"Strong current flow" is informal language, but both it and photoresponse refer to the electrical power that comes out. In theory you would just divide that by the incoming solar flux and get the efficiency. For now it's only in a lab setting, though, so we'll have to see what the practical efficiency will be if this is actually incorporated into a reasonable solar cell.
So yeah, apparently barium titanate solar panels used to be extremely terrible, and now they might become competitive with further research.
It's a 1000 times improvement the same way riding a horse is a 1000 times improvement over riding an army of snails. It's possible because nobody was doing the old thing because it was garbage.