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Donald Trump’s election victory deals blow to US clean energy industry.

Developers of solar and battery recycling projects put plans on hold amid concern
about policy and federal funding support.

Donald Trump’s US election victory has dealt a blow to the renewable energy industry, prompting at least half a dozen developers to put projects on hold and investors to dump
shares.

Canadian solar manufacturer Heliene is pausing progress on its
$150mn plan to manufacture solar cells in the US until it gets more policy
clarity from the incoming Trump administration. Battery recycling start-up
Princeton NuEnergy is reconsidering its timeline to build a $300mn factory
in 2028, the companies told the Financial Times. Clean energy fears Trump’s
re-election spells doom for the industry.

The president-elect has vowed to
turbo-charge the country’s oil and gas production and do away with
President Joe Biden’s climate policies on the campaign trail, including
repealing the Inflation Reduction Act, the strongest action the US has
taken to boost renewable energy.

FT 11th Nov 2024 https://www.ft.com/content/8bcb24f3-4deb-4500-8880-cf46a4670463

November 13, 2024 - Posted by Christina Macpherson | renewable