A plan for getting to zero - Accelerating the demand for innovation
5 important questions on A plan for getting to zero - Accelerating the demand for innovation
What two steps does accelerating the demand for innovation consist of, according to Bill Gates?
- The proof phase
- Scale-up phase
After an apprach has been tested in the lab, it needs to bee proven in the market. Why, according to Bill gates, is this process so difficult when it comes to electricity?
- You have to find out if the idea that worked in the laboratory still works under real-world conditions
- You have to drive down the cost and risks of early adoption, develop supply chains, test your business model, and help consumers get comfortable with the new technology;
Why, according to Bill Gates, is the proof phase of the acceleration for innovation, a valley of death?
- Because the risks that come with testing new products and introducing them in the market are too great, so incestors get scared;
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Why, according to Bill Gates, must we put a price on carbon to eliminate Green Premiums?
- In the near term, the value of a carbon price is that by raising the cost of fossil fuels, it tells the market that there will be extra costs associaed with products that emit greenhouse gas emissions;
- In the longer term, the carbon price could be set at the cost of direct air capture, and the revenues could be used to pay for pulling carbon out of the air;
- 29 U.S states and the European Union have adopted standards called a renewable portfolio standard, what does this mean?
- The idea is to require electrical utilities to get a certain percentage of their electricity from renewable sources.
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