DOE Makes up to $60 Million Available for Concentrating Solar Power Research
May 05, 2008
On April 30, the U.S. Department of Energy (DOE) announced that it will provide up to $60 million for concentrating solar power (CSP) projects in the areas of advanced thermal energy storage or heat transfer fluids. This funding opportunity includes options for both new research and development and demonstrations of technologies already under development.
DOE anticipates that 10 to 25 industries or academic institutions will be selected to receive this funding, which will be distributed over the next five years. With a mandatory private industry cost share of 20% for research and development, and a 50% cost share for demonstrations, more than $75 million could be invested in these projects.
CSP systems produce thermal energy by absorbing and concentrating energy from the sun. Because they can store this thermal energy for extended periods of time, CSP systems can provide energy even when direct sunlight is not available. For more information about CSP, see EERE's Solar Energy Technologies Program.