Utility Dive reported that despite changes from the current presidential administration, the clean energy movement will continue to surge. After all, industry stakeholders state that "The financial case for renewable energy projects is still strong."
The positivity surrounding renewable energy stems from bipartisan agreement that the country needs more power infrastructure, as well as the status of the Inflation Reduction Act investment tax credit — which Brad Molotsky, a partner at law firm Duane Morris, said should be "pretty much unscathed" and the electrification of buildings and vehicles will continue to grow, per Utility Dive.
On top of this, financing for clean energy stakeholders continues to look good. The finance tech company Crux launched a debt capital marketplace to make funding more accessible. Its CEO, Alfred Johnson, stated, "Companies are making corporate business decisions to solve the needs of more energy demand … irrespective of any views that they may have, politically or otherwise." In other words, renewable energy and its demand are good for business.
There has been controversy over the misguided ESG strategies that have often resulted in companies using clean energy as a marketing tool, such as greenwashing instead of a core actionable strategy. Luckily, many in the industry have learned from these mistakes and as Navex stated, are "using data to anticipate and mitigate risks." However, the clean energy charge continues to move forward worldwide through tangible collaborations and investments.
For example, Wisconsin just completed the largest solar project in the state's history — a move that can power 90,000 homes — thanks to collaboration with Madison Gas and We Energies. Private companies have given Midwestern states almost $30 billion for clean energy projects. Reuters reported a $1.4 billion investment by Toyota, adding 340 new jobs in its Indiana plant to build electric SUVs.
Then, there's the stock market. S&P Global Commodity forecasts that renewable energy investments "will reach $670 billion in 2025, marking the first time these investments will outpace projected upstream oil and gas spending," per a press release.
As these initiatives take hold, they can bring more jobs, cleaner air, and less stress to the earth.
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