Leggo my Eggo
China Is Going All In On Clean Energy As The U.S. Waffles. How Is That Making America Great Again?
For months, the clean energy discussion in the U.S. has been dominated by two questions: First, will the new administration really turn its back on the climate and clean energy policies that have helped create a burgeoning American industry? And if it does, how serious a blow will that be for the sector—and the global transition to clean energy?
China just answered the second question. On January 5, Reuters reported that China’s National Energy Administration (NEA) had announced in the next three years alone, China will invest $361 billion in renewable power generation. The spending comes as the cost of building large-scale solar plants has dropped by as much as 40 percent since 2010. While the Trump administration talks about renewing an outdated love affair with coal and oil, China’s investment is poised to generate over 13 million jobs in the clean energy sector.
In other words, the global energy transition is going to be fine. Whether we’ll be fine remains to be seen. Because if President-elect Trump follows through on his campaign promise to withdraw from the Paris climate agreement, he won't just be turning a blind eye to the science of climate change, he'll be hurting American businesses.
Climate progress creates jobs, innovation and investment opportunities in the clean energy economy, and protections for clean air and natural resources provide guardrails for long-term business resilience. The momentum we’ve established also positions the U.S. as a leader in the global discourse on climate.
By shirking America’s responsibilities as the world’s leading innovator and second largest emitter, Trump and his cabinet would be ringing the dinner bell for China and the European Union to assume the global leadership role on climate and clean energy, with all the job growth and economic opportunities that go with it.
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