ITIF to government: Enough with the incentives! Give us energy R&D instead
By Jesse Berst
Quick Take: The Information Technology and Innovation Foundation (ITIF) has issued a report claiming that when it comes to energy innovation, the U.S. government is 1) spending too little and 2) spending it wrong.Oh, and by the way, the government should also 3) create a comprehensive energy policy.
Click the link to download a copy of Breaking Down Federal Investments in Clean Energy. It analyzes the last four years of federal investments, and the picture is not a pretty one:
- Investment in clean energy manufacturing has declined 92% (ouch!)
- Nearly two-thirds of all investment went to deployment and procurement, not research and development
"The energy innovation ecosystem has been hollowed out," claimed ITIF Senior Analyst Matthew Stepp in a prepared statement. "Although the Recovery and Reinvestment Act of 2009 stimulated public investments across the energy innovation ecosystem, many of these programs and incentives have since expired or concluded."