Credentials:
Doctorate in Physics from UC Berkeley Member of numerous prestigious scientific societies Board member of various organizations and committees Recipient of honorary degrees from 15 universities Holds 10 patents Published over 250 scientific and technical papers Nobel Prize in Physics

Role as Secretary of Energy:
Tasked with implementing President Obama’s energy agenda Focused on investing in clean energy, reducing foreign oil dependence, addressing climate change, and creating jobs

Background:
Director of Lawrence Berkeley National Lab Professor at UC Berkeley and Stanford University Held positions at AT&T Bell Laboratories Accomplishments in atomic physics, quantum electronics, polymers, and biophysics

Initiatives and Achievements:
Co-founded BioX, a multidisciplinary research initiative at Stanford Extensive work on energy opportunities and challenges Focused on hydraulic fracturing, a regionally significant issue

President Obama’s Remarks:
Energy is crucial for the economy and national security Dr. Chu’s exceptional background makes him well-suited to lead the Department of Energy and pursue a national mission in energy

Aviation History and Government Support:
Samuel Langley’s unsuccessful attempts to build a human-powered aircraft led to criticism of government funding for aviation projects. The Wright Brothers succeeded without government support but relied on Langley’s research and the U.S. government as their first major customer. The U.S. lost the lead in aviation by World War I due to limited government investment compared to other countries.

Post-World War I Revival of the U.S. Aviation Industry:
After World War I, the U.S. recognized the economic and national security importance of aviation and provided support for research and development. The government allowed private companies to carry mail by air, creating a demand for aircraft and helping the industry grow. The goal was to transition from government support to self-sufficiency without subsidies.

Applying Lessons to Clean Energy:
The history of aviation provides lessons for supporting the clean energy industry. Government can play a role in fostering innovation and creating a market for clean energy technologies. The goal should be to transition to a self-sustaining industry without ongoing subsidies.

Growing Investments in Clean Energy:
Last year, global investments in clean energy reached a record $260 billion. Projected growth to $400-$500 billion by 2020 (according to Bloomberg New Energy Finance).

China, Korea, Germany, and Others See Opportunities:
Competition exists as countries recognize the potential of the clean energy market. High-tech manufacturing, including pharmaceuticals, electronics, airplanes, and automobiles, is also a focus.

Solar and Wind Technology Becoming More Affordable:
Prices of wind technology have decreased significantly due to learning curves. Solar prices have dropped 70% in the past two and a half years. Further reduction in solar costs by two to fourfold is expected in the next decade.

Clean Energy No Longer Dependent on Subsidies:
As the prices of solar and wind technologies continue to decline, their viability without subsidies is becoming a reality.

Global Clean Energy Trends:
10 countries have adopted renewable electricity standards. 50+ countries offer public financing for clean energy projects. Germany, Canada, and China have implemented government-backed clean energy lending programs.

China’s Dominance in Solar Manufacturing:
China’s Development Bank has provided $47 billion in credit to its wind and solar manufacturers. China is expected to surpass the US in renewable energy deployment this year. Half of the world’s solar cell and module production is now in China. China is shifting from coal-based electricity generation to renewable energy and seeking an international market.

Ohio’s Position in the Clean Energy Economy:
Ohio ranks sixth in the US for jobs in the clean economy. Ohio’s alternative energy portfolio standard promotes clean industries and job growth. The Ohio solar industry comprises 100+ companies involved in manufacturing, distributing, and installing solar systems.

Importance of Manufacturing Jobs:
Manufacturing jobs are crucial for the US economy, as they have supply chains and supporting service industries. Importing and exporting goods are necessary, and the US must maintain a competitive manufacturing sector.

Offshore Wind Potential in the Great Lakes:
The Great Lakes region has 742 gigawatts of offshore wind potential. Developing reliable and productive offshore wind is a priority for self-sufficiency in energy.

President Obama’s Investments in Clean Energy:
$90 billion invested in clean energy through the Recovery Act, including $800 million in Ohio. Investments aim to promote energy efficiency, modernize the grid, deploy renewable energy, and support advanced vehicle manufacturing. Doubling renewable energy generation is a goal for President Obama’s first term.

Tax Credits and Weatherization Programs:
Tax credits and grants have been effective in promoting energy projects. Ohio has weatherized over 40,000 low-income homes. Efforts are underway to create self-sustaining business models for energy savings.

Investing in the Future of Clean Energy:
The US is investing in the next generation of clean energy technologies. The goal is to create sustainable business models that can operate without government subsidies.

Domestic Car Production for Global Export:
Shift in focus towards producing cars in the United States for export to global markets. Inspiration from the success of countries like Germany, Japan, and Korea in exporting cars worldwide.

Growing Global Demand for Cars:
China and India’s rapidly growing economies are expected to drive a significant increase in global car demand. Potential for global car ownership to reach $2 billion by 2050.

Energy Efficiency as a Global Market Demand:
International consumers are demanding cars that not only perform well but are also energy efficient. American car manufacturers must prioritize energy efficiency to remain competitive in the global market.

Ambitious Goal of Reducing Oil Imports:
Aim to reduce oil imports by a third by 2025. Strategies include increased fuel efficiency in automobiles and advancements in fossil fuel technology.

Clean Energy Leadership:
Steven Chu highlights the recent increase in oil production in the US while emphasizing the need to reduce dependence on foreign oil.

Investment in Clean Energy:
The US briefly regained leadership in clean energy investments due to policies in the Recovery Act but this progress may be short-lived.

Loan and Tax Credit Programs:
The loan program (1705) and tax credit program (1603) for clean energy have ended, while the production tax credit for wind and solar is set to expire in 2012, potentially leading to a decline in investments.

Fiscal Challenges:
Chu acknowledges the tight fiscal budget and large deficit, emphasizing the need to aggressively reduce deficits. However, he stresses that budget cuts should not be evenly distributed and that investments in clean energy should be prioritized.

Global Recognition of Clean Energy:
Other countries, such as Great Britain, are recognizing the importance of clean energy and are making investments in this area.

Technological Advantages:
Chu emphasizes the US’s strength in clean energy technology, describing it as a “sweet spot” where the country can continue to be the most innovative in the world.

U.S. Research and Innovation Excellence:
Steven Chu highlights the U.S.’s unparalleled research universities, intellectual power, and entrepreneurial ecosystem. American research universities are the most innovative in the world. The U.S. boasts a robust venture capital system that supports innovation.

Importance of Government Policies:
Government’s role in promoting clean energy innovation and competitiveness. Government can act as an early adopter to stimulate market demand. Subtle government policies can guide private investments in clean energy. Importance of leveraging the strength of the U.S. capital markets.

Domestic Demand and Ending Fossil Fuel Subsidies:
The need to create domestic demand for clean energy technologies. Emphasizes the lengthy subsidies provided to oil and gas industries and calls for their eventual elimination. Technological advancements are accelerating, making subsidies less necessary.

Collaboration with Congress and Senator Sherrod Brown:
Dialogues with members of Congress to strengthen American competitiveness and clean energy. Senator Sherrod Brown’s tireless advocacy for these initiatives.

U.S. Leadership in Clean Energy Innovation:
The U.S. has a history of leading clean energy innovations. Examples include the invention of the silicon photocell, wind turbines, and the lithium-ion battery. While leadership in certain technologies may shift, the U.S. must maintain its commitment to innovation.

Beyond Sound Bites:
The need to look beyond political rhetoric and focus on practical solutions. Ensuring the U.S. remains competitive in clean energy is not a partisan issue.

Resilience and Regaining Leadership:
U.S. industries have demonstrated resilience in regaining leadership positions. The automobile industry is an example of overcoming challenges and regaining competitiveness.

Importance of Inventing, Making, and Selling Clean Energy Technologies:
Emphasizes the need for a complete innovation cycle from invention to manufacturing and global sales. Generating prosperity and jobs through clean energy technologies.

Upcoming City Club Events:
Information about upcoming City Club events featuring notable speakers.

Integrating Renewable Energy with Fossil Fuels:
Encouraging the integration of renewable energy sources, such as solar and wind, requires the involvement of traditional power providers. Traditional power providers need to be part of the solution and share in the profits of renewable energy to ensure reliability and backup.

Scalability and Potential of Renewable Energy:
Renewable energy, particularly solar power, has significant potential due to its scalability and adaptability to various locations, such as roofs, warehouses, and fields. The goal is to anticipate the future competitiveness of renewable energy prices, which is expected to occur within the next 10-20 years.

Integrating Renewable Energy with Gas Turbines:
Integrating renewable energy with fossil energy, especially gas, is possible due to the rapid ramping capability of modern gas turbines. Gas turbines can quickly ramp up from a cold start, eliminating the need for hot spinning reserves and reducing fossil fuel consumption.

System Integration and Dispatch Automation:
A reliable grid system and automated dispatch mechanisms are essential for integrating renewable energy into the energy system. Collaboration among energy providers, utility companies, merchant providers, and transmission and distribution entities is crucial to accommodate renewable energy when it becomes cost-competitive.

Cost-Competitiveness with New Gas and Coal:
The target is to make renewable energy cost-competitive with new gas and new coal, which are currently the least expensive energy sources. New coal is becoming less economical, making gas the most affordable option.

Energy Storage and Battery Technology:
The development of energy storage technologies, such as batteries, is crucial for ensuring the security and reliability of renewable energy systems. The price of automobile batteries has decreased significantly in recent years and is expected to continue decreasing, making energy storage more affordable.

Fuel Cell Technology:
Stationary fuel cells are promising due to their high efficiency, low operating temperatures, and competitive cost compared to diesel generators. Natural gas is an abundant and cost-effective fuel source for stationary fuel cells, with a long-term supply forecast.

Fuel Cells in Transportation:
Hydrogen fuel cells are attractive due to their clean burning properties, but the production of hydrogen from natural gas still results in carbon emissions. The infrastructure and cost of hydrogen fuel cells are significant challenges for their widespread adoption.

Government Policy and Investment:
Government policy plays a crucial role in driving investments in clean energy technologies. The United States dropped behind China and Germany in terms of clean energy investments in 2010, and the Recovery Act investments are set to expire in 2012.

Government Involvement in Energy Efficiency:
Steven Chu highlights the lack of a level playing field regarding energy efficiency, with other countries taking proactive measures while the United States relies on the private sector. He emphasizes the need for moderate-interest financing options to overcome initial investment costs in energy-efficient upgrades, particularly for low-income families. Chu cites the example of Berkeley, California, where energy efficiency loans are provided through increased tax assessments, ensuring that the benefits of energy savings are passed on to future homeowners.

Lenders’ Role in Energy Efficiency:
Lenders often prioritize their position in mortgages and are reluctant to share the obligation with other parties, making it difficult for homeowners to obtain financing for energy upgrades. Chu suggests that lenders could play a positive role by including utility bills in their affordability assessments and requesting information about structural ratings, which could encourage homeowners to make energy-efficient investments.

Government Policies to Promote Energy Efficiency:
Government policies, such as moderate-interest financing and requiring lenders to consider energy costs, can tilt the balance in favor of energy efficiency, encouraging homeowners to make investments that save money and reduce energy consumption.

Tax Credits and Investments in Renewables:
Tax credits and policies like mastered limited partnerships (MLPs) and real estate investment trusts (REITs) can significantly drive investments in renewable energy and energy efficiency. MLPs allow investors to invest directly in small organizations without paying corporate taxes, making them attractive for renewable energy investments. REITs provide similar tax advantages for investments in real estate, which can be used for energy efficiency upgrades.

Leveling the Playing Field:
The oil and gas industry currently benefits from MLPs, while renewable energy and energy efficiency investments lack similar tax advantages. Allowing MLPs for renewable energy and energy efficiency would create a more level playing field and encourage investment in these areas.

Massive Limited Partnerships for Energy Efficiency:
MLPs can be used to raise capital, diversify risk, and make American capital available for energy efficiency projects. This would benefit both the investors and the customers, as it allows for profitable investments while saving money on energy costs.

Uranium Separation Technology:
The U.S. has treaties prohibiting the purchase of uranium separation technology from other countries. This is a measure to prevent the proliferation of nuclear weapons, as uranium separation technology is essential for nuclear arsenals. The U.S. needs to develop its indigenous uranium separation technology to maintain its nuclear security.

Centrifuge Technology:
Centrifuge technology is the most advanced and successful uranium separation technology, but the U.S. and Europe are not leaders in this field. USEC, a U.S. company, wants to develop centrifuge technology, but needs Congressional approval and funding for a two to three-year, $300 million R&D program. This technology is essential for the U.S. to maintain its nuclear security and could also lead to economic benefits in the future.