Doerr said it'll be nine years before they think about an IPO, even though it has "substantial revenues and orders." According to Doerr, there is simply more "capital required to grow a great green company." And that's what has delayed major investment — both public and private — thus far. The intense need for capital has created an equally intense lack of investment will. And, at least in the U.S., Federal policy hasn't really done much to help. Technology-specific subsidies and lobbyist-inspired energy policies have left us far behind our European and many Asian counterparts. Instead of subsidizing the lobbyists' favorite technologies... we need to create a policy environment that fosters innovation, namely by putting a price on carbon either through a tax or  cap-and-trade. Again, Doerr turns to the Internet for an analogy. When the Internet emerged from military application into the public realm, it wasn't Congress deciding the way forward. Could you imagine if they subsidized dial-up while stymieing DSL or cable? We'd all still be stuck with modems. Similarly, energy policy needs to evolve. Winners need not be chosen by politicians, but by economics. And failing to do that is one of the main reasons the U.S. remains a laggard in clean technology. Think about the year 1996. Where were the top Internet companies based or founded? All in the U.S. Now think about the top solar, wind, and battery companies... Mostly European and Asian locales come to mind. It's not only sad for our country — it's dangerous, with respect to both energy and economic security.

Doerr's Last Words

This lack of political steadfastness has led to "woeful underinvestment" in clean energy. And that's part of the reason we're now giving stimulus dollars to overseas firms for wind turbines and other clean technologies. Europe is literally 10 years ahead of us. Early adoption is the reason the tiny country of Denmark exports billions of dollars worth of wind turbines annually. Doerr was hopeful, though. He's going to keep investing because he sees an upside to multiple bottom lines. And while he doesn't favor subsidies for any one sector, he did have three policy suggestions: "Put a price on carbon. Put a price on carbon. And put a price on carbon."

Only when businesses don't have the right to treat the atmosphere like an open sewer will there be meaningful migration away from fossil fuels. That's what Europe did. And look who we're now paying for wind turbines.