The Sun Still Shines
If you have been following any social media posts or news articles from people in the renewable energy industry, climate change or decarbonization world, over the past 24 hours you've likely encountered more somber articles than optimistic pieces. Digesting the results of the presidential election has been difficult for me personally since my business ventures are tied to further progression in clean energy and decarbonization. Many in these jobs and industries are trying to predict how the new administration will act in regard to clean energy and what may become of the Inflation Reduction Act (IRA) which has been a key driver in expanding solar, wind, battery storage, hydrogen, renewable natural gas, carbon capture and other technologies.
Given that the federal funding and private investment from IRA has gone, and will continue to go primarily to red and purple states and locations, it is likely the new administration will not want to repeal the legislation out right. So much money is flowing to these areas, and so many jobs are being created that it would be very difficult politically for the administration to make major changes since the benefits are being realized across the board.
I do anticipate the administration will make changes and modifications to the IRA, especially since there were campaign promises. While some of the federal may be shifted or reduced, I expect continued significant investment, and job growth in renewables and decarbonization once the administration's plans and actions become clear.
What We're Reading
From Bloomberg: Trump's Win is Neither an Oil Gusher Nor a Green Crusher
Great article from Axios: Trump wants to "terminate" green spending. Here's what could stand in his way
Scott Cooney
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Internships
I continue to research, curate, and expand the number of companies on the list. These established companies and startups are doing truly amazing things related to solar, wind, hydrogen, energy storage, geothermal, carbon capture, low carbon materials, transportation and many others. Let me know if you have companies you would like to see added!
