![]() |
|
| News Media Contact(s): Craig Stevens, (202) 586-4940 |
For Immediate Release October 12, 2006 |
| Energy Secretary Announces $13 Million to Expand Solar Energy Technologies | |
| ST. LOUIS, MO - U.S. Department of Energy (DOE) Secretary Samuel W. Bodman today announced more than $13 million to fund new research in solar technologies. This funding, part of President Bush's $148 million Solar America Initiative, will support the development of more efficient solar panels, known as photovoltaic devices.
"This investment is a major step in our mission to bring clean, renewable solar power to the nation," Secretary Bodman said. "If we are able to harness more of the sun's power and use it to provide energy to homes and businesses, we can increase our energy diversity and strengthen our nation's energy security." A pillar of President Bush's Advanced Energy Initiative, the Solar America Initiative aims to make solar power cost competitive with conventional electricity sources by 2015, by developing materials that convert sunlight directly to electricity. In his 2006 State of the Union address, President Bush announced the Advanced Energy Initiative (AEI), which seeks to reduce our dependence on foreign sources of energy. To achieve this objective, the AEI includes a 22-percent increase in funding for clean energy technology research at DOE. The President's FY 2007 $148 million request for the Solar America Initiative is a $65 million (78%) increase over the current appropriation, to accelerate the development of semiconductor materials that convert sunlight directly to electricity. The $13 million in funding, including about $4.5 million to be awarded for Fiscal Year 2007, will support a number of projects, including:
More information on the solicitation and facts about the Solar America Initiative can be found at: http://www1.eere.energy.gov/solar/solar%5Famerica/. In addition to the President's goal of reducing our dependence on foreign oil through AEI, the Energy Policy Act of 2005 (EPAct), signed by the President nearly a year ago, provides incentives for purchasing and using solar equipment equal to 30 percent of qualifying expenditures for purchase of commercial solar installations, with no cap on the total credit allowed. EPAct also provides a 30 percent tax credit for qualified PV property and solar water heating property used exclusively for purposes other than heating swimming pools and hot tubs. Private property owners are allowed a credit up to $2,000 for either property, with a maximum of $4,000 allowed, if both photovoltaic and solar hot water properties are installed. |
|
| U.S. Department of Energy, Office of Public Affairs, Washington, D.C. | |