Solar Stocks Fall on Reports That U.S. May Exit Paris Agreement
Solar manufacturers fell sharply on reports Wednesday that President Donald Trump is leaning toward withdrawing the U.S. from the landmark 2015 Paris climate accord.
JinkoSolar Holding Co., the biggest solar manufacturer, dropped 3.2 percent to $18.23 at 11:01 a.m. in New York, after sliding as much as 8 percent. Canadian Solar Inc., the largest North American panel producer, slid as much as 6.5 percent, while First Solar Inc., the top U.S. company, fell as much as 4.4 percent and rival SunPower Corp. was down as much as 4.2 percent.
These titans of industry just broke with Trump’s decision to exit the Paris accords
Thirty states and scores of companies said Thursday that they would press ahead with their climate policies and pursue lower greenhouse gas emissions, breaking sharply with President Trump’s decision to exit the historic Paris climate accord.
In a pointed rebuttal to Trump’s announcement in the rose garden of the White House, New York’s Governor Andrew M. Cuomo unveiled a plan to invest $1.65 billion in renewable energy and energy efficiency on Thursday, the largest ever procurement of renewable energy by an American state.
Trump’s war on the climate will send US scientists fleeing abroad
Macron has even gone on TV to make a recruiting pitch to US scientists and clean energy technologists to relocate to France, saying “you are welcome here.” This raises the very real and frightening possibility of an exodus of scientific and technical expertise from the US resulting from Trump’s exit from Paris.
Whether US scientists and engineers take up Macron’s offer or not, Trump’s misguided attempt to revive fossil fuels will undermine American innovation and technological advances—even while the rest of the world benefits from a growing clean energy economy. The White House’s open disdain for climate science will embolden other countries to make pitches similar to Macron’s. Why shouldn’t they?
Did Donald Trump Just Make the Planet Hotter?
The politics of climate change requires constantly comparing the very small and the very massive.
On the one hand, the carbon-dioxide molecule: three atoms, bound together by electromagnetism, that in sufficient quantities can reflect heat energy back to its source. On the other, the whole planet, our island in the sky, Earth: a medium-sized rock orbiting a medium-sized star, veiled in a thin layer of gas that determines when it rains, when it snows, whether it is a good home.
Between these two extremes hangs the entire phenomenon of climate change: a planetwide convulsion in the normal functioning of Earth’s ocean currents and weather patterns. An excess of carbon dioxide in that narrow atmosphere has trapped a century of extra heat—pushing global temperatures higher and higher, reducing the polar ice caps to their lowest levels ever recorded, bleaching the Great Barrier Reef and cooking cities and towns in sweltering summer heatwaves.