Market analyst Wood Mackenzie published a report laying the cards on the table as to what the future of clean energy and electric vehicles may look like following the November 3 election.
On one hand, President Donald Trump is promising to maintain the status quo somehow favouring oil, gas and coal and rejecting the idea of cutting greenhouse gas emissions.
Contender Joe Biden, on the other hand, promises to launch a “clean energy revolution” whose goal is to reach net-zero emissions by 2050.
According to Ed Crooks, Wood Mac’s vice chair for the Americas, Biden’s proposal would entail one of the most radical infrastructure overhauls in US history, particularly the aspect related to creating a carbon-free electricity system by 2035.
“The plan creates enormous opportunities: it could mean a seven-fold expansion of US onshore wind and utility-scale solar generation capacity, coupled with steep growth in offshore wind and battery storage,” Crooks writes in the report.
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