Energy Department Declares $53 Million to Cut Solar Power Costs

The Energy Department on October 22 announced in excess of $53 million for 40 innovative research and development plans that aim to drive down the cost of solar energy, tackling key aspects of technology development in order to bring innovative ideas to the market more quickly. The awards will support the development of next generation photovoltaic (PV) solar technologies and advanced manufacturing processes, and address both hardware and non-hardware "soft" costs of solar installation.

To accelerate the development of next generation PV technologies that will further drive down costs, the Energy Department is awarding in excess of $14 million of the backing announced last week to ten research institutions-including the Department's National Renewable Energy Lab and Sandia National Laboratories-to enhance the performance, efficiency, and durability of solar PV devices. The plans will explore a variety of leading-edge solutions, from new high-performance materials to novel techniques for creating more efficient solar cells that cost less to manufacture.

Through its SunShot Incubator program, the Energy Department is also investing in excess of $14 million of the announced backing in 20 small businesses that will develop innovative technologies and services to further drive down hardware and non-hardware costs for solar electric systems. The plans take a number of approaches to decreasing costs, such as creating a software-based solution to quantify risk for solar investors, developing advanced materials and components that maximize efficiency for concentrating solar power (CSP), and identifying ways to eliminate the need for expensive silver in solar cell manufacturing.

And in support of the Clean Energy Manufacturing Initiative, the Energy Department is awarding in excess of $24 million to ten U.S.-based solar manufacturers working to develop and implement innovative technologies that will reduce costs and increase efficiency in manufacturing processes used to make PV and CSP technologies. These investments focus on tackling key cost-contributors such as raw materials, labor-intensive processes, and capital expenses. See the Energy Department news release and the SunShot Initiative website.

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