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Gas Prices, a Big Inflation Factor, Are Coming Down Sharply
Gasoline prices, on an upward tear for months, have reversed course in recent weeks, giving consumers a welcome break. Gasoline was a major reason that U.S. consumer prices were 9.1 percent higher in June than a year earlier, the biggest annual increase in four decades. But now gas prices have declined 28 days in a row, the longest decline since the collapse in energy demand in early 2020 as the Covid-19 pandemic paralyzed the economy. Energy analysts say American consumers are spending $140 million less on gasoline daily than they were a month ago. [ read more … ]
Solar Energy
Green Tech Boom Threatened as Solar Prices Surge to Decade High
The price of a key material for solar panels rose for the seventh straight week, threatening to slow clean energy installations critical to the world’s efforts to achieve climate targets. Prices of polysilicon, the ultra-conductive metal used to make solar panels, have surged to the highest level since 2011. The increases are rippling through the solar supply chain, with panel prices beginning to rise this week after holding steady for two months, Solarbe analysts said in a research note. [ read more … ]
BLM OKs construction of massive Calif. solar project
The Bureau of Land Management has authorized construction to begin on the third of three large-scale solar power projects inside a California renewable energy zone. The 500-megawatt Oberon solar project would cover about 2,600 acres inside the 22.5-million-acre Desert Renewable Energy Conservation Plan area and have the capacity to power about 146,000 homes. The project includes a battery storage system of up to 200 MW. [ read more … ]
Transmission
What an $8B Western grid project means for U.S. clean energy
A planned 2,000-mile network of electric lines known as the Energy Gateway is more than a project to transport massive amounts of wind and solar energy among Western states that face potential supply shortfalls. It’s also a key piece of the Department of Energy’s clean electricity strategy.
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Congress
Inflation report makes Manchin ‘very cautious’ on climate bill
West Virginia Democratic Sen. Joe Manchin sounded a note of caution yesterday on reconciliation talks after another round of high inflation numbers, raising the prospect of a narrow package that only includes drug pricing provisions. “It depends on if we can look at things and find a pathway forward that’s not [inflationary],” Manchin told reporters. “We know what we can pass. It’s basically the drug pricing on Medicare.” [ read more … ]
More Than 200 Congressional Staffers Demand Action on Clean Energy Deal
More than 200 congressional staffers sent a letter to democratic leaders in the Senate and House of Representatives on Tuesday, pressuring them to expedite a deal that would prioritize action on climate and clean energy. [ read more … ]
Biden admin pushes slimmed-down innovation bill
Commerce Secretary Gina Raimondo urged a bipartisan Senate briefing yesterday to finish work on a stalled innovation and economic competitiveness package before the August recess. So much so, the Biden administration’s point person on the negotiations said, that the administration is willing to back a slimmer version of the package to ensure that $52 billion to help semiconductor manufacturing passes before chip companies start looking elsewhere for incentives.
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States
Texas narrowly avoids rolling blackouts after 2nd conservation plea by ERCOT this week
The grid operator for most of Texas asked customers on Wednesday to reduce electricity consumption for the second time in a week, citing lower wind and fossil fuel generation than anticipated, and spiking demand amid a sweltering heat wave. Ultimately, the Electric Reliability Council of Texas said it was able to maintain grid reliability and did not ask utilities to curtail demand, though there were conflicting reports in the media and some customers did lose power. [ read more … ]
How Gov. Whitmer built a climate legacy in divided Michigan
Democratic Michigan Gov. Gretchen Whitmer is running for reelection against a Republican field that saw one frontrunner kicked off the ballot and another candidate arrested in connection with the Jan. 6 Capitol insurrection. For a swing-state governor in a harsh political climate, it’s an enviable position. Polling this summer suggested Whitmer began the campaign with an advantage over her potential opponents, though the field won’t be set until the Aug. 2 primary. [ read more … ]
Markets
Renewable Energy Provides Relief From Rising Power Prices
The summer of 2022 has not been a stable season for global energy. Fossil fuel supplies are short, demand is skyrocketing thanks to heat waves, and the worst may be yet to come, the International Energy Agency said this week. Some events may be localized, but global supply and demand brings challenges –potentially crises – to the entire world. Renewable power is not exempt from global trends that are pressuring prices upwards. Thanks to inflation and supply-chain challenges, the cost of building new onshore wind farms has risen 7% in the past year. Solar costs have risen twice as much; battery storage costs have risen more than 8%.
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EVs
U.S. Electric Car Sales Climb Sharply Despite Shortages
Americans are buying electric vehicles at a record pace, undeterred by rising prices and long waits for delivery, a further indication that the twilight of the internal combustion engine is on the horizon. Vehicles that run on batteries accounted for 5.6 percent of new-car sales from April through June, still a small slice of the market but twice the share a year ago, according to Cox Automotive, an industry consulting firm. Overall, new-car sales declined 20 percent. [ read more … ]
Panasonic picks Kansas for $4B EV battery factory
Japan’s Panasonic Energy Co. Ltd., a battery supplier for Tesla Inc., plans to build a $4 billion EV battery plant in Kansas — a project that represents the largest economic development project in the state’s history and is expected to result in 4,000 direct jobs. Gov. Laura Kelly (D) made the announcement yesterday at a joint news conference with Panasonic executives and other state officials.
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Note: News clips provided do not necessarily reflect the views of coalition or its member governors.