On February 7, CEO and Founder Ernest Moniz testified before the Senate Committee on Energy & Natural Resources on the status and outlook of energy innovation in the United States. Read an excerpt of his testimony below:
“Chairman Murkowski, Ranking Member Manchin and Members of the Senate Committee on Energy and Natural Resources, thank you for the opportunity to appear before you today to discuss the future of energy innovation in the United States.
It was my pleasure to appear multiple times before this Committee during the time I had the honor of serving as the 13th U.S. Secretary of Energy. Throughout my time of service, I found that Members of the Committee from both sides of the aisle came together on numerous occasions to support U.S. energy innovation. I hope that the 116th Congress will continue this tradition.
Much of my career has focused on energy innovation. At MIT, I established the MIT Energy Initiative, which had a significant focus on innovation in a carbon-constrained environment and engaged all of MIT’s Schools. As Secretary of Energy, I made clean energy innovation a cornerstone of the Department’s initiatives and policy. And now, at the Energy Futures Initiative, clean energy innovation is a pillar of our policy analysis. EFI has produced policy papers on important elements of energy innovation, including the national security foundation for the commercial nuclear energy sector; implementation of the 45Q tax credit program for carbon capture, utilization and storage; expanding the DOE Loan programs to leverage increased innovation in energy infrastructures; and application of blockchain technology to management of energy systems and services.
Importance of Energy Innovation
Energy innovation is the essence of America’s security and strength. Our ability to innovate is at the heart of American economic success and optimism. Innovation drives job creation, contributes to national security, addresses complex societal challenges and improves our quality of life.
For the past seven decades, the United States has been the global leader in technology and energy innovation. Central to U.S. leadership in innovation is our unparalleled innovation ecosystem which includes the Federal, state, local and tribal governments; national laboratories; research universities; the private sector; nonprofits and philanthropies.
The U.S. is undergoing rapid change in the global competitive environment, challenging America’s preeminent position but also offering immense opportunity for shaping the inevitable low-carbon global energy future. The science is clear, and the data are compelling—climate change is a major threat to our planet and to our way of life, and the clock is ticking. Nations in denial of climate change as a critical driver of an accelerated clean energy transformation will be left behind.”
Click here to download the testimony and the Executive Summary of our latest report, Advancing the Landscape of Clean Energy Innovation.
Click here to watch an archived webcast of the hearing.