Legislation to create a new federal financing agency to promote \u201cgreen\u201d power innovation received bipartisan support May 3 in the Senate Energy & Natural Resources Committee. S. 1462 is the foundation for the Clean Energy Development Administration. The agency would augment federal tax supplements and loan guarantees. \u201cIt\u2019s the care and feeding of R&D,\u201d said Dan Reicher, executive director of Stanford University\u2019s Steyer-Taylor Center for Energy Policy & Finance. Senator Lisa Murkowski (R-AK) supports the legislation, despite her concern over allowing fledgling companies to become \u201caddicted to government funds.\u201d You want to \u201cgive them the kick start and then they\u2019re on their own,\u201d she said. The new federal administration is an attempt to get renewable energy technology companies through what is denoted as the \u201cValley of Death.\u201d That is, the distance between initial funding and project completion. The administration is set to \u201ccreate a financing entity to cross the Valley of Death by helping to reduce the risk\u2026and create a more successful and competitive clean energy industry,\u201d Reicher said. Democrats, Republicans, and panelists agreed that research and development is high risk. Conservatives expressed concern that \u201cgreen\u201d energy technologies may never be competitive with fossil-fueled power.