Bush Admin to Offer US$170 Million for Solar EnergyPublished by MAC on 2006-06-29
Bush Admin to Offer US$170 Million for Solar Energy
29th June 2006
WASHINGTON - The Bush administration said on Wednesday it would offer US$170 million to public and private partnerships to make solar energy more competitive with conventional electricity sources by 2015.
The funding would be for three years, beginning in fiscal-year 2007. It would require industry-led teams to match each dollar the government gives them toward the project, which could generate an additional US$170 million.
The US Energy Department said projects would need to focus on improving so-called photovoltaic cell technology which produces energy when exposed to light.
"We will be asking the winning partnerships to focus their work on new manufacturing techniques as well as new component designs that will allow us to bring down the cost of producing photovoltaic fuel cells as quickly as possible," said US Energy Secretary Sam Bodman.
US Energy Department said the projects are part of the administration's Solar America Initiative which seeks in part to reduce photovoltaic costs from 13-22 cents per kilowatt to 9-18 cents per kilowatt by 2010.
The US$170 million contribution by the administration is subject to funding from Congress.
REUTERS NEWS SERVICE