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DOE to Invest $35 Million in Concentrating Solar Power Projects

September 19, 2008

The U.S. Department of Energy (DOE) selected 15 new projects--for funding of $35 million--to facilitate developing lower-cost energy storage for concentrating solar power (CSP) technology.  Announced September 19, 2008, the selections are for negotiations of award under the Funding Opportunity Announcement, Advanced Heat Transfer Fluids and Novel Thermal Storage Concepts for Concentrating Solar Power Generation. See details in a copy of the DOE Press Release.

Proposals were selected from the following three categories: (1) Advanced heat-transfer fluids research and development, (2) Thermal energy storage R&D, and (3) Thermal energy storage near-term demonstration.

Seven companies and six universities were selected for funding under this award. In total, DOE will provide up to $35 million over four years, subject to annual appropriations. With cost-sharing, the total public-private investment will be up to about $67.6 million for the following selected projects:

Advanced Heat-Transfer Fluids Research and Development

Thermal Energy Storage Research and Development

Thermal Energy Storage Near-Term Demonstration

Selected projects are expected to promote DOE’s goal of reducing the cost of CSP electricity from 1316 cents per kilowatt-hour (kWh) today with no storage to 811 cents/kWh with 6 hours of storage by 2015, and to less than 7 cents/kWh with 1217 hours of storage by 2020.

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