Chu Announces Funding for SunShot Solar Projects
“Expanding the U.S. solar energy industry is an important part of the Administration’s goals to diversify our electricity supplyand rebuild America’s manufacturing base to create jobs now and in thefuture,” said Secretary Chu. “The SunShot Initiative will not only keepthe United States at the forefront in solar energy research anddevelopment, but will help us win the worldwide race to build a solarmanufacturing industry that produces solar systems that are costcompetitive with fossil fuels.”
In recent years, the U.S. has rapidly lost ground in terms of total investment in clean energy. China-based solar-panelmanufacturers, in particular, have made headway thanks in part togovernment-backed loans.
In addition to federal tax credits available to to homeowners andbusinesses that install solar energy systems, the U.S. is aiming topromote cost efficiencies in the solar manufacturing process. As part of the SunShot Initiative, funding will be made available over five years to a number of companies, including:
- Bay Area PV Consortium (Stanford, CA) – $25 million for University-Focused Development
- SVTC Technologies (San Jose, CA) – $25 million for Industry-Focused Development
- U.S. Photovoltaic Manufacturing Consortium (Albany, NY and Palm Bay, FL) – $62.5 million for Industry-Focused Development
See the SunShot wesbite for more info.
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