Future of Energy Lies in Unscaling Energy

by Sharon Ha

In this TechCrunch article, Hemant Taneja, founder of Advanced Energy Economy, and Managing Director at investment firm General Catalyst, predicts that solving climate change and the energy crises lies in unscaling energy; creating alternatives to large power plants. He asserts that the government and energy companies need to support and incentivize entrepreneurs to rethink existing energy markets; less than 2% of the Federal Research & Development budget was spent on energy and big energy companies spend only 0.3% of their revenue on energy R&D. However, energy must become more of a priority because not only will unscaling energy allow for more creative and accessible solutions and prevent further climate change, it will also help the job market and lead to economic growth. Taneja predicts that new technology and entrepreneurship in energy will reinvigorate the market and consumer transactions, much like the inventors of Uber or Skype did to the transportation and communications markets. Continue reading