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Change is Now: Opportunity for Critical Clean Technology
December 18, 2008

During the run-up to November 4th it seemed like the entire country was screaming in unison for “Change.” As I watch the President-Elect’s environmental priorities and policies take shape I think the new national rallying cry should be “Opportunity.” This election made crystal clear the American people’s demand for a national energy policy focused on green and renewable sources. Not only is it the right call for the environment and for our national security, I believe such a policy will provide unprecedented opportunities for clean technology companies, their employees and their investors while at the same time helping get the country back on the right economic path by creating jobs, taxes and other critical economic stimulus benefits. And most importantly, move us rapidly towards energy independence.

As it stands today, the Obama energy plan calls for investment of $150 Billion in clean technologies over the next ten years. As part of the plan the President-Elect is pledging to:

~ double energy R&D funding,
~ convert the nation’s manufacturing centers into clean technology masterpieces,
~ commercialize and deploy cellulosic ethanol,
~ expand locally-owned biofuel refineries,
~ require a national 25% renewable electricity standard by 2025, and,
~ invest $50 billion in the Clean Technologies Venture Capital Fund over the next five years.

For smart businesses ready today to take lead-steer positions on key environmental issues and help shape the national dialogue, the Obama energy plan may well represent an opportunity unlike anything seen before. That said, ‘today’ is the key part of that statement. The President-Elect is not waiting until Inauguration Day to begin and this train is warming up and about to ready the station.

Given the dollar amounts involved, the Obama Administration will first need to engage the Congress and a multitude of Federal agencies before it can turn its environmental vision into a reality. The drafting and submission of a massive new energy bill (or a series of bills) will soon commence and a spirited debate is expected in Congress as the Administration presses for passage of the legislation. Intense public interest…and public need…will mandate swift action on the Hill and the window of opportunity will quickly close for companies seeking to be a part of the process…and share part of the opportunity.

Right now, clean technology companies should be launching public and government relations campaigns if they hope to contribute to the national energy plan and create a receptive environment for putting those dollars into action. Flags must be immediately planted in Washington while the legislation is still in a conceptual state, before the drafting is finalized and while the guiding principles are being discussed by members of Congress, their staffs, and the soon-to-be-confirmed top energy officials in the Obama Administration.

The next two to three months are going to be intense. Many companies’ futures will be made and many more will miss out. For those of us who do this for a living, and who will be neck deep in the process on behalf of tomorrow’s clean technology leaders, it will no doubt be an exciting reminder of why we got into this business in the first place.

Posted by Michael Kempner at December 18, 2008 01:29 PM