A holographic device has been developed that greatly improves the efficiency of solar energy conversion. The single-element hologram focuses light, spectrally splits it and diverts unwanted infrared heat away from the solar cells. The output appears as a thin concentrated line, focused perpendicular to the hologram and displaced to the side. Solar cells are placed along this line such that each cell absorbs only the wavelengths which it can efficiently convert to electric power. The theoretical and experimental development of this system are discussed, as well as its application in space and on Earth. The system is excellent for space applications since the holograms are single element, very lightweight, and require minimal cooling. For terrestrial purposes, the projected costs of the system are nearly a factor of two lower per kWh than other solar concentrator systems; thus it is competitive with conventional power generation systems. Other state of the art holographic solar power generation systems are also discussed.