Breakthrough Energy Catalyst are looking at ways to reduce the price of green energy, with sufficient funding. Mission Possible: We’re helping heavy industry reach net-zero carbon emissions by 2050 Innovation can often, over time, reduce the price of sort after products, as a large number of companies develop more efficient, cheaper models. The microwave, for example, started out as a $12,000 luxury, but innovation across the field has driven prices down as low as $50. A new coalition, the Breakthrough Energy Catalyst is hoping to do the same with clean-energy technology, where adoption is often more expensive, known as Green Premiums. The model hopes that a relatively modest cash injection in the field of energy storage, sustainable aviation fuel and green hydrogen can reduce prices and increase overall adoption. When the first microwave oven hit the market in 1955, it cost roughly $12,000 in today’s dollars. These days you can pick one up at Walmart for $50 . It’s not hard to figure out why the cost dropped so dramatically. Microwaves had new features that customers liked, and they did some things better than gas or electric ovens. As demand for them rose, more companies got into the game, […]
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