President Obama’s recently announced Clean Power Plan (CPP) is aimed at reducing the country’s carbon emissions and encouraging innovation in the renewable energy sector.
But have you thought about how it will help the country’s economy? These new regulations on energy production could bring several benefits to the markets, and investors should be taking note.
First, the push for cleaner energy will bring about new job opportunities. Solar power production already employs 58% more people than coal power production, another sign that the dirty fossil fuel is on its way out. The CPP could encourage a growth of a quarter million jobs by 2040.
Look, this is an obvious market benefit, especially considering that a growing workforce means more people with money to put back into the economy. What’s more, renewable energy will encourage local investments.
Next, the CPP will encourage energy efficiency, as states will be working to cut the costs of many cleaner fuels such as nuclear power, natural gas, and renewable sources. A major benefit of the plan is that states have the freedom to decide how they will meet the requirements set by the Environmental Protection Agency (EPA).
This kind of freedom will help set in stone the advancements already made into the clean energy sector, and promote further innovation.
The final benefit of the CPP is, in fact, this kind of innovation. More investments will go into smaller companies with huge room to grow into the changing markets, and new technologies will be popular. Already the U.S. Department of Energy is funding new nuclear reactor designs, hydropower dams are being upgraded, and companies like SolarCity and Tesla are making solar power more commercially available.
The CPP will also boost the push for lithium batteries this way, as renewable energy sources, and increasingly conventional sources, require more advanced energy storage technologies.
The Clean Power Plan will not bring the U.S. to 100% renewable power by its end goal of 2030, but it will be a major boon to many cleaner energy markets.
To continue reading…
Click here to read the Forbes article.
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