The Department of Energy has decided to invest $60 million over the next three years in research related to develop new Concentrating Solar Power technologies. The department is encouraging industry, national laboratories, and academic institutions to apply for the funding and is expecting to fund about 20 different projects.
The investment will help the nation reach its goal of reducing the cost of solar energy by 70 percent by the end of the decade, which will make it more cost competitive with other forms of energy. Here are some facts about solar power in the U.S. and the steps the DOE has taken to support solar power development.
* National Geographic reported the use of solar power has increased at a rate of about 20 percent per year over the past 15 years due to better and more efficient technology and falling prices for materials.
* Solar power is completely pollution-free and noise-free, making it preferable over other forms of energy. It can also be applied in a variety of different locations, from rural to urban and on small scales and larger scales as well.
* Despite this growth, solar power still only accounts for less than 1 percent of electricity used in the United States, with California being the leading solar state in the country, according to a recent article from the New York Times.
* The potential for solar power production is highest in the Southwest, including southern California, Arizona, New Mexico, Colorado, southern Nevada, Utah and Texas.
* The $787 billion economic stimulus package signed by President Barack Obama in early 2009 allowed homeowners to redeem federal tax credit worth 30 percent of the cost for their new solar power systems.
* With tax credits from both the federal government and state governments, residential solar power systems can often pay for themselves in about five to ten years.
* The DOE's SunShot Initiative was established in February and under this initiative, the department funds search and loan guarantees for new and cutting-edge technologies.
* Last month Yahoo! News reported the department announced $145 million in funding for 69 projects in 24 states to develop more efficient solar power technologies and reducing market barriers.
* Numerous universities have already received DOE funding, including Stanford University, Georgia Tech, Illinois State University and University of Wisconsin-Madison.
* Efforts to further develop solar power technologies in the U.S. have also helped create job while reducing the nation's dependence on fossil fuels.
Rachel Bogart provides an in-depth look at current environmental issues and local Chicago news stories. As a college student from the Chicago suburbs pursuing two science degrees, she applies her knowledge and passion to both topics to garner further public awareness.
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