Widespread public sector investment in basic energy technology is critical to complement private investment and drive long-term economic growth in America and globally.
While the private sector plays the dominant role in commercializing new technologies, smart federal investments should seek to address gaps in the innovation process.
Rep. Randy Hultgren discussed the catalyzing role that smart federal investments, such as our national labs, can have on economic growth.
AEIC commended passage of an amendment by Sens. Dick Durbin and Lamar Alexander to increase funding for the Office of Science by $2.7 billion through fiscal year 2020.
AEIC hosted an event to examine the rationale and implications of expanding federal support for energy innovation.
The ability of investments in innovation to drive economic development at home makes innovation a rare opportunity for bipartisanship.
In 2010, the American Energy Innovation Council, composed of CEOs from multiple industries, called for the tripling of energy research and development.
The energy sector spends less than half of one percent of sales on R&D, whereas other industries like pharmaceuticals and aerospace/defense spend considerably more.
The study quantifies the impact of the Baucus, Camp and Wyden-Coats proposals on the illustrative project economics of different electricity-generation sources.
AEIC hosted the event as part of the organization’s “Partners in Ingenuity” series, an on-going effort to bring together key stakeholders to address challenges facing energy technology R&D.