Retrolefty - you definitely 'got' the story.
Assuming the mechanical setup is appropriate, I would add ...
A simple time clock-based approach, moving a solar collector only once per hour, is never going to be more than +/-7.5 degrees misaligned East/West.
If it were moved every 12 minutes (1/5th of an hour), the error would be less than +/-1.5 degrees.
The loss of efficiency due to a solar panel being misaligned by 1.5degrees is likely to be small, and maybe less than the variability of solar panels (I'd drive my calculation about how often to move the panel from that sort of number)
North/South misalignment only needs to be fixed once/day, at most, using a calendar (assuming the axis of East/West rotation is the thing being adjusted, like a telescope equatorial mount).
It would probably be quite difficult to make a sun-light-sensitive tracking system which yields noticeably better results.
I agree steppers, and end stop sensors would be good. Highly geared little DC motors with encoders would probably be fine with this sort of duty cycle.
As PaulS said, we need to understand a bit more about the size and nature of the solar panel.
PS - According to http://en.wikipedia.org/wiki/Diurnal_motion
a Sun diameter is moved every 2 minutes.