Clean power is growing, but that can change with simple policy shifts
Renewable energy has made impressive gains in the United States over the past few years, but its future is still uncertain. The federal government is currently in the midst of making changes to energy policies. The Trump Administration intends to show significantly more support for fossil-fuels, hoping to revitalize the coal and oil industries. As such, there have been cuts to renewable energy research and development funds. The country’s Clean Power Plan has also been repealed and the government could introduce new tariffs that could derail the progress that the solar energy sector has made recently.
New trade tariffs may be imposed on the solar sector
The federal government is currently considering new trade tariffs that would target imported solar panels. These products are typically brought to the United States and sold for significantly less than products developed domestically. Some solar manufacturers have argued that these imports have made it impossible for them to do business. The International Trade Commission recently reviewed the matter and supports the introduction of new trade tariffs. Solar energy advocates believe that these tariffs will damage the solar industry.
Tariffs could halt the growth of the solar energy space
If these tariffs are introduced, they may effectively halt the growth of the solar energy sector in many states. As such, several thousand jobs within the solar industry may end up being terminated as a result. The Solar Energy Industries Association believes that the trade tariffs issue is the most important problem that is facing the solar sector currently. The organization suggests that the tariffs would put some 260,000 jobs at risk and they could lead to a significant increase in the overall cost of solar power.
Federal government is beginning to move away from renewable energy
The renewable energy sector is often subject to the whims of politics. The Trump Administration has been somewhat vocal against certain forms of clean power. President Trump recently announced that the United States would be pulling out of the Paris Agreement. This agreement involves countries embracing renewable energy in order to cut emissions and the consumption of fossil-fuels.