November 16, 2016 Read More →

China and India Will Step in Wherever U.S. Renewable Investment Slips

Maria Gallucci for Mashable:

China and India stand to benefit if America’s progress on clean energy slips under President-elect Donald Trump, energy experts say.

Trump has vowed to gut U.S. climate policies that favor wind, solar and other lower-emissions technologies and instead revive the struggling coal sector.

But the world’s energy market is moving in the opposite direction, the International Energy Agency (IEA) said Wednesday in its annual World Energy Outlook.

Clean energy is projected to grow exponentially in the next two decades as countries work to reduce greenhouse gas emissions and fight climate change while expanding access to electricity. The shift will create millions more jobs and spur trillions of dollars in annual investment, the Paris-based IEA sai

The U.S. could forfeit some of those economic gains if Trump lives up to his campaign promises to reinvigorate the fossil fuel sector and tackle “real environmental challenges” instead of “phony” ones like climate change.

China and India — two rapidly growing economies with rising energy needs — would gladly pick up that slack, said Tim Buckley, director of energy finance studies for the Institute for Energy Economics and Financial Analysis.

“China and India are very happy to have the global leadership of industries of the future that employ millions of people and are seeing close to $2 trillion of investment a year,” Buckley said, citing figures from the new report.

“If America wants to forfeit that leadership, or erode it, then China or India will very happily grasp it,” he said.

China and India, each of which are home to over a billion people and counting, represent a significant share of the renewable energy projections outlined in the report. The IEA said renewables could represent the largest source of power generation in both countries within two decades.

China has already warned Trump not to back away from U.S. commitments under the Paris Climate Agreement, and signaled that it would lead future climate negotiations if the U.S. were to step back.

Full article: China, India would pick up America’s clean energy slack under Trump

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