Money For New Energy Research Within Reach
The climate change policy with the most potential is the most neglected; Public clean energy R&D is overlooked and underfunded.
David Roberts, July 11, 2019 (VOX)
“…[Technology for the New Energy transition needed to beat the climate crisis] will require researching and developing new products and services, especially in fossil fuel-intensive industries like concrete- and steel-making that have largely been neglected…[Those calling for more R&D have long been] pitted in an utterly unconstructive battle against those calling for more deployment of existing clean energy technologies…We are doing nowhere near as much as we should of either one…[New research shows donating for R&D is more effective than impact investing and the most effective donating is to] the Clean Energy Innovation program at the Information Technology and Innovation Foundation(ITIF), a US think tank…
…[The core argument for public spending on clean energy R&D] comes in four parts…1) Emission reduction in emerging economies matters most…2) Thus, “the best climate policies are those that stimulate clean energy innovation.”…3) Public R&D creates the most spillover…[and] 4) Public R&D is woefully neglected but politically tractable…Just $22 billion a year is spent globally on clean energy R&D. That is a pittance — a drop in the bucket of the $600 billion in annual military spending in the US alone…[A]ny advanced economy could substantially, and unilaterally, increase that number…[Many countries could eliminate] production-based emissions entirely and it would scarcely make a dent in global emissions, whereas, for a tiny fraction of the cost, [they] could unilaterally double the global clean energy R&D budget and stimulate far more innovation, with arguably greater impact…” click here for more