Everyone knows the future is green. The question is when and how? Joe Biden seems to be well-informed about the potential of clean energy, which makes a lot of sense considering his home state of Delaware is one of the leading generators of wind power in the U.S.
Moreover, as we all know, he has also announced his intention to run for president in 2020. So far so good.
But many people are concerned about investing their money into renewable energy projects now that it seems there will be more support from Uncle Sam soon. After all, we have seen this movie before.
Most industries have been supported by government subsidies at some point in history—sometimes with great success (like with railroads), but often with disastrous results (like with sugar beet production).
Is now really the right time to invest in renewable energy?
There will always be renewed interest in this sector, but what we are seeing now is something different
After years of uncertainty about the future of green energy, it seems the right people are in charge of the government and have a very strong desire to promote clean energy. It is no longer just a nice idea, but a part of their political agenda. Joe Biden is a great example of a person who is committed to this cause.
His campaign promises include providing $200 billion in federal funding over 10 years to promote clean energy and $369 billion in clean energy research and development over 10 years.
He also promised to end tax breaks for the fossil fuel industry, thus increasing the pressure on them to leave more room for renewable energy. What’s more, the government (or Uncle Sam, to be more precise) has already started to channel money into green projects:
The Department of Energy awarded $100 million to six projects to develop innovative battery technologies to store renewable energy.
Joe Biden is willing to bring 369$ billion into renewable energy projects.
As we have seen, Biden has his heart set on this issue. His main campaign promise is to invest lots of money into clean energy projects.
He has even created a campaign slogan: “We can’t afford to fight climate change”. To be more precise, Biden has promised to spend $200 billion over 10 years to promote clean energy and $369 billion over 10 years to invest in clean energy research and development (R&D).
These are huge sums of money, especially given the fact that the U.S. federal budget is just $4 trillion. But Biden claims that the government’s investment in clean energy will be paid back with interest.
What kind of investment(s) should you make shortly?
As we have seen, Biden plans to invest in three categories:
– Promoting clean energy: This includes funding research and development of clean energy technologies, helping to build infrastructure for clean energy, and investing in organizations that are advocating for clean energy.
– Investing in clean energy R&D: This type of investment will be focused on creating the next generation of clean energy technologies, such as new batteries, solar panels, and wind turbines.
– Investing in clean energy projects: This is the most common way to invest in the clean energy sector and will involve a wide variety of options, including investing in renewable energy projects, such as wind farms and solar panels.
The bottom line
The future is green, and the warmer it gets, the more people will be interested in renewable energy. That’s why now is a great time to invest in this sector—especially now that the government has made it clear that it will be investing heavily in this area as well.
