Energy

Biden administration plan for lowering costs of solar energy

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An aerial image shows vehicles driving on the California 14 Highway as solar panels, part of an electricity generation plant, stand on June 18, 2021 in Kern County near Mojave, California.

Patrick T. Fallon | AFP | Getty Images

Solar power in the U.S. has grown 4,000% percent over the last decade, but it still only accounts for 3% of electricity generation. The Biden Administration wants to change that, and on Tuesday said that solar could provide 40% of the country’s electricity by 2035 — if the government enacts supportive policies.

In order to meet this target, the Department of Energy said that solar’s growth rate will need to triple — or even quadruple — by 2030. That means costs…



Source cnbc.com

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