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Your weekly intelligence on Decarbonization Policy and Impacts
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NetZero Insider headlines this week covered a lot of ground, from Energy Secretary Jennifer Granholm’s chilly reception at CERAWeek in Houston — reported by our Tom Kleckner — to K Kaufmann’s rundown on some of the key energy bills that have a chance of passage — having been approved by at least one house in the Maryland General Assembly by the “crossover” deadline.  


Among them are H.B. 505, which would require Maryland utilities to join PJM and issue a public report on how they voted at all RTO meetings. And you don’t want to miss Granholm’s snappy comebacks for sharp questions about the Biden administration’s pause on new LNG export facilities.  


Solar got a lot of headlines, beginning with James Downing’s overview of a report from the Solar Energy Manufacturers for America Coalition  which identifies gaps in the Inflation Reduction Act’s supply chain incentives and warns the global glut of cheap panels could undercut the reshoring of solar manufacturing in the U.S.  


West Coast correspondent Elaine Goodman reports on FERC’s refusal to wade into rooftop solar customers’ complaints that Arizona’s Salt River Project rates are discriminatory. The controversy will likely head next to a state-level legal challenge.  


Another tough issue for solar across the country is the rising number of installers going out of business and the customers and projects stalled or stranded as a result. The New Jersey Board of Public Utilities wants to help out such customers in the Garden State via a new order that will ease some of the requirements for projects applying for the state’s solar incentives, according to correspondent Hugh Morley.  


Solar was also a hot topic in our curated content: 

  • The New York Times covers the booming market in transferable tax credits the IRA provides for solar and wind projects. 

  • But an op-ed by PA Consulting argues that U.S. companies are not taking full advantage of the opportunity.  

  • Another global glut story reports on First Solar CEO Mark Widmar’s warning to the Senate Finance Committee about China’s continued efforts to circumvent U.S. tariffs on cells and panels with Chinese components. 

Heading west, California correspondent Ayla Burnett looks at the state’s latest efforts to streamline the application process for private companies seeking  federal funds to install EV fast chargers on state highways. 


The California-Quebec carbon market might be expanding to include Washington state, with the three jurisdictions publicly announcing they are exploring the possibility, NetZero dynamic duo John Stang and Robert Mullin report.  


Another can’t-miss article is New England correspondent Jon Lamson’s piece on the challenges of selling the public on the long-term benefits of major clean energy infrastructure projects – read, big solar, wind and transmission. 


And let’s finish off with a lightning round of curated reports: 

  • No surprise here, the Securities and Exchange Commission’s new rule on disclosure of climate-related risk has set off a furious round of legal challenges, and the rule is now under a temporary hold granted by a federal court, according to The New York Times.  

  • Educating the public on the benefits of wind and solar development may be critical for clean energy advocates in Nebraska, who are fighting a bill that could further politicize and slow the permitting of these projects in the state. 

  • Advocates and opponents of the Environmental Protection Agency’s new rules on vehicle emissions quickly rolled out their arguments. Reason magazine contends that the rule is still too prescriptive and likely to backfire, while Fast Company predicts that the billions invested in the EV transition — and the jobs created in predominantly red states — should keep it safe from a potential repeal by a second Trump administration.

We have even more stories in this week’s Intelligence Report below. Read on! 


Jump To

Equity & Economics
Finance & Investing
Impact & Adaptation
Policy & Politics

 
 

Equity & Economics

U.S.

Biden's Climate Law Has Created a Growing Market for Green Tax Credits

The Inflation Reduction Act has created a large and growing market for companies to buy and sell clean-energy tax credits, new Treasury Department data suggests. More than 500 companies have registered a total of 45,500 new clean-energy projects with the Internal Revenue Service to benefit from tax breaks. The New York Times


Economic Impact

International

OPINION: Making the Case for Capitalism

Increasingly, making money and bending the curve on planet warming emissions is not an either-or proposition, says Akshat Rathi, author of Climate Capitalism. He argues that short-term economic incentives can deliver long-term, environmentally beneficial change. The New York Times


Environmental Justice

Montana

Montana climate plaintiffs respond to state's Supreme Court appeal

Attorneys representing 16 youth plaintiffs in the Held v. Montana case filed a rebuttal to the state's decision that Montana greenhouse gas emissions are a small fraction of the global contributions to climate change and could not solely be responsible for violating the plaintiffs' constitutional rights. Daily Montanan


Pennsylvania

In the 'Armpit of the Universe,' a Window Into the Persistent Inequities of Environmental Policy

Researchers found that the effectiveness of the Clean Air Act is often a function of race and socio-economic factors. In Clairton, Pennsylvania, residents say they see that firsthand. Inside Climate News


U.S.

Biden-Harris Admin Launches Clean Energy Connector to Bring Nearly $15 Million in Annual Energy Savings to Up to 40,000 Low-Income Households

The Biden administration on March 19 launched the pilot of the Clean Energy Connector, a tool that connects families to solar energy through the Department of Health and Human Services' Low-Income Home Energy Assistance Program. The software can now be used by local program administrators in Illinois, Washington, D.C., and New Mexico to connect community solar subscriptions to as many as 40,000 low-income households. CleanTechnica


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Finance & Investing

Illinois

Microsoft Signs 15-Year "Environmental Justice PPA" from New Solar Farm with EDP, Volt Energy

The EJ PPA will enable Hickory to contribute funding to enable the Sharing the Power Foundation to administer funds to mission-aligned programs. Founded by Volt, the foundation's mission is to build the next generation of environment justice leaders through the equitable distribution of opportunities produced by the clean energy economy. ESG Today


U.S.

Biden's Climate Law Has Created a Growing Market for Green Tax Credits

New Treasury Department data shows companies have registered 45,500 projects for possible sale on a new tax-credit marketplace. New York Times


U.S.

Companies are missing opportunities with the IRA's clean energy tax credit incentives

By engaging in the clean energy tax credit market, companies can rapidly advance their decarbonization records as they support the country's shift to a greener energy mix. Yahoo


U.S.

Constellation offers nation's first corporate green bond for nuclear energy

Constellation will use proceeds from the $900 million, 30-year term offering for investments such as maintenance, expansion and life extensions of its clean, reliable nuclear power generation that reduce or avoid carbon emissions or provide other environmental benefits. The Daily Record


U.S.

Biden's Climate Law Has Created a Growing Market for Green Tax Credits

The climate law that President Biden signed in 2022 has created a large and growing market for companies to buy and sell clean-energy tax credits, new Treasury Department data suggests, creating opportunities for startups to raise money for projects like wind farms and solar panel installations. The market also provides new opportunities for large companies and financial firms to make money. Treasury officials reported March 19 that more than 500 companies had registered a total of 45,500 new clean-energy projects with the Internal Revenue Service to benefit from tax breaks in the 2022 law. The New York Times


U.S.

Eos, ESS Inc and Energy Vault narrow losses and lower costs on long 'path to profitability'

Eos Energy Enterprises, ESS and Energy Vault have increased their revenues and narrowed losses, according to financial results from the three 'non-lithium' energy storage companies. The trio, which all listed their stock publicly following mergers with special purpose acquisition companies during the first two years of the COVID-19 pandemic, have reported their latest quarterly and full-year 2023 results in the past couple of weeks. Energy Storage News


U.S.

First Solar CEO warns senators of 'collapse' in solar cell, module pricing

The U.S. solar industry and domestic manufacturing have been bolstered considerably by the Inflation Reduction Act, but "there is great risk that the largest beneficiary of the IRA's solar energy tax credits may be China," First Solar CEO Mark Widmar told the Senate Finance Committee in a March 12 hearing. Utility Dive


U.S.

Fisker pauses production, gains funding commitment amidst financial woes

Fisker will pause production of its electric vehicles for six weeks, and the company also says it has received a financial commitment of up to $150 million amid financial concerns. On March 18, the EV maker said it will sell convertible notes at a 10% discount to an investor, generating up to $150 million, according to Reuters. Teslarati


U.S.

How Clean Energy Tax Breaks Could Fuel a US Wood Burning Boom

While the forest biomass industry maneuvers to try to take advantage of new federal climate policy, environmental advocates are pushing back and trying to protect trees. Inside Climate News


U.S.

NuScale CEO touts data center deal, heavy industry SMR interest amid $180M loss for 2023

On March 14, NuScale Power reported fourth-quarter and full-year financial results for 2023. NuScale reported fourth-quarter revenues of $4.6 million, full-year revenues of $22.8 million and respective quarterly and annual net losses of $56.4 million and $180.1 million, according to a company-provided summary of its results. Utility Dive


U.S.

What the SEC's climate rule means for IPOs

While many large public companies have been bracing for the Securities and Exchange Commission's new climate risk and emissions disclosure rule, smaller companies looking to go public are less likely to have the systems in place to comply with the rule. GreenBiz


U.S.

Federal appeals court pauses SEC climate rule implementation

The U.S. Fifth Circuit of Appeals granted a motion for administrative stay of the Securities and Exchange Commission's recently finalized climate risk disclosure rule March 15 in response to a petition filed by Colorado-based Liberty Energy, the U.S. Chamber of Commerce and the states of Mississippi, Louisiana and Texas. ESG Dive


Insurance

Connecticut

Connecticut wants to penalize insurers for backing fossil-fuel projects

The insurance industry a unique role on both sides of the climate crisis: Insurers are helping make the problem worse by underwriting the very projects that warm the Earth even as they bear the costs of mounting climate disasters and pass them on to customers. Grist


Connecticut

Connecticut wants to penalize insurers for backing fossil-fuel projects

Floods, fires, and other natural disasters have forced insurers to pay out billions in claims, and many have responded by raising premiums in disaster-prone states like Florida and Oregon. But many of these companies also provide coverage for fossil fuel projects. Legislation in Connecticut could make insurers pay for that contradiction. Grist


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Impact & Adaptation

Maine

Climate scientists predict strains on Maine's economy and health systems

Climate scientists presented their updated assessments to the Maine Climate Council on March 14 of the potential impacts of climate change on Maine's environment, health and economy. Maine Beacon


Michigan

Lake Superior is warming fast. Its national parks are starting work to cut fossil fuels

As national parks around the country try to raise awareness about climate change, those around Lake Superior are taking steps to cut their emissions. The National Parks of Lake Superior Foundation and the National Park Service announced recently that the parks are starting to implement plans to get their operations off fossil fuels. The coordinated effort, called Decarbonize the Parks Project, launched last year and has roots in long-standing plans to stop using diesel generators on Isle Royale. Michigan Advance


Montana

Montana Public Service Commission to hold hearing on petition to consider climate change

The Montana Public Service Commission will hold a public hearing at 9 a.m., April 8 on a petition to adopt a rule to require consideration of climate change impacts on health and the environment in its decisions. Daily Montanan


U.S.

Can Climate Cafes Help Ease the Anxiety of Planetary Crisis?

A new grassroots movement, climate cafes have sprung up around the world to help people cope with grief, fears, anxiety and other emotions about the climate crisis. They have been a place for group conversations and bonding over shared anxiety. The New York Times


U.S.

Lake Superior is warming fast. Its national parks are starting work to cut fossil fuels

"Even though the carbon footprint is small, the example being led by these parks is huge," said Tom Irvine, executive director of the National Parks of Lake Superior Foundation. Michigan Advance


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Policy & Politics

California

California lawmakers backpedal on income-based utility charges as IOUs, others propose alternatives

Some California lawmakers have proposed repealing a 2022 measure, the income graduated fixed charge, that would protect low-income customers and beneficial electrification from electricity rates that are now the nation's third-highest. Utility Dive


California

Former head of San Francisco Public Utilities Commission given 4-year prison sentence

The former head of the San Francisco Public Utilities Commission will serve four years in prison for honest services fraud bribery conspiracy and a separate bank fraud scheme and conspiracy. Harlan Kelly Jr. was convicted in July of 2023, and sentenced March 18. He was also ordered to pay a $10,000 fine, the Department of Justice said. KPIX


International

Barclays CEO Says 'Wavering Strength' Hurting Net Zero Shift

After long promoting their climate work, many major financial institutions are now scaling back participation in international climate agreements. amid partisan pressure on ESG initiatives. Yahoo


Kentucky

OPINION: New bureaucracy would burden Kentuckians with higher power bills if Senate Bill 349 becomes law

A new state bureaucracy isn't the answer to the attack on coal from Washington D.C, Kentucky Forum for Rights, Economics & Education President Andrew McNeill writes. Instead, Kentucky's attention should be focused on winning that battle in the courts. Kentucky Lantern


Maine

Maine environmental board rejects controversial EV rules

Maine's Board of Environmental Protection voted March 20 not to move forward with controversial rules aimed at increasing sales of electric vehicles in the state. The proposal., which may be adopted by the Legislature, would have added Maine to the growing list of states using government regulations to push car makers into selling more zero-emissions vehicles. Maine Public Radio


Maryland

Controversial Maryland Data Center Bill Tests Governor's Climate Credentials, Environmentalists Say

Governor Moore's administration is supporting legislation to exempt data centers from environmental scrutiny. Advocates say that amounts to reneging on previous climate promises. Inside Climate News


Massachusetts

Massachusetts launches Office of Energy Transformation

First in the nation office to guide the clean energy transition in Massachusetts. Environment America


Minnesota

What's the future of gas? In Minnesota, utilities have to share 10-year visions

The Minnesota Public Utilities Commission last month voted to require gas utilities to file long-range resource plans, similar to those used for electric utilities. Energy News Network


Missouri

Missouri's commodity groups back legislation expanding Public Service Commission

A Callaway County commissioner and most of Missouri's commodity groups support legislation increasing the number of Public Service Commission members from five to seven. The bill is expected to hit the Missouri House floor after the legislative spring break, which began March 17. KWOS


Montana

Supreme Court orders Montana's Public Service Commission to reconsider lack of renewable energy

In a decision released March 20, a unanimous court ruled that while Montana's largest energy provider, NorthWestern Energy, did not follow the law by trying to add more renewable, local energy to its portfolio, neither the Montana Public Service Commission, nor the district court in Great Falls properly handled the case, either. Daily Montanan


Nebraska

Nebraskans for clean energy, rural development say bill would harm both

Legislative Bill 399 would require privately developed wind and solar projects to be approved by the Nebraska Power Review Board, reversing changes the Legislature made in 2016. KRVN 880 Rural Radio


Oregon

All gas companies in Oregon fail to gain approval for plans on meeting state's climate goals

All three of the natural gas companies in Oregon will have to fix their long-term plans to meet the state's targets for reducing greenhouse gas emissions. The Oregon Public Utilities Commission, which only has two members, said March 14 it could "not acknowledge" Cascade Natural Gas' plans to meet the state's greenhouse gas emissions targets by 2050. Last year, the commission, which regulates the rates charged by private electric and natural gas utilities, rejected similar plans from the two other gas utilities serving the state, NW Natural and Avista. Oregon Capital Chronicle


Texas

Exxon CEO Says Hydrogen Project at Risk Without IRA Tax Credits

Exxon Mobil Corp. won't move forward with one of the world's largest, low-carbon hydrogen projects if the Biden administration withholds tax incentives for natural gas-fed facilities, Chief Executive Officer Darren Woods said during an interview. Hydrogen Central


U.S.

3 big ways the new SEC rule will change ESG reporting

The U.S. Securities and Exchange Commission's new rule on corporate climate risk disclosure was a disappointment to those who felt it did not go far enough but it nonetheless offers clarity for companies juggling multiple international jurisdictions, sources told GreenBiz. GreenBiz


U.S.

Biden Administration Moves to Protect the Sage Grouse

It could tighten restrictions on drilling, mining and other commercial activities on public lands in the West. New York Times


U.S.

Court Temporarily Halts S.E.C.'s New Climate Rules

A federal court on March 15 temporarily halted new rules from the Securities Exchange Commission that require public companies to disclose more about the business risks they face from climate change, siding with two oil and gas companies that criticized the requirements as costly and arbitrary. The New York Times


U.S.

Court Temporarily Halts SEC's New Climate Rules

Two fracking companies had challenged requirements that some businesses disclose more information about the risks they face from climate change. New York Times


U.S.

OPINION: Biden's new energy rules must stop an existential climate threat -- Donald Trump

Biden is revising key energy and climate rules to make them more beneficial to middle-income consumers, businesses and, he hopes, swing state voters, writes Paul Bledsoe, a professorial lecturer at American University's Center for Environmental Policy. The Hill


U.S.

OPINION: Companies are missing opportunities with the IRA's clean energy tax credit incentives

If the U.S. has any chance of meeting its decarbonization goals, more companies must help support development of alternative power production by taking advantage of the opportunity to buy clean energy tax credits at a discount., experts with PA Consulting write Utility Dive


U.S.

OPINION: The miracle of nuclear energy derailed by politics

In many ways, nuclear energy and renewable energy are the inverse of each other. One is reliable and efficient, but has a terrible reputation and faces onerous government regulations. The other is unreliable and inefficient but is widely popular and receives many government advantages, the Las Vegas Review-Journal writes. MSN


U.S.

U.S. hydrogen tax credits would survive a Trump administration, say well-connected lobby groups

Trump campaign has said ex-president would seek to repeal all or significant parts of the Inflation Reduction Act if he returns to office next year. Hydrogen Insight


U.S.

How the EPA's New Emissions Rule Is Likely To Backfire

The federal government on March 20 released new rules that would cut the number of gas-burning cars sold over the next decade. While drafted with good intentions, the move could very well backfire either by asking too much too soon or by prioritizing one particular technology at the expense of viable alternatives. Reason


U.S.

Why the EPA's bold new EV rules will be able to withstand a second Trump presidency

Should Trump win a second term, overturning EPA's new tailpipe emissions rule may be difficult, largely due to massive investment in EV infrastructure, much of which has occurred in red states. Fast Company


Vermont

Bill to take Vermont to 100% renewable electricity heads to the House floor

It would make every electric utility in Vermont purchase 100% of its power from renewable resources by 2035. It would also require that a lot more of that power come from new renewable energy sources built in Vermont and New England. Vermont Public


Vermont

New analysis suggests lower price tag for changes to Vermont's renewable energy law

The analysis found that the bill is more likely to cost Vermont ratepayers between $150 million and $450 million between 2025 and 2035 -- less than half of the Department of Public Service's original figure. VTDiger


Vermont

New analysis suggests lower price tag for changes to Vermont's renewable energy law

Legislative analysis found that Vermont's renewable energy strategy is likely to cost ratepayers between $150 million and $450 million from 2025 through 2035. An earlier estimate put the cost at roughly $1 billion. VTDigger


Virginia

Democratic legislators oppose Dominion's proposed Chesterfield natural gas plant

A handful of Democratic legislators are opposed to a plan to build a natural gas power plant in Chesterfield, a proposal that Virginia's largest utility said will ensure electric grid reliability during expected surges in power demands over the next 15 to 25 years. Virginia Mercury


Virginia

Gov. Youngkin vetoes bill mandating state environmental justice council vacancies be filled

Republican Gov. Glenn Youngkin vetoed a bill March 114 that would have required that long-running vacancies on the state's environmental justice council be filled. Virginia Mercury


Virginia

Virginia Lawmakers Try to Use Budget to Rejoin RGGI -- But Success Is Questionable

State lawmakers added an amendment to the budget bill demanding the state rejoin the Regional Greenhouse Gas Initiative, but draft changes could prompt a veto from Gov. Youngkin. Inside Climate News


Washington

OPINION: Reevaluate decisions that hamper WA's clean energy future

EFSEC must assess potential impacts while finding balanced, science-based solutions that maximize renewable energy benefits while safeguarding our environment; put simply, it has failed to do so, writes former U.S. Rep. Norm Dicks. Seattle Times


Wisconsin

Evers taps Marcus Hawkins to Public Service Commission

Wisconsin Gov. Tony Evers appointed Marcus Hawkins, executive director of the Organization of MISO States, to the state Public Service Commission. Hawkins replaces Commissioner Tyler Huebner, who was fired by the state Senate. Hawkins, whose appointment is effective April 8, will serve for the rest of the term ending March 1, 2027. Wisconsin Law Journal


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