In a conversation with a dear friend last night, the topic of energy came up. My friend passionately exclaimed, “The Government really needs to spend more money on researching better technology for renewable energy sources.” I nodded fiercely, agreeing that our society needs to wean ourselves off our dependence on fossil fuels.
But I’ve been pondering that statement, turning it over in my head. I no longer agree that the government should spend R&D money on renewable energy sources. There’s a good reason the government shouldn’t do this: The U.S. Government can’t bring products to market. The sector that has the power to effect real change is not the public but the private sector.
What’s needed is for some brave entrepreneur, or an innovative energy company, to decide that there really is a lot of money to be made in renewable energy. Someone who has the wherewithall to select the right technology, persevere in forging a market where there is none, set up a distribution system, and hang on for a long haul of challenges and setbacks. The good people at Cape Wind Associates can testify to the resistance.
Then the rest of us, consumers, will need to take an economic risk and put our money where many of our minds have always been. We’ll need to cast our dollar-vote for these new businesses, for renewable energy resources.
Government certainly does have a role, even if it’s less direct. The U.S. Government can offer tax breaks and other incentives to those willing to take such risks. Congress CAN lighten the load on the businesses willing to take on such a massive challenge. But direct action will remain the province of the business men and women who will bring the full weight of technology to bear on the eco-challenges we face. And profits will follow.