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Bloomberg Talks
Galvanize Climate Solutions Co-Founder Tom Steyer Talks Renewable Energy & the Outlook for Energy Under President-Elect Trump
Dec 23, 2024
Tom Steyer, co-founder of Galvanize Climate Solutions and a prominent climate activist, shares insights on renewable energy's future amid Trump's presidency. He discusses the substantial economic benefits of renewable energy, highlighting its supremacy over fossil fuels. Steyer emphasizes the critical need for sustainable energy policies and the potential impacts of deregulation. Additionally, he delves into the role of nuclear energy in the transition to renewables and the challenges it faces, calling for a strategic focus on reliable energy sources.
08:24
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Quick takeaways
- The transition to renewable energy is largely driven by cost competitiveness and market dynamics, particularly as fossil fuel prices rise.
- Ensuring reliable baseload energy is crucial for meeting growing demands, highlighting challenges in integrating various energy sources sustainably.
Deep dives
The Transition to Renewable Energy
Renewable energy is becoming increasingly cost-competitive, driving the transition away from fossil fuels. With 86% of new electricity generation globally in 2023 coming from renewable sources, the shift is primarily fueled by the need for economical energy and international competitiveness. The cost of natural gas has also risen significantly, making renewables an increasingly attractive option for businesses looking to reduce operational costs. This trend signifies that despite political discourse surrounding fossil fuel usage, market dynamics fundamentally support the growth of renewable energy.
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Discover
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