Budget Proposal Would Sustain Bipartisan Momentum for US Clean Energy Innovation, ITIF Says

March 28, 2022

WASHINGTON—Following the release of the administration’s budget proposal for fiscal year 2023, the Information Technology and Innovation Foundation (ITIF), the leading think tank for science and technology policy, released the following statement from Senior Fellow David M. Hart, director of ITIF’s Center for Clean Energy Innovation:

The administration’s budget proposal for the coming fiscal year is an encouraging sign for the progress of clean energy innovation. If Congress were to enact it, it would sustain the momentum of federal programs provided by the bipartisan infrastructure law and the previous year’s budget. The United States has begun to accelerate its investment in research, development, demonstration, and early deployment of promising climate solutions. Continuing along this trajectory while maintaining the reliability and affordability of the U.S. energy system is vital to avert the worst impacts of climate change and support the competitiveness of U.S. climate-tech developers and manufacturers.

ITIF Senior Policy Analyst Hoyu Chong added:

The fiscal 2023 budget proposal, as described by OMB, includes $9.2 billion in clean energy research, development, and demonstration funding at the Department of Energy. It would keep the United States on a path to triple clean energy innovation investments by 2025, as ITIF recommended in its 2020 report, “Energizing America.” The administration’s budget for energy innovation would add considerably to the $41.7 billion for such investments provided by the bipartisan infrastructure bill over the next five years. Congress’s annual appropriations must continue to grow rapidly in fiscal year 2023 and beyond so clean energy innovators don’t run into a fiscal cliff when funding from the infrastructure bill runs out. 

As a share of the economy, federal funding for energy innovation has lagged far behind other national innovation missions, such as health and defense, as well as that of many other nations. ITIF calls on Congress to support an investment in innovation that is commensurate with the challenges and opportunities of the global energy transition.

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Budget Proposal Would Sustain Bipartisan Momentum for US Clean Energy Innovation, ITIF Says