U.S. DOE to invest $24M in solar energy

The U.S. Department of Energy is putting up cash for solar energy, announcing that it will invest up to $24 million in projects that are designed to accelerate the penetration of solar photovoltaic systems in the country.

Twelve industry teams will share the financing as part of the DOE's Solar Energy Grid Integration Systems projects, working on advancing the integration of solar power into the electrical grid.

"Our investment in these grid integration projects will lay the groundwork for high levels of solar photovoltaic market penetration to help meet the president's goal of making solar power cost-competitive with conventional sources of electricity," said John Mizroch, the principal deputy assistant secretary of the DOE.

The industry teams will work on projects including the development of intelligent system controls that integrate traditional building energy management systems with solar systems. The teams will also look at products that facilitate interaction between solar energy systems and plug in hybrid vehicles, to provide secure back-up power sources during outages.

Combined with industry cost share of up to $16 million, the DOE said more than $40 million in total could be invested in these projects.

Some of the companies receiving the funding include Bethel, Conn.-based Apollo Solar, Hauppauge, N.Y.'s Nextek Power Systems and SmartSpark Energy Systems in Champaign, Ill. The DOE's Sandia National Laboratories in Albuquerque, N.M., will provide project management support to the projects.

The agency plans to award additional contracts in fiscal 2009 and beyond.