Global Solar Industry under Trump’s eye

While people are still trying to figure out how Trump will implement new polices on immigration, trade and other areas, one thing which is sure is that Trump will be a disaster for the clean energy industry in USA (and globally as well). He has threatened to tear up a number of existing and proposed international and domestic polices related to climate change and global warming. The Republican viewpoint is that the global warming and climate change is a hoax perpetrated by the liberals and they do not believe in it.

This means that the biggest reason for promoting the renewable energy industry is a hoax. While the Investment Tax Credit (ITC) which was passed recently might not be repealed, there is an almost 100% chance the the clean power plant for the utility industry in the USA will not be implemented. This means that the industry will have a much lower push to build new solar and wind power plants in USA. Though wind and solar are now much more cost competitive and sometimes even lower in price than coal and gas power plants, they will face a huge difficulty as clean and green energy becomes a non-existent factor in the utility industry plans.

Trump also signifies a disaster for climate change as he does not believe in it. The Paris climate change international treaty which was signed after a huge effort has also become vulnerable. Trump might just go back in his commitment and the carbon emissions from USA could explode. Trump has promised to promote the fossil fuel industry and open up coal and gas power plants. This is a huge negative for climate change. If the world’s second largest emitter decides to abandon its responsibility towards climate change, then Japan, China and others will also go back and start producing carbon in ever increasing quantities.

Also read First Solar and Sunpower could be the biggest beneficiaries if Mrs. Clinton wins.