Sunrun CEO: Transition to renewables will happen "independently" of politics
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Sunrun CEO Lynn Jurich said at an Axios virtual event on Wednesday that the transition to renewable energy from fossil fuels is "going to happen independently of any political regime," but that a potential Joe Biden presidency could help the U.S. make the transition faster.
Why it matters: The Trump administration has attempted to undermine the scientific consensus of climate change and promote fossil fuels. But Jurich says that technology and cost drivers have still created momentum toward a renewable transition.
What they're saying: "The technology exists to make this transition and the cost drivers are just so overwhelmingly in favor of renewables and storage becoming cheaper than fossil fuels. You're just already seeing that happen," Jurich said.
- "The faster that we go, the more cost effective it's going to be, the less damage we're going to create," she continued.
- "The next biggest global challenge, really ... is how do you decarbonize this energy industry globally? So, I view this very much as an opportunity and something where the U.S. should really be just moving faster on this. And that's why I look to the Biden program to help us."
What to watch: Biden admitted in the last presidential debate that he hopes to transition from the oil industry, saying it "pollutes significantly" and "has to be replaced by renewable energy over time."
- Biden released his climate platform in June, which focuses on achieving net-zero greenhouse gases by 2050.
- Since 80% of energy-related emissions came from fossil fuels last year, the industry will have to eventually disappear to achieve that goal, Biden argues.
