Global environmental challenges
The U.S. Department of Energy announced this week $60 million in funding for scientists to develop “revolutionary research” to lower the cost of solar power systems.
The initiative is being called a “sign of the times for the sector“, and comes amidst accusations the government is squandering taxpayer money on businesses doomed to fail, best exemplified by recently bankrupt solar heavyweight Solyndra.
The DOE says the SunShot CSP grant is meant to look beyond short-term innovation and explore transformative concepts with the “potential to break through performance barriers like efficiency and temperature limitations,” the DOE announced. It wants scientists to think big.
With highly touted plans for a new electric car in jeopardy, an overseas investor steps in to provide new capital and a much-needed endorsement.
GM? No, Tesla.
Remarkably, the terms of German automaker Daimler AG's 10-percent stake in Tesla may have also helped the Silicon Valley electric-car start-up inch closer to GM in value.