A parabolic primary mirror (10) has a concave specular surface (12) that is constructed and positioned to receive solar energy and focus it towards a focal point. A secondary mirror (14) having a convex specular surface (16) is constructed and positioned to receive focused solar energy from the primary mirror and focus it onto an annular receiver (18). The annular receiver (18) may include an annular array of optical elements (100) constructed to receive solar energy from the secondary specular surface (14) and focus it onto a ring of discrete areas. A ring of solar-to-electrical conversion units are positioned on the ring of discrete areas.