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Solar Costs Continue Rapid Drop

The Energy Department has announced that the U.S. Solar industry is more than 60 percent of the way toward its goal of achieving cost-competitive utility scale solar photovoltaic (PV) electricity.

solarpanelsThe announcement comes only three years into the SunShot Initiative program, a decade-long effort to produce electricity at $0.06 per kilowatt-hour. In the U.S., the average price for a utility-scale PV project has fallen from $0.21 per kWh in 2010 to $0.11 per kWh at the end of 2013.

To continue the progress, the Energy Department also announced $25 million in funding to support U.S. manufacturing of solar technologies, as part of its Clean Energy Manufacturing Initiative.

During President Obama’s first term, the U.S. more than doubled its generation of electricity from renewable sources. Installed solar capacity increased ten-fold, from 1.2 gigawatts in 2008 to roughly 13 gigawatts today. Obama has set the goal to double renewable output again by 2020.

At US Power and Gas, our home-based energy consultants pay close attention to market trends, and translate that knowledge to action on behalf of our customers. If you’d like to help homes and businesses lower their electricity and natural gas costs, while building your own career based on residual income, learn more today.

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