Please add the Governors' Wind Energy Coalition to your address book for uninterrupted delivery
View this email in a web browser.
Governors' Wind Energy Coalition

December 6, 2022

Top Story

Global renewable capacity growth set to double over next five years, says IEA

By Nina Chestney, Reuters  •    •  Posted 2022-12-06 14:23:45

Global renewable power capacity growth is set to double over the next five years, driven by energy security concerns in the wake of Russia’s invasion of Ukraine, the International Energy Agency (IEA) said on Tuesday. In an annual report on the outlook for renewables, the IEA said capacity worldwide is expected to grow by 2,400 gigawatts (GW) – equal to the entire power capacity of China today – to 5,640 GW by 2027. The increase is 30% higher than the amount of growth forecast a year ago. High gas and power prices from a global energy crisis this year have made renewable power technologies more attractive. [ read more … ]

Wind Energy

Interior sale may shape offshore wind’s future on West Coast

By Heather Richards, E&E News  •    •  Posted 2022-12-06 14:24:05

The Biden administration is set Tuesday to auction off the first-ever floating offshore wind leases in the Pacific Ocean, setting up a bidding war off the coast of California that could shape the industry for years to come. The Bureau of Ocean Energy Management (BOEM) is selling five leases off the northern and central coast, a total area larger than the city of Los Angeles. The Golden State leases could support roughly 4.5 gigawatts’ worth of wind farms, enough electricity to power 1.5 million homes. Already the sale has nearly 50 entities pre-qualified to bid, and experts are predicting a highly competitive contest between major oil companies, international and domestic energy developers to capture a share of the emerging Pacific market. [ read more … ]

Grid

North Carolina Attack Shows US Power Grid Is ‘Extremely Vulnerable’

By Josh Saul, Bloomberg  •    •  Posted 2022-12-06 14:23:29

The attacks that left two electrical substations in North Carolina riddled with gunfire and knocked out power to 45,000 homes and businesses underscores the fragility of US grids, experts said Monday. The FBI is investigating the assault that extensively damaged the two facilities, about 10 miles (16 kilometers) apart in a largely rural area of the state east of Charlotte. Authorities realized the equipment had been hit around 7 p.m. Saturday after outages began spreading across the region, officials said.  [ read more … ]

States

California eyes penalties for oil companies’ big profits

By Adam Beam, Associated Press  •    •  Posted 2022-12-06 14:22:56

California could become the first state to fine big oil companies for making too much money, a reaction to the industry’s supersized profits following a summer of record-high gas prices in the nation’s most populous state. Gov. Gavin Newsom and his Democratic allies in the state Legislature introduced the proposal Monday as lawmakers returned to the state Capitol in Sacramento for the start of a special legislative session focused solely on the oil industry. [ read more … ]

EPA

EPA has a new climate fund. Who should control the money?

By Avery Ellfeldt, E&E News  •    •  Posted 2022-12-06 14:24:34

A $27 billion EPA fund meant to curb planet-warming emissions should be used to support climate projects in disadvantaged areas — and use an existing network of financiers to do so, say community development advocates and green groups. At issue is the Greenhouse Gas Reduction Fund, a key provision of the Inflation Reduction Act that aims to leverage federal dollars to provide communities across the country with low-cost, flexible financing for clean energy projects. [ read more … ]

Regulators propose closing PFAS loophole

By E.A. Crunden, E&E News  •    •  Posted 2022-12-06 14:25:40

EPA is seeking to require industrial facilities to report “forever chemical” releases at lower thresholds and concentrations — a big win for environmental advocates with possibly significant implications for business groups. The proposed rule setting the new PFAS reporting requirements would address what critics have panned as a “loophole” for per- and polyfluoroalkyl substances monitored through the Toxics Release Inventory. In a statement, EPA Administrator Michael Regan emphasized the action as further proof that his agency is prioritizing targeting the chemicals.
[ read more … ]

Congress

Lawmakers await revamped permitting bill

By Nick Sobczyk, Kelsey Brugger, E&E News  •    •  Posted 2022-12-06 14:24:54

Lawmakers are bracing for a revamped version of Sen. Joe Manchin’s permitting overhaul while congressional leaders continue to negotiate a deal with the West Virginia Democrat. Manchin confirmed Monday that he has been working on changes to the draft permitting reform legislation he first circulated in September. Democratic leaders are hoping to attach the new language to the fiscal 2023 National Defense Authorization Act to honor a deal they struck with Manchin in August in exchange for his vote on the Inflation Reduction Act. [ read more … ]

Progressives ready to block defense bill over permitting

By Emma Dumain, E&E News  •    •  Posted 2022-12-06 14:25:11

A top House Democrat will vote to block consideration of a must-pass defense spending bill if it includes permitting language that could undermine environmental protections. The warning shot from Rep. Raúl Grijalva (D-Ariz.), chair of the House Natural Resources Committee, comes as congressional Democratic leaders are seriously weighing inclusion of a permitting provision in the fiscal 2023 National Defense Authorization Act. [ read more … ]

Markets

Path to net-zero: Companies looking for carbon offsets find market in turmoil

By Karin Rives, S&P Global  •    •  Posted 2022-12-06 14:26:15

In early November, a group of former Shell executives and energy investment bankers proposed a novel idea: convince U.S. oil and natural gas producers to shut thousands of low-producing wells across the nation in return for high-quality and verifiable carbon credits. Such offsets are in high demand as companies worldwide scramble to meet their climate goals and new project developers rush in to capitalize on a growing industry. But their hunt for credits comes amid growing scrutiny of the voluntary and unregulated carbon market in the U.S. and beyond. [ read more … ]

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