The 2024 US Elections Could Decide Future of Renew
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Posted On: 08/02/2024 5:25:28 PM
The 2024 US Elections Could Decide Future of Renewable Energy
The future of the fledgling renewable energy industry may be riding on the upcoming U.S. elections. President Joe Biden’s administration has been a godsend to the segment over the past several years, investing tens of billions of dollars into building America’s green-energy infrastructure and taking more climate-based action than any previous administration.
According to Climate Power executive director Lori Lodes, President Biden passed landmark climate bills that cut billions of tons of carbon pollution, brought back plenty of job opportunities into the country and revitalized communities. Now that Biden’s first and only term is drawing to a close, the future of the green-energy space is uncertain.
With the incentives outlined by the 2022 Inflation Reduction Act already ramping up the country’s solar manufacturing industry, an unsupportive regime risks this development, potentially hobbling America’s race to carbon neutrality before it truly begins. On the other hand, a prorenewables administration will be instrumental in helping America grow its renewable-energy capacity and bring it closer to achieving carbon neutrality.
The outcome will depend on who ends up in control of the White House and senate. Current vice president and likely Democratic presidential candidate Kamala Harris made her support for the landmark Inflation Reduction Act (IRA) clear, and some believe she will focus even harder on renewables if she secures the White House.
Climate Change and Environmental Justice Program for the legal advocacy organization Lawyers for Good Government (L4GG) director Jillian Blanchard notes that Harris was born and raised in California where America’s green-energy revolution is said to have started. Blanchard posits that Harris sees both the environmental and economic benefits of transitioning to renewables and has a dedication to environmental justice.
Evergreen Actions executive director Lena Moffitt notes that Harris has been a key player in the Biden administration’s key climate-related achievements. She said the nonprofit climate group is confident that Harris can expand upon Biden’s landmark climate achievements and raise the bar even higher in her own right.
A Republican presidency, on the other hand, likely wouldn’t bode well for America’s green-energy ambitions. GOP nominee and former President Donald Trump has referred to Biden’s green-energy actions as the Green New Scam and said that he would redirect funds earmarked for climate action.
However, Ecofin senior portfolio manager Matt Breidert notes that Republicans would require a definitive victory with a substantial margin to take any meaningful action against the IRA. Unless the GOP secures the presidency, senate and house, Breidert says, making any material changes to the IRA won’t be easy.
For companies focused on the extraction of green-energy metals that are critical to the ongoing energy transition, such as First Tellurium Corp. (CSE: FTEL) (OTCQB: FSTTF), the outcome of the upcoming U.S. polls may minimally impact their trajectories since their products can be utilized in a huge variety of industries and applications, not only in energy infrastructure.
NOTE TO INVESTORS: The latest news and updates relating to First Tellurium Corp. (CSE: FTEL) (OTCQB: FSTTF) are available in the company’s newsroom at https://ibn.fm/FSTTF
Please see full terms of use and disclaimers on the GreenEnergyStocks website applicable to all content provided by GES, wherever published or re-published: https://www.greennrgstocks.com/Disclaimer
The future of the fledgling renewable energy industry may be riding on the upcoming U.S. elections. President Joe Biden’s administration has been a godsend to the segment over the past several years, investing tens of billions of dollars into building America’s green-energy infrastructure and taking more climate-based action than any previous administration.
According to Climate Power executive director Lori Lodes, President Biden passed landmark climate bills that cut billions of tons of carbon pollution, brought back plenty of job opportunities into the country and revitalized communities. Now that Biden’s first and only term is drawing to a close, the future of the green-energy space is uncertain.
With the incentives outlined by the 2022 Inflation Reduction Act already ramping up the country’s solar manufacturing industry, an unsupportive regime risks this development, potentially hobbling America’s race to carbon neutrality before it truly begins. On the other hand, a prorenewables administration will be instrumental in helping America grow its renewable-energy capacity and bring it closer to achieving carbon neutrality.
The outcome will depend on who ends up in control of the White House and senate. Current vice president and likely Democratic presidential candidate Kamala Harris made her support for the landmark Inflation Reduction Act (IRA) clear, and some believe she will focus even harder on renewables if she secures the White House.
Climate Change and Environmental Justice Program for the legal advocacy organization Lawyers for Good Government (L4GG) director Jillian Blanchard notes that Harris was born and raised in California where America’s green-energy revolution is said to have started. Blanchard posits that Harris sees both the environmental and economic benefits of transitioning to renewables and has a dedication to environmental justice.
Evergreen Actions executive director Lena Moffitt notes that Harris has been a key player in the Biden administration’s key climate-related achievements. She said the nonprofit climate group is confident that Harris can expand upon Biden’s landmark climate achievements and raise the bar even higher in her own right.
A Republican presidency, on the other hand, likely wouldn’t bode well for America’s green-energy ambitions. GOP nominee and former President Donald Trump has referred to Biden’s green-energy actions as the Green New Scam and said that he would redirect funds earmarked for climate action.
However, Ecofin senior portfolio manager Matt Breidert notes that Republicans would require a definitive victory with a substantial margin to take any meaningful action against the IRA. Unless the GOP secures the presidency, senate and house, Breidert says, making any material changes to the IRA won’t be easy.
For companies focused on the extraction of green-energy metals that are critical to the ongoing energy transition, such as First Tellurium Corp. (CSE: FTEL) (OTCQB: FSTTF), the outcome of the upcoming U.S. polls may minimally impact their trajectories since their products can be utilized in a huge variety of industries and applications, not only in energy infrastructure.
NOTE TO INVESTORS: The latest news and updates relating to First Tellurium Corp. (CSE: FTEL) (OTCQB: FSTTF) are available in the company’s newsroom at https://ibn.fm/FSTTF
Please see full terms of use and disclaimers on the GreenEnergyStocks website applicable to all content provided by GES, wherever published or re-published: https://www.greennrgstocks.com/Disclaimer
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