Trump’s new immigration restrictions are putting pressure on overseas businesses and students. Stricter rules are being implemented regarding the issuance of study visas to international students.
Additionally, measures are being taken to tax the income of international students who work in the United States following their education. Additionally, lawmakers have suggested taxing the profits of US businesses that contract with foreign countries.
The Trump administration is currently putting policies into place to safeguard American jobs and keep foreigners from filling them. Commenting on the move, Kamal Karanth, Co-founder of Xpheno stated, “The proposed hike in H1B visa fees is not a surprise, and IT services companies have been preparing for such developments. Over the last six months, many of them have either nominated or hired new GCC heads to capitalize on the GCC route for business. While higher visa costs could slow down onsite hiring, it will only accelerate the offshoring momentum. We expect MNCs to increase their reliance on GCCs and IT services firms in India, which remain a cost-effective option even after factoring in a 25% cess. In the near term, IT services companies may become more aggressive in offering GCC-specific services, and the increased supply of talent could also lead to softer pricing for GCC staffing.”
Lawmakers in the US have suggested taxing the money earned by overseas students participating in the Optional Practical Training (OPT) programme. Under the OPT programme, foreign students employed by US companies are now free from paying Social Security and Medicare taxes.
US Lawmakers Introduced Dignity Tax
The Dignity Act, which has been introduced, would require OPT students to pay FICA (Social Security and Medicare) taxes on their earnings. OPT students who are employed in the United States will be required to pay FICA taxes if the proposed Dignity Act is passed.
The current employer and employee Social Security tax rates are 6.2% and 6.2%, respectively, for a total tax rate of 12.4%. The current employer and employee Medicare rates are 1.45% and 1.45%, respectively, for a total of 2.9%. FICA taxes are currently waived for international students employed in the United States under the OPT programme.
Foreign students will be required to pay these taxes if the Act is passed. The only tax with a wage base restriction is Social Security. The highest salary that is taxable for that year is known as the wage base limit. This base limit for 2025 earnings is $176,100. The Medicare tax has no wage base restriction. Medicare tax applies to all covered wages.
US Administration Also Proposes HIRE Act
US businesses that hire foreign workers or contract out work to foreigners will be required to pay taxes to the US government. Senator Bernie Moreno introduced the Halting International Relocation of Employment Act, or HIRE Act, with the goal of preventing outsourcing by deterring American companies from hiring workers from other countries in search of lower wages.
A 25% tax on outsourcing payments made by American taxpayers or businesses to foreigners whose labour benefits American consumers is proposed under the HIRE Act. Those payments made after December 31, 2025, will be subject to the recently proposed levy.
Any American who makes an outsourcing payment is subject to a tax under the HIRE Act, which is equal to 25% of the payment’s total amount. Any business that hires foreign workers rather than Americans will be subject to a tax under the law, and the money raised will be used to support middle-class workforce development initiatives.
Quick
Shots
•OPT students would lose exemption
from FICA taxes (Social Security & Medicare).
•Would impose 12.4% Social Security
and 2.9% Medicare taxes on OPT earnings.
•Social Security taxable wage base capped
at $176,100 (2025); Medicare applies to all wages.
•Introduced to curb outsourcing by US
firms hiring foreign workers.
With resources aplenty, the United States Of America is one of the many countries with abundant renewable energy sources. Despite the rising energy prices and demand brought about by the use of eclectic transportation, people within the USA continue to yield strong profits and benefits in terms of health and energy affordability.
While the United States is known primarily for its tech boom, it does have a strong pocket of some of the topmost renewable energy startups. What was once a niche segment of the energy sector, renewable energy is now one of the important powerhouses within the startup sector.
Thanks to the government’s enhanced emphasis on the energy sector, the US now houses some of the largest renewable energy companies in the world. Opportunities fuelled by immense potential, the USA is doing everything in its power to promote a sustainable future for the country.
As we mentioned earlier, the USA is a country rich in resources and abundant energy sources at its disposal. As of 2022, solar, geothermal, and wind comprise of USA’s three primary renewable energy sources. Other additional renewable energy sources include hydropower and wood for biomass and biofuel.
Thanks to the country’s continued efforts towards promoting a sustainable energy future, dozens of equal opportunities are now available within the renewable energy sector. The USA is now the 4th largest producer of hydroelectricity worldwide.
Meanwhile, solar power too has increased its contribution to the country’s energy production by almost 2%. Apart from wind and hydropower, the USA, in recent years, has become a pioneer in solar thermal energy production, marking an additional source of renewable energy within the country.
Since the 1800s, coal, petroleum, and natural gas were the three primary and widely used energy sources accessed the world. It wasn’t until the 1900s that hydropower and wood came into the picture. This completely turned the tide and made the US one of the major players in the renewable energy sector.
Top 10 Renewable Energy Companies in the USA
Before we dive into the different renewable energy startups in the USA, it is vital to understand the primary sources of renewable energy within the country. As of 2022, the major renewable energy sources in the USA are as follows:
Wind
Solar
Biomass
Geothermal
Hydroelectric
The US currently meets all its energy needs and requirements through domestic production. In addition to domestic production, net imports primarily comprising petroleum account for just 4% of the country’s entire energy supply.
Thanks to newly unveiled technologies such as fracking and horizontal drilling, companies can now access underground deposits which weren’t possible earlier. With the government’s assistance followed by an inspired public, renewable energy startups seem to have found a new haven in the USA.
Amidst this heaven which is rich in resources and backed by the latest technology and governmental efforts, here are the top 10 renewable energy startups prevailing in the USA.
Global Generation of Renewable Energy in Percentage as of 2020
Moxion Power
Name
Moxion Power
Founded In
2020
Headquarters
Richmond, California
Specializes In
All-Electric Mobile Power and Energy Storage Solutions
Website
www.moxionpower.com
Moxion Power – Top Renewable Energy Startup USA
Deemed the next generation of alternate power sources, Moxion Power is built on the idea that aims to support the construction industry, events, entertainment, EV fleets, government agencies, and so on. Located in California, Moxion power specializes primarily in mobile energy storage technology.
Moxion Power develops zero-emission power generators that can be used to support off-road utilities while simultaneously being used for industrial purposes. In terms of off-road support, this Californian renewable energy startup manufactures temporary battery storage units that provide the electric power required for charging.
Thanks to such temporary battery storage solutions, the company enables clients in construction, events, entertainment, and other places in an eco-friendly manner. Regarded as the pioneer of mobile energy storage systems, Moxion Power now has people never worrying about running out of power.
Moxion is the first temporary battery storage unit manufacturing startup specializing in the electrical equipment rental business. The company guarantees that its manufactured batteries will have the same dimensions, run-time, and performance as that of a traditional diesel generator with the added benefit of being clean and eco-friendly.
Crusoe Energy
Name
Crusoe Energy Systems
Founded In
2018
Headquarters
Denver, Colorado
Specializes In
Offers Oil and Gas Companies a Fast, Low-Cost, and Simple Solution to Eliminate Natural Gas Flaring
Website
www.crusoeenergy.com
Crusoe – Top Renewable Energy Startup USA
Headquartered in Denver, Colorado, Crusoe energy aims to offer a simple and renewable alternative to natural gas by providing fast and low-cost solutions to eliminate the routine flaring caused by natural gas emissions. The company uses excess natural gas emissions left from all its energy operations.
The company then uses this excess natural gas to power data centers and crypto-mining operations. Crypto mining has picked up the pace over the years. Governments and individuals alike are slowly moving towards mining cryptocurrency instead of just buying.
However, crypto mining operations require a huge amount of energy which is not always possible in the harbor. Thanks to Crusoe Energy’s initiative, miners no longer need to worry about harnessing energy for their mining operations as the company has taken it upon itself to power these operations.
In addition to crypto mining, the company also offers quick and cost-effective solutions to power numerous other computing operations, using stranded and excess energy and other renewable energy sources to make it all possible.
With methane emissions slowly rising over the years, the company’s green initiative is contributing significantly towards reducing greenhouse emissions and keeping global warming within the 1.5-degree target set under the Paris Agreement.
Directing the majority of their research and focus towards emerging methane emissions, Crusoe Energy is doing everything necessary to capture these emissions to power crypto mining rigs and other power data centers.
Solstice
Name
Solstice Power Technologies, Inc.
Founded In
2016
Headquarters
Cambridge, Massachusetts
Specializes In
Solar based Solutions
Website
solstice.us
Solstice – Top Renewable Energy Startup USA
Thanks to the industrial revolution, the world was introduced to several new technologies that completely changed the way we live. However, the industrial revolution, ever since its introduction in the 19th century, has the western world completely hooked on carbon-emitting fuels such as oil and coal.
And 2 centuries later, everything has finally caught up to us. This is where Solstice comes in with a mission to put clean and affordable energy within every American’s reach. Accordingly, the people at Solstice are working tirelessly to bridge the gap between private housing and their requirement for solar which at times remain unfulfilled for several reasons such as directional positioning, home structure, and affordability.
Solstice helps create, set up, and develop a solar infrastructure within communities such as local municipalities allowing not just one but multiple households to have direct access to solar panels on the rooftops. Not everyone can afford to put up with solar.
But with solstice’s infrastructure and continued efforts, every American can now have direct access to clean, renewable energy. Moreover, the company helps assist with policies concerning establishing new energy sources for interested communities.
Combining infrastructure with progressive technology, Solstice is helping every American household receive clean and renewable energy at maximum affordability.
Offers Reliable Solar Energy to Supplement Traditional Supply of Electricity
Website
cherrystreetenergy.com
Cherry Street Energy – Top Renewable Energy Startup USA
Based out of Atlanta, Georgia, Cherry Street Energy has completely changed Georgia’s energy market. Over the years, the world has reached a point wherein the societal, economical, and environmental advantages have witnessed a dip. This is when the world is slowly looking to incorporate solar energy wherever it can.
This is where Cherry Street Energy is developing, financing, operating, and maintaining its unique photovoltaic (PV) systems at a price that ensures maximum affordability for its customers. To make this possible, Cherry Street Energy Energyring cities, organizations, and local institutions renewable energy sources.
The company sells its energy solutions to every large-scale customer who is in need thus allowing them to gradually stabilize its energy rates and make a significant impact when it comes to reducing carbon emissions. Operating primarily out of Atlanta, Georgia, a major chunk of the company’s business is brought about by selling power to the city of Atlanta.
Owing to the company’s immense growth and potential, the company received a massive investment of $50 million in August 2021 which is aimed primarily at increasing the company’s entire workforce and further widening its project capacity.
American Wind
Name
American Wind Inc.
Founded In
2014
Headquarters
Huntsville, Alabama
Specializes In
Production of Micro Ducted Wind Turbines (MDWT) / Production of Microturbines
Website
www.americanwindinc.com
American Wind – Top Renewable Energy Startup USA
As the name suggests, American Wind is currently spearheading the turbine industry in the United States, bringing about a massive transition in the industry with their production of microturbines. Inverting the windmill approach, the company manufactures a much smaller and more convenient approach solely for the customers.
The company specializes in the production of micro ducted wind turbines (MDWT). Instead of manufacturing and having large turbines on board, American Wind offers a much more direct and convenient solution that is fit from the point of use and allows one to generate and use power at any given point.
Thanks to the company’s continued efforts and contribution towards finding and manufacturing sustainable energy sources, it was able to devise an MDWT with a 1 kW generator squeezed in just 3 inches of diameter. Although these solutions are small, they are extremely powerful and perfectly capable of creating maximum torque and speed.
Through effective use of computational fluid dynamics (CFD), American wind was able to devise a small yet highly powerful micro wind turbine that can create power through a larger range of wind speeds.
TPI Composites
Name
TPI Composites Inc.
Founded In
1968
Headquarters
Huntsville, Alabama
Specializes In
Providing Composite Wind Blades
Website
tpicomposites.com
TPI Composites – Top Renewable Energy Startup USA
Wind marksone of the primary sources of renewable energy in the USA. Catering to the need, TPI Composites has been delivering powerful wind blades since 1968. However, the company started delivering composite wind blades since 2001. Having delivered over 75,000 wind blades over 5 decades, TPI Composites is now the US’s largest wind-blade manufacturer.
In 2021, the company achieved a new high of accounting for over 32% of the country’s onshore wind blade count and breaking the $1.5 billion mark.
Following a massive drop in wind energy prices in 2009, the company decided to increase its blades from 46 to 80 meters with experts believing it to reach the 100-meter mark by 2030.
Grid-Scale Battery Energy Storage, Solar Panels, Roof Tiles, etc.
Website
www.tesla.com/energy
Tesla – Top Renewable Energy Startup USA
While Elon Musk’s dream venture is recognized widely for delivering highly efficient electric vehicles (EVs), it does have an impressive pocket of integrated renewable energy sources ranging from grid-scale battery energy storage, solar panels, roof tiles, and so on.
The company offers a solar roof comprising glass solar tiles and a fitted home battery system for energy storage.
Green Fuel Technologies Corporation – Top Renewable Energy Startup USA
Although the company is headquartered in Ontario, Canada, Green Fuel Technologies leads the “Clean Air Revolution” in the USA. Since 1975, the company has been delivering professional grade fuel-supplements that are safe, accessible, and cost-effective.
Thanks to these fuel-grade supplements, Green fuel Technologies has contributed significantly towards the improvement of vehicle performance within the USA.
Not only are the company’s products effective for mileage improvement, but their applications in vehicle fleets, cargo, transportation, industrial, and commercial operations also reached a new high towards the end of 2022.
One of the company’s significant feats came in 2004 when it became the first to use modern “enzymatic hydrolysis” technology for the production of cellulosic ethanol.
Alto Ingredients [Pacific Ethanol]
Name
Alto Ingredients [Previously Known as Pacific Ethanol]
Founded In
2003
Headquarters
Sacramento, California
Specializes In
Low-Carbon Renewable Fuels and Ethanol Plants
Website
www.altoingredients.com
Alto Ingredients – Top Renewable Energy Startup USA
Pacific Ethanol is the US’ leading producer of low-carbon renewable fuels running and operating several ethanol plants in the west and midwest. As of 2022, Pacific Ethanol has over 9 biogas refineries that are situated in proximity to ethanol consumers allowing them maximum efficiency and cost-effectiveness.
In addition to low-carbon renewable ethanol fuels, the company also specializes in producing other value-added products such as cellulosic ethanol, high-value alcohol for industrial purposes, hand sanitizers, high-protein feeds, and so on.
Thanks to the 9 different biogas subsidiaries, Pacific Ethanol markets, produces, and sells more than 605 million gallons every year.
Silicor Materials
Name
Silicor Materials Inc.
Founded In
2006
Headquarters
San Jose, California
Specializes In
Manufacturing Solar & High-Grade Aluminum Products, and Low-Cost Solar Silicon
Website
www.silicormaterials.com
Silicor Materials – Top Renewable Energy Startup USA
Previously referred to as Calisor Inc, Silicor Materials specializes in manufacturing solar and high-grade aluminum products along with low-cost solar silicon. The company has its headquarters in San Jose, California with its R&D department in Berlin, Germany.
The company’s low-cost solar silicon is designed explicitly to meet industrial requirements and serve as a cost-effective alternative to electronic grade (EG) silicon.
With the help of solar silicon, PV manufacturers can now reduce costs and strengthen their efforts to meet their customer’s performance expectations.
Not only does Silicor materials produce low-cost solar silicon, but the company’s high-strength, low-weight aluminum alloys are perfect for automotive, aerospace, and construction purposes.
Thanks to the US Government’s continued efforts towards developing a sustainable future, the country has witnessed epic growth in the rise of renewable energy startups in recent years. If this is to continue, it can significantly reduce the country’s greenhouse emissions, energy imports, and the use of fossil fuels.
With the help of new technologies, these renewable energy startups are now able to access deep underground deposits which were previously unavailable and too expensive to do so. This is everything we have to offer on our end. Let us know your views and feedback in the comments section below.
FAQs
What country ranked #1 in renewable energy?
As of 2021, China ranks in first position in renewable energy with a capacity of 1020 gigawatts as per the information shared by Statista.
Which are the big six energy companies?
The big six are the United Kingdom’s largest retail suppliers of gas and electricity dominating the market. The Big six companies are British Gas, EDF Energy, E.ON, RWE npower, ScottishPower, and SSE.
What are the top 3 renewable energy sources the US uses?
The top 3 renewable energy sources the US uses are wind, solar, and geothermal.
Which US cities are 100% renewable energy?
Some of the US cities with 100% renewable energy are Burlington, Aspen, Centralia, Chelan Cty, Georgetown, Palo Alto, etc.
