The United States of America’s efforts to switch away from fossil fuels to renewables have run into a myriad of challenges. As the largest greenhouse gas emitter in history and the second largest emitter after China in modern times, the U.S. needs to work on reducing its massive greenhouse gas emissions and transition towards renewables such as wind and solar without placing undue stress on the environment or economy.
In addition to making massive investments in wind, solar, geothermal, hydropower, and other clean sources of energy, the U.S. will have to essentially overhaul its power grid to ensure it can handle the extra demand of energy that will result from electrification as well as the increased capacity from renewables.
However, America’s green energy transition has been anything but smooth, and the country faces an uphill task in the years to come as it seeks to achieve all its green energy goals without the help of China, a dominant player in the global green energy supply chain and the U.S.’s biggest trade rival.
With President-elect Donald Trump making it very clear that his administration intends to pull back all unspent funds that the Biden administration has dedicated to climate action, we can expect even more roadblocks holding back the green transition. Renewable energy projects typically require astronomical startup funds but the withdrawal of the U.S. government and its funds will make it harder for these projects to attract private investors.
Green energy projects have also attracted a lot of political pushback from local populations and regions that depend on fossil fuels. There is a valid fear a massive shift to renewables could damage local economies in fossil fuel regions, especially if leaders don’t plan and manage the transition properly. The transition to green energy will be one of the largest infrastructure projects humanity has ever undertaken and will require coordination of funds and skills across several sectors and government levels.
Even with proper planning and execution, improvements to the grid may contribute to some grid instability and job losses in the fuel industry, an admittedly hard pill to swallow for the individuals and communities that will be affected. For the communities and towns that are intricately tied to fossil fuels, the green transition represents a nigh-existential threat.
But despite all the challenges the U.S. will face as it transitions to renewables, it must abandon fossil fuels. Data from the U.S. Environment Protection Agency shows that fossil fuels generated 74% of America’s greenhouse gas emissions in 2020, contributing to climate change and climate change-induced natural disasters.
The blossoming of for-profit entities like Energy and Water Development Corp. (OTCQB: EAWD) that are focused on offering sustainability solutions could aid the U.S. in its efforts to make the switch at a decent pace.
NOTE TO INVESTORS: The latest news and updates relating to Energy and Water Development Corp. (OTCQB: EAWD) are available in the company’s newsroom at https://ibn.fm/EAWD
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