Energy Update: Week of August 7th

Friends,

Well, I made it!!! The Pelotonia 2023 100-miler is in the books for the ride. It was a great/inspiring ride, but a lot harder than last year because 1) I didn't have my domestique Adam Maisano, 2) an unusual/tough north/east wind (the route from Columbus to Kenyon is all N/E) and 3) MORE HILLS (4,000 ft elevation in Ohio!). While the ride may be done, I still need your help if you haven't jumped in already. Thanks so much for all of you who have already contributed… you, and the survivors/families lining the road were my inspiration for fighting through. And believe me: after a set of nasty hills at the 42-mile mark, I was questioning myself with more than half-way still to go!

Please help this great cause: 100% of all donations go directly to groundbreaking cancer research. Any donation is greatly appreciated. Click here to DONATE.

The White House will have President Biden busy this week, where he is expected celebrate the one-year anniversary of the IRA, first in Arizona by designating a new national monument to permanently protect land outside Grand Canyon National Park from uranium mining and then, in New Mexico to highlight clean energy manufacturing. Secretary Granholm is also on the road this week with a battery plant opening in Lancaster, Ohio today and a cathode supply facility in St. Louis tomorrow. 

The comment deadline for EPA’s Power plant rule is tomorrow, August 8^th. Yes, be prepared for everyone to weigh despite efforts by enviro groups to advance how great these EPA rules are. To that end, shockingly, new polling from Evergreen and Data for Progress suggests a majority of all likely voters support EPA proposed pollution standards and also want utility companies to prioritize renewable energy like wind and solar over fossil fuels. Of course, it is a dumb poll question and obviously it gets the response they want. Finally, we have seen courts reject tougher rules and weaker rules, and air experts tell me, this could suffer a similar fate. Perhaps, we ought to try and find an approach Congress CAN support instead of pounding our heads continuously against the regulations wall.

Two other good events this week. Today at 1:00 p.m., Washington Post Live hosts Constellation CEO Joe Dominguez on the challenges of carbon-free energy and Wednesday afternoon, EFI Foundation hosts a forum on clean energy jobs where former Energy Secretary Moniz will have a foreside chat with Sen. Tina Smith.

Finally, three good reports today from EPRI/others on EV Data collection, ACP on new clean energy investment and the Great Plains Institute on the health benefits of deploying CCS technologies.  Check more on them all below In The News.

                                                                                                           

FRANKLY SPOKEN

 “It’s just adding more stuff — one more requirement here, do one more look there, go a little bit further here — until cumulatively, the things that were included from the Fiscal Responsibility Act are being offset by more subjective requirements that are going to delay projects.”

Chad Whiteman, vice president for environment and regulatory affairs at the Chamber of Commerce’s Global Energy Institute, commenting to The Hill on the recent NEPA rule released last week.

 

ON THE PODCAST

Capitol Crude: OPEC Keeping Production Cuts Going – In this week’s episode of Capitol Crude, host Jasmin Melvin interviews Tim Evans, founder of the new consultancy Evans on Energy to discuss OPEC’s production policy, the group’s objectives and what that means for oil prices. He hit on the economics as well as the politics behind some of the OPEC+ alliance’s decisions, possible tensions brewing within the alliance and whether the US can combat their desire for a tighter physical market and subsequent higher prices.

 

FUN OPINIONS

Bordoff: Industry Must Step Up Now – In In a new op-ed for the New York Times, Columbia Center on Global Energy Policy and former National Security Council official Jason Bordoff discusses record breaking heat waves around the globe and whether fossil fuel companies will continue to bet on a slower energy transition. “A successful transition will be easier to achieve if the big energy companies play a larger part in it. Low-carbon technologies such as carbon capture and hydrogen are well suited to the oil industry’s skills and capital budgets. Industry leaders face a stark choice: Either match their rhetoric with actions demonstrating convincingly that they are prepared to invest at scale in clean energy.”

 

FROG BLOG

NRDC: Industry Always Over Estimates Impacts of Rules – In an opinion in Utility Dive, NRDC’s Sophia Ahmed write industry is crying wolf yet again over EPA’s power plant carbon rules but, in fact, the costs are typically much, much less than the agency anticipated. “For years, EPA standards have cleaned up other pollutants that cause soot and smog. Now it’s time it regulates climate pollution as well.” Not necessarily this case with this rule on carbon versus other pollution issues directly addressed in the Clean Air Act, but we’ll see how it plays out with the SCOTUS’s recent WV v. EPA ruling.

 

FUN FACTS

Health Benefits for Installing CCUS – A new study (more below) from the Great Plains Institute says total annual health benefits for each region after installing carbon capture equipment with pre-treatment at the representative facilities.

 

Above are the representative facilities for evaluating co-benefits of carbon capture systems in GPI study, which examined benefits at 54 representative facilities, which were selected from a subset of facilities that met several criteria. This included those eligible for the federal 45Q carbon capture tax credit, which have reported emissions of PM that includes particles smaller than 2.5 microns (PM2.5), NOx, and SO2, and that are not already using carbon capture technologies.

 

IN THE NEWS

EPRI, Others Form Consortium to Gather EV Data – Industry and U.S. government goals continue to drive the volume of electric vehicles (EVs) on the nation's roads – from cars to heavy-duty trucks. EPRI is leading a new, three-year initiative (EVs2Scale2030™) – that will collaborate with more than 500 stakeholders including Amazon, the U.S. Department of Energy, and leading electric companies to ready the electric grid in support of the accelerated development of EV charging infrastructure. EVs2Scale2030™ includes electric companies, fleet operators, auto and truck manufacturers, and charging providers, in coordination with federal agencies and national labs, the Edison Electric Institute, the American Public Power Association, the National Rural Electric Cooperative Association, and the Alliance for Transportation Electrification. Amazon is the first logistics provider to join the initiative. Founding electric company members include: Austin Energy, CenterPoint Energy, Con Edison, FirstEnergy, Great River Energy, National Grid, New York Power Authority, Omaha Public Power District, Pacific Gas & Electric, Portland General Electric, Sacramento Municipal Utility District, Salt River Project, Seattle City Light, Southern California Edison, Southern Company, and Xcel Energy. Additional data collaborators include Daimler Truck North America, PACCAR, Volvo Group North America, and World Resources Institute.

ACP Report Highlights New Investment from IRA – Today, the American Clean Power Association (ACP) released data showing that unprecedented federal support has led to the announcement of private investments totaling $271 billion in domestic clean energy projects and manufacturing facilities over the past 12 months. This exceeds the combined clean energy investments made over the previous eight years. The latest Clean Energy Investing in America report details the extent of the clean energy renaissance spreading across the country since federal clean energy incentives were signed into law last August. Once completed, these investments and projects will strengthen our energy independence, improve air quality, and support one million American clean energy jobs. Highlights from the report include public announcements from the past year of:

• 184,850 megawatts (MW) of new utility-scale clean energy capacity
• $4.5 billion in consumer savings
• 29,780 new manufacturing jobs 
• Over $22 billion in manufacturing investment
• 83 new or expanded utility-scale clean energy manufacturing facilities – equivalent to a manufacturing facility being announced every four days.

Manufacturing facilities for utility-scale clean energy components have been announced in districts across the country, and multiple states have announced five or more facilities, including Georgia (7), Tennessee (6), South Carolina (6), Texas (5), and Colorado (5).

Great Plains Report: Significant Health Benefits If CCS is Installed – The Great Plains Institute and Carbon Solutions have a new report that shows installing technologies designed to capture carbon dioxide emissions from industrial and power facilities has the potential to result in billions of annual health benefits nationwide. These health benefits are directly tied to the reduction of other air pollutants that would also be removed in a carbon capture system, according to a first-of-its-kind study – Carbon Capture Co-benefits: Carbon Capture’s Role in Removing Pollutants and Reducing Health Impacts. The analysis found that reducing nitrogen oxides (NOx), sulfur dioxide (SO2), and particulate matter (PM) as part of an amine-based carbon capture system led to positive health benefits across all sectors and regions. The study is the first to quantify the dollar value of the health benefits from reducing harmful co-pollutants by installing carbon capture technologies at representative facilities for seven industrial and power sectors across 10 regions in the United States.

BNEF: IRA Won’t Get to Net Zero – A new BloombergNEF report says the IRA won't bring the US to net-zero emissions, but it could cut them in half from 5.3 gigatons in 2022 to 2.3 gigatons by 2050. Carrots like tax credits will only take the nation so far, and sticks in the form of policies like carbon pricing or limits on combustion vehicle sales will be required, asserts the team. The report also found that the IRA won't drive the same emissions reductions across every industry, with hard-to-abate sectors like steel remaining a greater challenge.

 

ON THE SCHEDULE THIS WEEK

WaPo Hosts Constellation CEO on Energy – Today at 1:00 p.m., Constellation Energy Corporation CEO Joe Dominguez joins The Post’s David Lynch to discuss developing sources of clean energy and the latest advances in technology.

DOE Looks at Heat Pumps – The Department of Energy holds a forum tomorrow at 11:00 a.m. to talk about the most important things about heat pumps. Heat pumps can be used as a decarbonization strategy in many building sizes and types. The forum will offer insights from multiple building stakeholders on the top five things building owners need to know about heat pumps to leverage them as an effective decarbonization solution.

Forum Looks at New Nevada Solar Rules – The Solar Energy Industry Assn is holding a forum tomorrow at 2:00 p.m. on Nevada’s new solar rules for 2024. Nevada passed big changes for residential contractors, from who can sell systems to how contracts must look like. The penalties can be tough, and this forum will discuss what people need to know for 2024 and how to navigate the complex landscape.

Moniz, Sen. Smith to Discuss Clean Energy – On Wednesday at 3:00 p.m., the EFI Foundation CEO Ernest Moniz hosts a fireside chat with Sen. Tina Smith on the provisions in three critical pieces of legislation—the Infrastructure Investment and Jobs Act, the Inflation Reduction Act, and CHIPS and Science Act—designed to provide Americans with family-supporting jobs and the free and fair choice to join a union as we move toward a decarbonized future. Their conversation will be followed by an overview of a new EFI Foundation report, Job Quality—The Keystone of Clean Energy Industrial Policy, with coauthors David Foster and Hannah Sachs. The webinar will conclude with a panel discussion between clean energy business leaders and union representatives on how and why they are collaborating using the tools contained in the recent legislation and analyzed in the report. Panelists include LIUNA’s Kevin Reilly, Steelworkers rep Jim Strong, EDF Renewables Adam Sokolski and US Wind’s Tim Mack.

Forum to Look at Decarbonization – GreenBiz and the Electrification Coalition hold a webinar on Thursday at Noon looking at ways to drive decarbonization. The decarbonization of transportation is accelerating, driven by economics, regulatory demands and climate goals.

 

IN THE FUTURE

ACORE Forum Looks ta IRA One Year – ACORE holds a forum next Monday at 2:00 p.m. featuring clean energy leaders reflecting on the IRA’s impact and remaining challenges. As the one-year anniversary of the enactment of the Inflation Reduction Act (IRA) approaches, speakers will discuss the clean energy progress that’s been made in America over the last year and the challenges that remain to realize the bill’s full potential.

Forum to Discuss ACP Report Set – Next Tuesday August 15^th at 1:00 p.m., the American Clean Power Assn holds a forum on the latest clean power market outlook with CEO Jason Grumet and VP of Research & Analytics John Hensley.  The event will address data from ACP’s new Clean Energy Investing in America and Clean Power Quarterly Market Report | Q2 2023.

Forum Looks at Global Shipping Challenges – The Peterson Institute for International Economics holds a forum on Wednesday August 16^th at 9:00 a.m. on global shipping and the challenges of climate, COVID recovery and China. New legislation to reduce emissions in global shipping is on its way, and recently the International Maritime Organization committed to the ambitious goal of zero net emissions for the sector by 2050.

ASE Tackle Demand Side Benefits – On Thursday August 17^th at 1:00 p.m., the Alliance to Save Energy holds a forum on demand side solutions, looking at advanced technologies for a more flexible grid. Speakers will explore how smart technologies and communications that combine energy efficiency and demand flexibility to help make buildings smarter about the amount and timing of energy use and contribute to a cleaner and more reliable grid.

Kerry Expected to Address Yale Conference – The 2023 Annual Conference of Global Research Alliance for Sustainable Finance and Investment (GRASFI), the leading international research conference on sustainable finance, will be held on August 23-25^th at Yale in New Haven (CT). With the climate emergency in plain sight, the importance of sustainable finance and investment is unmistakable. Climate Advisor John Kerry is expected to offer closing address to the conference.  Net-zero finance will be at the core of the conference, and our opening plenary will confront the views of Ilana Seid, Ambassador of Palau to the United Nations, Jane Ambachtsheer, Global Head of Sustainability at BNP Paribas Asset Management, and Brad Lander, Comptroller of New York City. The conference will also feature a debate on the "anti-ESG" movement with Mindy Lubber, CEO and President of Ceres, and Saker Nusseibeh, CEO of Federated Hermes International. The last plenary will provide much needed market insights on the investors' key research needs with Elizabeth Seeger, Member of the International Sustainability Standards Board (ISSB).

Climate Week NYC – Climate Week NYC starts on Sunday September 17 with the Opening Ceremony. On Monday and Tuesday, September 18-19, Climate Group hosts The Hub Live, Climate Week NYC’s interactive program for innovative solutions, technologies and ideas that drive forward climate action now.

Critical Mineral Forum Set – The Colorado School of Mines and the Payne Institute for Public Policy are hosting their annual Critical Minerals Symposium on September 21 and 22^nd in Golden, CO to convene world-class experts from government, business, investment and academics to engage in thoughtful discussion regarding the opportunities and challenges that lie ahead for the production and use of critical minerals, both internationally and domestically. The transition to a low carbon future will require an enormous amount of metals and minerals. Many of the key technologies, from renewable energy to electric vehicles, are witnessing dramatic growth. Critical minerals will become the backbone of the modern economy. However, the increase in demand for critical minerals will have profound impacts on the dynamics of trade, markets, and create new geopolitical challenges. Building on a long history of leadership in this area, Colorado School of Mines Critical Minerals Symposium will address these issues and more.

Clean Energy Week – National Clean Energy week will be held on September 25^th to 29^th. National Clean Energy Week is a celebration of the policies, industries, and innovations that power our daily lives while producing no or very little greenhouse gas emissions.

Natural Gas Conference Set – Hart Energy LIVE's second America’s Natural Gas conference will be held on September 27^th in Houston and will focus on gas growth potential from the Marcellus and Haynesville to gas fairways in the Permian, Eagle Ford, and Gulf of Mexico. This conference unites American gas and energy players with world-leading influential experts, policymakers, decision-makers and business leaders to share their views on the significant issues shaping the global energy agenda.