One of China’s largest solar power companies, which was originally set to receive nearly $2 billion in President Joe Biden’s climate change stimulus money, will sell its new plant in Texas.
Solar power company Trina Solar insists the decision has nothing to do with President-elect Donald Trump’s anti-China stance or Biden’s pledge to eliminate environmental incentives. According to Go to Politico. But experts suggest the sale points to President Trump’s influence on energy markets as he seeks to curb China’s economic influence.
President Trump has proposed imposing broad tariffs of 10% to 20% on all imported goods, with additional tariffs of up to 100% on Chinese goods, CNBC reported. reported. He argues that the plan would generate revenue for the United States and ensure that rival countries contribute financially.
Politico reports that a bipartisan bill has already been passed that would block China-linked solar companies from receiving U.S. tax incentives. Nick Iacovera, a former aide to Sen. Marco Rubio and vice president of the Coalition for a Prosperous America, said Trina Solar’s decision to sell to battery maker Frey Corp. He said regulations could be circumvented.
The good, the bad and the ugly: Biden’s climate bill is two years old https://t.co/vy2AVuPqee
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The sale underscores continuing tensions over Chinese-built solar farms in the United States, with advocates saying facilities like Trina could use Chinese technology to It claims to be creating jobs and lowering the cost of clean energy, Politico reported. But critics warn that such dependence will hamper U.S. clean energy production.
Meanwhile, President Trump’s plan to claw back unused climate funds could limit the law’s impact, especially as Republicans move closer to taking full control of Congress. According to Politico, U.S. clean energy companies have pledged $153.4 billion in investments and 160,000 jobs since the law was passed, and the biggest beneficiaries are likely to be Republican districts. (Related: The good, the bad, and the ugly: Biden’s climate bill, two years on)
Biden-Harris administration announced $149.87 million in funding for 67 clean energy and conservation projects across 28 states, six international locations, and federal facilities. Supported by bipartisan infrastructure legislation, these projects will reduce pollution, create good-paying jobs, reduce the federal government’s carbon footprint, and reduce greenhouse gas emissions to net zero by 2045. The aim is to advance the goal of
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