Earth, Wind, and Fire: Why Spurring Further Innovation in Renewables Matters
If governments sustain innovation in advanced renewables—such as floating offshore wind turbines, perovskite solar PV cells, and enhanced geothermal—they can catalyze a massive clean energy buildout to reduce emissions and avoid the worst impacts of climate change. The plummeting prices and rapid expansion of solar PV and wind power are evidence of what is possible—but the renewables story should not end there. The IEA estimates renewables need to triple in the global power mix by 2050. To hit that target, they must become even more efficient, affordable, and reliable—and that depends largely on increased public investment.
ITIF’s Center for Clean Energy Innovation hosted a panel discussion on why continued innovation matters, what an innovation agenda for advanced renewables should look like, and which technologies are likely to be the next big things.