There’s too much money in renewables for rich people. The tariffs may or may not happen, but the renewable switch is a runaway train, and almost entirely in the country.
On the electricity futures market, wind producers regularly sell their power for negative prices (paying transmission companies to take their power) because it’s so cheap for them to make, with such negligible overhead; since the government subsidies are based on the mWh they produce, they can sell it at a loss and still make money. But even if those subsidies go away, renewables can still easily undercut every other producer on the grid.
That’s just one example. The same tipping point is approaching fast all over just about every industry. Obama and Biden got the renewable energy industry over the hump of research and infrastructure outlay, so now Tr*mp gets to take the credit for their work while it all falls into place; and because the rich people are benefiting from it financially, they’re going to protect the industry.
The 100% tariffs on Chinese EVs already happened in September. Joe Biden announced them in May and they kicked off already. I don’t expect Trump to change anything with that.
Definitely true, though Elon paid enough money to Trump that he’s probably going to make sure there’s a cutout in any tariffs for Tesla’s batteries (which are largely made by CATL in China). Besides, cheap power means that even with tariffs raising the prices of batteries, BEVs are still going to be worth driving.
There’s too much money in renewables for rich people. The tariffs may or may not happen, but the renewable switch is a runaway train, and almost entirely in the country.
On the electricity futures market, wind producers regularly sell their power for negative prices (paying transmission companies to take their power) because it’s so cheap for them to make, with such negligible overhead; since the government subsidies are based on the mWh they produce, they can sell it at a loss and still make money. But even if those subsidies go away, renewables can still easily undercut every other producer on the grid.
That’s just one example. The same tipping point is approaching fast all over just about every industry. Obama and Biden got the renewable energy industry over the hump of research and infrastructure outlay, so now Tr*mp gets to take the credit for their work while it all falls into place; and because the rich people are benefiting from it financially, they’re going to protect the industry.
The 100% tariffs on Chinese EVs already happened in September. Joe Biden announced them in May and they kicked off already. I don’t expect Trump to change anything with that.
I’m talking about batteries, specifically. And the US is decades behind on batteries.
Definitely true, though Elon paid enough money to Trump that he’s probably going to make sure there’s a cutout in any tariffs for Tesla’s batteries (which are largely made by CATL in China). Besides, cheap power means that even with tariffs raising the prices of batteries, BEVs are still going to be worth driving.