentioned. It is energy storage which is the biggest problem not the photovoltaic cells.
Also read Desertec - Energy for Everybody by Margaret Heckel. One of the best kept secrets of the energy industry is that it is actually far far cheaper to generate solar electricity in the desert and supply it to the north than by gas/coal/nuclear or photovoltaic panels. True also especially for the US which does not have security issues having plenty of its own desert areas ideal for generating electricity withing its borders.
see: http://www.desertec.org/

Even the high efficiency solar cells are cost prohibitive. Run the light through a cube of fresnel lenses (external mirrors redirect the light at 90 degree angles) Use Freon misters within the cube to abosrb the amibient heat. Use the concentrated light to power a stirling engine. 40% yield at a fraction of the current cost. barbour@aai.textron.com

2.5kw from 20sq yards at 1kw/yard solar input is only 12.5% eff.
Not much here worth much as better systems are already in place.
Why would one waste the heat. Gathering and using the waste heat would increase eff several more x's.
Making a steam/Rankine engine with a small heat storage plus using waste heat could make 25% eff electric and 75% eff overall, soundly beating this.

1) solar thermal needs water and operates far more efficiently at scale than any other method.
2) concentrated pv is good ONLY because pv cells are too expensive and this is a method to make pv cheaper
3) pv can be distributed right near you house as opposed to solar thermal---electric-- which operates mostly at scales requiring large turbines to create the electricity
4) if this system is creating a lot of waste heat, they can power a small waste heat turbine to capture it , and use the runoff for heating homes. perhaps the mirrors can be foccussed to temporarily heat small amount of aluminum side panels of a house to capture and store the heat for home heating prior to focussing on the solar cells for generating electricity. extra heat could very well be used to process sewage and garbage on site by pyrolysing it. biomass could also use this heat for pyrolisis thus creating a source of biochar/fuel for other purposes/rainy days.
----it is a fact that the majority of energy we utilize winds up as waste heat rather than work.
5)----the idea of using pv cells for large central 'farms' in the dessert is decades away because it will not be economical anytime soon. SPENDING money on this , rather than on funding new designs and basic research---is a waste. thus, only private investors should risk these ventures, as opposed to government, that socializes the cost of wasteful investment.
6) technology in the are of pv's and mirrors and heat management are progressing rapidly . people are impatient but within a few decades or a hundred more years there will truly be a revolution in the economics of solar power, namely because once installed, these systems require far less labor to maintain--particularly as both inflation, and the increasing cost of maintaining the aging electricity grid starts leaking into the price of consumer electricity.

If they could make the plant small enough, it could placed as helping cell plants and also use the waste heat to run a solar water heater for buildings and nearby homes. Plenty of roof space on many of these mega box stores.

zevulon, CSP can be done eff in home sizes and where it is most eff, near where it is needed.
PV panels are only $1/wt-$1k/kw retail so hardly expensive anymore if well shopped.

Another challenge with concentrating photovoltaic systems is the need for minimal cloud cover to operate at peak efficiency. The sun no longer acts as a point source to focus onto the cells when there is cloud cover that is diffusing. Not as much an issue in southwest climates but in many areas this has to be considered in the average power the system can generate over time.
I think that the process of exploring this design space with rigor is important so it's great to see universities working to refine these products withteh full life cycle in mind.