President Obama to Discuss Energy Innovation at Penn State

In the week since his State of the Union speech – where the topics of job creation, innovation, and clean energy, all which are hallmarks of competition, were a focus – President Obama has been on the road promoting specific initiatives to help achieve his broader energy agenda. On Thursday, he’ll visit Penn State University to acknowledge their ongoing efforts in energy innovation and highlight the importance of greater investment in clean energy.
 
The President was smart in selecting a trip to Penn State. The university has made a significant commitment to clean energy research. In fact, last year – with support from several COMPETE members – it launched an initiative to explore the economic and environmental impacts of competitive energy markets in Pennsylvania. The project, called the Electricity Markets Initiative (EMI), currently serves as a resource for Pennsylvania policymakers as they consider how to best achieve the Keystone State’s electricity needs and environmental objectives, and should be considered an excellent resource for lawmakers in other states and on the federal level as well. 
 
Reports produced by EMI confirm the societal benefits derived by competition – whether it’s fostering innovation, spurring job creation, or advancing clean energy solutions. On clean energy, EMI notes:
 
As the nation seeks to protect our environment and mitigate the impacts of climate change, competitive markets are one step ahead, leading the charge in the development of clean and renewable energy. For example, more than 70 percent of wind energy resources are in competitive markets despite the fact that only 44 percent of wind energy potential is found in these areas. Market forces ensure that investments are made in the right places with cleaner, more efficient and innovative technologies.
 
President Obama discussed the importance of clean energy in his address last week. By recognizing and leveraging the success of competitive markets across the country, America can be one step closer to realizing this critical energy goal.

Joel Malina | February 1, 2011