After four years out of office, Donald Trump will be back in the White House to become the 47th president of the United States. U.S. The Republican sured Democratic Party candidate Kamala Harris by reaching the majority of the 538 Electoral College delegates.
But what are Trump's goals for the energy sector? In his government plan, published on his official website, the new American president contains a chapter dedicated solely to energy generation.
The Republican advocates increasing energy production in all areas and, to this end, promises to end the restrictions imposed by the Biden istration on the oil, gas and coal sectors. The measure aims to make the United States energy independent from other countries and reduce energy prices across the entire matrix.
Trump emphasizes that one of his intentions is to make the US territory the number one producer of oil and natural gas in the world. The president-elect also included as one of his goals revitalizing the US automobile industry.
With this measure, the plan aims to restrict the import of Chinese electric vehicles, seeking to strengthen national production and recover the sector's competitiveness.
According to EIA data (US Energy Information istration), the energy matrix of the United States is currently divided as follows: 60% are fossil fuels; 18,6% come from nuclear energy, and another 21,4% from renewable sources.
Solar stocks fall as Trump wins
In the financial market, the solar energy sector saw a drop in the shares of companies in the segment after the confirmation of Trump's return to the White House. According to the news channel CNBC, the shares of solar manufacturers First Solar e Enphase fell 14% and 12%, respectively.
A Nexttracker also fell 12%, while shares of companies that provide solar energy services, such as Sunrun and Sunnova, fell 18% and 21%, respectively.
Although the president-elect's plan does not mention specific changes in benefits for renewable energy, there is market apprehension that possible adjustments to the IRA (Inflation Reduction Act) could affect the sector.
This is because the measure implemented by the Biden government includes a series of incentives for electric vehicles, solar and wind energy and other clean energy technologies.
The market fears that the new government may revoke some of the measures granted to the sector. However, according to experts interviewed by Reuters It would be nearly impossible to repeal the current law since renewable sources have the of Republican states.
“The jobs and economic benefits have been so great in Republican states that it’s hard to see an istration say they don’t like that,” said Carl Fleming, a partner at the law firm McDermott Will & Emeryor a Reuters.
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