Title: Electric Vehicles and Heat Pumps: A Shift Even Trump Can't Escape
In a fascinating twist, former U.S. President Donald Trump's policy shifts have seen renewable energy and climate protection take a step back, with a strong focus on oil and gas. Austrian-American economist Gernot Wagner, however, sees this as a short-lived setback. Speaking on ntv's "Climate Lab," Wagner lauded Germany's strides in solar panel installation and identified key issues with the "old continent."
Wagner points out that, while Trump may halt offshore turbine installation for four years, the existing wind farms will still stand. He reiterated that the technological revolution and market forces pushing towards a green economy are unstoppable, with electric vehicles, heat pumps, and induction cookers being superior alternatives to fossil fuel vehicles.
Praising Germany's solar panel advancements, Wagner acknowledged issues on the continent, urging for necessary investments in selected industries. He viewed technology openness as a smokescreen that conceals the promotion of traditional energies, advocating for green capitalism responsible investments.
Wagner noted that even under a Trump presidency, the shift towards renewable energy remains inevitable due to persisting market forces and technological advancements. Significant federal investments, like the Inflation Reduction Act, have bolstered this transition alongside state-level policies and private sector engagement.
Regardless of political leanings, Wagner underlined the resilience of the renewable energy revolution, citing the gradual decline in solar power prices. He acknowledged challenges but reiterated the inevitability of the green transition, as popular opinion and economic realities align in favor of sustainability.
Wagner mentioned that despite Trump's plans to halt offshore wind turbine installation for four years, the existing offshore wind power farms will continue to operate. He also emphasized that the technological revolution and market forces pushing towards a green economy are too powerful to be halted, with renewable energy sources like wind power playing a significant role in this transition.
