Share on email It signals climate technology's growth and intersection with legacy industries, something apparent when startup incubator Greentown Labs chose Houston as its second location in 2020.Asked what's a below-radar topic, Knobloch said startups will help meet Energy Department efficiency rules issued under former President Obama for various kinds of appliances and equipment.
"I'd like for us to recruit more companies in that space," said Knobloch, who was DOE's chief of staff during Obama's second term.The big picture: "It's a challenging time to be a startup in any sector, but certainly in the climate tech, clean energy sector ... because of high interest rates," he said.
"Even if the Fed starts to moderate, it's going to take a long time to come back down. So the cost of debt financing is high."The 2022 climate law provides a "direct pay" option for clean energy tax credits, which means companies that lack tax liability can still tap incentives. "As they get closer to graduating from the incubator stage, and/or if they partner with a corporate partner ... I do see them being able to step up and take advantage of those," Knobloch says.Share on linkedin