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What would a Donald Trump victory mean for historic clean energy incentives? — This Week in Cleantech

What would a Donald Trump victory mean for historic clean energy incentives? — This Week in Cleantech
Republican presidential candidate former President Donald Trump enters at a campaign event Tuesday, June 18, 2024, in Racine, Wis. (AP Photo/Jeffrey Phelps)

This Week in Cleantech is a new, weekly podcast covering the most impactful stories in cleantech and climate in 15 minutes or less. Produced by Renewable Energy World and Tigercomm, This Week in Cleantech will air every Friday in the Factor This! podcast feed wherever you get your podcasts.

This week’s episode features Newsweek editor Jeff Young, who reported on President Biden’s effort to link his climate goals to good-paying jobs.

This week’s “Cleantecher of the Week” is Megawatt-X founder Laurent Segalen!

1. Solar Power’s Giants Are Providing More Energy Than Big Oil – Bloomberg

In the middle of the 20th century, the predecessors of the major international oil companies like Exxon and Shell were nicknamed the “Seven Sisters” because they dominated global energy production. Now, seven Chinese solar companies including Longi, Trina and Jinko provide a larger proportion of energy to the global population in the 21st century than the “Seven Sisters” did in the 20th. 

Analysts measured the output of polysilicon raw material produced and converted that into gigawatts of energy. They found that the amount of useful energy that these oil companies provide to the world economy every year is less than the amount of energy that will be produced by the solar panels these seven Chinese manufacturers are making every year. 

2. Green Peace: How the Fight Against Climate Change Can Overcome Geopolitical Discord – Foreign Affairs

The writers of this piece make the case that climate action can decrease, rather than increase, global tensions if we take a different approach. 

They recommend governments stop adding new subsidies and tariffs, and embrace trade with a larger pool of partners. They also emphasize making decarbonization a better deal for the developing world by means passing policies that ensure investments in clean energy resources in developing countries benefit local communities.

3. A Trump Win Puts $369 Billion in Clean Energy Incentives at Risk, BI Says – Bloomberg

It’s not likely Trump’s reelection would fully repeal the Inflation Reduction Act, but there could be large cuts to tax incentives. Trump already vowed to scrap offshore wind development if he wins, and Wood Mackenzie estimated that he would promote fossil fuel production while reducing clean energy support.

Watch the full episode on YouTube

4. Solugen scores $214 million loan from DOE to make chemicals from corn sugar not petroleum – CNBC

Instead of using oil, Solugen uses enzymes and metal catalysts to convert sustainable feedstock, or corn sugar, into chemicals for concrete, industrial and wastewater treatments, and household detergents. Its manufacturing process is a much cleaner alternative to petroleum because it leaves behind no harmful byproducts and little carbon pollution. With this $214 million DOE grant, the company’s co-founders plan to expand operations with a factory in Minnesota. This company is one of 20 to secure a DOE loan for industrial decarbonization and they are the only one focused on producing chemicals.

5. Biden Links Green Power to Good Pay With Clean Energy Wage Rules – Newsweek

The Biden administration finalized rules that link clean energy tax incentives with higher pay and worker training. Developers will be able to claim larger tax incentives by adhering to wage standards and hiring registered work apprentices. Although some exemptions remain, developers will need at least 10% of their clean energy workforce enrolled in a registered apprenticeship to qualify for the tax credit. This is the first time the government has given incentives to apprentices. 

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Join us every Friday for new episodes of This Week in Cleantech in the Factor This! podcast feed, and tune into new episodes of Factor This! every Monday.

This Week in Cleantech is hosted by Renewable Energy World senior content director John Engel and Tigercomm president Mike Casey. The show is produced by Brian Mendes with research support from Alex Petersen and Clare Quirin.