Clean energy solutions for tackling climate change require major funding and a great deal of innovation. America’s private sector seems do well with homegrown innovation. Recognizing America’s great reputation for solving colossal issues, the White House Office of Science and Technology held a Clean Energy Investment Summit on June 16, 2015.
The event recognized the sizeable value of innovators in clean-energy technologies for transitioning to a low-carbon economy. At the Summit, the Administration announced a $4 billion investment by major foundations, institutional investors, and others in financial support for cleaner energy solutions. An initial investment goal of $2 billion set at the Clean Energy Investment Initiative held in February was far surpassed by this recent announcement.
The Summit is not the only major action the Administration is taking to develop clean-energy innovation through private-sector investment. Other projects include:
- a Clean Energy Impact Investment Center at the U.S. Department of Energy to provide more accessible information about energy and climate programs to the public,
- refining finance options from the U.S. Small Business Administration for private investment funds, and
- issuing guidance on impact investments in clean energy technology.
Past investments have already provided groundbreaking inventions from US innovators and entrepreneurs, with major improvements in areas including solar energy, wind energy, and superior battery technology.
These advancements are just the beginning, however, and there is a long way to go towards a low-carbon economy. But with major investments like those coming out of these government-sponsored initiatives, we are one step closer to making remarkable clean energy innovations and solutions a reality.