US clean energy associations, including the American Clean Power Association (ACP) and Solar Energy Industries Association (SEIA), congratulated Donald Trump on his recent presidential win, emphasizing the industry's role in job creation and domestic energy security amidst uncertainty over the new administration's energy policies.
ACP CEO Jason Grumet stated, “ACP looks forward to working with the Trump-Vance Administration to unleash American-made energy, deliver reliable power to the grid, grow the economy, and enhance our national security.” He noted that clean energy investment has consistently fueled economic expansion, creating jobs and manufacturing growth nationwide. SEIA President Abigail Ross Hopper highlighted solar and storage industries as essential to meeting the country's energy needs and expressed optimism for continued collaboration under the new administration.
The Solar Energy Manufacturers for America (SEMA) Coalition, including companies like First Solar and Qcells, voiced support for policies emphasizing US manufacturing. SEMA Executive Director Mike Carr praised Trump's previous trade actions for supporting American solar manufacturers and reducing reliance on Chinese supply chains. “With solar as the cheapest form of energy on the grid, we look forward to continuing to bring back American manufacturing and reduce our reliance on Chinese-controlled supply chains,” Carr said.
A BloombergNEF (BNEF) report forecasts strong clean energy growth, projecting 1,118 GW of new solar, wind, and storage capacity from 2025 to 2035. However, potential policy shifts, including modifications to the Inflation Reduction Act (IRA), could impact these projections. Although BNEF finds a full repeal of IRA tax credits unlikely, changes could especially affect wind energy growth. Nonetheless, renewable energy's competitive pricing and demand are expected to sustain long-term expansion.
BNEF also anticipates that a Trump administration may implement stricter tariffs on imported clean energy equipment, impacting sectors like solar, wind, and storage. The election news has already influenced renewable energy stock performance, reflecting market sensitivity to potential policy shifts.
