A major emphasis is placed on the role of the federal government. Why?
The federal government has long been a player in the energy world in two ways – funding research and development and helping to create markets for the innovations that result. Those roles are just as important today. Industry systematically under-invests in longer-term, riskier research in all fields, and energy is no exception. The problem is even worse in the buildings areas where most companies are small and do not have the wherewithal or the interest to invest in research. But research is not the whole problem. Systematic market failures limit the interest in energy-saving technologies in many areas, even though they are of great importance to the nation as a whole. One problem is that the savings are often small for the individual consumer and accumulate only over time, but the impact is enormous for the entire economy. The federal government needs to help create markets for these products, which do save consumers money. Today’s refrigerators, for example, use far less electricity
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- A major emphasis is placed on the role of the federal government. Why?
