Undersecretary of Energy Clarence Albright announced up to $60 million in funding over five years to support the development of low-cost Concentrating Solar Power technology.

Applications are due on or before Thursday, July 10.

Increasing the use of solar energy is part of the Bush administration's efforts to diversify energy sources in the United States.

"The investment in solar technology will not only bolster innovation, but will help meet the goal of making solar power cost-competitive with conventional sources of electricity over the next seven years," Albright said.

The available funding will go to projects from industry and academia that develop advanced thermal storage concepts and heat transfer fluids to increase the efficiency of concentrating solar power plants.

The department expects to give out between 10 and 25 grants.