Large U.S. Companies Driving the Renewable Energy Revolution in Trump’s Country

Trump plans to reduce the renewable energy budget by 70%.

Walmart, General Motors and Nike are only a few of the American companies that have decided that going green is a good way to control costs and save money.

The cost of solar and wind power has decreased in recent years and today buying power from a wind power plant or a solar power facility has become cost-competitive with buying power from the grid that is produced by a power plant that burns fossil fuels.

The cost of wind power has plunged 66% since 2009, while the cost of installing solar power has declined 70% since 2007.

All these price reductions have drawn the attention of the large U.S. companies that have realized that they can save millions by using green energy sources instead of the conventional energy from the grid.

GM stated that they are saving $5 million per year by using renewable energy worldwide, and they plan to rely only on renewable energy by the year 2050.

Such savings are important for any company, so U.S. companies like Home Depot, T-Mobile U.S., Golden Sachs, General Mills and others have decided to invest in wind power, and they have joined this way the list of more than 100 companies that have invested in renewable energy in the last three years.

Large U.S. companies have significant power needs that can be covered by buying the entire output generated by a wind farm or a solar power plant, but all these savings on energy bills can be achieved due to the lucrative federal tax credits.

These federal tax credits are up for renewal in 2020, but president Donald Trump is very interested to get rid of them in order to push more money into the revival of the U.S. coal sector.

Luckily, any attempt by president Trump to remove the financial support for renewable energy will likely face tough fight from lawmakers and many people in his own party from wind and solar states such as Oklahoma, Texas and Iowa.

Knowing that the federal tax credits will be renewed in 2020, the U.S. companies are rushing now to seal renewable energy deals while the tax credits are still in place.

Magda Savin
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Magda Savin

I write about the renewable energy sector, electric cars and climate change issues.
I love nature and good food, so I travel all over the world to see new places and meet new people.
Magda Savin
Magda Savin
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