Renewable Energy R&D Should Be A Priority in the Stimulus Package
In order for the “green-collar” jobs component of the Economic Stimulus package to be sustainable, the technologies needed to produce inexpensive sustainable renewable energy have to be available. Unfortunately, because of a lack of government and private R&D investment in the areas of biofuels, fuel cells, and solar power, that extends back to the first Reagan Administration, these highly efficient and sustainable technologies are not commercially available.Vote for this item on www.Change.gov in the Environment and Energy or Economics sections.
While the increase in oil prices over the last seven years has caused some increase in Federal R&D spending, most projects are still woefully underfunded. The result is many promising technologies are being delayed, and project managers at the Departments of Energy and Agriculture, as well as the National Science Foundation, have stacks of much needed projects that go unfunded. In addition, with the collapse of the private credit market, most small renewable energy R&D businesses are stuck in the “Valley of Death” between research and commercialization. The solution would be relatively small amounts of Government R&D money to fund small-scale prototype projects.
While the long-term economic benefits of renewable energy research are very important for Energy Security and Climate Change mitigation, their short-term economic stimulus effect should not be overlooked. Renewable Energy R&D money will be spent immediately on researcher salaries and US produced high-value supplies and equipment. This means good jobs with a future for recent graduates as well as unemployed or underemployed scientists and engineers. And, as compared to many new infrastructure projects, Renewable Energy R&D money will provide an immediate economic stimulus throughout the country.
The funding mechanisms to support Renewable Energy R&D already exist. Both Title II of the 2007 Energy Bill and Title IX of the 2008 Farm Bill contain very good basic research, applied research, and prototype programs. Unfortunately, the 110th Congress never allocated the funding levels approved. Full funding of the House of Representative’s approved budgets for these programs would go a long way to provided not only short-term economic stimulus but would also truly improve the country’s energy security, reduce greenhouse gases, and help create a sustainable, long-term “green-collar” industry.
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