Warren, Huffman Reintroduce Bill to Invest $400 Billion in Clean Energy Research and Technology

Warren, Huffman Reintroduce Bill to Invest $400 Billion in Clean Energy Research and Technology

United States continues to lag behind other industrialized countries in public investments in research and development

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Washington, D.C. - United States Senator Elizabeth Warren (D-Mass.) and Representative Jared Huffman (D-Calif.) reintroduced the National Institutes of Clean Energy Act (NICE), legislation that would invest $400 billion over the next decade to establish and operate a new system of institutes at the Department of Energy focused on research and development of advanced clean energy technologies. The Clean Energy Institutes, modeled after the National Institutes of Health, would invest in clean energy science, innovation, and research and development to support projects that help reduce carbon emissions and build climate resilience.

The United States has the highest GDP in the world but ranks 13th globally for how much of its capital gets invested in public research and development. Because these funds directly contribute to the generation of knowledge and advanced technologies, how much the United States spends on research and development provides a snapshot of how innovative the economy truly is. By making smart investments in the nation's future, the United States can begin developing new technologies to combat the climate crisis and strengthen the nation's resilience.

"When it comes to climate change and the future of our planet, the United States cannot afford to fall behind, said Senator Warren. "We need to lead the way in climate-related innovation and the fight for a better, cleaner planet."

The funding established in the bill would support:

• Developing advanced energy technologies in hard-to-decarbonize sectors, like aviation and shipping;

• Focusing on clean energy research areas that are underrepresented in existing federal research and development funding, such as long-duration grid storage;

• Developing projects on the impacts of energy production in frontline communities, including communities of color and low-income communities, that have been disproportionately impacted by environmental injustices;

• Supporting research and development projects focused on the impacts of clean energy and energy production on job loss, job creation, and workforce development.

Moreover, the National Institutes of Clean Energy Act funding prioritizes research and development of technologies that:

• Minimize environmental harms and negative public health impacts on frontline and disadvantaged communities and create high-quality jobs with strong labor standards within these communities;

• Are conducted at public universities, land grant colleges and universities, and minority-serving institutions, including historically Black colleges and universities;

• Are developed in areas that have seen the worst job losses over the past five years - including rural areas and areas impacted by deindustrialization.

"Investing in clean energy research and development is essential to addressing the climate crisis and boosting our economy," said Rep. Huffman. "The NICE Act is a prime example of how the United States can accelerate the transition to a clean energy future by fostering innovation in green technology."

In the Senate, this legislation is co-sponsored by Senators Alex Padilla (D-Calif.), Bernie Sanders (I-Vt.), and Chris Van Hollen (D-M.D.).

The legislation is endorsed by MoveOn, Center for Progressive Reform, Earthjustice, Friends of the Earth, New Consensus, Public Citizen, Climate Hawks Vote, and Zero Hour.

Senator Warren has long worked to protect taxpayer money and ensure strong implementation of climate policy:

• In September 2024, Senators Elizabeth Warren and Angus King, along with Representatives Ro Khanna, Alma Adams, Pramila Jayapal, and Jan Schakowsky, wrote to the U.S. Department of the Treasury (Treasury), the Internal Revenue Service (IRS), and the U.S. Environmental Protection Agency (EPA), urging the agencies to develop strong guardrails for the 45Q tax credit, which is designed to encourage carbon capture and sequestration (CCS) projects.

• In June 2024, Senator Elizabeth Warren and Representative Sean Casten led a letter to the Federal Reserve Board (Fed), Federal Deposit Insurance Corporation (FDIC), and the Office of the Comptroller of the Currency (OCC), urging regulators to stop their obstruction of global financial regulators' work to tackle climate-related financial risks. The lawmakers also called out the weaknesses revealed by the Fed's 2023 "pilot scenario analysis" exploring six major banks' resilience to climate-related financial risks.

• In May 2024, Senator Elizabeth Warren and Congressman Robert Garcia reintroduced the BUILD GREEN Infrastructure and Jobs Act, which would authorize the U.S. Department of Transportation to distribute $500 billion over ten years to electrify and modernize public vehicles and rail and build new electric transportation infrastructure across the country. The bill would also create 1 million new jobs, save $100 billion annually in health damages, and prevent 4,200 deaths per year from air pollution.

• In April 2024, Senator Elizabeth Warren and Representatives Sean Casten and Veronica Escobar, urged the Federal Acquisition Regulation (FAR) Council, composed of the Department of Defense (DoD), General Services Administration (GSA), and the National Aeronautics and Space Administration (NASA), to finalize the Federal Supplier Climate Risks and Resilience Rule as quickly as possible.

• In March 2024, Senator Elizabeth Warren, released a statement describing the Securities and Exchange Commission's (SEC) finalized climate risk disclosure rule as "the bare minimum."

• In September 2023, Senators Elizabeth Warren, Bernie Sanders, Martin Heinrich, Ed Markey, Sheldon Whitehouse, and Jeff Merkley called on the Treasury Department to take key actions pertaining to climate and climate-related financial risk to avert the impending environmental and economic crises.

• In September 2023, at a hearing of the Senate Banking, Housing, and Urban Affairs Committee, Senator Elizabeth Warren urged Chair Gensler to quickly finalize a strong climate risk disclosure rule, reminding him that he has a mandate to protect investors and strong public support.

• In March 2023, Senators Elizabeth Warren, Sheldon Whitehouse, and Representatives Dan Goldman and Jamie Raskin and 47 of their colleagues sent a letter to SEC Chair Gary Gensler, urging him to protect investors and finalize a strong climate disclosure rule without further delay.

• In September 2022, at a hearing of the Senate Banking, Housing, and Urban Affairs Committee, Senator Elizabeth Warren called on SEC Chair Gary Gensler to protect investors and stand up to fossil fuel lobbying by issuing a strong climate risk disclosure rule quickly.

• In June 2022, Senator Elizabeth Warren led a comment letter with Senators Sheldon Whitehouse and Brian Schatz on the SEC's mandatory climate disclosure rule, highlighting several areas for improvement and key elements that the SEC should preserve in its final rule, including strong Scope 3 emissions disclosure requirements.

• In March 2022, Senator Elizabeth Warren led a letter with Senators Sheldon Whitehouse and Brian Schatz urging the SEC to require disclosure of anti-climate lobbying activities in the Commission's rule.

• In May 2021, Senator Elizabeth Warren and then-Congressman Andy Levin introduced the Buy Green Act to use the enormous breadth of U.S. federal procurement to help fight the climate crisis, spur innovation, and boost demand for American-made clean energy products at home and in the rapidly-growing markets for green products abroad.

• In May 2021, Senator Elizabeth Warren and then-Congressman Andy Levin introduced the National Institutes of Clean Energy Act of 2021, legislation that would invest $400 billion over the next ten years to establish and operate a new system of institutes at the Department of Energy dedicated to research and development (R&D) of advanced clean energy technologies.

• In April 2021, Senator Elizabeth Warren and Representative Sean Casten reintroduced the Climate Risk Disclosure Act of 2021 which would reduce the chances of environmental and financial catastrophe by requiring public companies to disclose more information about their exposure to climate-related risks.

• In March 2021, Senator Elizabeth Warren unveiled the BUILD GREEN Infrastructure and Jobs Act which would invest $500 billion over ten years in state, local, and tribal projects to jumpstart the transition to all electric public vehicles and rail and help modernize the nation's crumbling infrastructure.

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