Further Energizing Innovation: Assessing the Federal Energy RD&D Budget for FY24 and Beyond
The fiscal year 2024 budget is an opportunity to continue the momentum of U.S. investment in energy innovation. The Investment in Infrastructure and Jobs Act, CHIPS and Science Act, and the Inflation Reduction Act provide for a major expansion of federal investment in technologies and capabilities at the forefront of the clean energy revolution. All told, lawmakers have approved more than $40 billion and authorized more than $35 billion for investments in clean energy research, development, and demonstration (RD&D). Congress and the Biden administration should pursue this opportunity to accelerate energy innovation and improve U.S. manufacturing competitiveness by ensuring the three bills are implemented effectively. Does the president’s budget proposal for fiscal year 2024 align with those considerations, or should lawmakers move in different directions in their final budget?
Watch the Center for Clean Energy Innovation’s release event covering their annual report on the federal energy RD&D budget; discussion by expert panel covering how the funding aligns with these key priorities.