Trump, the presumptive Republican presidential nominee, has indicated he will attempt to roll back Biden’s landmark climate law if he returns to office.
He is expected to increase investment in fossil fuels and expand oil and gas drilling under his “drill, baby, drill” pledge.
A SUNNY ENERGY FUTURE
Still, New Mexico is continuing to invest in its green energy future.
Singapore-based solar company Maxeon is building a nearly 2 million sq ft plant in the state’s largest city Albuquerque, where it aims to produce up to 8 million solar cells per year.
Analysts said the solar industry’s future is looking bright, as clean energy projects continue to stream into the state.
“We’re unlikely to see profound changes in the solar buildout no matter who wins (the election),” said vice president of non-profit advocacy group Evergreen Action Craig Segall. He added that renewable energy is cheaper, more readily available and more reliable compared to fossil fuels.
“So, once we have gotten over this initial hump, we have begun building out the infrastructure we need, it will be… really rare to just decide to shut off a profitable investment,” he said.
In the latest legislative session, state lawmakers signed off on a tax package that includes incentives for clean energy manufacturers. Under the initiative, authorities could offset a fifth of the cost of equipment needed for the production of items such as solar panels or batteries.
Currently, around 6 per cent of the state’s power comes from solar panels.
With a statewide goal of completely carbon-free electricity by 2045, experts believe renewable energy will continue to be a safe bet in one of the sunniest states in the country, regardless of who returns to the White House in January.
