With the cap and trade approach to energy and climate change stalled, many groups are offering up alternatives. Among the recent entrants is a proposal from The Coalition for Green Capital (CGC) and the Center for American Progress (CAP) called Cutting the Cost of Clean Energy 1.0 Plan. The plan focuses on infrastructure, regulation, and deployment financing and would create an Energy Innovation Trust that can borrow funds from the Treasury to offer low-cost financing for clean energy development projects, smart grid development, and energy efficiency projects for homes and businesses. In a blog post, ITIF analysts Matthew Hourihan and Matthew Stepp explain that there are definitely some things to like here but the plan comes up a little short when it comes to pushing for energy innovation. The market can only go so far in developing and deploying the truly transformative technologies we need. A comprehensive energy innovation agenda is needed for these advances.
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June 12, 2014