Currently, the high cost to build and maintain offshore turbines combined with their design constraints – they are still installed directly into sea beds and require additional stabilization to deal with the stresses of the ocean currents – they can’t compete on price with conventional land-based models. But with the Hywind’s innovative floating design, wind farms could be installed virtually anywhere, in waters with depths up to 2100 feet.

The dynamic turbine design, which employs stabilization technologies already in use on offshore oil and gas rigs, needs further improvements – lighter materials and blades that spin closer to the water’s surface – before it is economically viable and ready to be manufactured on a mass scale, but it’s early successes have already silenced many critics. Considering the infrastructure to transport the power is relatively inexpensive by comparison, the Hywind could be an attractive solution further down the road and one to keep an eye.

[image via phault]

The pair explain what’s at stake by noting that each year, energy expenditures in the US cost more than $1 trillion. Compare that with the $250 billion are government spends in funding research and development in this space and we’re able to see the huge disparity in terms of short term remedies – importing energy from afar – versus the kind of long term fixes required – promoting homegrown innovation.

In order to reverse this trend, they argue that fundamental change is needed in our country’s approach and policies, one that begins with a signal from our government that clean energy is valuable. As we see at every level, the way to accomplish this is by monetizing the intangibles, namely putting a price on carbon. By then following this up with a cap on emissions that grows steadily stronger over time and the country is presented with a solution that leaves little room for anything but greater efficiencies.

And while private industry – from corporations to entrepreneurs – will have to improve or be left behind, the government needs to show its support by backing their efforts with better incentive programs. This is especially important for America’s utilities, which are positioned as the driving force of the country’s infrastructure and able to innovation on a large-scale. This means they will potentially face greater challenges from the outset, if they’re smart about how they leverage the pre-existing energy grid, the benefits will be enormous.

As important as it is to approach these solutions on the home front, Doerr and Immelt point to the necessity for the US to once again assert itself as a big player in the global marketplace by creating a robust trade policy with other nations. This not only benefits our economy, but shifts the planet from a diet of dwindling resources to a feast of renewable energy with America once again leading the way.