U.S. announces solar energy initiative

Jun 28, 2006

U.S. Department of Energy Secretary Samuel Bodman has announced an initiative designed to make solar technology cost effective by 2015.

Bodman said the U.S. will spend $170 million during a three-year period for cost-shared, public-private partnerships to advance solar energy technology.

He said the move is part of the Solar America Initiative, President Bush's commitment to diversify energy resources through grants, incentives and tax credits.

The SAI's goal is to reduce the cost of solar energy systems to make them competitive with conventional U.S. electricity sources by 2015.

"This investment is a major step in our mission to bring more clean, renewable solar power to the nation," Bodman said. "If we are able to harness more of the sun's power and use it to provide energy to homes and businesses, we can increase our energy diversity and strengthen our nation's energy security."

Copyright 2006 by United Press International

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