DOE Announces Grant Funding to Help Solar Achieve Viability as a Baseload Power Source

By Chad Farrell of Encore Redevelopment, May 2010

On May 14, 2010, the United States Department of Energy announced grants intended to help make solar technology a more viable solution for contributing baseload electricity to the grid.  Overcoming the variability of electricity output from solar cells is only one of the barriers preventing solar from making up a larger share of our electric mix, and more efficient storage strategies for concentrated solar will allow solar arrays to have a continuous output by releasing power when it is cloudy or at night.  Federal funding and private equity should also result in the focusing of research and development activities on improving the efficiency of panel production and output which will lower the cost of panel manufacturing and increase the electrical output of panels.

Even without major improvements, the current technology has been proven as a viable solution for investors and business owners looking for an alternative to escalating electric rates.  Current incentives are driving the market for solar installations, and in Vermont one of those incentives, the Vermont Solar Business Tax Credit is set to be significantly reduced at the end of this year.

For more information on the DOE grants and concentrated solar technology, check out the full Grist article here.

For information on Encore and opportunities for your business, town or non-profit to benefit from an investment in solar electricity to serve as a hedge against escalating energy rates, please visit the representative projects section of our website here.