With President Obama’s victory, the green energy industry catches a big break

Last night's decisive Electoral College victory by President Barack Obama has ushered in many things, including the fact that the president's health care reform bill will now be fully implemented. While the various Democratic constituencies are pleased with the victory, there is one group that is probably much happier than most. This is the green energy and technology community, who, with Obama's win, will see a continuation of the U.S. government's comprehensive clean energy investments.

In a recent blog piece from the Natural Resources Defense Council (NRDC), author Frances Beinecke lauded the successful election as a make-or-break moment for the green movement. Because of Obama's win, grants will continue to be awarded to U.S.-based electricity providers of energy efficient technology, fuel economy standards will be put in place and funding for education related to renewables will continue to be put forward.

However, the fact that the U.S. House of Representatives remains in the hands of the green movement-averse Republican party could cloud the president's chances of passing carbon reduction or cap-and-trade legislation. Yet, by holding the U.S. Senate, the Democratic Party stands a chance of following through on previous promises to act on climate change.

Here at LifeIsGreen.com, we celebrate President Obama's victory as a success for both his administration and the clean energy movement. Admittedly, it's tough to predict what developments will shape the green technology debate as the president's second term begins. However, there is little doubt that both local, state and national-level governments will begin to embrace the idea of renewable power over the course of the next four years.

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