The global clean energy marketplace is expanding rapidly, but with no clear, consistent, long-term national energy policies, American industry risks losing out to competition abroad. In their recently released report, Innovate, Manufacture, Compete, the Pew Charitable Trusts discusses the results of workshops held across the country with industry, academia, and other stakeholders. The report concludes that not only is policy uncertainty the overriding problem for clean energy investment, but also that lack of access to capital and long-standing subsidies to conventional energy sources are the main reasons that policy matters. They recommend that the United States:
- Establish a clean energy standard to guide deployment and investment for the long term.
- Significantly increase investment in energy research and development.
- Enact a multiyear but time-limited extension of tax credits for clean energy sources.
- Level the playing field across the energy sector by evaluating barriers to competition.
- Enhance clean energy manufacturing in the United States.
- Expand markets for U.S. goods and services.
The Pew Charitable Trusts report can be read here.