U.S. Energy Secretary Steven Chu has announced additional details of the Department of Energy's "SunShot" initiative to reduce the total costs of photovoltaic solar energy systems by about 75 percent so that they are cost competitive at large scale with other forms of energy without subsidies before the end of the decade. By reducing the cost for utility-scale installations to roughly $1 a watt -- which would correspond to roughly 6 cents per kilowatt-hour -- solar energy systems could be broadly deployed across the country.
This would increase American economic competitiveness and help the United States regain leadership in the global market for solar photovoltaics. As part of the SunShot initiative, Secretary Chu announced that the Department of Energy is awarding $27 million in projects to support the development, commercialization, and manufacturing of advanced solar energy technologies.
Full details from the Department of Energy
SunShot Initiative website