Solar, Storage

DOE to Invest $12.4 Million in Renewable Energy Development

The U.S. Department of Energy (DOE) announced that it plans to invest $5.2 million in funding to support the development of low-cost Concentrating Solar Power (CSP). DOE will also make available a Technology Commercialization Development Fund (TCDF) of up to $7.2 million to three of DOE’s National Laboratories to support commercialization of renewable energy technologies.

The 12 CSP projects under consideration by the DOE aim to develop technology that dramatically reduces the cost of CSP power and emphasizes the development of storage technologies. Specifically, CSP project goals include reducing the cost of solar power to be regularly available at less 10 cents/kWh by 2015.

“Under the President’s leadership, DOE is not only supporting research and development of clean energy technologies, but is accelerating their commercialization to a rate and scale necessary to meet growing energy demand and combat climate change,” Assistant DOE Secretary Andy Karsner said. “Our National Laboratories lead the world in energy innovation and DOE is now giving them the support to commercialize their innovations.”