The US Department of Energy (DOE) announced that it intends to “reduce the cost of solar power by 60% over the next 10 years.” Nearly $ 128 million has been allocated to reduce costs, improve power plant productivity and accelerate the adoption of new solar energy conversion technologies.
The ministry’s announcement is part of the Biden administration’s plan to decarbonize the U.S. electricity industry by 2035.
The source quotes an excerpt from the ministry’s statement:
“To achieve this goal in the next 15 years, hundreds of gigawatts of solar energy need to be installed five times faster than it is happening now. To this end, the Department of Energy is cutting the timeline for reaching the 2030 solar cost target by five years, setting a new target to reduce operating costs from 4.6 cents per kilowatt hour (kWh) to 3 cents / kWh to 2025 and 2 cents / kWh by 2030 “.
The aforementioned additional funding is expected to contribute to the development and promotion of materials used to manufacture solar cells. In particular, $ 40 million will be allocated for R&D on perovskites, $ 20 million – for thin CdTe films, $ 7 million – for projects to increase the service life of silicon photovoltaic systems from about 30 to 50 years.
The solar energy sector is currently one of the fastest growing in terms of the number of jobs in the United States. It is expected to become the leading source of green electricity this year.
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