Unlocking energy innovation : how America can build a by Richard K. Lester

By Richard K. Lester

"The authors define 3 waves of strength innovation to bare how the USA can accelerate the creation of latest applied sciences and enterprise types and speed up deployment on an enormous scale"--Provided by means of publisher.

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Extra info for Unlocking energy innovation : how America can build a low-cost, low-carbon energy system

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S. Energy Information Administration, Office of Coal, Nuclear, Electric, and Alternate Fuels, “Federal Financial Interventions and Subsidies in Energy Markets 2007,” SR/CNEAF/2008-01, April 2008. An Energy Innovation System That Works 43 program (and associated tariffs on cheaper ethanol imports) has done little to reduce either energy imports or—despite claims to the contrary— net carbon dioxide emissions, and it has been quite costly to taxpayers and consumers. All of this has long been known, yet the program continues.

Private innovators and their investors assume an increasing share of costs and risks in the demonstration stage, compared to the option creation stage—in some cases they assume all the cost and risk. But the time horizon may be too long and the risk level too high for private investors to be willing to underwrite demonstrations for complex, large-scale technologies. Other important tasks at this stage include settling on standards and infrastructure requirements and identifying key legal and regulatory barriers that will need to be overcome for widespread use.

The mass deployment of electric vehicles will require not only advances in battery technology, but also a new battery recharging infrastructure, repair and maintenance capabilities, and significant modifications to the vehicle manufacturing supply chain. Because of the long lead-times involved, the country cannot afford to place its hopes on achieving a truly radical technological transformation of the energy infrastructure during the next few decades. Rather, energy innovation during this period should focus on bringing down the costs, improving the scalability, integrating diverse components, and reducing the environmental impacts of energy systems that not only are identifiable today but in many cases are already in the marketplace or under development.

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