Extreme weather events have knocked both nuclear and coal-fired power plants offline in just the past six months, undercutting the Trump Administration’s argument that subsidizing these aging energy generators is crucial for bolstering grid stability. The latest failure came late last week when Winter Storm Gregory forced a nuclear plant in New England offline, ratcheting up the challenge facing grid operators amidst the “bomb” cyclone’s high winds and freezing temperatures. Continue reading
U.S. President Donald Trump’s Rose Garden declaration yesterday that he will pull the country out of the Paris Agreement on climate change painted the United States as an economic victim, swindled into an “unfair” deal by the global community. He is right that the world is united: Nearly 200 countries back the 2015 Paris deal, with only Syria, Nicaragua and now the U.S. opting out. But fact checkers had a field day with Trump’s justification: his claim (against all evidence to the contrary) that the treaty imposes “onerous energy restrictions” on the U.S. that would beget “lost jobs, lowered wages, shuttered factories, and vastly diminished economic production.”
Nicaragua opted to stay out because it viewed the treaty’s reliance on voluntary national pledges rather than binding greenhouse gas reduction targets as “a path to failure” that would allow human-caused global warming in this century to surpass the agreed limit of 1.5 to 2 degrees Celsius. Trump said yesterday he would keep the U.S. in the Paris deal only if he can renegotiate it to be weaker still, though his language belied a lack of conviction. “If we can, that’s great. If we can’t, that’s fine,” equivocated Trump.
The President’s retreat from one the great technological challenges of the 21st Century marked a sad day for America’s innovation leaders, and a breaking point for Elon Musk. The tech titan behind such fast-growing engineering powerhouses as Tesla Motors and SpaceX insisted on Tuesday that he had worked mightily, both directly with the President and through his membership on three Presidential economic councils, to convince Trump to stick with Paris. Within minutes of Trump’s speech yesterday, Musk tweeted that he was pulling himself from Team Trump:
Musk had considerable company. A sweeping set of U.S. innovators, mayors, governors, and business leaders spoke up yesterday, vowing to stick with the goals of the Paris Agreement even if the federal government does not. They have another three years to work on Trump’s stance, because the treaty’s rules impose at least a three year wait for a signatory to pull out. Continue reading
Published today at MIT Technology Review:
President-elect Donald Trump is a self-declared climate-change denier who, on the campaign trail, criticized solar power as “very, very expensive” and said wind power was bad for the environment because it was “killing all the eagles.” He also vowed to eliminate all federal action on climate change, including the Clean Power Plan, President Obama’s emissions reduction program for the power sector.
So how will renewable-energy businesses fare under the new regime?
Trump’s rhetoric has had renewable-energy stocks gyrating since the election. But the impact could be far less drastic than many worst-case scenarios. “At the end of the day what Trump says and what is actually implemented are two completely different things,” says Yuan-Sheng Yu, an energy analyst with Lux Research …
For the whole story see “Trump’s Impact on Clean-Energy Businesses“