Bill Gates To Invest in Clean Energy Innovation
Bill Gates has committed to investing $2 billion in clean energy research. Although this is a massive step in the right direction, Gates expressed that it’s still not enough to get us where we need to be and the nation needs more R&D funding.
Gates claim is true, but we have seen drastic reductions in cost over the past few years. Lazard, a Wall Street investment firm, recently released a report showing that the cost of wind and solar energy has dropped by about 58% and 78%, respectively, in the last five years.
The decline in prices is due to an increase in the deployment of renewable energy. Researchers at the Lawrence Berkeley National Laboratory have found that stable deployment policies decreases costs by allowing businesses to make long-term investments in manufacturing facilities, training and private R&D.
To continue in the direction towards clean energy innovation, research into new technologies is imperative to the solution, but we must create policies that permit the country to use the advanced technologies we already have in an efficient manner.
Source: Huffington Post