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The U.S. Department of Energy (DOE) today announced an ambitious new target to cut the cost of solar energy by 60% within the next ten years, in addition to nearly $128 million in funding to lower costs, improve performance, and speed the deployment of solar energy technologies. These investments support the Biden-Harris Administration’s climate goals and will pave the way for affordable decarbonization of the energy system and a robust clean energy economy.

“In many parts of the country, solar is already cheaper than coal and other fossil fuels, and with more innovation, we can cut the cost again by more than half within the decade,” said Secretary of Energy Jennifer M. Granholm. “This first burst of funding will help us add even more affordable clean energy to the grid, jobs to communities across the country, and will put us on the fast track toward President Biden’s goal of 100% clean electricity by 2035.”

One of the projects is focusing on Tandem PV, and the U.S. Department of Energy (DOE) announced today a grant award of $2 million in funding for the U.S. based consortium consisting of FOM Technologies, TandemPV, Uni. of California – San Diego, Uni. of North Carolina – Chapel Hill and Hanwha Q-Cell solar. The scope of the project is to develop large-area Perovskite Tandem solar panels.

Read the full company announcement

(Photo by Dennis Schroeder / NREL)