Renewable Energy and the 2020 Election
As November approaches, the 2020 U.S. Presidential Election is looming large. The future of renewable energy in the country could change dramatically based on who sits in the Oval Office for the next four years. As renewable energy has grown in popularity in the United States, candidates and presidents are expected to address it within their energy platforms, even if they are not very supportive of the industry.
The current President, Donald Trump, has not shown much support for renewable energy during his time in office, and that trend continues to the present day. He has repeatedly questioned the effectiveness of wind power, while his administration has cut staff for the National Renewable Energy Coordination Office and prevented lease sales of public lands to wind and solar energy providers. As part of the government’s COVID-19 relief efforts, the Trump administration has offered support to struggling oil and gas producers but has not provided any additional support to the renewable energy industry. Benefits for oil and gas producers include loan extensions and royalty reductions for the use of public land and offshore waters. Fossil fuel companies have also been able to use COVID-19 as a valid reason for not complying with specific environmental regulations. The renewable energy industry has only received some baseline tax relief, but companies have also had to contend with the end of a rent holiday for money they owe the federal government for wind and solar installations on public lands.
President Trump’s statements have consistently placed him firmly on the side of fossil fuel producers rather than renewable energy providers. He has called the Obama-era Clean Power Plan “job-killing” and praised increased oil and natural gas production. He has called for expanded oil drilling on federal and state lands. When he mentions renewable energy, it is often in the context of the “war on energy,” usually used to refer to energy and environmental regulations restricting the activities of the fossil fuel industry.
In his rhetoric regarding the upcoming election, President Trump has condemned the Democratic party’s negative attitude towards fossil fuels. In a recent speech to Texas oil drillers, he called out Joe Biden for allegedly being against fracking, said that the Democratic party wants to end the use of natural gas and oil, and predicted that these kinds of policies “would mean the death of American prosperity.”
If President Trump is re-elected in November, his past and current views on renewable energy will likely continue to set the tone for how his administration deals with the industry. While renewable energy has been doing very well in the last few years despite the lack of support from the federal government, the industry has been hit hard by COVID-19. It may struggle to achieve the kind of growth that was previously projected without any substantial governmental assistance.
President Trump’s Democratic opponent, former Vice President Joe Biden, has released a detailed climate plan (The Biden Plan) in the run-up to the national election, which addresses his views on renewable energy. The Biden Plan calls for net-zero emissions and a 100% clean energy economy by 2050. He has later revised this to say that he may push for this goal by 2035. One of the main components of this goal is increased investment in clean energy research and development. Biden has stated that he is interested in spearheading and funding a considerable increase in solar and wind installations across the country to prepare for a fully renewable future.
In his climate plan and other statements, Biden has said that he wants to build on the energy policies of the Obama-Biden administration. One major policy that he has cited is the Recovery Act, in which the former administration invested heavily in renewable energy during the aftermath of the 2008 financial crisis. Additionally, he has said that he will not be accepting campaign donations from fossil fuel companies during the election cycle.
While mainstream Democrats and environmentalists have widely embraced Biden’s plan, there are a few aspects of his proposals that are more unexpected and more lenient towards the fossil fuel industry. He has signaled approval for carbon capture technologies, which are thought by some to be a way for fossil fuel companies to continue to stay in operation with limited consequences. He has not called for a ban on hydraulic fracking, a common demand from environmentalist groups. He has also indicated he is open to the use of nuclear power, a contentious issue within the renewable energy community. In general, his plan is not as hard on the industry as it could have been, and some oil and gas executives believe they might be able to work with Biden if he is elected. However, his plan is explicitly anti-coal, leaving coal executives still firmly on President Trump’s side.
Biden’s recent choice of Kamala Harris as his running mate indicates that he is especially interested in the intersection of energy policy and environmental justice. Harris is a strong proponent of environmental justice, and her recent work in the Senate has focused on the empowerment of poor and minority communities. Biden has stated that 40% of the money he intends to set aside for clean energy will go to historically disadvantaged communities, signifying that he is also committed to environmental justice on a national level.
Biden’s energy plan is undoubtedly ambitious, and it would take considerable support in Congress for his ideas to become a reality. However, if he does win in November and can enact even some of the policies he has proposed, there could be substantial benefits for the renewable energy industry, allowing it to grow more than ever before.
