Kodak, founded in 1888 by George Eastman, became synonymous with photography for over a century. Eastman revolutionized the industry with a portable Kodak camera and the slogan, “You press the button, we do the rest.” This invention democratized photography for the masses.

Over the decades, Kodak achieved remarkable milestones:

  • 1888: The first Kodak camera, loaded with a 100-exposure roll of film, was launched. Customers returned the camera to Kodak for film development.
  • 1900: Introduction of the Kodak Brownie camera, which made amateur photography affordable and easy.
  • 1935: Launch of Kodachrome, one of the first successful color films.
  • 1963: Release of the Instamatic camera, with its easy-to-load film cartridges, further simplifying photography.
  • 1975: Kodak engineer Steve Sasson invented the first digital camera. However, the company chose to prioritize its film business instead of adapting to the digital revolution.
  • 1996: At its peak, Kodak achieved annual revenues of $16 billion, controlling 95% of the U.S. film market and 85% of the camera market. Its products were distributed in over 70 countries.
  • 2012: Kodak filed for bankruptcy after years of declining sales, a victim of its failure to adapt to the rise of digital photography.

Kodak’s story is a cautionary tale of clinging to outdated models while ignoring transformative technological shifts. Today, some argue that the United States is following a similar path in its approach to climate change and renewable energy.

Solar Energy: A Missed Opportunity?

The development and commercialization of solar panels have a long and innovative history:

  • 1954: Bell Labs developed the first practical photovoltaic (PV) solar cell, capable of converting sunlight into electricity with 6% efficiency.
  • 1955-1960s: Solar panels powered satellites, including the Vanguard I in 1958.
  • 1970s: The oil crisis spurred interest in alternative energy. Governments and companies invested in solar panel research and subsidies, leading to niche applications like remote telecommunications and lighthouses.
  • 1978: Exxon developed solar panels for industrial applications, while companies like Sharp, Kyocera, and Solarex began mass production, driving costs down.

Fast forward to today, and China is the undisputed leader in solar energy. By the end of 2024, China’s installed solar power capacity had surged by 45.2%, reaching an unprecedented 890 gigawatts (GW). This transformation is part of China’s strategic shift toward renewable energy and modernization of its power infrastructure.

In contrast, the United States appears to be doubling down on fossil fuels. The new administration’s proposal to revive the oil industry (“Drill, Baby, Drill”) aims to compete with China by relying on outdated energy models. While this strategy may provide short-term economic gains, it ignores the global shift toward renewable energy and the urgent need for climate action.

The parallels with Kodak’s decline are striking. Like Kodak’s reluctance to embrace digital photography, the U.S. risks clinging to fossil fuels while the world moves toward sustainable energy solutions. Solar energy, wind power, and other renewables offer a path to innovation and leadership, but only if the U.S. chooses to invest in them.

Looking Ahead

Kodak’s failure was not due to a lack of technological innovation – it invented the digital camera, after all. Its downfall was rooted in a failure to adapt to new realities. Similarly, the United States has the resources, technology, and talent to lead the renewable energy revolution. The question is whether it will embrace the future or become the new Kodak, sidelined in a world powered by clean energy.

The choice is clear: invest in innovation, adapt to changing realities, and lead the global transition to renewable energy—or risk being left behind.