Trump’s presidency casts doubt on US renewable energy prospects, says GlobalData

With the election of Donald Trump as president of the US, the country’s domestic energy policy is poised to witness the reversal of a number of major environmental policies of outgoing President Barack Obama, leaving the renewable energy sector at risk, according to research and consulting firm GlobalData. The company’s latest analysis states that clean energy investors are worried that the new president will put renewable energy sources in jeopardy by moving away from Obama’s Clean Power Plan and exiting the Paris agreement. Indeed, a number of US solar companies have already witnessed a decline in stock value, including First Solar and SunPower Corporation, while coal stocks have received a boost. Previously, GlobalData projected that renewables excluding hydropower would be the fastest growing power source in the US, increasing to an installed capacity of 216 Gigawatts by 2025, but this is subject to change depending on the new government’s energy policies. ….