Americans have become increasingly familiar with the concept of smart grid technology, which gives utilities and consumers more advanced ways than ever to manage their electricity use.

However, the coming years may also see the widespread introduction of "smart panels," judging from one company's recent announcement.

According to National Semiconductor Corp., it has developed a new chipset aimed at maximizing solar panel performance even against common factors like aging equipment and locations with more shade.

The new technology is to be demonstrated at the Intersolar Europe event in Munich, Germany later this month.

"National Semiconductor has been embedded in the solar industry since its inception. Already, our power management electronics are used in nearly two-thirds of the inverter and junction box market and we currently have more than 100 MW of solar systems under SolarMagic monitoring and management," said company executive Mike Polacek.

Other companies have also been working to improve the efficiency of solar panels. For example, tracking technology that allows photovoltaic panels to move across the sky with the sun have become increasingly common in both home and utility-scale solar projects.