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US Renewables May Slow Under Trump

US Renewables May Slow Under TrumpUS Renewables May Slow Under Trump

The growth of solar and wind power in the United States could slow under US President-elect Donald Trump, the chief executive of German utility E.ON said, but added he expected any change to be slow. "It is possible that future growth may slow and that the focus will shift again toward coal and oil. But we have seen these shifts in Europe, too. Just think about nuclear energy," Johannes Teyssen was quoted as saying, Reuters reported. E.ON has assets of about $4.25 billion in the US, the world's second-biggest market for wind turbines after China, mostly in the form of onshore wind parks. Global renewable stocks fell following Trump's election victory, fuelling concerns about the long-term prospects of the industry in the US. Teyssen said most jobs in the renewables industry were located in states dominated by the Republicans, adding any change in legislation would happen very slowly.

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