The report discusses the perspectives on the evolving U.S. electricity future, the renewable electric technology portfolio, the regional outlook, and the opportunities to move forward. Renewables are at a critical juncture as the domestic electricity marketplace moves toward an era of increased choice and greater diversity. The cost and performance of these technologies have improved dramatically over the past decade, yet their market penetration has stalled as the power industry grapples with the implications of the emerging competitive marketplace. Renewable energy technologies already contribute to the global energy mix and are ready to make an even greater contribution in the future. However, the renewables industry faces critical market uncertainties, both domestically and internationally, as policy commitments to renewables at both the federal and state levels are being reshaped to match the emerging competitive marketplace. The energy decisions that we make, or fail to make, today will have long-lasting implications. We can act now to ensure that renewable energy will play a major role in meeting the challenges of the evolving energy future. We have the power to choose.

In this overview, the goals that were met in FY 1998 are highlighted along with progress that was made toward long-term goals for research, technology development, and applications. The manufacture, sale, and use of photovoltaic (PV) devices to generate electricity directly from sunlight has become a billion-dollar industry worldwide. The production capacity for PV modules in the US had doubled between 1993 and 1997. While continuing research to improve technology, one must work with industry to move this technology from the laboratory to the marketplace.