It also marshaled domestic resources in an unprecedented way, which laid the foundation for future vital and far-reaching initiatives such as President Eisenhower’s interstate highway system in the 1950s, Medicare and Social Security in the 1960s and the Human Genome Project in the 1990s.
Of course, even if Biden is elected, his lofty plans may not be realized in Washington’s partisan political culture. If just a fraction of his proposals come to fruition, however, we expect the renewable energy sector to see significant benefits.
The Post-Election Future Of Renewables
None of this is to say that the 2020 election doesn’t matter; of course it does. When it comes to renewable energy, however, the horse is already well out of the barn.
For decades, cost-prohibitive economics were a stubborn barrier to the greater adoption of renewable energy sources. Those economics have now largely caught up with fossil-based power generation. Coupled with the increased demand for clean energy across sectors and geographies, the future of renewable energy is bright. The only question remaining is just how bright it will be, especially over the next four years.
Robert Sher is co-founder of Greenbacker Capital, an investment firm focused on the sustainable infrastructure sector.