Solar energy has increased dramatically since President Obama began his presidency. Its share of energy linked to our nation’s power grid has grown by 20 times, and solar jobs have increased by 86 percent. All while supporting President Obama’s Climate Action Plan to help cut carbon emissions that contribute to climate change and meet the Clean Power Plan targets. Research supported by the SunShot Initiative aimed at improving technology and making it available to the public has significantly increased the efficiency of these accomplishments.
At tAt the Solar Power International conference on September 16th, Vice-President Joe Biden delivered one of the most significant solar-related research and financing announcements ever to come out, the SunShot Initiative. Biden’s statement included more than $112 million in new solar projects. The funds are available to private companies, universities, non-profit organizations, and national laboratories to help support America in leading the way in clean energy.
Vice President Biden acknowledged the crowd for their contribution to the nation, specifically in fighting the effects of climate change. He also said more Americans than ever are opting for solar energy as the power source for their lives. “We want to give every American a choice, an energy choice on what they want to use, no matter who they are or where they live,” said Vice President Biden. “This isn’t a government mandate – it’s the market working.”
He also emphasized the SunShot mission and the most recent projects, noting that “It’s a simple idea to reduce the cost of solar by another 75 percent by 2020, cut red tape and get next-generation technologies to the market faster, provide technical assistance to cities and households that want to go solar, and create tens of thousands of solar jobs.”
These new initiatives include improving solar hardware degradation rates throughout the system’s life, reducing costs, and decreasing the risk of poor long-run PV performance. Solar power systems that concentrate will tackle technical issues, the national designation, and a technical assistance program can help local governments develop their local solar market. The five teams will compete for this year’s SunShot Prize to cut down the time required for a person to “go solar” from several months to just seven days.
In addition, SunShot is making $50 million available in financing opportunities. One financing program will aim to enhance PV module performance, reliability, manufacture, and advance new PV concepts for the future. The other program will aid in developing innovative solar technologies, tools, and services that will rapidly enter the solar market.
The SunShot Initiative’s funding announcements are part of a broader $120 million pledge to encourage solar energy growth, announced on September 16th. It includes $5 million to 11 states to support local clean energy development via the Department of Energy’s State Energy Program and nearly $8 million in grants from the U.S. Department of Agriculture to encourage clean energy technology for those living in rural areas.