Renewable power sources have seen unprecedented levels of investment in recent years. But with political uncertainty clouding the future of subsidies for green energy, these technologies must begin to compete with fossil fuels on equal footing, said participants at the 2025 MIT Energy Conference.
“What these technologies need less is training wheels, and more of a level playing field,” said Brian Deese, an MIT Institute Innovation Fellow, during a conference-opening keynote panel.
The theme of the two-day conference, which is organized each year by MIT students, was “Breakthrough to deployment: Driving climate innovation to market.” Speakers largely expressed optimism about advancements in green technology, balanced by occasional notes of alarm about a rapidly changing regulatory and political environment.
Deese defined what he called “the good, the bad, and the ugly” of the current energy landscape. The good: Clean energy investment in the United States hit an all-time high of $272 billion in 2024. The bad: Announcements of future investments have tailed off. And the ugly: Macro conditions are making it more difficult for utilities and private enterprise to build out the clean energy infrastructure needed to meet growing energy demands.
“We need to build massive amounts of energy capacity in the United States,” Deese said. “And the three things that are the most allergic to building are high uncertainty, high interest rates, and high tariff rates. So that’s kind of ugly. But the question…is how, and in what ways, that underlying commercial momentum can drive through this period of uncertainty.”
During a keynote address, Quinn Woodard Jr., the senior director of power generation and surface facilities at Fervo Energy, shares how his company is transforming the geothermal industry with revolutionary innovations to meet global energy demands. Credit: Rory Fisher
A shifting clean energy landscape
During a panel on AI and growth in electricity demand, speakers said that the technology may serve as a catalyst for green energy breakthroughs, in addition to putting strain on existing infrastructure. “Google is committed to building digital infrastructure responsibly, and part of that means catalyzing the development of clean energy infrastructure that is not only meeting the AI need, but also benefiting the grid as a whole,” said Lucia Tian, head of clean energy and decarbonization technologies at Google.
Across the two days, speakers emphasized that the cost-per-unit and scalability of clean energy technologies will ultimately determine their fate. But they also acknowledged the impact of public policy, as well as the need for government investment to tackle large-scale issues like grid modernization.
Vanessa Chan, a former Department of Energy official and current vice dean of innovation and entrepreneurship at the University of Pennsylvania School of Engineering and Applied Sciences, warned of the “knock-on” effects of the move to slash National Institutes of Health (NIH) funding for indirect research costs, for example. “In reality, what you’re doing is undercutting every single academic institution that does research across the nation,” she said.
During a panel titled “No clean energy transition without transmission,” Maria Robinson, former director of the Department of Energy’s Grid Deployment Office, said that ratepayers alone will likely not be able to fund the grid upgrades needed to meet growing power demand. “The amount of investment we’re going to need over the next couple of years is going to be significant,” she said. “That’s where the federal government is going to have to play a role.”
David Cohen-Tanugi, a clean energy venture builder at MIT, noted that extreme weather events have changed the climate change conversation in recent years. “There was a narrative 10 years ago that said…if we start talking about resilience and adaptation to climate change, we’re kind of throwing in the towel or giving up,” he said. “I’ve noticed a very big shift in the investor narrative, the startup narrative, and more generally, the public consciousness. There’s a realization that the effects of climate change are already upon us.”
“Everything on the table”
The conference featured panels and keynote addresses on a range of emerging clean energy technologies, including hydrogen power, geothermal energy, and nuclear fusion, as well as a session on carbon capture.
Alex Creely, a chief engineer at Commonwealth Fusion Systems, explained that fusion (the combining of small atoms into larger atoms, which is the same process that fuels stars) is safer and potentially more economical than traditional nuclear power. Fusion facilities, he said, can be powered down instantaneously, and companies like his are developing new, less expensive magnet technology to contain the extreme heat produced by fusion reactors.
By the early 2030s, Creely said, his company hopes to be operating 400-megawatt power plants that use only 50 kilograms of fuel per year. “If you can get fusion working, it turns energy into a manufacturing product, not a natural resource,” he said.
Quinn Woodard Jr., senior director of power generation and surface facilities at geothermal energy supplier Fervo Energy, said his company is making the geothermal energy more economical through standardization, innovation, and economies of scale. Traditionally, he said, drilling is the largest cost in producing geothermal power. Fervo has “completely flipped the cost structure” with advances in drilling, Woodard said, and now the company is focused on bringing down its power plant costs.
“We have to continuously be focused on cost and achieving that is paramount for the success of the geothermal industry,” he said.
One common theme across the conference: A number of approaches are making rapid advancements, but experts aren’t sure when—or, in some cases, if—each specific technology will reach a tipping point where it is capable of transforming energy markets.
“I don’t want to get caught in a place where we often descend in this climate solution situation, where it’s either-or,” said Peter Ellis, global director of nature climate solutions at The Nature Conservancy. “We’re talking about the greatest challenge civilization has ever faced. We need everything on the table.”
Ely Sandler, a managing partner at Article Six Group, provides key takeaways about how global entities can come together to finance the clean energy transition by leaning in on private investments, focusing on grids and electrification, and shifting wealth to support this global effort. Credit: Rory Fisher
The road ahead
Several speakers stressed the need for academia, industry, and government to collaborate in pursuit of climate and energy goals. Amy Luers, senior global director of sustainability for Microsoft, compared the challenge to the Apollo spaceflight program, and she said that academic institutions need to focus more on how to scale and spur investments in green energy.
“The challenge is that academic institutions are not currently set up to be able to learn the how, in driving both bottom-up and top-down shifts over time,” Luers said. “If the world is going to succeed in our road to net zero, the mindset of academia needs to shift. And fortunately, it’s starting to.”
During a panel called “From lab to grid: Scaling first-of-a-kind energy technologies,” Hannan Happi, CEO of renewable energy company Exowatt, stressed that electricity is ultimately a commodity. “Electrons are all the same,” he said. “The only thing [customers] care about with regards to electrons is that they are available when they need them, and that they’re very cheap.”
Melissa Zhang, principal at Azimuth Capital Management, noted that energy infrastructure development cycles typically take at least five to ten years—longer than a U.S. political cycle. However, she warned that green energy technologies are unlikely to receive significant support at the federal level in the near future. “If you’re in something that’s a little too dependent on subsidies…there is reason to be concerned over this administration,” she said.
World Energy CEO Gene Gebolys, the moderator of the Lab to grid panel, listed off a number of companies founded at MIT. “They all have one thing in common,” he said. “They all went from somebody’s idea, to a lab, to proof-of-concept to scale. It’s not like any of this stuff ever ends. It’s an ongoing process.”