In the past decade we have witnessed the start of a significant transformation in our domestic energy sector.It can be argued that much of this is due to investments in research and past public policies to encourage innovation, technol. development and deployment over the past several decades.But, despite what some might consider remarkable progress, we must ask ourselves is the pace and amount sufficient?This question will be addressed in the contect of continued challenges relating to global economic competitiveness, a domestic aging infrastructure, ever increasing stresses in energy reliability and security, and of course, the environmental challenges of continued heavy reliance on fossil fuels.Addnl., the role of innovation in increasing the pace and trajectory of our energy system will be examined in the present context of what′s new in technol. development, new innovative business models, low energy prices, abundantfossil fuels, and a conservative approach to U.S. public policy.