Joint Economic Committee Democrats examine barriers to clean energy innovation
Joint Economic Committee (JEC) Democrats released a report Monday that examines barriers to clean
energy innovation and provides recommendations on how Congress should address these issues.
The report, Overcoming Barriers to Clean Energy Innovation, finds that clean energy in America is being held back by an uneven playing field with traditional energy sources, incentive problems leading to underinvestment, lack of access to capital, energy systems that were designed for older technologies, fierce international competition and policy uncertainty.
“We have a great opportunity in Congress to spur innovation in the clean energy economy, which not only addresses climate change—but also boosts the overall U.S. economy, creates millions of jobs, and
establishes the United States as a global technology leader in clean energy,” U.S. Senator Martin Heinrich, Ranking Member of the Joint Economic Committee, said.
The study suggested that Congress provide financing assistance and tax credits for energy innovation, including expanding the credits that have helped spur wind and solar research and development to other technologies, such as energy storage. It also noted that a tax on carbon pollution or an emissions trading system would make competition with fossil fuels fairer.
“Through legislation like the Clean Energy Act that streamlines tax credits, we can work to dismantle the barriers to clean energy innovation and spur economic growth,” Heinrich said. “Yet, Congressional Republicans and President Trump cast investment in energy research aside and propose slashing vital programs at the Department of Energy. It’s time we take clean energy innovation seriously and work together to support innovators and entrepreneurs that will create good jobs and power the economy of the future.”
