The Environmental Protection Agency's (EPA) proposed carbon regulation on existing power plants is the biggest climate victory since the Recovery Act's investments in clean energy, and advocates are hopeful it will deliver on many fronts — as EPA Administrator Gina McCarthy declared, "our action will sharpen America's competitive edge, spur innovation, and create jobs." But supporters should not oversell EPA regulations as something they are not. Climate advocates should consider the benefits of coordinating an innovation strategy with the new regulations to ensure their near-term success and to enable EPA to implement more stringent targets in the future.

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