I’ve talked a lot about how the economy is tied to investments in Research and Development, so I found this graph really interesting.
It really shows how the US has suffered under the anti-science policies of the last Presidents. When we had a strong commitment to government funded R&D and Education we were the leader in advanced technology and the world bought it from us. When we stopped the rest of the world overtook us.
As part of the stimulus package $90 Billion was given to Clean Energy Research. That $90 Billion encouraged private investors to put up over $300 Billion for research. As a result the US is going from a non-player in the Advanced Battery Market to being expected to have a 20% share by 2012. The solar power industry that the US started and then abandoned is getting a huge boost as the US is looking into the next-generation of solar cells that will cut costs in half. This would turn the US into a major producer of solar cells.
A less glamorous part of the research is to bring our current railroad system that has deteriorated from moving at 65 miles an hour to 40 mph back up and surpass its old speed going 110 mph. These innovations can be shipped around the world as most countries have a rail system that can be upgraded.
However we are not alone, China has a $740 Billion, 10-year investment into Clean Energy research. The race for Clean Energy could turn out to be like the Space Race in the 50s and 60s. If the US stays on track and continues to invest $90 Billion a year into Clean Energy to stay ahead of China the economic reward will go to the winner and since it is such a big field we are sure to win in some areas and they are sure to win in others. But the true overall winners will be the citizens of the world who will be able to enjoy nearly limitless clean renewable energy.
This investment into clean energy research is the start of our fantastic future.
By Darrell B. Nelson author of Invasive Thoughts