Department of Energy supports solar technology with new funding

Friday, September 2, 2011 @ 11:09 AM
posted by rene5432

The Department of Energy has unveiled more than $145 million in funding for advanced solar technologies under the SunShot Initiative, a federal program designed to make solar energy systems more cost-competitive and reduce the price of these systems by 75 percent by 2020.

According to Energy Secretary Steven Chu, the funds will support 69 projects in 24 states that are working to research and develop cutting-edge systems that also have increased efficiency and power costs. The money will also help to ensure the United States' place as one of the global solar energy leaders.

"America is in a world race to produce cost-competitive renewable energy that can reduce our reliance on fossil fuels, create manufacturing jobs across the nation and improve our energy security," said Secretary Chu in a statement.

The most recent SunShot Initiative funds will go to projects working in several areas, including solar energy grid integration, transformational photovoltaic technology, and balancing hardware cost reductions.

The DOE's Energy Efficiency and Renewable Energy office also works to support federal initiatives in the field of wind, water, biomass, geothermal and hydrogen energy.

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