Wind And Solar Face Real Damage Under Trump Laws
The new Trump budget would create significant hurdles for both solar and wind energy. Some of the damage has already been done. Trump has implemented regulations that have halted the construction of offshore wind farms.Â
According to Bloomberg, “Key tax incentives for US wind and solar projects would face a more aggressive phase-out in the Senate’s latest version of President Donald Trump’s spending package released late on Friday.” Most solar and wind installations become more expensive as the government withdraws its financial support altogether.Â
Some companies will dodge the problems for now. If their projects are down by 2027, they may qualify for some level of government aid.
Tesla Damage
The most immediate and challenging problem is tax credits for home solar installations and EVs. The chance that people will install residential solar power will almost certainly drop sharply.Â
There will be as much damage to the EV business, and that will hit Tesla particularly hard. The $7,500 credit on EVs brought prices down by 20% or more for many buyers. It is not unusual for a Tesla to have a retail price of $50,000 or more. The Tesla Cybertruck can cost as much as $100,000,
GM and Ford face similar problems with their EV inventories. However, these now account for approximately 5% of their total monthly sales. Despite their best efforts, they remain gas-powered engine companies
