Obama Sets Up Cost Of US Solar Energy For Another Freefall

Obama Sets Up Cost Of US Solar Energy For Another Freefall

Solar energy is already cost competitive with conventional fuels in 14 US states, and that’s pretty amazing considering that the bottom has dropped out from under the coal, natural gas, and petroleum markets. Well, the other 36 states better brace themselves because here comes more than $102 million in US Energy Department funding for new projects to make solar energy even cheaper.

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U.S. Energy Secretary: Solar and wind energy now cost-competitive without subsidies

U.S. Energy Secretary Ernest Moniz, who trained as a nuclear physicist, believes that the price of solar and wind power have fallen so dramatically that the market for them can now grow without subsidies. Moniz told reporters that the Obama administration supports Congress' extension of renewable energy tax credits, but "I certainly see solar growing" even "without subsidy" and the cost reductions have "been incredible" for the solar industry, making for an improved "value proposition ... in many contexts."

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