With momentum building on both sides of the aisle in Congress to advance clean energy technology development, today the American Energy Innovation Council released a new set of policy recommendations designed to keep the U.S. at the forefront of the global technology competition, leading to strong domestic job growth while addressing climate change.
The policy paper, Energy Innovation: Developing the Technologies for Decarbonization, draws upon the council members’ deep background leading some of America’s top energy and technology companies. Only by integrating investment from both the public and private sectors across each stage of the development process can promising energy technologies successfully reach commercialization.
“America needs to enact a more strategic and ambitious energy innovation plan to position our economy for a successful low-carbon energy transition and be globally competitive,“ said Norm Augustine, AIEC co-chair and retired Lockheed Martin CEO. “We propose our new policy recommendations today with greater urgency than ever, as they are crucial to driving strong economic growth while preventing the worst outcomes of climate change.”
The recommendations include:
- Tripling federal funding for clean energy innovation over the next five years
- Fund the Advanced Research Projects Agency–Energy at $1 billion per year
- Establish a “New Energy Challenge Program” to build large-scale pilot projects
- Create an independent national “Energy Strategy Board”
- Expand centers of excellence with strong domestic expertise
“For the last decade, the business leaders in the AEIC have helped convince Republicans and Democrats that more robust energy innovation is central to U.S. economic leadership, particularly as the global energy transition gains momentum,” said Sasha Mackler, energy project director at the Bipartisan Policy Center. “Now it’s time for Congress to act on this widely supported innovation agenda.”
These recommendations reflect AEIC’s 10-year advocacy for strong federal investment in energy innovation, working with lawmakers and stakeholders to build broad support for an energy innovation agenda that can position our nation for long-term economic and environmental prosperity.