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Posted on: June 14 2012 Tags:  solar power,    energy policy,  

Secretary Chu Announces New Efforts to Drive Grid-Parity Solar Within the Decade

June 13, 2012

As part of the Energy Department's SunShot Initiative, which aims to drive solar to cost-competition with other energy sources by 2020, Secretary Steven Chu today announced a new competition and investments to make it easier and cheaper for utilities, businesses and consumers to deploy clean, renewable solar energy. While speaking at the SunShot Grand Challenge Summit in Denver, Secretary Chu announced "America's Most Affordable Rooftop Solar competition" to aggressively drive down the cost of rooftop solar energy systems as well as awarding nearly $8 million to nine start-ups to lower the cost of financing, permitting, and other "soft costs," which can amount to nearly half the cost of residential solar systems.