It’s got a long way to go to get there. According to the U.S. Department of Energy, the sun currently provides power to meet less than 1 percent of the country’s domestic energy needs. That figure could change in a hurry, though. The International Energy Agency sees renewables—including solar—becoming the second-largest source of electricity behind coal soon after 2010. The key factor in helping solar power elevate its status is lowering the cost of producing it, a significant task considering the wide swings in energy prices between regions of the country. In California, where electricity costs as much as 44 cents per kilowatt-hour, solar is attractive. It’s a different story in North Carolina, where electricity costs are about 9 cents per kilowatt-hour. Still, Stan Gwizdak, president of Charlotte, North Carolina–based solar consultancy S&G Business Ventures Inc., says he believes “we’re getting closer and closer” to the day when the cost of power produced by the sun is comparable to that of traditional electricity “for the majority of the U.S.”

To succeed in this industry, companies need two things. The first is a research and development operation that lets them manufacture products and provide technology that makes solar economically advantageous. As Fish & Richardson partner Sean Daley says, “It’s not just getting a cell that works well. It’s getting a cell that works well and is cheap enough.” Coming up with a smart twist—a thin-film photovoltaic sheet, say, that generates electricity and doubles as a window shade—can help in that regard, notes Finnegan, Henderson, Farabow, Garrett & Dunner partner Mark Sweet.

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