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Green Energy Technologies

Since the release of its Green Technologies report, TechNet has focused its advocacy efforts on implementing the key policy recommendations included in that report. Half of the Green Tech report’s recommendations have now been signed into law. In the coming months, congress is expected to take up legislative measures that would address climate change, transmission infrastructure and provide additional tax incentives for clean energy. TechNet will work to expand capitalization opportunities for clean tech; advocate for a national RPS and greater energy efficiency standards; development and deployment of smart grid technologies; and push for a cap and trade system that is both equitable and effective.

The energy policies adopted in recent years are an excellent first step, but there is more to be done. Achieving a clean, secure energy future requires a continued national commitment to this emerging sector to ensure. This includes:

Capitalization

• For many clean tech companies, access to capital markets has come to a near stand still, with no new initial public offerings and few secondary financings in the last year. As of January 2009, almost one-third of public U.S. biotech companies were running with less than six months worth of operating cash left. That is a 90 percent jump from 2007.
• During the economic slowdown, the government must take a more holistic approach to its direct funding and consider additional policies to improve the investment climate for American innovation and foster competitiveness.
• The government now primarily funds early- and/or late-stage project, but there has been little funding for the crucial “valley of death” in between.
• Allowing emerging companies to temporarily accelerate the use of their accumulated Net Operating Losses (NOLs) and creating additional incentives to encourage private investment would help companies needing additional capital.

Energy Consumption

• To help drive the shift to cleaner and more energy efficient technologies, the federal government should adopt a technology-neutral Renewable Electricity Standard.
• An Energy Efficiency Resource Standard (EERS) is another mechanism that the federal government should consider. Pursuing efficiency technology works. According to the University of California, energy efficiency measures and technologies have enabled California households to redirect their expenditures toward other goods and services, creating about 1.5 million jobs with a total payroll of $45 billion, driven by energy savings of $56 billion from 1972-2006.
• The federal government must lead the way in the development of a nationwide smart grid. Not only would such an upgrade in the nation’s infrastructure better manage energy consumption and facilitate the deployment of clean technologies, but also reduce carbon emissions and lower energy costs.

Climate Change

• A market-based cap and trade system would be the most environmentally effective, equitable and economically sustainable approach to reducing carbon emissions.
• Climate change poses a significant challenge to the world community, but policies to address this challenge have the potential to drive economic growth by spurring a new era of innovation. An effectively structured cap and trade program can unleash new energy technologies and innovations. It will create new opportunities for economic growth, energy security and U.S. competitiveness.