Hoyu Chong

In the Annual Energy Outlook 2022, the Energy Information Administration forecasts that if current policy and technology trends continue, U.S. energy-related emissions would decline only 2 percent from 2021 to 2050. The message is clear: To leap from a 2 percent decline to a 100 percent decline in GHG emissions, the United States must continue to encourage and support continued innovation in energy.

The FY 2023 budget request signals America’s commitment to sustaining bipartisan momentum for clean energy innovation. Congress should seize this opportunity to accelerate domestic clean energy industries and shape the U.S. response to climate change.

At last year’s Glasgow Climate Conference, countries pledged to increase public and private finance, set common targets under the Breakthrough Agenda, and accelerate electric vehicle deployment, among many other goals.

Accelerating clean energy innovation is critical to avert the worst effects of climate change, but the global energy innovation system is in poor health, with weaknesses across most indicators. Nations must rectify these weaknesses to deliver on the promises world leaders made at COP26.

Technological innovation is essential for fighting climate change, but the global clean energy innovation system is not healthy enough to drive it as quickly as it is needed.