CSP will Lead Solar Power to be Cost Competitive with Traditional Energy Sources

16th Apr 2013

In February 2011, US Secretary of Energy Steven Chu announced the launch of the SunShot Initiative, which had the sole objective of reducing the installed cost of solar energy systems by around 75% in order to make solar energy cost competitive with other conventional energy sources, and encourage widespread and large-scale adoption of solar energy technologies.

After Steven Chu made the announcement Ranga Pitchumani, the John R. Jones III Professor of Mechanical Engineering at Virginia Tech, was invited to direct the concentrating solar power (CSP) element of the initiative.

Pitchumani explained that the goal of SunShot was “to get solar energy technologies to achieve cost-parity with other energy generation sources on the grid without subsidy by the year 2020. That's an aggressive mission which calls for several subcomponent innovations and ingenious system designs to drive costs down, while improving efficiencies.”

Pitchumani is a leading expert in the field of CSP and strongly believes that it could become the technology that finally allows solar power to effectively compete with fossil fuel energy generation. The US already has several large-scale CSP plants under construction which, once completed, will make the US one of the world leaders in CSP capacity.

By. Jennifer Robinson