Current panel efficiency is at roughly 22%. A 34% efficient panel would increase current solar generation to 133% just by replacing current panels. That's much easier then building new solar generation plants. This would move the "total energy produced Earth by solar" amount from the current 5.5% to 7.35%
That's a pretty stunning improvement for a comparably easy lift.
Oh no doubt it's a massive improvement. It's just we can see even better numbers and for cheaper once we crack the materials and lithographic constraints of rectenna diode construction. Mass production of those babies would be revolutionary in terms of solar energy. It'd straight up outcompete fossil and nuclear even considering having to build energy storage. Hell it'd be revolutionary even if we make them just for the infrared wavelength.