News That Matters

Tag: reaches

Obama-era solar power program reaches goal early

Obama-era solar power program reaches goal early

Business
Sept. 13 (UPI) -- A U.S. solar power initiative enacted by former President Barack Obama reached a goal for cost competitiveness three years early, the government said.The U.S. Energy Department's National Renewable Energy Laboratory said in a report that the cost to install solar power during the first quarter of the year reached a record low because of higher efficiencies, lower labor costs and the decline in the price for photovoltaic components.For utility-scale projects, those supplying energy to the nation's grid, the costs are down about 30 percent when compared with first quarter 2016."These results suggest that the DOE's SunShot Initiative, which was launched in 2011 to make solar cost-competitive with other forms of energy, has met its 2020 cost target for utility-scale solar sys...