From Forbes Contributor, Matthew Stepp
Most clean energy advocates today will likely tell you that America’s clean energy economy is doing quite well, despite the negative media coverage. Andrew Winston best captured this sentiment in BusinessWeek calling naysayers “dead wrong” and citing that electricity sourced from renewables doubled from 3 percent to 6 percent in just the last four years.
What Andrew – and other advocates like him – refuses to see is that while clean energy has made progress, the fundamentals of America’s clean energy economy are not strong. The warning signs are staring us in the face.
The first sign is America’s dwindling investments in clean energy innovation. According to ITIF’s Energy Innovation Tracker, the Stimulus temporarily increased investments in clean energy research, development, testing, and demonstration to $7 and $8 billion in 2009 and 2010 respectively, only to reduce investments to $6 billion today …
In other words, the United States is underinvesting in clean energy innovation at a time where we need more next-generation clean energy technologies, not less.
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