DOE Announces $113M in Solar Funding

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"Grants will support development of advanced solar photovoltaic-related manufacturing at consortiums in California, New York and Florida."

The U.S. Department of Energy said on Tuesday it has selected up to $112.5 over five years in investments to support advanced solar manufacturing.

The money will support development of advanced solar photovoltaic-related manufacturing at consortiums in California, New York and Florida.

The investments are part of the Obama administration's goal of reducing the total costs of photovoltaic solar energy by about 75% to about $1 a watt by the end of the decade so they will not need subsidies to compete.

The administration also hopes to push the country to recapture the lead as the world's top solar technology manufacturer, a position currently held by China.

The U.S. Photovoltaic Manufacturing Consortium in New York and Florida will get $62.5 million to help speed up development and manufacturing of thin film solar technologies. Programs will be developed at both the State University of New York and the University of Central Florida.

A project managed by Stanford University and the University of California, Berkeley to develop and test new materials and fabrication processes, will receive $25 million.

In San Jose, California, SVTC Technologies, LLC a solar developer, will receive $25 million.

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