Welcome to Snapshot, our new series of shorter blog posts designed to quickly touch on items of current interest. Our first post is about the outlook for the energy sector following Joe Biden's election victory. As always, if you have any questions about the below post, or want to discuss it in greater detail, please reach out via the Contact Us page or find us on Twitter at @andrewczernikwg or LinkedIn at https://www.linkedin.com/in/andrewczernik.

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I recently read an Interesting article from Bloomberg looking at the impact on various energy sectors from a Biden win. Not surprisingly, things look better for clean energy and renewable producers under a Biden administration.

 

That being said, politics aren't the only thing driving the shift towards sustainable energy. Climate change has had a significant impact on people's lives and will continue to do so going forward. Look at California, where persistent wildfires, blackouts and other climate related problems have become more and more commonplace. Among a number of changes, this is driving the individual consumer to look at options for energy self sufficiency. It's a lot easier to have a set of solar panels installed on your roof than it is to drill an oil well in your backyard, cleaner too. The U.S. solar market grew by 23% from 2018 to 2019, and that was under a Republican administration. ( Source)

 

While a Biden presidency will certainly help the clean energy sector, my view is that we are just in the beginnings of a long-term secular shift towards cleaner energy, regardless of who's sitting in the White House. #climatechange #energy