The International Energy Agency’s recent Clean Energy Innovation assessment is that more than 50% of the technologies needed for the attainment of net zero greenhouse gas emissions targets by 2050 are not yet commercialized and need rapid acceleration. Considering the global climate crisis, research, development, and demonstration (RD&D) spending on clean energy needs to be higher and more effective. Bipartisan support for spending on clean energy innovation has been a fixture of the US Congress over the past decade. Now as Congress debates the path forward for this investment, more attention should be given to how to improve outcomes from new appropriations.
Read MoreAs Congress continues to debate infrastructure legislation, it should endorse a proven model for addressing the complex political landscape in the United States: Green banks. The Biden administration is proposing the establishment of a $27 billion “Clean Energy & Sustainability Accelerator’ which, in effect, would be a federal green bank. A new report from Climate Policy Lab argues that a federal green bank can be “one of the best tools in the country’s toolbox for ensuring a just energy transition” by targeting communities being left behind
Read More