During Obama's campaign, renewable energy was made a focus of his energy policy. (Click here to access). Goals include: generating 25% of electricity from renewable sources by 2025; setting cap-and trade programs to reduce the nation's GHG emissions 80% by 2050; investing $150bn over the next ten years in clean technology; and putting 1 million plug-in hybrid cars on the road by 2015.
Recent comments on Obama's policies have included:
The Washington Post on 9 November reporting that the Obama transition is already "positioned to quickly reverse Bush actions" that have blocked the Environmental Protection Agency from reaching an "endangerment" finding that would trigger regulation of greenhouse gases under the Clean Air Act, and from granting California the necessary waiver to allow state regulation of carbon dioxide emissions from automobiles.
Gregory Wetstone of the American Wind Energy Association telling the New York Times that he was eager to work with a president whose policies "for the first time will reflect a national commitment to renewable energy" like wind and solar power.
Seth Kaplan of the Conservation Law Foundation telling the New York Times that in addition to renewables development, he hoped Obama would implement a "tremendous ramp-up in energy efficiency," as well as national regulation of greenhouse gases.
Kate Hampton, head of policy at Climate Change Capital, a UK-based investment manager, saying "we cannot overstate how divisive the Bush administration was, how far behind the US now is in the transition to the low-carbon economy and how high expectations are now that Obama is the president-elect."
Not only have commentators responded very positively to the election of Obama, clean technology and green energy stocks have soared as City analysts predict a major boost from the incoming president. The Guardian reported on the 6 November that Solar Integrated Technologies rose by 30% on 5 November after increases of 22% by Renewable Energy Corporation and 16% by the wind turbine maker Vestas in the 24 hours before.