The deficit-boosting bill President Donald Trump signed into law last Friday included provisions that will undermine US clean energy development. Indeed, a team led by Princeton energy expert Jesse Jenkins estimates that it will reduce US solar and wind output by at least 300 gigawatts by 2035—enough to power some 225 million homes. But some Republicans still thought the bill didn’t go far enough. After a failed last-minute bid to add further subsidy cuts and an industry-killing renewables tax to the bill, Republicans agreed to vote yes after Trump promised to take matters into his own hands. He delivered on Monday with an executive order titled “Ending Market Distorting Subsidies for Unreliable Foreign Controlled Energy Sources.” The order basically instructs the Treasury Department to deny a developer’s application for soon-to-disappear clean energy subsidies “unless a substantial portion” of their project is already built. It also directs the Department of… ...[TheTopNews] Read More.
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