CybeRelease: (OTC: SOEN) Applauds Proposed $148 Million Federal Solar America Initiative
(CybeRelease, June 8, 2006) - Lake Harmony, PA - Solar EnerTech Corp. (OTC BB: SOEN) announces its support of the Solar America Initiative proposing the largest funding increase for solar energy research in U.S. budget history. President Bush’s Fiscal Year 2007 Budget proposes a new $148 million Solar America Initiative with a 78% increase of $65 million over Fiscal Year 2006 appropriations for solar energy technology. Solar EnerTech is focused on the development and manufacture of quality solar cells, applications and advanced technologies and applauds the U.S. Department of Energy’s commitment to clean solar energy.
According to the U.S. Department of Energy the Solar America Initiative is designed to accelerate the development of advanced photovoltaic (PV) materials that convert sunlight directly to electricity, with the goal of making solar PV cost-competitive with other forms of renewable electricity by 2015. The goal of the initiative is to generate enough solar energy by 2015 to provide 5 to10 gigawatts of electricity, enough to power 1 to 2 million homes.
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