This conference paper provides a brief look at the current U.S. research and development (R&D) investments in photovoltaics, covering the spectrum from materials and devices through electronics and systems reliability. The program is balanced among fundamental R&D, technology development, and systems performance and reliability, with more than half the funding for university and industry partners. The major activities can be categorized into two general areas: improving current and near-term technologies toward their expected performance levels (the largest portion), and positioning the United States for technical leadership, decision making, and ownership for the host of next-technology options (including some options that have been called third-generation). The investments in these higher risk, longer-term technology generations provide options that could leapfrog into more rapid use because of their promise of potentially high payoff. Solar electricity is part of America's present and future energy security and independence-as is the R&D that enables it.