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New Jersey aims to lead nation in offshore wind. So it’s building the biggest turbine port in the country.
On Tuesday, Gov. Phil Murphy (D) is set to announce the construction of what he calls the country’s first port dedicated to constructing the colossal turbines that may one day dot the East Coast horizon as Northeastern and Mid-Atlantic states rush to build more renewable energy. For New Jersey, it is about more than just tackling climate change. Just as Texas is the de facto capital of the U.S. oil and gas industry, New Jersey wants to be an economic engine for offshore wind. “We have a huge opportunity,” said Tim Sullivan, chief executive of the New Jersey Economic Development Authority. “Somebody’s going to get to be the Houston of American offshore wind.” [ read more … ]
Wind Energy
On the wind
New Jersey Gov. Phil Murphy announced plans Tuesday to develop the first purpose-built wind port to stage, assemble and manufacture offshore wind project-related activities on the East Coast. Construction for the $300 million to $400 million state-run facility is planned in two phases, slated to begin in 2021. The New Jersey Economic Development Authority is considering “a range of public, private, and public-private partnership financing options” for the hub, which is expected to generate $500 million of new economic activity each year, the governor’s office said. [ read more … ]
Grid
Macro Grid Initiative Launches to Expand and Upgrade America’s Transmission Network
The American Council on Renewable Energy (ACORE) and Americans for a Clean Energy Grid (ACEG) today launched the Macro Grid Initiative to build support for expanding and upgrading the nation’s transmission network. A 21stcentury Macro Grid will deliver jobs and economic development, a cleaner environment, and lower costs for consumers.“We need to improve America’s outdated and balkanized electricity transmission system both to compete effectively in the 21st century economy and to properly tackle the climate crisis,” said ACORE President and CEO Gregory Wetstone. “A Macro Grid will allow for better integration of low-cost renewable energy, resulting in a more resilient, efficient grid and a dramatic reduction in carbon emissions.” [ read more … ]
New effort to overhaul transmission
Clean energy groups armed with funding from billionaire Bill Gates launched an initiative Wednesday to expand and upgrade the nation’s “antiquated” transmission lines needed to deliver wind and solar power, a key weakness in the U.S. that limits efforts to reduce emissions from electricity. The American Council on Renewable Energy and Americans for a Clean Energy Grid, with backing from Gates’ Breakthrough Energy, plan to use its “Macro Grid” project as a mechanism to raise awareness and generate support for building transmission, which is plagued by opposition at the local, not federal, level. [ read more … ]
Emissions
Emissions Are Surging Back as Countries and States Reopen
After a drastic decline this spring, global greenhouse gas emissions are now rebounding sharply, scientists reported, as countries relax their coronavirus lockdowns and traffic surges back onto roads. It’s a stark reminder that even as the pandemic rages, the world is still far from getting global warming under control. In early April, daily fossil fuel emissions worldwide were roughly 17 percent lower than they were in 2019, as governments ordered people to stay home, employees stopped driving to work, factories idled and airlines grounded their flights, according to a study published in May in Nature Climate Change. [ read more … ]
Green Stimulus
Who Will Profit the Most From a Green Recovery?
Green-eyed investors are starting to reposition for the post-pandemic future. Just this week, Denmark’s Copenhagen Infrastructure Partners raised $1.7 billion for a bet on renewables infrastructure, while venture capital firms Prime Coalition and Pale Blue Dot each raised more than $50 million for early-stage climate tech. It’s a sign that the attraction of green investment may be holding up during the early stages of the coronavirus recession. Climate conscious-investors are aware that decisions being made right now could shape global economies for years to come. But Covid-19 also has highlighted structural inequality, and the question of who benefits from whatever recovery comes (assuming there is one) after the pandemic recedes. [ read more … ]
Note: News clips provided do not necessarily reflect the views of coalition or its member governors.