The briefing memo discusses barriers to scaling up clean energy technology use due to high capital costs. While research and development is funded by governments, private sector financing for commercialization is much more expensive than other sectors, with an average loan rate of 12%. Currently only 20 companies invest through the tax equity mechanism, keeping costs high. Global clean energy investments are rising but dropped 11% in 2012 as subsidies declined and costs reduced. The memo recommends lowering the cost of capital to reduce technology costs and sustain clean energy growth without subsidies.