With the House of Representatives passing the America COMPETES Act, which seeks to make the U.S. more competitive with other countries including China, it also includes provisions from the CHIPS for America Act which would give $52 billion to semiconductor chip manufacturers with the goal of bringing the production of chips back to the U.S. as demand for the technology rises.
While the U.S. Congress funds billions in grants to chipmakers including Goliaths such as Micron and Samsung, many emerging alternative energy companies – who don’t have billions in the bank like the chipmakers – beg for their supper.
It’s time for Congress to back a ‘Renewables for America Act’ to provide upstart alternative energy companies the support they need to survive. Biden’s White House has set a goal to reach 100 percent carbon pollution-free electricity by 2035. This can only be achieved by investing in the companies that are actively producing the technology to produce meaningful emissions reductions in this decade.
Renewable energy companies are looking to Biden’s leadership to open up new doors for government research grants. Around the world, countries look to America as a model to emulate to produce and deploy clean technologies to build a sustainable future. By bolstering domestic supply chains and manufacturing American-made, clean energy products to sell nationally and internationally, we will reach our goals of carbon neutrality.