Clean Energy Program | Memo

Making a Case for Innovation Investment in an Era of Austerity

by Joshua Freed

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In an era of austerity, why should the federal government invest in clean energy innovation?

Two words: Economic growth.

Here’s four more that should delight policymakers: Economic growth = increased revenues. There is a $2.3 trillion global clean energy market that will create new businesses, jobs and corporate revenue. But because of low private sector investments in research, the long amount of time it takes to commercialize clean energy technologies, and the big lead foreign competitors have in the energy sector, the U.S. is lagging far behind.

This memo makes the case that there is a critical role for federal investment in innovation: to create jobs, reduce the deficit, and help drive the private sector growth we need to end the recession once and for all.

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