All across the globe, all eyes are currently on the American election, which appears to be far from over — with a few key states yet to release their final ballot counts. While things could go either way, it’s worth exploring the impact that a Joe Biden win could have on our neighbour’s renewable energy industry south of the border.
For those who’ve been following, you may have noticed that Biden’s platform is very favorable to renewable energy, specifically residential solar.
Biden proposed upwards of $2 trillion to address the climate crisis — and a Biden-led task force has also called for installing eight million solar roofs, cutting red tape to accelerate faster permitting. As well, his tax plan requests that Congress expands renewable energy tax credits and restore the federal Energy Investment Tax Credit available to U.S. homeowners who buy/finance rooftop solar (currently set to be phased out by 2022).
It’s a move that analysts say would accelerate growth and make solar even more competitive.
The former Vice President made climate change a central issue of his campaign — a clear contrast to the Trump administration.
On his website, he notes that the Green New Deal (a set of goals established by Democrats in Congress) provides “a crucial framework for meeting the climate challenges we face.” Supporters of the Green New Deal aim to transform current U.S. energy and transportation industries, driving down greenhouse-gas emissions to zero and transitioning to renewable power sources.