U.S. Energy Secretary Steven Chu has announced additional details of the Department of Energy’s (DOE) “SunShot” initiative to reduce the total costs of photovoltaic (PV) solar energy systems by about 75% so that they are cost competitive on a large scale with other forms of energy without subsidies before the end of the decade. By reducing the cost for utility-scale installations by about 75% to roughly $1 a watt-which would correspond to roughly $0.06/kilowatt-hour-solar energy systems could be broadly deployed across the country.

This will increase American economic competitiveness and help the country regain leadership in the global market for solar PVs. As part of the SunShot initiative, Chu announced that the Doe is awarding $27 million in projects to support the development, commercialization, and manufacturing of advanced solar energy technologies.

For additional details, visit http://www1.eere.energy.gov/solar/sunshot.