Bail-Out or Buy-In? Government in the Downturn

21 May 2009


Steve Rayner, Director of the Institute for Science, Innovation and Society, was quoted in Low Carbon Board Report in an article titled, "Bail-Out Or Buy-In? Government In The Downturn." Professor Rayner suggested that the UK government could learn from examples such as Germany and particularly the US, saying: "One of the significant commitments made by Obama is not just to support R&D work, but the demonstration and deployment of green energy.

He went on to say, "We can’t make the reduction in emissions we need by efficiency measures alone - what we need is a technological transformation. What I mean by that is we have to bring down the cost of non-fossil fuels rapidly, and governments need to focus on sources of green energy that are between three and fifteen years away from being competitive. Those under three years will be picked up by venture capitalists, those further than fifteen years away will be too late."

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