The SunShot Initiative's mission is to make solar energy fully cost-competitive with traditional energy sources before the end of this decade, making this clean renewable energy resource more affordable and accessible to Americans.
The SunShot Initiative vision is to make the total cost of solar energy fully economically-viable for everyday use, so that all Americans will benefit from this clean renewable energy resource.
The SunShot Initiative aims to reduce the total installed cost of solar energy systems to $.06 per kilowatt-hour (kWh) by 2020. Today, SunShot is 60% of its way toward achieving the program's goal, only three years into the program's ten year timeline. Since SunShot's launch in 2011, the average price per kWh of a utility-scale photovoltaic (PV) project has dropped from about $0.21 to $0.11.
Achieving the SunShot Initiative's $.06 per kWh goal would lead to the creation of 390,000 new solar jobs by 2050. Solar energy could meet 14% of U.S. electricity needs by 2030 and 27% by 2050. Meeting the SunShot goal could also substantially mitigate the increased costs of electric power. In the scenarios envisioned by the SunShot Initiative, solar power could decrease costs by up to 14% and save up to $20 billion annually by 2050 while still meeting the nation's carbon-cutting goals.
SunShot supports innovative efforts by private companies, universities, and national laboratories to drive down the cost of solar electricity to the SunShot target by reducing solar technology costs, reducing grid integration costs, and accelerating solar deployment nationwide.