Energy Update: Week of September 20
Energy Update - September 20, 2021
Friends,
The big winners at last night’s Emmys were the streaming platforms, with Netflix and AppleTV+ taking major awards in drama, comedy and limited series, highlighting the profound shift in entertainment, from traditional TV to click-and-watch binge viewing. The Crown won biggest dominating the acting categories, but Ted Lasso and the Mare of Easttown also scored significant wins.
Welcome back Congress…You have a crazy few weeks ahead! It’s not just this tricky two-step on infrastructure and the Budget Recon (which is not looking great), but now add in averting a government shutdown by October 1st and finding a way to lift the debt ceiling to the mix. I guess will see where this lands starting next Monday when an infrastructure vote was promised to hold-out moderates. Look for info on all the action in our BRACEWELL PRG RECON REPORT (also below)
There are tons of events this week because it is National Clean Energy Week and Climate NYC. The action starts TODAY at 4:00 p.m. when the Business Council for Sustainable Energy (BCSE) hosts a forum featuring interviews with Johnson Controls CEO George Oliver, Schneider Electric CEO Jean-Pascal Tricoire and Trane Technologies executive Paul Camuti. The Chamber’s Global Energy Institute has two events tomorrow on innovation and Thursday on public private partnerships. AGA’s Richard Meyer is on an innovation panel tomorrow and DTE Energy’s Gerry Anderson closes tomorrow’s NCEW session. Wednesday features Sen Lisa Murkowski, a fireside chat with PSEG CEO Ralph Izzo and panels with NHA’s Malcolm Woolf (infrastructure) and Portland Cement’s Josh Reiner (critical minerals). Axios also hosts a one-on-one with Gina McCarthy on Wednesday (don’t forget this Interview w/Gina on Madam Policy from last week).
On Wednesday morning Air Liquide's Mike Graff speaks to the NYC World Climate Forum by video and AL CEO for North America Sue Ellerbusch will be part of a Clean Energy panel discussion on policy innovations with Mass Energy Sect Kathleen Theoharides and NYSERDA’s Doreen Harris. EFI holds a virtual public webinar on Wednesday at 1:00 p.m. on accelerating clean hydrogen in the State of New York. On Thursday, Sen. Dan Sullivan headlines, as Jim Connaughton, David Banks and Alden Meyer talk COP26 while ClearPath’s Rich Powell and API’s Dustin Meyer look at emissions reduction policy. Finally, RFF holds an event on Friday at Noon on the costs and benefits of policy to achieve the 80x30 emissions goals.
Also this week, EPA is set to issue a final rule slashing the use of ozone-depleting, planet-warming hydrofluorocarbons before a Thursday deadline. Proposed limits for HFCs—used widely for industrial refrigeration and air conditioning—call for cutting production and use in the U.S. by 85% over the next 15 years through an allocation and trading program. The standards will be the first major regulatory step from the Biden administration to stem the release of planet-warming greenhouse gases.
Another important item for your schedule next MONDAY, September 27th. The National Pres Club hosts GE Renewable Energy CEO Jérôme Pécresse to address next steps in energy transition to meet UN climate goals. GE Renewables supplies wind turbines and advanced transmission technologies essential to the energy transition.
And remember to sign up for Amy Harder’s Cipher, a new Breakthrough Energy launching publication committed to covering the technological transformations needed to tackle climate change which launches on September 29th. Let’s try to get those vaccine shots if you can. Stay Safe and healthy.
Best,
Frank Maisano
(202) 828-5864
C. (202) 997-5932
FRANKLY SPOKEN
Arne Olson, a senior partner with Energy+Environmental Economics (E3) releasing a new study that says Natural gas will still be necessary even with the Clean Energy Payment Program (CEPP) being consider by Congress.
ON THE PODCAST
McCarthy Visits With Madam Policy – Late last week, the Bracewell PRG Madam Policy podcast team enjoyed a visit with the first National Climate Advisor for the White House Gina McCarthy. McCarthy joined hosts Dee Martin and Yasmin Nelson for a special episode of Madam Policy talking about climate change at one of the most important times for the climate agenda with the budget reconciliation provisions, Climate Week NYC next week and the November UN COP26 in Scotland. McCarthy talks about using her role to fight climate change and create history.
Heather Reams Talks Clean Energy Week with C3 – Speaking of National Clean Energy Week, Heather Reams joined Drew Bond on C3’s Right Voices to discuss NCEW and how it informs policy makers and the public about everything that is going on in the clean tech space, and what breakthroughs and policies are needed to accelerate innovation. Watch the full interview here.
FUN OPINIONS
FT: McKinley, Schrader Say Bipartisan Legis Better than Budget Trick for Climate – In an opinion piece in the Financial Times, Reps. David McKinley and Kurt Schrader write we must deal with climate change the same way bipartisan way we dealt with Infrastructure, rather than stuffing a bulky climate agenda through on a partisan vote using the budgetary process. They say despite their differences, they have worked together to craft ambitious, effective and bipartisan legislation to tackle the climate crisis and promote a clean energy future that started with a simple scientific premise: climate change is real, and time is running out to arrest its harm.
FROG BLOG
Expensive Reality Hitting Gas Bans – Former EIA head Guy Caruso, now the head of respected independent think tank CSIS, writes in Bloomberg that the urgency of acting on climate change is running into the reality of U.S. energy demands and the high costs of phasing out fuels like natural gas. A recent analysis from clean energy research and testing firm Pecan Street Inc. found that nearly 50 million single-family U.S. households would need to spend thousands of dollars to upgrade their homes’ electrical panels before they can “fully electrify” and abandon the use of natural gas, Caruso notes.
FUN FACTS
Longer Miles: The EPA says the newly-certified range of the luxury Lucid Air Dream Edition electric vehicle is 520 miles. The 520-mile range estimate is specific to the Air Dream Edition Range with 19-inch wheels. The optional 21-inch wheels drop the range to an estimated 481 miles. The range is over 100 miles more than the Tesla Model S Long Range, which delivers an estimated 405 miles on its best day. That mileage comes at a cost. The Lucid Dream edition will debut at $169,000
RECONCILIATION REPORT
Please find below the latest addition of the Policy Resolution Group’s FY2022 Budget Reconciliation & Infrastructure Update. Click here for full summaries of the House Energy & Commerce and House Ways & Means markups, plus a full document library of related items.
State of Infrastructure and Reconciliation Negotiations
Congressional negotiations over the bipartisan infrastructure framework and partisan budget reconciliation package have advanced over the past weeks, but Congress must resolve several critical issues before major deadlines.
On September 15, House Democrats led by Speaker Nancy Pelosi (D-CA) completed their committee markups of the $3.5 trillion partisan reconciliation bill, known as the Build Back Better Act. It includes significant provisions related to energy and the environment, tax laws, and expanding the social safety net.
The outlook of negotiations between the House and Senate remain hazy as moderate Democrats in both the House and Senate continue to express concerns over the economic consequences of the proposed reconciliation price tag. President Biden’s influence may prove determinative in helping Speaker Pelosi and Senate Majority Leader Chuck Schumer (D-NY) maintain support from the moderate and progressive wings of the Democratic Party.
Liam Donovan’s Bottom Line
Bottom line: Get comfortable. The House has likely reached the end of the line in terms of what it can accomplish without further cooperation from the Senate, the upper chamber seems to be operating on its own timetable, and neither exercise has yet been calibrated toward locking down 218 and 50 votes, respectively. That leaves the House in the position of either waiting around for the Senate to get serious, or trying to pass the largest possible package they can get the votes for, in the hopes that it will help their negotiating posture. Of course, the primary challenge in securing the votes is the tension between progressive desires to go big, and moderate reluctance to vote on anything that is dead on arrival in the Senate. In the meantime all eyes are on the three most important people in this process: Senator Joe Manchin (D-WV), Senator Kyrsten Sinema (D-AZ), and Senate Parliamentarian Elizabeth MacDonough, each of whom will have a significant hand in determining the scope and scale of the eventual package in the weeks and months to come.
This week, the last of the 13 House committees receiving reconciliation instructions advanced their respective legislative recommendations, meeting the non-binding September 15 deadline for committee input, and moving the process on to the Budget Committee to consolidate the components and prepare the omnibus package for eventual floor consideration. As alluded to in last week's note, the committees marked up according to the spending figures in the budget, keeping the $3.5 trillion framework alive, but delaying the eventual decisions on what will survive in a slimmed down final package. For that matter, several of the House authorizing committees are expected to be out of compliance with the reconciliation instructions, something that will have to be addressed by the Rules Committee before anything can be sent over to the Senate. In other words, the first draft of the House reconciliation bill is complete, but don't expect this version to ever see the floor, let alone the President's desk.
The Ways and Means package contained perhaps the most surprises, as the committee's sprawling jurisdiction made up roughly half of the proposed framework's cost, and much of its financing, including more than $2 trillion in highly anticipated offsets. Beyond the headline numbers -- a 26.5 percent top corporate rate, a 25 percent rate for capital gains and dividends, a 39.6 percent top individual bracket with broader application of the 3.8 percent NIIT, a 3 percent surtax on gross income above $5 million, various changes to the international code including a 16.5 percent GILTI rate—there were a number of notable omissions, including the preservation of stepped-up basis, a proposed minimum tax on book income, and no changes to long-targeted conventional energy related tax breaks like percentage depletion and intangible drilling costs (IDCs.) With a long way to go before this package can become law, nothing at this stage is dispositive, but decisions to include and exclude various provisions put a thumb on the scale as to which individual raisers can pass the House.
Meanwhile, the Senate's activity has been more opaque and its progress less apparent. They, too, are nominally operating around the September 15 deadline, but with no committee-level markup process expected, it's not entirely clear when the public will see the committee drafts. And when we do see them, perhaps as soon as the coming days, it's likely that they will amount to progressive markers resembling the House package, representing a path to a paid-for $3.5 trillion bill rather than something that could garner enough votes to become law. Indeed, the Senate Finance committee is expected to include various large-scale offsets that were excluded from the House package, an indication that the menu of revenue raisers is set to grow before the hard choices are made.
Next week, the reconciliation timeline will begin to collide with the end of September policy cliff facing Congress, as the House is expected to take up a continuing resolution to fund the government into early December, with a suspension of the debt limit attached. Republicans, led by Senator Mitch McConnell (R-KY), have been adamant that they will not support such a vote under any circumstances, meaning we could be in for a bumpy few weeks as Washington stares down the prospect of a government shutdown and/or federal default. All of which stands to overshadow what had been the main question over the last month--whether Speaker Pelosi would keep her word to marshal House Democrats and pass the bipartisan infrastructure package, or if the progressive caucus would stick to its guns and block the bill until reconciliation is done. The impending expiration of the current surface transportation law, followed closely by projected insolvency of the Highway Trust Fund, make this a tricky vote, but at the end of the day it will be up to the White House to bring Democrats along if they want to secure this win. And with no obvious/easy resolution in sight, Speaker Pelosi could always call an audible and table the vote citing the standoff over the fiscal cliff. And while reconciliation is incidental to most of these issues, they could become entangled as Republicans push Democrats to amend their instructions and lift the debt limit unilaterally.
Follow Liam on Twitter: @LPDonovan
The Breakdown with Yasmin Nelson
Congress has several critical issues to resolve within the next few weeks -- including funding the government, raising the debt ceiling, and passing the infrastructure and reconciliation packages. Congressional Democrats, led by House Speaker Nancy Pelosi (D-CA) and Senator Chuck Schumer (D-NY). Up first is President Biden’s economic agenda with the reconciliation package and the Senate-passed- bipartisan infrastructure deal having to be voted on by September 27. Government funding will lapse if Congress does not pass an appropriations bill by September 30 and the government could default on its obligations if they fail to raise the debt limit in October.
This week, the budget reconciliation process continued in the House where we were able to get a closer look at the potential provisions of the multi-trillion dollar reconciliation package. The legislation includes investments in climate change, infrastructure, higher education, public housing, children, and families.
The House Ways and Means Committee, a key committee because of the tax and spending provisions in the legislation, concluded its markup and advanced the provisions to the floor. However, the dissent from Rep. Stephanie Murphy (D-FL), the only Democrat on the committee to vote not to advance these provisions, shows early signs of the challenges Democrats face in passing the overall package.
This was not the only time Democrats broke with party leadership to not advance committee priorities. On day three of the House Energy and Commerce Committee markup, Rep. Schrader voted against advancing every other subtitle, including major climate priorities such as a methane fee and the Clean Electricity Performance Program. Reps. Scott Peters (D-CA), Kathleen Rice (D-NY), and Kurt Schrader (D-OR) also voted not to advance a leadership backed drug pricing provision. With three Democrats joining Republicans and creating a tie, the provision did not pass, shocking to some who thought it improper to vote against the chair and against party leadership. Although another House committee supports the provision, Speaker Pelosi and Democratic leadership still may not have the votes to pass the drug pricing provision as a part of the larger reconciliation package. This drug pricing provision alone is hoped to generate nearly $700 billion over a decade, which would leave a large deficit in the overall spending of the package.
Democrats also disagree on how to tax the wealthy. On the House Agriculture Committee, Chairman David Scott (D-GA) noted that “it would devastating” to include a provision that would change the way inheritance is taxed at death, or stepped-up basis. Many Democrats want to eliminate the tax break for property passed down when the wealthy owner passes away. The White House has already compromised—offering an exemption to family farmers up to $2.5 million. Leadership will have to work to delicately to balance the dissent of moderates in the party while forging a path forward.
Nevertheless, House Democrats are in agreement over provisions like extending the Child Tax Credit, clean energy incentives, increasing the capital gains rate, reverting the top individual tax rate back to 39.6 percent, and funding for greater IRS enforcement. House Speaker Nancy Pelosi (D-CA) wants to pass both the Infrastructure Investment and Jobs Act of 2021 and the FY 2022 budget reconciliation by the end of September. While it is quite hard to imagine an agreeable reconciliation package can pass both the House and Senate by the end of the month, it is still the intention of leadership to attempt to meet that accelerated time frame.
In the background, the White House and Democratic leadership are looking for a path keep the government funded and raise the debt ceiling. It is still expected that Democratic leadership will tie federal government funding to a clean lifting of the debt ceiling. Senate Minority Leader Mitch McConnell (R-KY) has stated that Republicans will not provide the votes necessary for this to pass.
Reportedly, Democrats are looking at a mechanism that would allow President Biden to unilaterally raise the debt limit, while providing Congress the ability to pass a resolution of disapproval to reverse that action. However, that type of twist in how the debt limit should be raised would require 60 votes in the Senate, which Democrats are not likely to secure. More on how this will be resolved will need to come together sooner than later.
Follow Yasmin on Twitter: @YasminRNelson
Listen in: PRG’s Yasmin Nelson and Liam Donovan joined Bloomberg’s “Talking Tax” Podcast to discuss recent developments on Capitol Hill and “break down why a repeal of a capital gains tax perk known as a the “step-up in basis” failed to make it into the House legislation, why the tax world should be paying attention to a troubled prescription drug pricing proposal, and when we can expect Senate Democrats to unveil their tax plan.” Available HERE.
Where We Are with Energy Tax by Timothy Urban
The dust is settling in the Ways and Means Committee hearing room in the Longworth House Office Building. One of the more significant markups in the last decade is over, and Chairman Richard Neal (D-MA) is wearing the laurel wreath - he successfully shepherded his Mark through the committee without amendment, and all but one of his fellow Democrats voted in the end (24-19) to approve the text. Republicans offered losing amendments and complained about various aspects of the bill, but did not appear to land any knockdown punches. Now it is up to the majority tax staff to compile the growing list of cleanup items and corrections that they contemplate adding to the bill before the eventual floor vote.
In the aftermath of the markup, tax attorneys are feverishly working away at involved tax memoranda, attempting to parse the intricacies of brand new conditions that were placed upon the clean energy credits in the House Chairman’s Mark. According to the House draft, taxpayers find themselves confronting greatly diminished base amounts and percentages for green energy credits. To earn their way back up to the more palatable full credit amounts, the companies will have to comply with a variety of different labor and in some cases, domestic content rules. Who is affected? What is the definition of a qualified facility? What if the plant was originally placed in service before the date of enactment? The answers appear to be lurking in the statutory drafts, but with so much investment at stake no-one can afford to move ahead without the considered thoughts of counsel on letterhead.
The public response to the markup from national environmental groups and clean energy companies was generally glowing. However, in one unanticipated turn of events, the Carbon Capture Coalition issued a press release voicing their concerns about the sec. 45Q credit rates, and arguing the bill contained “damaging provisions” requiring emitters to capture a minimum percentage of certain emissions per year that could stunt deployment of carbon capture technology. With key Senate votes being held by carbon capture advocates like Sen. Joe Manchin (D-WV), and with all of the administration’s well-known support for decarbonizing via carbon capture, it will be interesting to see if/how this issue is resolved.
Looking ahead, the upcoming process of assembling the Senate’s budget reconciliation tax package will tell us a lot about what the market will bear in terms of energy tax items passing the so-called “Byrd Bath” tests, and which tax incentives manage to hang in there if Senate moderates hew to their stated intention of forcing a downsizing of both the proposed tax increases, and the amount of revenue losing provisions. Depending upon the amount of revenue offsets on the table, the duration of the House-approved green energy tax credits is certainly at risk.
For now it looks like Senate Finance Committee Chairman Ron Wyden (D-OR) may drive the beginning of the process by offering up a draft package for the Democratic conference to review (Republicans are not expected to vote for the reconciliation bill - and therefore are not expected to receive much consideration of their priorities). From there, presumably there will be a frenzied period of horse-trading and summit negotiations including senior administration officials and the President himself until the Majority Leader has a package that he is confident can receive the votes of every Senate Democrat.
Energy and Environment Update with Christine Wyman
Earlier this week, the House Energy and Commerce Committee marked up its legislative recommendations for budget reconciliation as part of the Build Back Better Act, including Democrats climate provisions, which, occurring to Senate Majority Leader Schumer (D-NY) would be part of the path to reducing emission by 45% by 2030 as compared to 2005. The most significant of these provisions include a Clean Electricity Payment Program (CEPP) and Methane Fee. Although there was significant Republican and even moderate Democratic opposition, both the CEPP and the Methane Fee advanced on a partisan vote. Eyes now turn to the Senate, and in particular to Senate Energy Chair Manchin (D-WV), who, in addition to his concerns related to the overall price of the package, earlier this week said the climate provision “makes no sense at all.”
Details on the Clean Energy Payment Program
Regarding the CEPP, the House Energy and Commerce Committee released:
The Build Back Better Act invests $150 billion in a CEPP at the Department of Energy (DOE). The CEPP, which complements tax incentives for clean energy, will issue grants to and collect payments from electricity suppliers from 2023 through 2030 based on how much qualified clean electricity each supplier provides to customers.
- An electricity supplier will be eligible for a grant if it increases the amount of clean electricity it supplies to customers by 4 percent compared to its highest year of clean electricity. The grant will be $150 for each megawatt-hour of clean electricity above 1.5 percent the previous year’s clean electricity.
- Electricity suppliers must use the grants exclusively for the benefit of their customers, including direct bill assistance, investments in qualified clean electricity and energy efficiency, and worker retention.
- An electricity supplier that does not increase its clean electricity percentage by at least 4 percent compared to its highest year will owe a payment to DOE based on the shortfall. If, for example, the electricity supplier only increases its clean electricity percentage by 2 percent, the supplier will owe $40 for each megawatt-hour that represents the 2 percent shortfall.
- The CEPP gives electricity suppliers the option to defer a grant or a payment for up to two consecutive years.
- Eligible clean electricity is electricity generation with a carbon intensity of not more than 0.10 metric tons of carbon dioxide equivalent per megawatt-hour.
PRG Analysis:
Industry groups and at least one major utility have raised concerns with some of the key features of the plan, arguing that moving too rapidly could adversely affect reliability and that design features may have unintended and disproportionate impacts on some electric suppliers.
- With respect to the 4% clean-energy increase rate, supporters argue that the bill has a large carrot ($150/mwh) versus a small stick for the alternative compliance payment (ACP) ($40/mwh). The differential should buy a larger rate of incline, they reason. But given unknown factors like the rate of transmission uptake, reliability needs, and the lumpiness of renewable investment, 4% still seems to be a reach goal. However, the best of years to date do not typically reach 2% even with a range of available credits.
- The 0.10 metric tons figure for eligible clean energy was arguably designed to allow natural gas with CCS to qualify. However, there is much additional analysis and assessment to be understood to determine the net effect on gas.
- If an electric supplier does not meet the 4% increase, a $40/mwh penalty is imposed. But the penalty does not bring the electric supplier into compliance. Instead, in any subsequent year the electric supplier would need to increase its clean electricity by 4% plus its prior year shortfall, making it more and more difficult each year for an electric supplier to avoid the penalty.
- The addition of new generation, is not linear, but instead is added in chunks as new generation sources come online. This lumpiness, combined with the short duration of the program, creates challenges for a one year compliance program.
- The CEPP targets those electric suppliers that are providing electricity to customers. But in some areas of the country, these electric suppliers own little, if any, generation assets, creating a disconnect between the regulated entity and the entity generating the clean electricity.
Details on the Methane Fee
Regarding the Methane Fee, the House Energy and Commerce Committee released:
The Build Back Better Act establishes a methane fee on pollution from the oil and gas industry above specific intensity thresholds. The methane fee builds on EPA’s existing Greenhouse Gas Reporting Program, recognizes the cleanest performers, holds individual companies responsible for their own leaks and excess methane pollution, drives innovation in the sector, and supports the creation of good-paying jobs.
PRG Analysis:
- The provision is no longer based on the architecture of the Whitehouse March bill or subsequent draft. The Treasury Department is NOT charged with determining a basin-by-basin structure. Rather, EPA is authorized to build off of its existing GHG reporting.
- The sources covered will be those identified in Subpart W, including upstream, midstream and downstream components.
- The methane fee WILL NOT be applied to imports of oil and gas. The only trade implication is that it will likely apply to LNG IMPORT and EXPORT facility emissions but not to imports of either oil or gas.
- Many have suggested that the provision could be criticized as double taxation (or double regulation) in light of the pending EPA upstream methane regulation. They argue that the fee kicks in TWO YEARS, allowing for implementation of the regulation before imposition of the fee. Given the potential for litigation and delay, we are dubious as to this effect.
- EPA is directed to update its GHG Reporting Program to be based on empirical data (currently much of the reporting is based on industry average emission rates), arguably so that emission reductions at facilities would be reflected in the reporting and theoretically result in a lower fee.
IN THE NEWS
Metals Co Rings NASDAQ Bell to Launch – On Friday, executives at the Metals Company ring the NASDAQ bell on the trading floor in New York. The company aims to collect critical minerals off the floor of the Pacific Ocean to meet the increasing demand for clean energy applications like EVs, solar panels and batteries. CEO Gerard Barron said “If you read the latest reports from the Intergovernmental Panel on Climate Change and the International Energy Agency, it’s clear that the transition to clean energy simply cannot happen at scale and on the schedule needed to keep global warming at bay without urgent, large-scale investment in the upstream production of critical metals. We believe we have a solution that is more scalable, secure, lower cost and lower impact than mining these minerals on land: We can produce battery metals from high-grade polymetallic nodules found on the seafloor in the international waters of the Clarion-Clipperton Zone.”
WoodMac: Wind, Solar Could Energize 66% of Power Generation by 2035, But 100% Carbon-Free Energy Unlikely – A new WoodMackenzie report says the U.S. is likely to achieve two-thirds decarbonization of its power sector by 2035, but President Joe Biden's target of carbon-free power by 2035 may be out of reach. Wind and solar power would have to become the largest generation sources by 2035, alongside massive expansion in carbon capture and zero-carbon hydrogen. In addition, total U.S. energy demand would also have to peak at the end of 2021 to balance this equation. The report attributed the delay, in part, to the length of time it takes to develop renewable energy solutions and corresponding policies. Technologies that will take time include making hydrogen from power generated by wind and solar farms for use in synthetic fuels or to burn in industrial boilers, and capturing carbon emissions from fossil fuel plants before they reach the atmosphere. A lack of transmission lines to get electricity from clean energy in rural areas to population centers will also need to be overcome.
Group: CEPP Raises Reliability Concerns – ELCON, led by for Montana PUC Commissioner Travis Fisher, sent a letter to Senate Energy leaders last week allow for much-needed debate and stakeholder input on the Clean Electricity Performance Program (CEPP) as outlined in legislation recently approved by the House Energy and Commerce Committee. ELCON, a national association representing large industrial users of electricity that advocates for resource-neutral policies that improve the reliability and reduce the cost of electricity, said they are concerned that CEPP may (1) negatively impact electric reliability, (2) fail to reduce greenhouse gas emissions cost-effectively, and (3) not be durable, potentially introducing a high degree of uncertainty in electricity markets.
SRP Rolls Out Giant Battery Project – Salt River Project has placed into service a 25-megawatt (MW) battery storage facility at its Bolster Substation, which is adjacent to its Agua Fria Generating Station, located in Peoria. 25 MW is enough energy to power about 5,600 typical residential homes. The battery system consists of a series of Tesla Megapacks that are connected directly to SRP’s energy grid and is the largest stand-alone battery storage system in Arizona. The batteries can be recharged overnight when power is abundant and less expensive and then discharged during peak energy periods to help meet high customer demand. The storage solution is extremely efficient, making use of renewable energy when there is a surplus. The system’s renewable-charging capability will also increase over time as SRP continues to add more solar energy resources to its power grid. This summer the utility announced an expanded commitment to add 2,025 MW of utility-scale solar energy by the year 2025.
Sununu Budget Director Joins ClearPath – ClearPath announced Matthew Mailloux, former State Budget Director for the Office of Governor Christopher T. Sununu (R-NH), has joined as a Policy Analyst. Mailloux will work across our clean energy technology portfolio, with a focus on economics, finance, and power markets.
ON THE SCHEDULE THIS WEEK
MOST EVENTS SCHEDULED ARE NOW ONLINE WEBINARS
Clean Energy Week, Climate NYC Set for Next Week – The 5th annual National Clean Energy Week begins this week while Climate NYC also will be underway. I am listing a few events here and there, but there will be a million events. You can see the entire Line up HERE. Speakers in NY will include European Commission President Ursula von der Leyen, Bill Gates, John Kerry, UNEP executive director Inger Anderson and IEA’s Faith Birol.
Concordia Summit Set – The 2021 Concordia Summit, the leading nonpartisan forum alongside the U.N. General Assembly, will take place in New York City this week. The annual summit will convene the top global movers and shakers—including global C-suite executives, politicians, nonprofit leaders and entrepreneurs—to spark dialogue, catalyze collaboration and collectively pave the path toward a more equitable, sustainable future.
Forum to Look at Cities Sustainable Goals – The Center for Sustainable Development and the United Nations Foundation will co-host the third annual “American leadership in advancing the sustainable development goals” event today at 1:00 p.m. on the sidelines of the U.N. General Assembly. This high-level virtual event will showcase how American leaders and institutions are using the SDGs to build resilient and inclusive communities across the United States. This event will showcase American leadership, ingenuity, and commitment to a domestic agenda that leaves no one behind and embraces the deep transformations required for long-term sustainability and equity. It features the experiences and innovations of people across America, including work in Orlando, Phoenix, and San Diego, leadership by young people, and a special focus on advancing equity.
Bloomberg, Inslee, Newsome Headline All in Forum – Today at 2:00 p.m., WRI’s America Is All In will hold a discussion with federal, subnational and private sector leaders about the critical need for an all-in strategy to address the climate challenge and achieve the nation's NDC. The official Climate Week NYC event will also feature a discussion with analytical experts to discuss breakthrough policies to achieve U.S. climate goals and what they mean in practice. Michael Bloomberg, CA Gov. Gavin Newsom, Washington State Gov Jay Inslee and Maryland Secretary of the Environment Ben Grumbles are among the speakers.
BCSE Hosts Forum with HVAC CEOs – TODAY at 4:00 p.m., the Business Council for Sustainable Energy kicks off National Clean Energy Week with a forum featuring interviews with Johnson Controls CEO George Oliver of, Schneider Electric CEO Jean-Pascal Tricoire and Trane Technologies executive Paul Camuti. The panel will focus on how existing solutions can deliver near-term emissions reductions to help countries meet more ambitious targets, and what innovative solutions are in the pipeline.
Australian PM Talks Climate at Columbia Center – Today at 6:00 p.m., the Columbia Center on Global Energy Policy holds a dialogue between former Prime Minister Rudd and CGEP Inaugural Fellow David Sandalow, a former senior official at the White House, State Department, and U.S. Department of Energy. Rudd and Sandalow will discuss the current tensions between the US and China, their impact on global efforts to combat climate change, expectations for COP26 in Glasgow, and climate politics around the globe.
Transmission Conference Set – Global Transmission's 5th conference on Offshore Wind Transmission US, being held on tomorrow and Wednesday at Conrad New York Downtown. The mission of the conference is to highlight the opportunities in the US offshore wind sector and discuss technologies and solutions for the development of the related transmission infrastructure.
WCEE to Focus on Hydrogen – Tomorrow at 8:30 a.m., the Women’s Council on Energy and the Environment (WCEE) will hold a forum on hydrogen developments. This event will focus on global developments in the emerging market for hydrogen with a focus on the development of markets in Asia and the European Union.
Climate Jobs Summit Set – The Climate Jobs Summit will be held tomorrow and brings together newly established state Climate Jobs coalitions, labor leaders, union climate activists, environmental and environmental justice advocates, clean-energy developers, policymakers, educators, scientists, and all who want to build the clean-energy economy of tomorrow with good union jobs. The Summit will feature speakers and panelists from around the country. The event will talk about the ways that climate change and inequality are inextricably linked, dig into the once-in-a-generation opportunity to create good family-sustaining jobs by developing the renewable energy sector, and engage in a holistic discussion about just transition for workers in fossil fuel industries and their communities.
Senate Energy Hosts Noms – The Senate Energy Committee holds a nomination hearing tomorrow at 10:00 a.m. on Laura Daniel-Davis to be an assistant Interior secretary for land and minerals management; Camille C. Touton to be commissioner of reclamation; and Sara C. Bronin to be chairman of the Advisory Council on Historic Preservation.
Forum Explores Carbon Tariffs – Tomorrow at 10:00 a.m., the Information Technology and Innovation Foundation holds a discussion on the current state of carbon tariffs, their challenges, and potential multilateral alternatives. Speakers include RMI’s Sarah Ladislaw.
Forum to Focus on China Environment Issues – The Congressional-Executive Commission on China holds a hearing tomorrow at 10:00 a.m. on China's environmental challenges and US responses.
ELI Looks at Green Financial Tools –Tomorrow at Noon, the Environmental Law Institute and leading experts will explore the opportunities and challenges of leveraging green financial tools to combat climate change. Expert panelists will explore the regulatory process of green bonds and stocks including defining “green” conditions, issuing green bonds and stocks, and advising on corporate financing and government matters. Leading panelists will dive into best practices for advising stakeholders and clients interested in green bonds, coordinating capital markets transactions, and developing relationships with investors. Finally, expert panelists will provide examples of obstacles and opportunities for green bonds as a tool to fund climate mitigation and adaption projects.
Forum Tackles Carbon Removal – The Center for Climate and Energy Solutions (C2ES) holds a forum tomorrow at 1:00 p.m. on scaling carbon dioxide removal. In this webinar, experts will discuss the potential role of nature-based and technological CDR solutions in future comprehensive decarbonization strategies, overcoming barriers for large-scale deployment of CDR, and how environmental justice can be embedded in CDR frameworks.
Forum Look at Business, Climate – The U.S. Chamber of Commerce and the International Emissions Trading Association (IETA) hold a Climate Week NYC forum tomorrow at 2:00 p.m. on businesses at the forefront of energy innovation and sustainability. This webinar will feature top executives from across the economy who will discuss ways that their companies and the U.S. business community are leading the world in climate solutions. Speakers will address the private sector’s role in developing, financing and building the emissions-reducing technologies that are necessary to effectively address climate change in the U.S. and around the world.
Senate Mark Up, Hearing on Circular Economy – On Wednesday at 9:30 a.m., Senate Environment and Public Works Committee holds a markup and hearing on the circular economy as a concept for creating a more sustainable future.
Sen. Smith Addresses Climate at Atlantic Forum – The Atlantic holds its virtual 2021 Atlantic Festival on Wednesday to Friday. Sen Tina Smith will speak on Wednesday at 10:00 a.m. regarding climate.
WaPo Live Host Jane Goodall – The Washington Post Live holds a virtual discussion Wednesday at 10:00 a.m., focused on climate solutions and wildlife conservation with conservationist Jane Goodall and WildlifeDirect CEO Paula Kahumbu.
Forum to Look at Offshore Wind Supply Chain – The Business Network for Offshore Wind holds a webinar on Wednesday at 10:00 a.m. looking at the offshore wind supply chain, suppliers that are and should be a part of it, and how to get started using the registry, Supply Chain Connect. This webinar is produced in partnership with the National Offshore Wined Research and Development Consortium (NOWRDC), National Renewable Energy Laboratory (NREL), and DNV as part of the project, 30 GW by 2030: Supply Chain Roadmap for Offshore Wind in the U.S.
Forum to Look at Forests, Climate – On Wednesday at 11:00 a.m., WRI’s Cities4Forests, a coalition of 73 major cities committed to greater forest action, will host a panel discussion of high-profile mayors who are leading some of the most innovative efforts to use forests and other nature-based solutions to fight climate change, ensure water security, preserve biodiversity, protect human health and well-being, and promote greater social equity. This event will pave the way for increased climate ambition at the UN Climate Summit COP26 in Glasgow as leading national governments, global companies, and major financial institutions respond to the Call to Action by demonstrating their commitments to forest action for climate mitigation and adaptation, pledging to work with cities on forest issues; and sharing the most impactful forest-related plans, policies, and investments.
McCarthy, Krupp Chat Climate with Axios – Axios holds a virtual event on Wednesday at 12:30 p.m. on the commitments being made to combat climate change. As the wrap-up to its Energy Forward series, they will discuss the innovative approaches climate leaders are undertaking in order to reshape new standards and practices for sustainability initiatives in 2022 and beyond. Axios Co-founder Mike Allen and Energy Reporter Ben Geman will host one-on-one conversations with White House National Climate Advisor Gina McCarthy and EDF’s Fred Krupp.
Forum to Look at Women Leaders in Nuclear – The American Nuclear Society hosts the newest collaboration of AtomicAllies (ANS, NAYGN, WIN and NEI) with a panel discussion on Wednesday at 1:00 p.m. on empowering women to succeed. The event will feature some of the brightest stars of the industry sharing their keys to success. The line-up is keynoted by Rosemary Yeremian, an experienced professional with 25 years in the industry, recently published the book “Step Up: The Key to Succeeding in Male-Dominated Businesses.” Rosemary will share lessons from her book and moderate a panel discussion of fellow leaders around strategies and tactics to help women succeed in their careers in the nuclear field. Panelists include Exelon’s Amber Von Ruden, GE Hitachi’s Jhansi Kandasamy, Luminant’s Sarah Camba Lynn and NEI’s Kaitlin Rekola.
EFI Report, Forum to Discuss Hydrogen in NY – The Energy Futures Initiative (EFI) holds a virtual public webinar on Wednesday at 1:00 p.m. on accelerating clean hydrogen in the State of New York. The event will feature a look at the major findings of EFI’s new report “The Future of Clean Hydrogen in the United States: Views From Industry, Market Innovators, and Investors”. The event continues with a roundtable discussion with key New York stakeholders led by the New York State Energy Research and Development Authority (NYSERDA).
Forum Focuses on Net Zero Emissions – Third Way holds a webinar on Wednesday at 1:00 p.m. to discuss how the US and Europe are financing the path to net-zero emissions. In comparing finance mechanisms for clean energy technologies across the US and Europe, we hope to emphasize the role of “firm”, dispatchable clean energy sources as a complement to renewables like wind and solar. Experts from the Biden Administration, European NGOs, and intergovernmental economic organizations discuss how energy markets are shifting to support emerging clean energy technologies that will play a pivotal role in our global decarbonization strategy. Among the speakers is DOE’s Jigar Shah.
DOE Lab Releases Solar Report – On Wednesday at 1:00 p.m., Lawrence Berkley Laboratory holds a webinar summarizing key findings from the latest edition of its “Tracking the Sun” annual report, describing pricing and design trends for grid-connected, distributed solar photovoltaic (PV) systems in the United States. The report provides an overview of both long-term and more-recent pricing trends, highlighting the widespread variability in system pricing and exploring underlying drivers for that variability. The report also describes trends in distributed PV system design and other project characteristics, including trends in system size, module efficiency, the use of module-level power electronics, inverter loading ratios, mounting-type, system orientation, solar-plus-storage, third-party ownership, and customer segmentation. The full report can be downloaded, along with an accompanying narrative summary briefing, online data visualizations, public dataset, and summary data tables.
NHA Forum Looks at Pumped Storage – On Wednesday at 2:00 p.m., the National Hydropower Association on World Energy Storage Day holds its Path to Clean Energy Virtual Event on pumped storage hydropower. World Energy Storage Day is an opportunity to shine a spotlight on pumped storage - America’s largest source of grid-scale energy storage. The virtual event will feature a discussion with Jennifer Garson, Acting Director of the U.S. Department of Energy’s Water Power Technologies Office. The event will also showcase a panel discussion on NHA’s 2021 Pumped Storage Report. The new report focuses on energy markets, energy storage policy, development opportunities and challenges, and technological advancements; and provides recommendations to unlock the full value of this long-duration renewable storage resource.
Joint Econ Committee Looks at Building Electrification – The Joint Economic Committee holds a hearing on Wednesday at 2:30 p.m. examining the economic benefits of electrifying America's homes and buildings. Activist Leah Stokes will be among those testifying.
Forum to at Transpo Issues for COP26 – On Thursday at 8:30 a.m., Allied for Climate Transformation (ACT2025) holds a webinar where speakers from around the world will lay out what COP26 must achieve to meet the needs of developing and climate-vulnerable countries. During the event, ACT2025 partners will unveil an Alliance Statement that offers a united vision for success at COP26 – such as ambitious emissions cuts, climate finance, adaptation, loss & damage, and rules & architecture – and offers clarity on how these outcomes can be achieved.
House Ag Looks at Carbon Markets – The House Agriculture Committee will hold a hearing on Thursday at 10:00 a.m. on voluntary carbon markets in Agriculture and Forestry.
House Science Looks at NOAA Earth Science – The House Science, Space and Technology Committee's Environment Subcommittee will hold a hearing on Thursday at 10:00 a.m. looking at advancing Earth System Science and Stewardship at NOAA. NOAA Administrator Richard Spinrad testifies.
WaPo Hosts UN COP Head – The Washington Post Live holds a discussion on Thursday at 10:00 a.m. with Alok Sharma, president of the United Nations Climate Change Conference (COP26). The conversation will look at issues topping the climate agenda, challenges with COVID-19 accommodations and Sharma’s recent efforts to ensure international commitment to climate initiatives.
Event Tackles Climate Governance Future – On Thursday at 10:00 a.m., the Stimson Center holds a UNGA side event that will discuss what new approaches and governance innovations might the international community wish to consider, as a matter of priority for climate action. See the full speaker list here.
Forum Looks at COP26 – The Center for Climate and Energy Solutions (C2ES) holds a forum on Thursday at 10:30 a.m. on COP26 and beyond. The forum will address perspectives from key thought leaders on where the world currently stands on climate ambition, what needs to be delivered at COP26, and what has to happen afterward to get on track to achieving the Paris Agreement’s long-term goals, including through the global stocktake process.
Forum Features EU Green Deal Head – On Thursday at 11:00 a.m., the Atlantic Council Global Energy Center welcomes Frans Timmermans, European Commission Executive Vice-President for the European Green Deal, to discuss the European Union’s proposals on climate, energy, transport, and taxation policies, as well as global climate ambition ahead of COP26. In this discussion, Timmermans will discuss the path forward for those proposals, his outlook on COP26, and the role of the transatlantic relationship in advancing global climate ambition.
Chamber Forum Looks at Public-Private Partnerships – The US Chamber of Commerce and the National Association of Counties hold a webinar on Thursday at 1:00 p.m. to discuss how PPPs and “Energy as a Service” are being used to advance energy management and meet climate action objectives. The webinar will serve to further assess members’ interests and needs for more detailed offerings on this topic and other energy and resilience finance opportunities.
BCSE Panel Looks at Mitigation, Resilience – On Thursday at 1:00 p.m., the Business Council for Sustainable Energy holds a forum on mitigation and enhanced resilience of climate change solutions. This panel will make the case to invest in clean energy and energy efficiency and sustainability solutions that both enhance resilience and advance the transition towards the creation of net-zero economies. Energy Storage CEO Jason Burwen, Sempra’s Sharon Tompkins are among the speakers.
Forum to Look at Innovation – The Environmental Defense Fund and Third Way hold a virtual discussion on Thursday at 1:00 p.m. looking at climate innovation policies and approaches during Climate Week. The event looks at how we can best shape climate innovation policy so it not only accelerates the shift to a net-zero economy, but delivers high-quality jobs for workers and a greater quality of life for all communities. Wisconsin Lt Gov Mandela Barnes, BlueGreen’s Jessica Eckdish and our Navajo Nation friend Chris Deschene
Forum to Look at Carbon Neutral Buildings – On Thursday at 1:00 p.m., the New Buildings Institute holds a forum on carbon neutral buildings. This webinar will help align the market around what it means to design, construct, and operate carbon neutral buildings. Presenters will state the importance of reducing energy and carbon emissions and present the differences between zero energy and carbon neutral buildings. Case studies will show the integrated nature of the common components of a carbon neutral building.
C2ES Forum Looks at Climate Pledges – The Center for Climate and Energy Solutions (C2ES) holds a forum on Thursday at 1:00 p.m. on climate pledges and how to turn them into action. Industry leaders from major sectors such as finance, aviation, and utility for a discussion around how they are working to transform their industries and tackle challenges as they work to address climate change. Panelists will discuss their current progress toward their climate commitments and what it will take to achieve their ambitious goals.
NYT Climate Forum Looks at Transport, Logistics – The New York Times hosts the latest episode of Netting Zero on Thursday at 1:30 p.m. to look at the international logistics systems that form the backbone of globalization. Experts will discuss the future of international air and shipping freight, and potential solutions for dramatically reducing the carbon footprint that results from moving goods.
RFF Looks at Land Use Policies – Resources for the Future (RFF) holds an event on Friday at Noon on the costs and benefits of policy to achieve the 80x30 goal and other emissions-reduction policies relevant to current national discussions. The panel of experts—including researchers from the Clean Energy Futures project—will discuss what’s at stake in the decisions before Congress.
Forum Look at Stakeholder Engagement – NARUC holds a
