By Erin Smith Innovation is key to securing America’s security, competitiveness, and prosperity. Breakthroughs in technology have the potential to create entirely new markets and improve the productivity of existing ones, which is why most economists view innovation as a reliable driver of long-term economic growth. Advances in energy technology deserve particular attention because access[…]
Rep. Randy Hultgren discussed the catalyzing role that smart federal investments, such as our national labs, can have on economic growth.
The ability of investments in innovation to drive economic development at home makes innovation a rare opportunity for bipartisanship.
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.
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.
Why should governments fund basic research? For the same reason that companies tend not to: because it is a public good.
Energy innovation is rising to a priority discussion in the United States, as last week both chambers of Congress acted on legislation that will guide the course of federal science and R&D investments for years to come. The House of Representatives narrowly passed its version of the America COMPETES Reauthorization Act (H.R. 1806), while in the[…]
In recent years, several members of Congress have proposed comprehensive tax reforms, all of which would affect the cost of electricity. In February 2014, previous House Ways and Means Committee Chairman Dave Camp (R-MI) released his proposal for comprehensive tax reform. Representative Camp’s proposal followed a set of proposals (here and here) issued as part[…]
Since 2010, real investments in federal government energy R&D have been flat, and actually declined adjusted for inflation.
Energy technology innovation is critical for expanding U.S. economic growth, enhancing energy security, and protecting our environment. However, critical federal investments in energy innovation have remained unchanged since 2010, as detailed by the American Energy Innovation Council (AEIC) in its third report, Restoring American Energy Innovation Leadership: Report Card, Challenges, and Opportunities, released today. The[…]