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Renewables chief says Joe Biden’s China tariffs risk slowing green transition

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By illuminem briefings

· 2 min read

illuminem summarizes for you the essential news of the day. Read the full piece on the Financial Times or enjoy below:

🗞️ Driving the news: NextEra Energy Resources' CEO, Rebecca Kujawa, cautions that President Joe Biden's tariffs on Chinese clean energy technologies could hinder the U.S.'s green transition by increasing costs for consumers and complicating clean energy targets

🔭 The context: The Biden administration has recently imposed tariffs to protect domestic industries from cheap Chinese imports, amidst rising costs and supply chain challenges
• The U.S. aims for 80% renewable energy by the end of the decade and 100% by 2035, but industry divisions on tariffs persist

🌍 Why it matters for the planet: Tariffs could slow the deployment of renewable energy, impacting the U.S.'s ability to reduce carbon emissions and combat climate change effectively

⏭️ What's next: The industry is watching the U.S. International Trade Commission's ongoing investigations, which could lead to further tariffs, adding uncertainty and potential cost increases for renewable energy projects

💬 One quote: “Any uncertainties in the development process can definitely create higher costs for customers and make it more difficult to get some of the clean energy goals that the Biden administration has over the finish line.” — Rebecca Kujawa, CEO of NextEra Energy Resources

📈 One stat: The U.S. installed 5.6GW of new solar, wind, and battery systems in the first quarter of 2024, a 28% increase from the same period last year

Click for more news covering the latest on energy transition

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