President-elect Trump declared his intention to cease the construction of new windmills, citing their cost, reliance on subsidies, and lack of public support. This announcement has sent ripples of concern through the wind energy sector, which has already been grappling with rising interest rates and financing challenges. Despite these obstacles, wind power has witnessed substantial growth in the U.S. in recent years.
We're going to try and have a policy where no windmills are being built,' Trump told reporters at a press conference at his Mar-a-Lago home in Florida on Tuesday afternoon.The president-elect went on a lengthy attack against wind turbines during yesterday's press conference, arguing that they are too expensive, require subsidies and lack public support.
Trump's opposition to wind power creates further challenges for an industry that has already struggled in the face of high interest rates that have raised the cost of developing new projects more expensive. In late 2023, for example,Still, wind power has expanded in the U.S., growing from 2.4 gigawatts in 2000 to 150 gigawatts by April 2024, according to data from the Energy Information Administration. Electricity generation from wind hit a record in April 2024 and beat generation from coal-fired plants, according to EIA data.Here are Goldman Sachs' favorite energy and clean tech plays for 202
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