"In just the last few years, the U.S. has seen remarkable increases in clean and renewable energy, doubling the amount of energy that we produce from solar and wind and supporting a strong, competitive solar supply chain," Moniz said in a statement Thursday.
Moniz said the Energy Department released $25 million in new funding to help support the domestic manufacturing of solar photovoltaic components to keep the sector moving in the right direction.
The investment is part of the so-called SunShot initiative, a program meant to spur U.S. innovations to reduce the cost of solar energy.
The Energy Department said the average price for solar photovoltaic power was 11 cents per kilowatt-hour at the end of 2013. For the entire sector, the average price is 12 cents per kilowatt-hour.
The SunShot initiative envisions utility-scale prices for solar power at 6 cents per kilowatt-hour.
Moniz attended the Thursday opening of the Ivanpah solar power plant in California, the largest solar facility of its kind in the world.
It's a "shining example of how America is becoming a world leader in solar energy," he said.
Notable deaths of 2014 [PHOTOS]