Development of low cost solar cells fabrication technology is being sponsored by NASA JPL as part of the Low Cost Solar Array Project (LSA). In conformance to Project requirements ion implantation and laser annealing were evaluated as junction formation techniques offering low cost-high throughput potential. Properties of cells fabricated utilizing this technology were analyzed by electrical, transmission electron microscopy, Rutherford backscattering and secondary ion mass spectrometry techniques. Tests indicated the laser annealed substrates to be damage free and electrically active. Similar analysis of ion implanted furnace annealed substrates revealed the presence of residual defects in the form of dislocation lines and loops with substantial impurity redistribution evident for some anneal temperature/time regimes. Fabricated laser annealed cells exhibited improved spectral response and conversion efficiency in comparison to furnace annealed cells. An economic projection for LSA indicates a potential for considerable savings from laser annealing technology.