Last month, President Obama stood up at Buckley Air Force Base and vowed not to walk away from the promise of clean energy. That he chose Colorado for his speech is telling. With a strong military presence and a vibrant advanced energy entrepreneurial community — Colorado has ranked third in clean technology venture investment for the past three years — the state is poised as the laboratory of the nation’s energy future.
Should we stick to what we’ve relied on for the last 50 years and accept the economic insecurity that goes along with oil shocks, rising prices and concerns about foreign dependence? Or should we pursue a new path that gives America a greater say about its energy and economic future?
That debate is already well underway in Colorado, spurred by a mandate that 30 percent of the state’s energy be supplied by renewables by 2020. Every time gas prices shoot up over $4 a gallon — as four out of five Americans believe it will in the next five years, according to a recent poll — the controversy heats up. But this debate isn’t about our current energy needs; it’s about the future.
Global energy consumption is projected to rise more than 50 percent by 2035, so we must find new ways to meet the world’s energy needs. We need new energy solutions that are cost-effective, price-competitive, applicable on a wide scale, and secure in their sources — what we call “advanced energy.”
Electric and plug-in hybrid cars, lightweight composites for airplane bodies, natural gas-fueled trucks, high performance buildings, more efficient industrial processes, and the latest wind, solar, and nuclear technologies are all examples of advanced energy that produce energy savings, use resources more productively, reduce dependence on foreign oil, and diversify our energy sources.
Advanced Energy Economy, a new national business group with chapters around the country — the Colorado Cleantech Industry Association is one of the first — is dedicated to seeing the United States make the most of the business opportunity advanced energy represents.
Americans understand how expanding our energy sources and making our energy use more efficient make sense. According to a national survey conducted by AEE, a majority of Americans say that efforts to make greater use of energy-saving technologies create jobs and help the country by making our economy more productive and competitive.
At the national level, the debate over our energy future has become politicized and polarized, creating an uncertain environment for investment in all forms of advanced energy. But it does not have to be this way. California, Colorado, Connecticut, Kansas, Massachusetts, Ohio, New Jersey and Texas have all created business climates conducive to the growth of advanced energy — and are reaping the benefits in economic growth and competitiveness.
You can see it here in Colorado. Home to the National Renewable Energy Laboratory and supportive of advanced energy, Colorado is a hotbed of energy innovation and entrepreneurship.
There are startup, growth stage, and mature advanced energy companies all over the country. Now, these companies and groups like Colorado Cleantech Industry Association that represent them are coming together under the banner of Advanced Energy Economy to create a better business climate for advanced every growth in every state and in the nation as a whole.
With nearly $250 billion invested worldwide last year and growing at 30 percent per year, advanced energy is the first big market opportunity of the 21st century. It’s time for the United States to go after it.
Tom Steyer of Farallon Capital Management is a co-founder of Advanced Energy Economy. Tom Clark is CEO of the Metro Denver Economic Development Corporation.
