Sec. 2. Findings
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Congress finds the following: In order to achieve domestic and international net-zero greenhouse gas emissions targets, a rapid and substantial investment in clean energy innovation is needed. Clean energy technologies face unique obstacles to successful commercial application, including high up-front capital costs, long development times, and the need to displace incumbent technologies in highly regulated markets. Multiple technology development and financing gaps exist in the clean energy innovation and commercial application landscape that are not currently met by private sector investment alone.
Federal investments in technology transfer and demonstration programs help fill existing gaps in the innovation cycle and improve the likelihood of successful and timely commercial application of clean energy technologies. To maximize clean energy innovation’s positive impact on United States economic competitiveness and reach net-zero greenhouse gas emissions, the Department of Energy must show significant leadership in enabling the transfer of new technologies to the private sector, particularly through the Office of Technology Transitions.