CEBA calls for Federal research, development, and demonstration funding increase to accelerate clean energy technology development and deployment.
In May, CEBA signed onto a letter to Congressional leaders requesting a multibillion-dollar increase for vital clean energy technology research, development, demonstration (RD&D), and commercial deployment activities at the Department of Energy (DOE). This FY22 appropriations increase would provide the critical investment needed to support the development and deployment of clean energy technologies to drive decarbonization by 2050. Joined by over 100 organizations, the letter emphasized the importance of increasing funding to:
- Create near- and long-terms jobs and economic growth opportunities spread across labs, universities, and businesses in every state.
- Maintain U.S. leadership and ability to compete in the global market by demonstrating, commercializing, and deploying technologies at scale.
- Support demand for affordable low- and zero carbon technologies to help U.S. industries reduce carbon emissions and fight climate change.
The Importance of Increasing RD&D Funding
While the technologies needed to achieve the necessary deep cuts in global emissions by 2030 are readily available today, many of the technologies required for a full clean energy transition by 2050 are not yet commercially viable. Private-public investment is critical to addressing barriers and unlocking market opportunities for new promising clean energy technologies. Increasing federal investments in new clean energy technologies supports the American innovation ecosystem, which has historically been a competitive edge for domestic workers, innovators and businesses competing in the global energy markets. Recently the U.S. has fallen behind other nations that are investing heavily in energy R&D. It is critical that the Federal government accelerate investments to create the robust set of clean energy technologies required to reduce emissions, drive economic recovery, and achieve deep decarbonization.
Why Is Increasing RD&D Funding Important to Energy Buyers?
Large-energy buyers in the commercial and industrial sectors have an important role during the demonstration and commercialization stages by providing crucial product feedback and testing emerging technologies in market conditions. Increasing federal funding for clean energy RD&D will provide the support needed to accelerate those later stages of innovation and match private sector funds, which currently make up almost all funding for mature technologies. Large-energy buyers accelerate the market demand for affordable low-and zero-carbon technologies to meet their climate goals, but public investment is critical to propel energy innovation at the rate needed to compete and confront climate change.
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1International Energy Agency, Net Zero by 2050 A Roadmap for the Global Energy Sector 2021 p. 14
2Energizing America: A Roadmap to Launch a National Energy Innovation Mission Columbia Center of Global Energy Policy 2020p. 14
3International Energy Agency, “Public Energy R&D as a Share of GDP for Selected Countries, 2012-2019,” July 2020 https://www.iea.org/data-and-statistics/charts/public-energy-r-and-d-as-a-share-of-GDP-in-selected-countries-2012-2019
4Energizing America: A Roadmap to Launch a National Energy Innovation Mission Columbia Center of Global Energy Policy 2020p. 23
5Energizing America: A Roadmap to Launch a National Energy Innovation Mission Columbia Center of Global Energy Policy 2020p. 23