DOE earmarks $29 million for solar SunShot initiative

12/10/2012 | SNL Financial (free content)

The U.S. Department of Energy furthered its commitment to solar energy development with a $29 million investment in research and development through its SunShot Initiative. The majority of the funding will go toward perfecting turnkey photovoltaic systems that make it possible to deploy a fully operational, residential solar generation system in as little as one day. "The price of solar panels has fallen dramatically in recent years, but we also need to reduce the cost and time required to actually install them in homes and businesses, and help utility companies better integrate renewable energy into the grid," Energy Secretary Steven Chu said.

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