DOE to Invest up to $13.7 Million for Breakthrough Solar Energy Projects
March 12, 2008
The U.S. Department of Energy (DOE) will invest up to $13.7 million, over three years (Fiscal Years 2008–2010), for 11 university-led projects that will focus on developing advanced solar photovoltaic (PV) technology manufacturing processes and products. These projects are integral to President Bush’s Solar America Initiative, which aims to make solar energy cost-competitive with conventional forms of electricity by 2015. Combined with a minimum university and industry cost share of 20%, up to $17.4 million will be invested in these projects.
Universities selected for these projects will leverage fundamental understanding of materials and PV devices to help industry partners advance manufacturing processes and products. These projects have the potential to significantly reduce the cost of electricity produced by PV from current levels of $0.18–$0.23 per kilowatt-hour (kWh) to $0.05–$0.10 per kWh by 2015—a price that is competitive in markets nationwide. Each university will work closely with an industry partner to ensure the projects retain a commercialization focus and that results are quickly transitioned into market ready-products and manufacturing processes.