Ariz. Team Seeks Fossil-Fuel Cost Parity, Using Solar Energy Concentrators
autospa writes "A University of Arizona engineering team led by Roger Angel has designed a new type of solar concentrator that uses half the area of solar (PV) cells used by other optical devices and delivers a light output/concentration that is over 1000 times more concentrated before it even hits the cells. This comes as a result of a broader goal to make solar energy cost competitive with fossil fuels (target = 1$/W) without the 'need for government subsidization.'"
A watt is a unit of power, a watt hour is a unit of work. The goal is $1/W which means that a 1000 W system, which produces ~8KWh per day (more further south), only costs $1000, and would pay for itself in about three years, making it economically viable for most people.
Yeah, those subsidies clearly don't exist. That's why at one point Obama claimed he was going to cut $36.5 billion in them.