Trump's presidency can't halt U.S. renewable energy growth
Reuters reported on Wednesday that Donald Trump's electoral victory might slow down, but not stop, the development of the American renewable energy sector. However, the new president will aim to maximise oil and gas extraction.
The law adopted two years ago (IRA) provided ten-year subsidies for the development of clean energy projects and, according to the agency, repealing it is almost impossible. "I don't think President Trump could stop this process; it has already gone too far," said an energy technology expert from the University of Houston.
During the election campaign, Trump announced plans to block funds not yet allocated to green energy. However, this would require the support of Congress, including representatives from states that benefited from investments related to the IRA, such as solar panel factories or wind farms.
In Republican-governed states, there have been so many "jobs and economic benefits" thanks to this law that it's hard to imagine a government that would want to forfeit them, said Carl Fleming, from a law firm working with Joe Biden's administration on renewable energy policy, to Reuters.
Slow down the transformation
According to Fleming, Trump could indeed slow down the energy transformation, for example, by changing the rules for leasing public lands.
The Biden administration aimed to facilitate leasing federal waters to wind farms. Trump, during the election campaign, claimed, however, that offshore wind farms are too expensive and pose threats to whales and seabirds.
According to experts cited by the agency, reversing Biden's policy could most strongly affect offshore projects. (Most land-based renewable energy investments, as are the vast majority of oil and gas wells, are located on private land.)
