Federal Funding For 3 Solar Companies

Federal Funding For 3 Solar Companies

Following years of pressure from green groups, researchers, experts and scientists, the U.S. government is attempting to undo years of neglect in the renewable energy resources sector by offering grants and incentives to companies and developers. It is hoped that, following the realisation that fossil fuels are causing heavy pollution to the world, and are also running out, that providing funding for renewable energy sources will help to change a harmful and wasteful habit. This habit of wasting natural resources, only thinking about money has come down from the government and big business, into the daily lives of the common people.

The latest funding grants given to three Massachusetts solar companies, Gloucester’s Varian Semiconductor Equipment Associates and Lowell’s Veeco Solar Equipment, which both received $4.8 million each. The third company, Lexington’s 1336 Technologies received the remaining $3 million from a total of $12.6 million in total funding available. This was given out by the U.S. Department of Energy’s SunShot initiative, and is hoped to show the business world and the community that the U.S. government is wanting and willing to do what it needs to in order to change the nation’s habits and wasteful nature.

It is hoped that these three companies will be able to make solar energy equipment more affordable, and thus make it a more attractive prospect to potential buyers and developers. A large reason why going green is harder for many people is the sheer initial outlay of funds require to achieve this. VESA’s project is aimed at reducing the manufacturing cost of the industry’s most efficient silicon solar cells. While for Veeco, it is hoped that research and development into more cost-efficient copper indium gallium diselenide (CIGS) photovoltaic cells. For 1336, it is hoped that they will be able to reduce the cost of silicon wafers for photovoltaic cells.

It is hoped for, by the U.S. government, that the progress towards moving into the renewable energy age will be taken in steps, but quicker steps that what is previously planned. A problem is, however, there’s a lack of private investors willing to fork out money from their pockets to plan for the future.

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