Publication date:
March 21, 2024
Calls for Lower Federal Rates to Support Renewable Energy Sector
Significant renewable projects face financial setbacks due to high federal interest rates.
Renewables
Sen. Elizabeth Warren has called for the Federal Reserve to lower interest rates to aid the renewable energy sector, which is currently grappling with the financial strain caused by high borrowing costs. These elevated rates have adversely impacted major renewable infrastructure initiatives that rely substantially on debt financing. Warren's statement emphasizes the detrimental effect of high interest rates on the advancement and implementation of renewable energy projects, highlighting the need for policy adjustments to facilitate the clean energy transition.