How will proposed increases in energy R&D funding affect other types of R&D spending? This column provides evidence that should dampen concerns about crowding out – increased R&D in response to policies designed to enhance clean-energy innovation most likely comes at the expense of R&D in dirty-energy technologies.

No climate-change strategy will work unless it is consistent with developing countries' continued growth. So curbing emissions requires cheaper clean energy than is currently available. And that requires innovation.