What a Biden presidency will mean for EVs, renewable energy and Tesla

[Vostok]

We wake this morning with wonderful news that Joe Biden will become the 46th President of the USA. He was very strong during the campaign on the need to properly address climate change and reduce emissions. He even went out on a limb and said the fossil fuel industry needs to be phased out - which of course is true - and still won despite the apocalyptic-level scare campaign it generated.

So what can we expect?

• The USA will rejoin the Paris Climate Change Agreement on 20 January. Biden can do this via Executive Order, it does not need to go through Congress. He said he will do it on Day 1.
• He will unwind every single one of Donald Trump’s efforts to weaken pollution controls and car emissions standards.
• He will formally set a “net zero” emissions target by 2050 for the USA.
• He will unleash billions if not trillions of dollars of investment in renewable energy to transition away from fossil fuels, bringing jobs to the “rust belt” and mid-west. His natural inclination will be to negotiate a package even if the Senate is hostile, as that way the policy becomes more ‘sticky’. But if they become bloody-minded and obstructionist, he does have the option of appropriating the funds by declaring Climate Change to be a national emergency and therefore bypassing Congress. Donald Trump set the precedent by declaring the construction of the Mexican Border wall to be an “emergency” after Congress refused to release the money for it. At least Climate Change is a real emergency rather than a confected one.
• He aims to massively increase the number of EV charging stations around the country.
• He will remove the manufacturer cap on the $7500 EV tax credit and restore the tax credit permanently for US-made electric vehicles, but narrow it to “middle-income” or lower buyers, meaning people with less than $250,000 annual income. This will be enormously helpful to Tesla.
• He aims to to see fossil fuel subsidies cut but this will require legislation through Congress.
• He will reinstate the solar investment tax credit.
• He will reinstate tax credits for residential energy efficiency

Today is a very good day when decency and dignity return to the USA and the world can breathe again!

 

[louco73]

You could have written that post without showing your political stripes. A more neutral post would be welcome and beneficial to all on this forum.

 

[AudubonB]

A political, snarky and Off Topic post has been reported.

To OP: I have been looking for information regarding whether an Executive Order is all that is needed to rejoin the Paris Accord. I'm hoping you're correct, but have you any authoritative reference to that?

 

[aegidius]

I do not see that post as snarky or even terribly political. It was simply reporting on the initiatives that the new President has foreshadowed following well-established and consensus climate science, how they might be enacted, and the opposition they might face.

 

[AudubonB]

I do not see that post as snarky or even terribly political. It was simply reporting on the initiatives that the new President has foreshadowed following well-established and consensus climate science, how they might be enacted, and the opposition they might face.

I was referring to post #2!!!!! Post #4 likewise is reported.
If someone has issue with what the initial post has in its content, refer to that and place rebuttals or clarification. That is why TMC exists. It is not some donnybrook where mudslinging is to occur.

 

[paulp]

There is nothing I can do to influence american voting choices or indeed what their political leaders do, but two things come to mind today. Firstly I’m excited to see the joy and relief generally portrayed in the media. Doesnt matter what country, thats always an amazing thing to watch. Second, I’m excited about the future of my rapidly increasing enphase energy shares. (enph.nas)

 

[paulp]

You could have written that post without showing your political stripes. A more neutral post would be welcome and beneficial to all on this forum.

We already know vostoks political stripes, but his post was by and large very factual. It’s what the incoming president has promised, as opposted to what vostok or anyone else wants.

 

[paulp]

States have certified nothing. Neither Harris or the senile old man are President Elect.

This is the kind of hatred that really needs to cease

 

[Vostok]

To OP: I have been looking for information regarding whether an Executive Order is all that is needed to rejoin the Paris Accord. I'm hoping you're correct, but have you any authoritative reference to that?

The USA joined the Paris Agreement in 2016 via an Executive Order from Barack Obama:

President Obama: The United States Formally Enters the Paris Agreement
https://www.jstor.org/stable/26245362?seq=1

Interestingly, the second article says they fact that Obama did it that way made it possible for Donald Trump to issue another executive order to unilaterally withdraw.

 

[Spacep0d]

You could have written that post without showing your political stripes. A more neutral post would be welcome and beneficial to all on this forum.

Yes, clearly the OP is happy about the outcome but this was a pretty sober reporting of the facts per Biden's own policy promises. I don't find this post offensive at all. Obviously, we all have different opinions about a wide range of topics, so I don't mind that people occasionally reveal their preferences. We drive Teslas, so some Biden support doesn't surprise me here, but this is not to say that everyone who drives Tesla is politically left-leaning.

Speaking for myself, I'm just fine with the post and thought it was informative. I don't agree with Biden and Harris on all of their policies but I think they'll be good for EVs, clean energy, and TSLA stock as well.

 

[moa999]

Think the main issue is it's got no place in the Australia section..

If it talked about the pressure the USA reversal might cause on Australia's climate policy - different story.

The removal of the manufacturer cap on the rebate will be a massive positive for Tesla (given they are the only manufacturer to reach the cap)

 

[Spacep0d]

Think the main issue is it's got no place in the Australia section..

If it talked about the pressure the USA reversal might cause on Australia's climate policy - different story.

The removal of the manufacturer cap on the rebate will be a massive positive for Tesla (given they are the only manufacturer to reach the cap)

Can't argue with that. I just sort by new posts and rarely look at their sections.

 

[paulp]

Think the main issue is it's got no place in the Australia section..

If it talked about the pressure the USA reversal might cause on Australia's climate policy - different story.

The removal of the manufacturer cap on the rebate will be a massive positive for Tesla (given they are the only manufacturer to reach the cap)

Well at least you found two things relevant

 

[MXLRplus]

Hahaha... Good one! Senator For Life Biden will do whatever his campaign donors tell him to do. He has no free will. He's been indentured to his handlers for 47 years.

Let's look at the EV Capitol of the World, California. It is completely controlled by Biden's handlers. They cut the EV rebates dramatically, cut the rates they pay for solar, started taxing cars for being EVs, and spent all their EV money on Hydrogen Fueling Stations.

Why? Hydrogen fuel is supported by Toyota and the petroleum industry. They are big campaign donors in California.

The only green Biden wants to see is kickbacks. Since Tesla doesn't bribe him, don't expect them to get anything from him.

 

[TBone2112]

I do not see that post as snarky or even terribly political. It was simply reporting on the initiatives that the new President has foreshadowed following well-established and consensus climate science, how they might be enacted, and the opposition they might face.

Actually the first couple of sentences in your post say it all. I work in the Solar field and people saying that climate change is an emergency is just weird to me as the earth has been cooling and heating since its creation

 

[Big Dog]

He will unleash billions if not trillions of dollars of investment in renewable energy to transition away from fossil fuels, bringing jobs to the “rust belt” and mid-west. His natural inclination will be to negotiate a package even if the Senate is hostile, as that way the policy becomes more ‘sticky’. But if they become bloody-minded and obstructionist, he does have the option of appropriating the funds by declaring Climate Change to be a national emergency and therefore bypassing Congress. Donald Trump set the precedent by declaring the construction of the Mexican Border wall to be an “emergency” after Congress refused to release the money for it. At least Climate Change is a real emergency rather than a confected one.

Uh, no. Congress still has the power of the purse. A President can redirect a few billion here and a few billion there -- of already appropriated funds -- but that is chump change in DC. To spend any real money on renewable energy, Congress will have to fund it. (That pesky Article I of the Constitution.)

 

[paulp]

Actually the first couple of sentences in your post say it all. I work in the Solar field and people saying that climate change is an emergency is just weird to me as the earth has been cooling and heating since its creation

The key lesson I’ve leant in life is that everyone works in their chosen field. Thats fairly obvious. I’ve also learnt that many are not good at their chosen field. I’m sure we’ve all encountered that too. To imply that you are an expert just because you work in a particular field goes against reality. Thats not to say you arent, but the measure of expertise is generally from proven results.

 

[Brissienew]

I wish we would regard US $250,000 annual income as middle income. Over here, if you are on $180,000 you are rich, and we have a higher median income than the US.

 

[Chuq]

If it talked about the pressure the USA reversal might cause on Australia's climate policy - different story.

What happens in the USA can strongly affect what Tesla does so I think Tesla (and other EV owners) everywhere will have at least some interest in US government policy on EVs and related topics.

As an aside - I found this diagram which indicates what Biden can or can't do, depending on if he has senate or house support:

Via - https://twitter.com/leslietron/status/1324015732024291329

 

[louco73]

We already know vostoks political stripes, but his post was by and large very factual. It’s what the incoming president has promised, as opposted to what vostok or anyone else wants.

Perhaps it's a misunderstanding on my part. I thought the forum was supposed to be apolitical. When someone states "We wake this morning with wonderful news..." then that implied to me that everyone is happy. I think there are 70M+ Americans that are feeling a bit down about the result, thus it's a disenfranchising statement for those readers of this forum. Whereas starting that sentence with "I" is totally different.

As for the content on the policies, it's fantastic to get some policy information on what is likely to happen in a Biden presidency and is very informative. Nothing about nuclear though. Does anyone know his policy on that?