I subscribe to a variety of publications, some quite pricey including an investment newsletter that monitors the global energy sector, called Oil & Energy Investor by former CIA analyst Dr. Kent Moors.
While I will not be passing on stock tips, I find his insights into the global energy picture to be illuminating. And a good way to monitor the practical implications of policy decisions.
He is an advocate for a balance of energy sources, and more recently has stressed the need for what he calls, “interchangeable energy resources.” We will explore that topic more in the future.
But today, I wish to focus on his current observations about solar.
He points out that nobody associated with the incoming administration has said anything negative about solar.
He points out that solar has made significant gains in the past number of years and has reached what he calls, “Grid Parity.” Meaning that the solar is now on an even footing with most other energy sources when it comes to production and distribution costs. He notes that most of that progress has occurred in the private sector without governmental subsidies.
That said, where subsidies do exist has been on the local level, by state and federal tax credits designed to stimulate installation of solar on homes and businesses. The end users.
These subsidies have been largely motivated by the desire to lessen the adverse effects of climate change. And that is clearly an item taht appears to be on the Trump admins chopping block.
When compounded by congressional budget cutters eager to eliminate subsidies to ordinary people, a new set of challenges occur.
While it seems as though the new admin is more than willing to cut taxes and loosen regulations on the fossil fuel industry, they are less willing to share the wealth with individual homeowners and businesses seeking to do the right thing by the climate.
The strange thing about all this, as Dr Moors points out, is that the largest oil producers, Saudi Arabia and the United Arab Emirates have developed some of the world’s largest solar generating complexes. They are diversifying their energy resources, recognizing their long term sustainability.
While renewable may have an immediate challenge in the next few years, their ultimate role seems to be inevitable.
As such we can and should be doing everything we can to assert the role of solar as part of an interconnected multi faceted energy strategy.
A strategy that also offers the promise of genuine NEW job creation in both the manufacturing and construction sectors throughout the entire United States and not just energy rich communities.
And such a strategy would certainly be a viable asset to a long term policy of true energy self sufficiency for the nation.
Cartoon via: http://theweek.com/?utm_campaign=newsletter&utm_source=cartoon&utm_medium=11_17_16-tw_banner
U.S. President-elect Donald Trump has called global warming a “hoax” and pledged during the campaign to “cancel” the Paris deal aimed at fighting climate change.