Category : Solar
I think the only thing we will all be able to agree upon is that a Trump presidency will be an interesting time in the development of our country. But what does it mean for our beloved solar industry? Are we going to take huge steps back as an industry that employs over 200,000? Can our industry actually boom during a Trump Presidency? Let us take a more in-depth look at this and see.
The initial knee-jerk reaction to the Trump election was gloomy at best. Probably closer to a doomsday reaction. He is on record saying that climate change is a hoax cooked up by the Chinese. On the campaign trail, he vowed to remove the US from the Paris climate agreement as well as dismantle the EPA (Environmental Protection Agency). At first glance, that doomsday reaction might not be that far off base.
However, upon further review, I believe there are more positives for the solar industry than I initially thought. Let’s keep in mind I did not say the environment as I am not as encouraged for our environments outlook as I am for the solar industry. Although just this week president-elect, Mr. Trump did say he has an open mind on the Paris deal and that there is “Some Connectivity” between humans and our environment. So even for our environment there might be a light at the end of the tunnel.
I actually believe that many of the business proposals that president-elect Mr. Trump is proposing will actually help stimulate the small and mid-market solar companies. He is proposing a much lower corporate tax rate. This by itself can help stimulate growth in a few ways. You will have more capital on hand to purchase more equipment at a lower price point. Which can increase your profit margin or increase your closing rate if you pass that onto the consumer. It will also afford you a larger budget to invest in your sales and marketing channels, when done correctly can have huge benefits to your bottom line.
The prudent advice would be to take a let’s wait and see approach, which I can’t fault. But I believe the future is bright for solar and maybe even brighter that what a Clinton Presidency would have meant.