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Deep in the Democrats’ Climate Bill, Analysts See More Wins for Clean Energy Than Gifts for Fossil Fuel Busines
Although Senate leaders have included plenty of favors for the fossil fuel industry in the big climate package they hope to advance this week, most analysts have concluded these concessions amount to consolation prizes in a deal where clean energy is the clear winner. At least three separate analyses by think tanks and academic institutions agree that the Inflation Reduction Act of 2022 would cut U.S. greenhouse gas emissions some 40 percent by 2030—within striking distance of President Joe Biden’s pledge to cut emissions in h [ read more … ]
Reconciliation Bill
For Sinema, it’s taxes vs. climate
Sinema’s reliance on the financial sector and other donors potentially increased in January when EMILY’s List, a group that backs women who support reproductive freedoms, announced that it wouldn’t support her reelection campaign because she opposed reforming the filibuster rule to pass voting rights legislation. EMILY’s List was her largest career donor group. Goldman and three other financial firms are among the top 10 donors to Sinema in the current election cycle, according to OpenSecrets. She is up for reelection in 2024. [ read more … ]
Wind Energy
Why the Texas grid causes the High Plains to turn off its wind turbines
The region could generate enough wind energy to power at least 9 million homes. Experts say the additional energy could help provide much-needed stability to the electric grid during high energy-demand summers like this one, and even lower the power bills of Texans in other parts of the state. But a significant portion of the electricity produced in the High Plains stays there for a simple reason: It can’t be moved elsewhere. Despite the growing development of wind energy production in Texas, the state’s transmission network would need significant infrastructure upgrades to ship out the energy produced in the region.
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Berkshire Hathaway Energy plans to buy 399 MW of Montana wind from NaturEner
Berkshire Hathaway Energy, or BHE, plans to buy from NaturEner USA almost 400 MW of wind generation in Montana, according to an application filed Tuesday at the Federal Energy Regulatory Commission. The output from the three wind farms – Glacier I, Glacier II and Rim Rock – are under contract to Morgan Stanley Capital Group under power purchase agreements that expire on April 30, 2026. [ read more … ]
Solar Energy
Winners and losers in the ‘CHIPS and Science’ bill
The legislation’s $52 billion focus on semiconductor manufacturing is sure to help the build-out of domestic solar panel and electric vehicle manufacturing. Chips make up a central component of solar panels, and the energy technology was routinely cited as key technological groups affected by shortages. A domestic renaissance in semiconductor manufacturing is sure to trickle to solar deployment — a needed boost for the Biden administration’s ambitions to reach net-zero energy by 2035. [ read more … ]
Transmission
Proposed high voltage transmission line files with ICC
A Chicago-based company formally asked state regulators July 26 to move forward on building an 800-mile transmission line that would carry renewable energy generated in Kansas across Missouri and end at the Illinois-Indiana border. Invenergy LLC filed its application with the Illinois Commerce Commission (ICC) to construct and operate the Grain Belt Express Transmission Line, a 600-kilovolt (kV) high-voltage, direct current (HVDC) electric service transmission lin [ read more … ]
Hydro
Hydro makes last-ditch plea in Democrats’ climate bill
The hydropower industry is furiously lobbying lawmakers to include a tax incentive left out of a new climate package, arguing it is needed to help the existing hydro fleet avoid premature shutdowns.
The last-second push from hydropower comes as a handful of industries are desperately trying to add their priorities to the $369 billion climate and energy section of the budget reconciliation bill. [ read more … ]
EVs
Carmakers say the climate bill sets impossible targets
Automakers are chafing at the ambitious plan Democrats are advancing to bring down the cost of electric cars and accelerate the transition from gas-powered vehicles. The Senate climate package poised for a vote as early as this week includes tax credits that slash the cost of electric cars by thousands of dollars — but only for buyers who purchase from companies that locate their supply chains out of China and other nations with which the United States does not have a free-trade agreement. It is a heavy lift for an industry that has limited access to minerals and components crucial to the production of EV batteries. [ read more … ]
Markets
Gas Prices Have Fallen for 50 Straight Days, Approach $4 a Gallon
U.S. gas prices have fallen for seven straight weeks and are approaching an average price of $4 a gallon, easing the pain of record-high fuel costs amid shrinking global demand for oil. The average cost of a gallon of regular unleaded gasoline sank to $4.16 Wednesday, the 50th straight day that prices have declined, according to OPIS, an energy-data and analytics provider. That is a 17% decline from the previous high of $5.02 a gallon set back on June 14, according to OPIS. [ read more … ]
Xcel eyes CO2-free transportation in 8 states
The first major utility to establish a goal to eliminate carbon pollution from power plants is now seeking to help do the same with cars and trucks across its service areas in eight states. Minneapolis-based Xcel Energy Inc. said yesterday it wants to help power all vehicles with carbon-free energy by midcentury. The announcement was made in coordination with company proposals in Minnesota and Wisconsin to expand charging access for homes, business, fleets and public charging. [ read more … ]
Off-Topic
Former Iowa governor lobbying officials over renewable energy projects
Former Iowa Gov. Terry Branstad is meeting with local officials across the state over large-scale renewable energy projects like those planned in Coggon and Palo, KCRG reports. Those meetings, which officials told us felt like a listening session, are part of the governor’s new role as national co-chair and Iowa State chairman for The Center for Infrastructure and Economic Development.
Large employers are working together to lobby regulators over large-scale renewable energy projects, according to documents at the Iowa Utilities Board. [ read more … ]
Note: News clips provided do not necessarily reflect the views of coalition or its member governors.