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Governors' Wind Energy Coalition

August 24, 2022

Top Story

California to Ban the Sale of New Gasoline Cars

By Coral Davenport and Lisa Friedman, New York Times  •    •  Posted 2022-08-24 15:22:41

California is expected to put into effect on Thursday its sweeping plan to prohibit the sale of new gasoline-powered cars by 2035, a groundbreaking move that could have major effects on the effort to fight climate change and accelerate a global transition toward electric vehicles. “This is huge,” said Margo Oge, an electric vehicles expert who headed the Environmental Protection Agency’s transportation emissions program under Presidents Bill Clinton, George W. Bush and Barack Obama. “California will now be the only government in the world that mandates zero-emission vehicles. It is unique.” The rule, issued by the California Air Resources Board, will require that 100 percent of all new cars sold in the state by 2035 be free of the fossil fuel emissions chiefly responsible for warming the planet, up from 12 percent today. [ read more … ]

Transmission

Why the energy transition broke the U.S. interconnection system

By Emma Penrod, Utility Dive  •    •  Posted 2022-08-24 15:24:36

“Can we hit 100% clean energy by 2035? I get less and less optimistic every year and that’s sad,” he says. “But I will say that – this is a back of the envelope calculation – but we estimated that if all the capacity currently in queue today, wind, solar and storage, if we built that by 2030, we would hit 80% clean electricity share. And that’s factoring for load growth… The transition is right at our fingertips, but to realize it we need to reform our interconnection and transmission processes.” [ read more … ]

Inflation Reduction Act

Climate law seen driving ‘demand destruction for fossil fuels’

By Scott Waldman, E&E News  •    •  Posted 2022-08-24 15:23:34

The Inflation Reduction Act won’t just increase clean energy — it also will hasten the arrival of peak U.S. fossil fuel demand, experts say. And some maintain that peak could be reached as soon as 2025. The $370 billion in clean energy funding will rapidly scale up solar and wind to power the electric grid while ramping up the share of new vehicles that are electric. Zeke Hausfather, who leads climate research at Stripe, a financial services firm, said the effect of the new law will be “demand destruction for fossil fuels.” [ read more … ]

States

A ‘Tsunami of Shutoffs’: 20 Million US Homes Are Behind on Energy Bills

By Mark Chediak, E&E News  •    •  Posted 2022-08-24 15:22:21

Adrienne Nice woke up early on the morning of July 25 to news she’d been dreading. The power company, Xcel Energy Inc., had shut off the electricity to the small Minneapolis apartment she shares with her teenage son, just as a heat wave was bearing down on the city. The Nice household is one of some 20 million across the country—about 1 in 6 American homes—that have fallen behind on their utility bills. It is, according to the National Energy Assistance Directors Association (Neada), the worst crisis the group has ever documented. Underpinning those numbers is a blistering surge in electricity prices, propelled by the soaring cost of natural gas. [ read more … ]

Bennet: U.S. shouldn’t dictate Colorado River water cuts

By Jennifer Yachnin, E&E News  •    •  Posted 2022-08-24 15:25:14

Colorado Sen. Michael Bennet (D) revealed today that he and Utah Sen. Mitt Romney (R) are drafting legislation to pump additional funds into the shrinking Colorado River Basin but insisted any planned cuts to water use must come from the states themselves. Bennet’s comments come in the wake of the federal Bureau of Reclamation’s decision last week to trigger the most severe shortage declaration to date in the basin, affecting the seven states that share the 1,450-mile-long river [ read more … ]

Markets

Looming Regulation Hasn’t Slowed a Boom in ESG Labels

By Tim Quinson, Bloomberg  •    •  Posted 2022-08-24 15:23:07

While BlackRock Inc., the world’s largest asset manager, said it supports the overall push to clarify asset managers’ strategies, the firm added that the SEC’s proposal to require new disclosures for funds that just consider ESG criteria among many other factors may further confuse the situation. It could end up overstating the significance of ESG considerations for some funds, BlackRock said. And therein lies one of the main dilemmas for regulators and money managers. The rules are a muddle and being interpreted differently by too many people — leading to misleading marketing and claims of greenwashing. [ read more … ]

EVs

Toyota recognizes California authority to set vehicle emissions standards

By David Shepardson, Reuters  •    •  Posted 2022-08-24 15:23:50

Toyota Motor Corp on Tuesday said it recognized the state of California’s authority to set vehicle emissions standards under the U.S. Clean Air Act. Toyota said the move will make it eligible for government fleet purchases by California. California Air Resources Board (CARB) chair Liane Randolph said the board was pleased with Toyota’s decision. “Although we’ve had differences in the past, we look forward to advancing #ZEVs together on positive footing,” Randolph wrote on Twitter, referring to zero emission vehicles. [ read more … ]

Note: News clips provided do not necessarily reflect the views of coalition or its member governors.