Yup, that would work as the higher up the panels are, the earlier they would catch the sunrise and the later they'd enter darkness. Sad to say, though, I believe the tower would have to be several hundred miles tall to really make a difference. For the hassle, I'd be looking for more sunshine than just, say, three or four minutes more per day from a tower in the couple-thousand foot range. (Sorry, I forget the exact formula to get more accurate numbers.)
The best part, though, is that here in New England a several hundred mile tall tower would go through the jet stream for much of the year. What a platform for some "lower level" wind turbines as well! ;-)
Craig