Tweetstorm Summary of Joe Biden’s Climate Plan
By John Tough |
Over the weekend I asked Twitter if I should cover Joe Biden’s Climate Plan by writing a blog post, tweeting a Tweetstorm, or hosting a ZOOM call. As you’d expect, Twitter followers wanted a Tweetstorm!
As you will see, I also tried to have some fun by including relevant Clark Griswold memes. 🤓👍😜
Without further ado, here it is:
OK, here goes: The @JoeBiden $2.2TN Climate Plan impact in 9 parts
— John Tough (@JohnJTough) October 19, 2020
– Wind
– Solar – Utility & Rooftop
– Weatherization
– Batteries, SMR & Research
– Electric Vehicles
– Transmission
– JOBS
– Winners
-Summary
Here we go! pic.twitter.com/7WSDYGY91k
🌬️WIND:
— John Tough (@JohnJTough) October 19, 2020
Adding 30 to 40 GW of utility scale wind over next 4 years, or about 15,000 wind turbines.
This is a 35%+ increase in installed generation capacity over next 4 years. Currently 107 GW installed, 60,000 turbines
Results in 500,000 construction jobs, ~5,000 ongoing jobs pic.twitter.com/JXxrI6F3TV
Utility Solar: 🌞 Market forces strong, PTC turbo-charges solar deployment
— John Tough (@JohnJTough) October 19, 2020
Adding 50-70 GW, a 75% increase to existing 85 GW base. 🚀 Powers ~10M homes
Rooftop solar: Projecting up to 4 GW installed/yr; up from ~2.2 GW avg. Equals ~500k homes/yr
Results in 1-2 million JOBS pic.twitter.com/Q5D8pwgdit
Weatherization:
— John Tough (@JohnJTough) October 19, 2020
Goal is 4M buildings, 2M homes via retrofit & efficiency incentives. I'm bearish on achieving these goals, esp with energy getting cheaper.
Achieving 50% is success. Jobs growth is key benefit, esp as a complementary geography to utility wind/solar
+ 1M jobs pic.twitter.com/3divA4RJLc
Batteries, Small Nuclear & Research:
— John Tough (@JohnJTough) October 19, 2020
Ambiguous language on "breakthrough tech" needed to hit 2035 targets. But:
1- Batteries are already here and deserve more sophisticated tax credits.
2- $ to grants/universities is going to feel like a tidal wave vs past 4 yrs
+250k jobs pic.twitter.com/VljoBY2COQ
Electric Vehicles: the WILDCARD
— John Tough (@JohnJTough) October 19, 2020
Tax credits + emissions standards =
>500k EV chargers, 500k EV school buses. And I suspect the US will achieve 1.5M EV sales/year by 2024
The electric infrastructure to enable EVs needs massive $$ and people:
Jobs: 500,000 – 1 million pic.twitter.com/4id1OM6ffu
Transmission: the BACKBONE
— John Tough (@JohnJTough) October 19, 2020
Utility scale wind farms in the midwest and solar in rural areas means huge T&D investment to move green power to cities. Plan also addresses climate-hardening local assets.
Oddly, no $ or numbers… but I suspect it is massive:
$250BN+ and >1M jobs pic.twitter.com/X9EXti8h64
J-O-B-S
— John Tough (@JohnJTough) October 19, 2020
About 6-7 million jobs directly from these initiatives. With major upside potential in transmission and EVs.
Great job balance across country:
CITY jobs: EV electric infrastructure, weatherization, rooftop solar
NON-CITY: utility wind & solar, transmission, research pic.twitter.com/Qltcd6huKk
TOP 3 WINNERS
— John Tough (@JohnJTough) October 19, 2020
– US residents: 6-10M JOBS
– Climate: US is >2x renewable gen over next 4 years
– Utilities: Rate-base new assets, new demand as EVs grow, monetize EV infrastructure, climate spend
– Banks / Infrastructure Firms: Massive financing and Public Private Partnership opps pic.twitter.com/LVedRIHnpx
SUMMARY
— John Tough (@JohnJTough) October 19, 2020
Incentives for wind/solar will rocket the industry: astounding job creation & impact. Decarbonization ✔️
Weatherization + EV infrastructure + rooftop solar = 👌 local jobs. Decentralization ✔️
Transmission/battery incentives are key
Climate = jobs = bipartisan
🤟 pic.twitter.com/cnzQ4XJwKR