The US Department of Energy (DOE) announced that it will invest $168 million in 13 solar tech projects over the next three years. DOE is pushing to meet a goal of increasing the amount of of photovoltaic solar power capacity from 240 megawatts today to 2,850 megawatts by 2010. Increasing capacity means a decrease in cost per kilowatt-hour from the current cost of $.18 – $.23 to $.05-$.10 per kilowatt hour, which would then make solar power competitive with fossil fuels.
The following companies are getting the funding: Konarka, Solar Power, BP Solar, Miasole, Nanosolar, United Solar Ovonic, Practical Instruments, Amonix, Boeing, Dow Chemical, General Electric, Greenray, Powerlight, and SunPower. Funding is being directed at companies that produce thin-film solar cells (Nanosolar, BP Solar, Miasole, United Solar Ovonic), and concentrating photovoltaic systems.