US govt extends USD 128m in financing to help meet new solar cost target

Mar 26, 2021 11:44 AM ET
  • The United States Division of Energy (DOE) introduced on Thursday it will certainly provide virtually USD 128 million (EUR 108.2 m) in moneying to reduce prices, reinforce efficiency and also step up the deployment of solar power technologies.
US govt extends USD 128m in financing to help meet new solar cost target
Image: http://www.nrel.gov.

The financing should sustain reaching an accelerated goal to drive down the expense of utility-scale solar to USD 0.03 per kWh by 2025 and also USD 0.02/ kWh by 2030 from the current USD 0.046/ kWh. This target, the DOE claims, is essential to attaining President Biden's purpose of having a 100% tidy electrical energy grid by 2035.

PHOTOVOLTAICS

About USD 70 countless the overall financing is set aside for a variety of PV innovations, mostly concerning two products made use of to make solar cells-- perovskites as well as cadmium telluride (CdTe) thin films.

Extra especially, some USD 40 million will certainly go towards the research and development (R&D) of perovskites in 22 projects, consisting of the establishment of a USD-14-million efficiency testing centre. An additional USD 3 million will be awarded in the form of seed resources under a perovskite start-up reward competitors.

At the same time, USD 20 million will certainly be routed towards CdTe thin films, with the National Renewable Energy Laboratory (NREL) establishing a consortium to progress affordable manufacturing methods.

The DOE is also providing USD 7 million as part of a brand-new funding opportunity targeting a boost in the lifetime of silicon-based PV systems from around 30 years to 50 years. This effort ought to reduce the cost of energy and likewise reduce waste.

SOLAR THERMAL POWER

The brand-new funding likewise sustains numerous concentrating solar energy (CSP) projects, with USD 33 million being encompassed enhance the integrity as well as efficiency of such plants, identify brand-new solar applications for industrial procedures and advance long-duration thermal-energy storage devices.

A further USD 25 million will be granted to Sandia National Laboratories in order to build a facility where researchers, programmers and suppliers can evaluate next-generation CSP components and also systems. This should help attain the DOE's 2030 expense target of USD 0.05/ kWp for CSP plants.