Quantcast

U.S. Solar Prices More Than 60 Percent Ahead of Government's Cost-Competitive Goal

Business

In just three years, the U.S. solar industry is more than 60 percent of the way to achieving what the Department of Energy (DOE) deems as "cost-competitive, utility-scale solar photovoltaic (PV) electricity."

The DOE launched its SunShot Initiative in 2011, partnering with industry groups, universities, local communities and federal laboratories to drive innovation and lower the cost of solar energy. The set target was $0.06 per kilowatt-hour (kWh) by 2020. The DOE reports that the average utility-scale PV project price dropped from about $0.21 per kWh in 2010 to $0.11 per kWh by the end of 2013.

By comparison, the Energy Information Administration says the average U.S. electricity price is about $0.12 per kWh.

Graphic credit: National Renewable Energy Lab

“In just the last few years, the U.S. has seen remarkable increases in clean and renewable energy—doubling the amount of energy that we produce from solar and wind and supporting a strong, competitive solar supply chain that employs American workers in every state,” said Energy Secretary Ernest Moniz. “To continue this growth and position the U.S. as a global leader in clean energy innovation, the Energy Department is helping to advance new technologies that further reduce costs, improve performance and support new jobs and businesses across the country.”

The DOE has also announced $25 million in new funding to further boost domestic solar manufacturing and the commercialization of PV technologies.

During President Barack Obama’s first term, the country more than doubled the generation of renewable sources, with installed solar capacity growing from 1.2 gigawatts in 2008 to an estimated 13 today.

Visit EcoWatch’s RENEWABLES page for more related news on this topic.

EcoWatch Daily Newsletter

Tesla co-founder and CEO Elon Musk discusses vehicle dimensions in front of the newly unveiled all-electric battery-powered Tesla Cybertruck at Tesla Design Center in Hawthorne, California on Nov. 21. FREDERIC J. BROWN / AFP via Getty Images

Tesla just unveiled its first electric truck.

CEO Elon Musk showed off the new design at a launch event at the company's Design Studio in Hawthorne, California Thursday.

Read More Show Less
A video shows a woman rescuing a koala from Australia's wildfires. VOA News / YouTube screenshot

More than 350 koalas may have died in the wildfires raging near the Australian town of Port Macquarie in New South Wales, but one got a chance at survival after a woman risked her life to carry him to safety.

Read More Show Less
Sponsored
This study found evidence of illegal hammerhead fins in 46 out of 46 sampling events in Hong Kong. NOAA / Teachers at Sea Program

By Jason Bittel

Authorities in Hong Kong intercepted some questionable cargo three years ago — a rather large shipment of shark fins that had originated in Panama. Shark fins are a hot commodity among some Asian communities for their use in soup, and most species are legally consumed in Hong Kong, but certain species are banned from international trade due to their extinction risk. And wouldn't you know it: this confiscated shipment contained nearly a ton of illegal hammerhead fins.

Read More Show Less
Heat waves emanate from the exhaust pipe of a city transit bus as it passes an American flag hung on the Los Angeles County Hall of Justice on April 25, 2013. David McNew / Getty Images

Air pollution rules aren't doing enough to protect Americans, finds a major new study that examined the cause of death for 4.5 million veterans, as The Guardian reported.

Read More Show Less
Coldplay playing at Stade de France in Paris in July 2017. Raph_PH / Wikipedia / CC BY 2.0

Coldplay is releasing a new album on Friday, but the release will not be followed by a world tour.

Read More Show Less