(a) There is a Maryland Energy Innovation Institute. (b) The Institute is a part of the A. James Clark School of Engineering of the University of Maryland. (c) The A. James Clark School of Engineering shall manage the Institute according to the policies of the University of Maryland and the University System of Maryland with the advice of the Institute Board. (d) The purposes of the Institute are to: (1) collaborate with academic institutions in the State to participate in advanced clean energy and clean energy innovation programs; and (2) develop and attract private investment in clean energy innovation and commercialization in the State. (e) The exercise by the Institute of the powers conferred by this part is the performance of an essential governmental function.