Biden’s clean sweep for energy transformation

Published onNovember 19, 2020

After a tense and polarized US election, Joe Biden’s victory promises a major change in direction on energy policy after four years of climate-change denial by the Trump administration. Biden’s election platform included ambitious goals – ensuring that electricity production would be carbon-free and largely renewable by 2035, achieving carbon neutrality by 2050, investing in research and development and new power infrastructure, upgrading the national electricity grid, extending and electrifying rail transport, and developing better energy storage/batteries and electric mobility, among other decarbonization initiatives. This ambitious plan also took into account the energy transition accelerating in countries such as China, the EU states, Japan, South Korea and many others – developments that risk the US being left behind in the next industrial revolution…It is expected that a significant portion of the bill – around $600 billion – will be allocated to clean energy and infrastructure. This will largely target renewables, but also nuclear energy, green jobs and ramped-up R&D investments. That investment will provide an immediate boost to renewable energy.