Simplifying Solar Project Financing
January 22, 2014
The U.S. solar energy industry is booming. With 930 megawatts of new photovoltaic (PV) capacity installed in the third quarter of last year alone, 2013 proved to be the biggest year for solar yet. Total installed solar energy capacity now stands at a staggering 10.2 gigawatts, enough to power more than 1.7 million average American homes.
The Energy Department's SunShot Initiative, partnering with national laboratories and industry, is helping solar become even more accessible and affordable for Americans. Since 2011, the average price per kilowatt-hour (kWh) of a utility-scale PV project has dropped from about $0.21 to $0.11. The solar industry is now 60% of the way to reaching SunShot's $.06 per kWh goal by 2020. For the complete story, see the EERE Blog.