Register today for the last seminar of the ESE Spring 2025 Seminar Series: The Janak Raj Lectures. This seminar is available online only via Zoom. 

Co-Sponsored by I-CPIE
Speaker: Jigar Shah, Former Director of the U.S. Department of Energy Loan Programs Office under the Biden Administration

REGISTER HERE

TIME: 12:00 PM - 1:30 PM Eastern Time 
LOCATION - ZOOM MEETING link to be sent prior to the seminar date
CONTACT US: inesei@lehigh.edu  

ABSTRACT: As America stands on the brink of a major political transition, an unlikely synergy is apparent between President Biden’s ambitious investments in clean energy and the "America First" economic principles championed by Donald Trump. At first glance, these policies may seem at odds—Biden’s focus on climate action versus Trump’s advocacy for a return to protectionist economic policies. But a closer look reveals that both agendas are aligned in their commitment to safeguarding American jobs, bolstering domestic manufacturing, and strengthening global competitiveness. Trump’s economic vision centers on protecting American industries and reducing reliance on foreign goods; Biden’s clean energy investments also enable this, while positioning America to compete in the 21st century.

Regardless of the set of values upon which this moment is framed, the truth is clear: as nations worldwide seek energy abundance through domestic clean energy sectors, America must ensure that more of our dominant technology innovation is commercialized and built here in the United States. Choosing not to scale and deploy our innovations here means ceding tremendous economic power to China and other nations.

The shift toward clean energy is not a passing trend; it is a defining transformation of our era. In 2023, over 90% of global net power capacity added to the grid came from renewables—solar, wind, nuclear, and batteries. The global car market, with sales projected to hit 90 million units in 2024, is expected to see nearly half its sales from electric vehicles by 2030. To meet this demand, massive investments are pouring into supply chains, and governments around the world are racing to ensure that those sectors grow strong roots domestically. In contrast, the global oil, coal, and gas sectors have struggled to increase production despite significant investments. In fact, the traditional energy sector has been the worst-performing group in the S&P 500 since 2008. And in the automotive sector, Tesla’s market cap is twenty-fold greater than General Motors, the next largest American automaker.

Biden’s decarbonization investments are not a departure from Trump’s "America First" agenda but a necessary evolution. Take the Inflation Reduction Act (IRA), which allocates hundreds of billions of dollars to clean energy innovation, infrastructure, and job creation. These are the same kinds of manufacturing jobs that Trump sought to bring back—only now they’re in 1,000 communities with new or expanded manufacturing projects across the country using next generation technology in solar, nuclear, geothermal, electric vehicles, batteries, critical minerals, and hydrogen electrolyzers. Global demand for these technologies is surging, and the IRA has positioned U.S. companies and workers to benefit.

Moreover, the energy transition offers a unique opportunity to modernize America’s energy infrastructure, reducing reliance on fossil fuels and boosting national security. Clean energy is the only solution that can meet the extraordinary growth in electricity demand required to power growing industries like artificial intelligence. Texas, for example, has seen 90% of its recent growth come from clean energy. In parallel, the United States can free up additional fossil fuel resources for export, further supporting "America First" principles by strengthening our economic and security foundations.

The alternative is bleak: if the United States lags in clean energy, American entrepreneurs will be forced to scale their technologies abroad, with China, the EU, and India poised to reap the rewards. China has already capitalized on U.S. innovations in renewables and electric vehicles, and the EU is making significant headway in attracting American hydrogen and heavy manufacturing technologies. Without new, cost-effective technologies, we will struggle to meet future energy demands. 

If America fails to continue making robust investments in clean energy, we risk falling behind and losing our competitive edge. The clean energy revolution is the only way to reduce energy costs, revitalize American manufacturing, and ensure energy security – visions shared by both President Biden and President Trump. By leveraging our leadership in technological research and development and dedicating ourselves to commercializing these innovations here on American soil, we can strengthen our nation’s global competitiveness and secure our future. 

As we enter a new political era, one thing is clear: the race to dominate the clean energy sector is on. If it doesn’t happen here, it will happen elsewhere. America must boldly lead in scaling up these industries of the future, or risk permanently losing its place at the top of the global economic order. 

BIO:  Jigar Shah is an American energy entrepreneur, investor, and strategist who was featured on the 2024 TIME100 list of the world’s most influential people. Shah most recently served as Director of the U.S. Department of Energy Loan Programs Office (LPO) for the Biden-Harris Administration. He transformed the clean energy infrastructure bank from the ground up, overseeing a tenfold increase in loan authority and deploying $108 billion in debt financing for public-private partnerships in clean energy and advanced transportation projects across the United States. Prior to his government service, Shah was co-founder and President at Generate Capital, where he helped entrepreneurs accelerate clean energy solutions through low-cost, infrastructure-as-a-service financing. Previously, Shah founded SunEdison, where he pioneered third-party power purchase agreement solar financing, which later became a standard industry revenue model. Shah also served as the founding CEO of the Carbon War Room, a global non-profit founded by Sir Richard Branson and Virgin Unite to help entrepreneurs address climate change.

Shah is the former director of the U.S. Department of Energy Loan Programs Office under the Biden Administration and a co-host of the popular podcast “Open Circuit” from Latitude Media. Originally from Illinois, Shah holds a B.S. from the University of Illinois Urbana-Champaign and an M.B.A. from the University of Maryland. He lives in Maryland with his wife and son.