By using dedicated systems, whether based on cyanobacteria, plants, or artificial components it is capable of reaching 10% efficiency of solar energy conversion. This would enable enough energy and fuel to be produced for a large part of the planet's needs without causing significant loss of space for food production.
A future aim therefore is to build an artificial leaf-like system comprised of self-assembling nanodevices that are capable of regenerating themselves – just as in real plants or cyanobacteria. "Fundamental breakthroughs in these directions are expected on a time scale of 10 to 20 years and are recognized by the international science community as major milestones on the road to a renewable fuel," said Aro.
Original text http://www.sciencedaily.com/releases/2008/08/080825092353.htm