Despite progress toward a cleaner energy system, current U.S. policies appear insufficient to reduce emissions enough to avoid catastrophic climate change while sustaining economic growth. Energy innovation is a crucial part of addressing this problem, but a number of inefficiencies persist in the innovation system. To address this, Goldstein, Azoulay, Graff Zivin, and Bulović examine practices and institutions that successfully support the pharmaceutical innovation system and that hold important lessons for energy innovation.