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Governors' Wind Energy Coalition

December 7, 2022

Top Story

Renewables Will Overtake Coal by Early 2025, Energy Agency Says

By Elena Shao, New York Times  •    •  Posted 2022-12-07 15:01:22

Worldwide, growth in renewable power capacity is set to double by 2027, adding as much renewable power in the next five years as it did in the past two decades, the International Energy Agency said Tuesday. Renewables are poised to overtake coal as the largest source of electricity generation by early 2025, the report found, a pattern driven in large part by the global energy crisis linked to the war in Ukraine. “This is a clear example of how the current energy crisis can be a historic turning point toward a cleaner and more secure energy system,” said Fatih Birol, the I.E.A. executive director, in a news release. [ read more … ]

Wind Energy

Bids top $400M at first-ever Calif. offshore wind sale

By Heather Richards, E&E News  •    •  Posted 2022-12-07 15:02:27

The Biden administration’s first-ever offshore wind sale in the Pacific Ocean enters its second day Wednesday, after would-be developers pushed total bids over $400 million before the Interior Department closed bidding Tuesday night. The Bureau of Ocean Energy Management (BOEM), which is part of Interior, is auctioning five leases off the northern and central California coast, a total area larger than the city of Los Angeles. The leases could support roughly 4.5 gigawatts’ worth of wind farms, enough electricity to power 1.5 million homes [ read more … ]

California offshore wind auction garners $402M in bids on first day

By Elizabeth McCarthy, Utility Dive  •    •  Posted 2022-12-07 15:00:37

The Bureau of Ocean Energy Management’s first-ever auction for wind energy leases off California’s coast garnered $402.1 million in bids at the end of its first day. BOEM on Tuesday put up for auction five leases that could support up to 4.6 GW of floating turbines more than 20 miles off California’s northern and central coasts. [ read more … ]

Grid

N.C. substation attack exposes grid risks

By Miranda Willson, E&E News  •    •  Posted 2022-12-07 15:03:13

The attack on two power substations in North Carolina over the weekend is stoking concerns among grid experts that utilities are not doing enough to stave off physical threats to the electricity system. But solutions to safeguard the grid may not be easy — or affordable — to implement. [ read more … ]

Congress

Manchin Energy-Permit Plan Left Out of Defense Bill Amid Revolt

By Erik Wasson, Bloomberg  •    •  Posted 2022-12-07 15:02:48

A bid by Democratic leaders to add a plan by Senator Joe Manchin to fast-track energy projects to a must-pass defense bill failed amid a revolt by progressive Democrats and pushback from Republicans.  Manchin’s proposal, which would have sped approval of a stalled $6.6 billion natural gas pipeline by Equitrans Midstream Corp. in his home state of West Virginia, among other energy projects, failed to make it into the National Defense Authorization Act released Tuesday and slated for a US House vote later this week. 
[ read more … ]

Manchin’s last-gasp permitting effort fails

By Emma Dumain, E&E News  •    •  Posted 2022-12-07 15:03:33

Congressional Democratic leaders fell short in a last-ditch effort to honor a promise to pass Sen. Joe Manchin’s permitting overhaul proposal. The final text of the fiscal 2023 National Defense Authorization Act released Tuesday night did not include language that would have shortened timelines for National Environmental Policy Act reviews and limited citizen judicial challenges for proposed energy projects. It’s a blow for Manchin, a West Virginia Democrat and chair of the Senate Energy and Natural Resources Committee. His proposed reform efforts would have included approval for the Mountain Valley pipeline, a natural gas project in his state. [ read more … ]

How Warnock’s win changes the climate game for Senate Dems

By Adam Aton, Scott Waldman, E&E News  •    •  Posted 2022-12-07 15:03:54

Top Democrats will regain subpoena power. Committee work should get easier. And Sen. Joe Manchin will lose some leverage — even as the West Virginia Democrat gains more leeway to buck President Joe Biden. Democratic Sen. Raphael Warnock’s victory over Republican Herschel Walker in Tuesday’s Georgia Senate runoff means Democrats will have a 51-seat majority in the next Congress, ending the longest period in history with an evenly divided Senate. [ read more … ]

Markets

The global energy crisis ‘turbocharged’ renewable energy growth

By Justine Calma, Verge  •    •  Posted 2022-12-07 15:04:21

Right now, there’s “unprecedented momentum behind renewables,” the International Energy Agency says. Renewable power growth has been “turbocharged” by countries scrambling to tackle a global energy crisis spurred on by war in Ukraine, according to new analysis from the agency. Over just the next five years, as much renewable power is expected to come online globally as was added over the past two decades. Renewables will make up a whopping 90 percent of electricity capacity expansion in that five-year span, according to a new report by the International Energy Agency (IEA). By 2025, renewable energy is expected to topple coal to become the world’s biggest electricity source. [ read more … ]

EVs

Tesla’s Latest EV Will Fill Up on Subsidies

By Stephen Wilmot, Wall Street Journal  •    •  Posted 2022-12-07 15:01:40

Do people buy Teslas because they are cool or because they are efficient? The answer matters for the rollout of the electric-vehicle maker’s heavy-duty truck. The company’s latest product is a Class-8 electric big rig. It will be competing in a very different market to the one for passenger cars that Tesla is used to. Truck buyers normally choose products following rigorous “total cost of ownership” calculations that combine the vehicle price with estimates of running expenses. There isn’t much room for branding and aesthetics in the low-margin logistics business. [ read more … ]

EV Transition Threatened as Battery Prices Rise for First Time

By David R Baker, Bloomberg  •    •  Posted 2022-12-07 15:02:15

The global average price for lithium-ion battery packs climbed 7% to $151 per kilowatt-hour, according to BNEF’s annual battery price survey. Never before in the 12 years BNEF has surveyed battery prices have they recorded an annual increase, instead dropping sharply as production grew. But this year’s rising costs for lithium, nickel and the other metals batteries contain have halted that decline and will keep prices around $152/kWh in 2023, BNEF predicts. Not until 2024, when more lithium production is expected to come online, are prices forecast to drop again.  [ read more … ]

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