• The first 2024 presidential debate between Biden and Trump was marred by personal attacks and misleading statements, causing disappointment among viewers and concern among Democrats about Biden’s performance.
• A CBS News poll revealed 72% of registered voters believe Biden is unfit for a second term, prompting discussions within the Democratic Party about replacing him to prevent a Trump presidency.
• Investors are worried about the impact of the election on clean energy stocks, with Trump historically opposing renewable energy initiatives and Biden promoting significant investments in clean energy.

Recently, President Joe Biden and former President Donald Trump engaged in the first debate of the 2024 presidential election. While both candidates addressed important political issues, many viewers were disappointed during the debate as both candidates continuously exchanged personal attacks and misleading statements. Additionally, many Democrats were anxious as President Biden struggled while speaking during various moments throughout the debate.

After the debate, many Democrats expressed concerns over Biden’s ability to serve a second term as president. According to a poll conducted by CBS News, approximately 72% of registered voters believe that Biden is not fit to serve as president. As a result, many individuals within the Democratic Party have discussed replacing Joe Biden as president to prevent another possible Trump presidency.

With many leaders within the Democratic Party suggesting that Biden should be replaced, investors are anticipating effects on energy stocks, especially clean energy. After the debate on Thursday, clean-energy indices like the iShares Global Clean Energy ETF took a tumble as investors anticipated a possible Trump reelection.

Historically, Donald Trump has opposed government support for renewable energy projects. During his presidency, Trump rolled back over 100 environmental regulations, including the Clean Power Plan, vehicle fuel efficiency standards, and Endangered Species Act protections.

If reelected president, Donald Trump could likely undo some of the Biden administration’s climate initiatives, which could significantly impact the stock performance of renewable energy companies. These potential rollbacks could include reversing subsidies for renewable energy projects, reducing funding for clean energy research, and loosening regulations on fossil fuel industries, leading to a less favorable market environment for clean energy investments.

Conversely, a Biden administration continuation would likely mean the persistence of current policies promoting clean energy. President Biden has made climate change a central part of his agenda, with initiatives such as rejoining the Paris Agreement, setting ambitious targets for reducing greenhouse gas emissions, and supporting the renewable energy industries. His administration has also pushed for significant investments in clean energy infrastructure through legislation like the Inflation Reduction Act, which aims to boost renewable energy initiatives and reduce reliance on fossil fuels.

The outcome of the 2024 presidential election will have significant implications for the future of the clean energy sector. Investors and key stakeholders will be closely watching the political landscape as it unfolds, preparing for potential shifts in policy that could either bolster or hinder the growth of renewable energy in the United States.