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Europe & China ‘leading’ on renewables, U.S. must catch up
CGTN Europe
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21/01/2025
Donald Trump has pulled the U.S. out of the Paris Agreement but leading renewables CEO Marco Alvera says the new President’s view could change when he sees that he can ‘export the U.S. Sun.’ Alveraa was speaking to CGTN in Davos.
#wef25 #worldeconomicforum #unhcr
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00:00
I think Europe started by leading this.
00:03
20 years ago, Europe put 1,000 billion euros of subsidies
00:07
and the price of solar went from $1,000 a megawatt hour
00:10
all the way down to $10 a megawatt hour.
00:12
In that same period of time, the price of oil went from 20 to 50.
00:15
So where it's very sunny, solar is just much cheaper.
00:19
That is why Saudi Arabia is one of the biggest investors in the world of solar
00:23
because the more solar they produce, the more oil they save, the more oil they can export.
00:27
That's why Texas is one of the biggest states for wind
00:30
because it's cheaper than fossil energy.
00:32
That's why China is investing a lot in renewables
00:34
because it reduces dependency, it reduces domestic.
00:37
So for even the Trump administration, when they see that they can export the U.S. sun,
00:42
which is what we're essentially doing, and the U.S. wind,
00:44
that helps a balance of payments, that helps trade,
00:46
and that helps free up gas that can also be sold and exported.
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