The Clean Energy Economy  

Posted by Big Gav in

Technology Review has a post on the benefits and challenges facing a new clean energy economy - The Clean Energy Economy: A New Industrial Revolution Rising From Challenging Times.

In the last five years, many venture capitalists (myself included) have committed to backing entrepreneurs who aspire to build the next generation of clean energy companies that will endure. Thousands of companies have formed to harness alternative forms of energy like wind, solar and biofuels; and to reduce man's carbon footprint. Billions of dollars have been poured into this fledgling entrepreneurial ecosystem with the vision of creating significant wealth, millions of jobs, and energy security for our nation.

When the Telecommunications Act of 1996 was passed, entrepreneurs focused on the communications sector, and within a decade companies like Google, Yahoo and EBay became household names and changes heretofore unseen since the Industrial Revolution occurred. It's time for another Industrial Revolution, fueled by clean energy.

Despite the capital-intensive nature of clean energy companies, the nation's entrepreneurial ecosystem is committed to building a clean energy economy for three primary reasons:

1) a strong and growing belief that concern over climate change and increasing energy demand from emerging economies have created a long term opportunity for clean energy innovation;

2) a conviction that technology and business innovation can reduce our carbon footprint and produce viable alternative energy sources at scale; and

3) the development of a favorable U.S. policy framework at the federal and state level, that has attracted large scale private funding to build the next generation of infrastructure.

However, I submit that the continued development of our clean energy economy is now at risk with the advent of the economic crisis. Large financial institutions that had begun to finance the commercialization of clean energy technologies have suddenly lost their capacity to do so. Chief executive officers of emerging clean energy companies now have genuine fears as to whether enough capital will be available to fuel their growth. Furthermore, the slowdown of emerging economies as well as a dramatic reduction in the price of oil further hinders the situation. Investors and entrepreneurs alike are forced to reconsider funding this sector, worried that this may lead to another false start akin to the setback in the early 1980s.

The newly elected administration must show its full resolve and partner with the entrepreneurial ecosystem by reinforcing our national commitment to achieve energy independence and curb global warming. Swift and comprehensive action is required.

First, the incoming administration must make a significant financial commitment towards research and development of clean energy technologies. ...

Second, the Obama administration must develop a comprehensive national policy framework to build and adopt alternative energy solutions. We need a national cap and trade legislation; an aggressive renewable portfolio standard to reduce our dependence on oil and drive the adoption of all forms of clean alternative energy; and energy efficiency programs through regulations and incentives for utilities that can increase the energy productivity of our nation. ...

Finally, the administration needs to have an unbiased strategy for lending its financial support to this sector. The federal government shouldn't be in the business of picking technology winners. Instead, it should lend support to all sustainable clean alternative technologies that have a roadmap to economic viability without any subsidies.

2 comments

Anonymous   says 9:30 AM

Big Gav I think that we have a long way to go with regards to reaching maturity for our market segment. This is a good thing. You cited Google, Yahoo etc but those companies were a manifestation of the primary technology and the same phenomena will occur in the clean energy field with regards to spin off industries.
There is a host of industries that can spin off of a cheap reliable source of clean energy and water. This is not only smart for Americans to invest in its own infrastructure but more importantly to keep those petro dollars from leaving the United States bound for countries who hate us. The only drawback is that at the end of the day we are left with a planet with clean air and water!

Sure - there is a long way to go and we are nowhere near maturity.

Its important to keep stating what the goals are - clean, cheap, abundant energy from secure, renewable sources.

Post a Comment

Statistics

Locations of visitors to this page

blogspot visitor
Stat Counter

Total Pageviews

Ads

Books

Followers

Blog Archive

Labels

australia (619) global warming (423) solar power (397) peak oil (355) renewable energy (302) electric vehicles (250) wind power (194) ocean energy (165) csp (159) solar thermal power (145) geothermal energy (144) energy storage (142) smart grids (140) oil (139) solar pv (138) tidal power (137) coal seam gas (131) nuclear power (129) china (120) lng (117) iraq (113) geothermal power (112) green buildings (110) natural gas (110) agriculture (91) oil price (80) biofuel (78) wave power (73) smart meters (72) coal (70) uk (69) electricity grid (67) energy efficiency (64) google (58) internet (50) surveillance (50) bicycle (49) big brother (49) shale gas (49) food prices (48) tesla (46) thin film solar (42) biomimicry (40) canada (40) scotland (38) ocean power (37) politics (37) shale oil (37) new zealand (35) air transport (34) algae (34) water (34) arctic ice (33) concentrating solar power (33) saudi arabia (33) queensland (32) california (31) credit crunch (31) bioplastic (30) offshore wind power (30) population (30) cogeneration (28) geoengineering (28) batteries (26) drought (26) resource wars (26) woodside (26) censorship (25) cleantech (25) bruce sterling (24) ctl (23) limits to growth (23) carbon tax (22) economics (22) exxon (22) lithium (22) buckminster fuller (21) distributed manufacturing (21) iraq oil law (21) coal to liquids (20) indonesia (20) origin energy (20) brightsource (19) rail transport (19) ultracapacitor (19) santos (18) ausra (17) collapse (17) electric bikes (17) michael klare (17) atlantis (16) cellulosic ethanol (16) iceland (16) lithium ion batteries (16) mapping (16) ucg (16) bees (15) concentrating solar thermal power (15) ethanol (15) geodynamics (15) psychology (15) al gore (14) brazil (14) bucky fuller (14) carbon emissions (14) fertiliser (14) matthew simmons (14) ambient energy (13) biodiesel (13) investment (13) kenya (13) public transport (13) big oil (12) biochar (12) chile (12) cities (12) desertec (12) internet of things (12) otec (12) texas (12) victoria (12) antarctica (11) cradle to cradle (11) energy policy (11) hybrid car (11) terra preta (11) tinfoil (11) toyota (11) amory lovins (10) fabber (10) gazprom (10) goldman sachs (10) gtl (10) severn estuary (10) volt (10) afghanistan (9) alaska (9) biomass (9) carbon trading (9) distributed generation (9) esolar (9) four day week (9) fuel cells (9) jeremy leggett (9) methane hydrates (9) pge (9) sweden (9) arrow energy (8) bolivia (8) eroei (8) fish (8) floating offshore wind power (8) guerilla gardening (8) linc energy (8) methane (8) nanosolar (8) natural gas pipelines (8) pentland firth (8) saul griffith (8) stirling engine (8) us elections (8) western australia (8) airborne wind turbines (7) bloom energy (7) boeing (7) chp (7) climategate (7) copenhagen (7) scenario planning (7) vinod khosla (7) apocaphilia (6) ceramic fuel cells (6) cigs (6) futurism (6) jatropha (6) nigeria (6) ocean acidification (6) relocalisation (6) somalia (6) t boone pickens (6) local currencies (5) space based solar power (5) varanus island (5) garbage (4) global energy grid (4) kevin kelly (4) low temperature geothermal power (4) oled (4) tim flannery (4) v2g (4) club of rome (3) norman borlaug (2) peak oil portfolio (1)