By Jackie Wattles, CNN.
The Microsoft co-founder and philanthropist announced his latest endeavor, the Breakthrough Energy Coalition, at the climate change summit in Paris.
"We need to bring the cost premium for being clean down," Gates said Monday in an interview with CNN's New Day. "You need the innovation so that the cost of clean is lower than the coal based energy generation."
Lowering the cost of clean energy to make it competitive with fossil fuels is the best way to get poor countries to make the switch without sacrificing economic growth, Gates said. Clean energy can make air conditioning, refrigerators, stoves and fertilizer more affordable for poor people.