Yeah, I read about this on Slashdot.org. The general consensus seems to be that this either concentrated PV or a misprint.
One of the posts there:
no the article makes a mistake (claiming 120 watts per square inch heheh id love to see that, considering less than a watt of solar power falls on a square inch in direct sunlight) what it should have said (i assume) is 120watts per square meter, which makes sense since they claim 12% efficiency, and 12 % of the 1 KW that falls per square meter in strong sunlight is 120watts.
Link: http://science.slashdot.org/science/05/02/28/1224245.shtml?tid=162&tid=14