US Energy Secretary Steven Chu revealed that the US Department of Energy (DOE) will be investing US$60 million over a three-year period for the application of scientific research in CSP technologies. The investment is part of the DOE’s SunShot Initiative, which aims to reduce the cost of solar energy by 75% and make it more cost competitive with other energy forms by the end of the decade.
The DOE plans to make its investment in technologies that have a strong potential to increase efficiency, lower costs and deliver more reliable performance than current commercial and near-commercial CSP systems. It is anticipated that the government agency will fund between 20 and 22 projects from industry, university and national laboratories.
“Our nation is in a global race to produce cost-competitive renewable energy that can create manufacturing jobs, cut our reliance on fossil fuels, and reduce carbon emissions,” said Secretary Chu. “The funding announced today through the SunShot Initiative will help unleash the vast potential of solar energy to diversify our energy portfolio, create clean energy jobs, and re-establish US global leadership in this fast growing industry.”
Overall the SunShot CSP noted that the funding is looking to help develop new concepts that could lead to performance breakthroughs such as improving efficiency and temperature ranges while also promoting new approaches to the design of collectors, receivers and power cycle equipment used in CSP systems.
More information about the opportunity for funding can be found here.