DOE Funds 15 New Projects to Develop Solar Power Storage and Heat Transfer Projects For Up to $67.6 Million

WASHINGTON - U.S. Department of Energy (DOE) today announced selections for negotiations of award under the Funding Opportunity Announcement (FOA), Advanced Heat Transfer Fluids and Novel Thermal Storage Concepts for Concentrating Solar Power Generation. These 15 new projects, for up to approximately $67.6 million, will facilitate the development of lower-cost energy storage for concentrating solar power (CSP) technology. These projects support President Bushs Solar America Initiative, which aims to make solar energy cost-competitive with conventional forms of electricity by 2015. Increasing the use of alternative and clean energy technologies such as solar energy is critical to diversifying the Nations energy sources to reduce greenhouse gas emissions and dependence on foreign oil. As the lead agency for President Bushs Advanced Energy Initiative, DOE is committed to the diversification of our energy resources by spurring widespread commercialization and deployment of clean solar energy technologies. The development of innovative technologies will help to provide long-term economic, environmental, and security benefits to the United States. Harnessing the natural and abundant natural power of the sun and more cost-effectively converting it into energy has enormous potential to help reduce greenhouse gas emissions and provide greater stability in electricity costs, DOE Acting Assistant Secretary for Energy Efficiency and Renewable Energy John Mizroch said. These projects will not only spur innovation in photovoltaic technology, but they will help meet the Presidents goal of making clean and renewable solar power commercially viable by 2015. CSP systems utilize the heat generated by concentrating and absorbing the suns energy to produce electric power. A CSP plant with storage can operate continuously during periods of intermittent sun and produce electricity for extended periods without the sun. With thermal storage, the CSP plant is also able to match its electricity production with demand. This enables solar power to be provided to homes and businesses whenever it is most needed, day or night. In addition, thermal storage can lower the levelized cost of electricity from a CSP plant. Selected projects are expected to promote DOEs goal of reducing the cost of CSP electricity from 13-16 cents per kilowatt-hour (kWh) today with no storage to 8-11 cents/kWh with six hours of storage by 2015, and to less than seven cents/kWh with 12-17 hours of storage by 2020.