On the 20th of January, Joe Biden will make his debut as President of the United States. When we talk about energy policy at a global level, any change in the presidency makes us wonder what will be the next move in that country. And as always, we are interested in knowing what energy policy will be introduced by the new president of one of the most powerful countries in the world.
In this week’s article, we explain the keys points on Joe Biden’s energy policy. If you want to know more, keep on reading:
Joe Biden’s vision on energy future: the clean energy revolution is here
What does it mean to be “afraid of energy efficiency”?
Yes, that fear of thinking that being efficient and sustainable is expensive, has no return on investment, will not be worth it, means more effort than benefit, etc.
Well, this “Fear of Energy Efficiency” was, in some way, what Trump’s energy program seemed to have.
The first thing I can tell you about Joe Biden’s vision is that – he is not afraid of energy efficiency. And his energy plan, which he has called “The Clean Energy Revolution”, is proof of this.
Overall, Joe Biden sees the climate challenge as an opportunity to revitalise the U.S. energy sector and boost growth throughout the economy by creating new industries that will stimulate its production and create new, high-quality jobs.
To reach his goals, he plans to invest $1.7 trillion over the next 10 years, to make the United States a 100% clean, zero-emissions economy by 2050.
And who will be the person in charge of leading this “Energy Revolution”?
The new president of the USA has chosen Jennifer M. Granholm as the Secretary of Energy for the new American government. She is one of the most avid advocates of the country’s decarbonisation, committed to renewable energies and the model of electric mobility.
The 7 key points of Joe Biden’s Energy and Climate Change Plan
What does Joe Biden mean when he talks about the “Clean Energy Revolution”? We checked his official website and took note of the main ideas of his plan.
This is how Biden’s energy and climate change plan will address the energy transition from fossil fuels to clean energy resources:
1. Immediate return to the Paris Climate Agreement, which sets out actions to decrease greenhouse gas emissions. The United States is responsible for 15% of global emissions and knows that it must join the global effort to achieve the targets for CO₂ reduction and avoid the 2°C temperature increase.
2. Setting more aggressive limits on methane emission for new and existing oil and gas operations and providing tax incentives for carbon capture, utilisation and storage technology (CCUS). The objective: to achieve a carbon-free energy sector by 2035.
3. Making a historic investment in R&D that encourages the development of clean technologies throughout the economy. Aim: to make the United States the engine of the global clean energy economy with public investment in innovation of 400 billion dollars in 10 years.
For example, it will provide incentives and financial support to those industries that change their manufacturing model to a more efficient and sustainable one.
4. Building a modern and sustainable infrastructure that ensures that buildings, water, transport, and energy infrastructure can withstand the impact of climate change. This action will involve creating and rebuilding: smart roads, water systems, airports, schools, railways, ferries, ports, and universal broadband access (the famous 5G).
5. Making large investments in energy efficiency for buildings. This would include 4 million renovations and the construction of 1.5 million new homes. Besides, it will create a funding and incentive mechanism to encourage the modernisation of the country’s buildings’ stock. In other words, it will give incentives to buildings that improve their energy efficiency through modifications to electrical installations and the generation of clean energy on-site.
6. Creating new energy efficiency standards for buildings and facilities, as well as for electronic equipment and devices. In other words, there will be new standards for sustainable construction and for energy efficiency certification of buildings.
Here are some examples of the most well-known sustainable design certifications that could be applied to buildings: BREEAM, LEED, WELL, and Passivhaus.
7. Promoting the commitment to zero-emission mobility, in other words, the development of electric vehicles. And how will the new Biden’s government do this?
- They will draw up new fuel-saving regulations,
- The construction of new charging stations for electric vehicles will increase.
- They will give incentive to the development and acquisition of electric vehicles.
Thanks to these initiatives, this government aims to ensure that 100% of the new vehicles’ sales are zero-emission models.
This part of his energy and climate change plan is already having a positive effect. Such as the increase of private investment in companies that are betting on electric vehicles. An example of this is Tesla’s stock market rise following Joe Biden’s victory.
All these initiatives will not only benefit the planet but will also contribute to the creation of new employment opportunities. More specifically, Joe Biden plans to create 10 million jobs through the opportunities provided by a vision of the economy based on sustainability and energy efficiency.
We don’t know if the President of the United States will achieve the ambitious goals of his plan for the “Clean Energy Revolution”, but what we do know is that the trend, now more than ever, is towards sustainability and energy efficiency.
According to Goldman Sachs, global investment in renewable energy will reach record levels by 2021, and will soar to 16 trillion dollars by 2030.
This suggests that we are entering a decade that is crucial for the energy and energy efficiency technologies sectors. That is why, now more than ever, using cutting-edge energy management tools such as DEXMA to detect, analyse and optimise the energy consumption of your company or your clients will become part of your company’s strategic plan. Try it for free here.
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