Friday, March 17, 2017

USA: Proposed Trump Budget Cuts Will Probably Not Slow the Momentum of Renewable Energy Installations

Here’s what Trump’s budget means for renewable energy (ARN)

No regulation adjustments or budget cuts will likely slow the adoption of renewable energy

The Trump administration on Thursday released a preliminary 2018 budget proposal outlining changes to discretionary spending that, if implemented, would likely cut spending on renewable energy.

Among a list of 15 government entities that would see cuts under the proposed budget, two that could affect renewable energy programs are the Environmental Protection Agency (EPA) and the Department of Energy (DOE). Trump has proposed a 31% cut in spending for the EPA and a 6% cut for the Energy Department.

The budget proposal also seeks to cut funding for the DOE's Office of Energy Efficiency and Renewables (which includes the Geothermal Technologies Office - GTO) and the Advanced Research Projects Agency-Energy (ARPA-E) and "takes a big axe to the EPA's budget," said Raj Prabhu, CEO of Mercom Capital Group, a clean energy research firm.

Even with the budget proposal, experts do not believe the momentum of renewable energy installations will slow down.