The Two Things To Note In The DOE's Solar + Storage Initiative
Michael Kanellos for Forbes: The Department of Energy doled out $18 million in grants this week as part of an effort to drive down the cost of solar plus storage down to less than 14 cents a kilowatt hour. The DOE, under its SunShot program, has long had a goal of driving down the cost of solar alone to 6 cents per kWh by 2020. So far, the program has hit its milestones.
Grants recipients include Austin Energy, Carnegie Mellon University, the Electric Power Research Institute (EPRI) and Aquion Energy, among others.
The DOE regularly gives out grants, but the latest program is somewhat interesting because:
First, that’s a really low price for storage. Utility-scale solar, generally cheaper than residential solar, without storage delivered power for 14 cents a kilowatt hour in 2014. The cost of batteries, however, has been declining rapidly. Ten years ago, batteries progressed slowly compared to other electronic devices: Tesla Motors TSLA +0.50% co-founder and CTO J.B. Straubel was famous for noting that the performance of batteries doubled every decade, versus the roughly two year cycle for semiconductor. Cont'd...
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