As we work toward the goal of a low-carbon economy, we should double the size of the federal energy RD&D budget and create a new interagency group, the Energy Innovation Council, or EIC, that will be responsible for developing a multi-year National Energy RD&D Strategy for the United States to create a fresh approach to energy RD&D.
The mandate of the EIC would be to construct a plan that integrates the RD&D programs of the involved federal agencies over a multi-year period. The National Energy RD&D Strategy would provide direct expenditures to support technology development and demonstration and indirect financial incentives or regulations to promote new technology.
This new approach will need to address the shortcomings that have frequently plagued energy RD&D efforts, such as the practice of spending significant resources on demonstration projects that provide little useful information to the private sector. At the same time, the EIC will also require the private sector to adopt new technologies that can succeed in the competitive marketplace.
For more information on the Center for American Progress’ comprehensive strategy for creating a low-carbon economy, please see:
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