DOE to Invest US $13.7 Million in Solar

The U.S. Department of Energy (DOE) has announced that it will invest up to US $13.7 million for 11 university-led projects that will focus on developing advanced solar photovoltaic (PV) technology, manufacturing processes and products. Combined with a minimum university and solar industry cost share of 20 percent, up to US $17.4 million will be invested in these projects.

These projects have the potential to significantly reduce the cost of electricity produced by PV from current levels of US $0.18 – $0.23 per kilowatt-hour (kWh) to US $0.05 – $0.10 per kWh by 2015, according to DOE. Each university will work with an industry partner to ensure the projects retain a commercialization focus and that results can be transitioned into market ready-products and manufacturing processes.

“Harnessing the natural and abundant power of the sun and more cost-effectively converting it into energy has enormous potential to help reduce greenhouse gas emissions and provide greater stability in electricity costs,” DOE Assistant Secretary for Energy Efficiency and Renewable Energy Alexander Karsner said. “These projects will not only bolster innovation in photovoltaic technology, but they will help meet the President’s goal of making clean and renewable solar power commercially viable by 2015.”

The schools selected include, Arizona State University, California Institute of Technology, Georgia Institute of Technology, Massachusetts Institute of Technology, North Carolina State University, Pennsylvania State University, University of Delaware, University of Florida and University of Toledo.

For more information about the selected projects including investment figures and corporate sponsors, click here.

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