Why president Trump can’t squash the innovating, job creating, money saving clean energy industry

QUARTZ

-  By Nancy Pfund

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Like many others, proponents of clean energy were thrown into a state of shock after the US election results. During the campaign, now President-elect Trump dismissed climate change as a Chinese hoax and threatened an abrupt shift in US energy policy.

Despite this shaken political climate, there are many reasons to remain optimistic about the prospects for clean energy in the United States. Specifically, renewable energy is broadly popular, makes sense financially, and is largely state-regulated.

Outside of Washington, there is overwhelming support for renewable energy. Gallup found that 79% of Americans would like to see more emphasis on domestic solar energy production and they are increasingly voting with their roofs: more than one million US homes now have solar panels installed. Red states like South Dakota and Idaho are on the forefront of renewable energy adoption alongside blue states like California and Massachusetts. Clean energy is not a partisan issue—it’s a technology that can provide solid middle class jobs and energy savings for all.

Renewables energy’s popularity is similarly broad among corporations. Over 80 major companies have committed to the goal of 100% renewable energy including Ikea, Apple, Google, Bank of America, Coca Cola, Nike, P&G, Walmart, and many more. Whole Foods achieved the feat back in 2006. Increasingly corporations are breaking from traditional models and producing and buying renewable energy directly to meet their goals. For example, earlier this year three of Nevada’s largest casinos—MGM Resorts, Wynn, and the Las Vegas Sands—announced plans to leave the state’s utility to procure more renewable energy on the open market.

A key driver to country-wide adoption of renewable energy by both consumers and corporations is economics. Regardless of one’s views of the environment, renewable energy, particularly when combined with storage, is increasingly the right financial decision. The cost of producing solar energy, for instance, has fallen rapidly and is now 70% less expensive than it was a decade ago. Further, renewable energy provides more price stability than conventional fossil fuels, which may be further exacerbated if we enter an era of trade wars.

Finally, state and local governments play a much larger role in the management of the energy industry than the federal government. State utility commissions lead utility regulation and are guided by state legislatures and governors in setting goals, incentives, and policy guidelines. State-level ballot initiatives have further demonstrated broad consumer support for renewable policies. This week Florida voters defeated a utility-supported measure to restrict solar in the state and Nevada voted overwhelmingly to end NV Energy’s legal monopoly and create a path for more clean, cost-effective energy in the state.

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