The Biden administration’s massive energy and climate programs hold big benefits for the economy — but the rollout needs to speed up, one energy finance industry executive said Wednesday.

“I think it hasn’t been implemented fast enough,” George Bilicic, managing director at asset management firm Lazard, told POLITICO’s Energy Summit, though he acknowledged the difficulty in rolling out major legislation that requires new regulations guiding its deployment, such as the Inflation Reduction Act.

Energy Secretary Jennifer Granholm later acknowledged that the real-world impact of President Joe Biden’s massive spending initiatives has been slower than some would like.

“We may have gone to a few groundbreakings, but we haven’t gone to a huge number of ribbon cuttings yet,” said Granholm, who, like other members of Biden’s Cabinet, has crisscrossed the country to promote projects funded by Biden’s programs. “Because it takes a while to build the actual factories.”

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