Renewable energy producers in Texas may see improvements under the Biden administration. Experts believe the Democrat’s plan to promote solar and wind power generation. This plan will also impose new regulations on oil and gas.
Many experts predict this will further expand Texas’ already booming renewables sector.
Biden and his advisers indicated they would impose tighter regulations on gas flaring. They have also discussed a fracking ban on federally owned land.
According to David Spence, the Biden administration may also encourage more renewable energy output. “Wind and solar are the cheapest forms of energy on a levelized cost basis for electric generation, and that will continue to be the case,” said Spence.
Biden has already rejoined the Paris Climate Accord, although Spence believes this step is largely “symbolic.” Biden has also proposed setting the goal of eliminating carbon emissions from the nation’s electricity grid by 2035.
In January, Biden began reviewing or reinstating more than 100 environmental regulations. These regulations were rolled back by the previous administration.
“We’re going to combat climate change in a way we have not before,” Biden said following these executive orders. However, he cautioned, “They are just executive actions. They are important but we’re going to need legislation for a lot of the things we’re going to do.”