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Your weekly intelligence on Decarbonization Policy and Impacts
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Permitting is always a topic of interest to NetZero Insider readers and reporters, and it provided some good stories this week on how federal, state and local officials are wrestling with how to speed it up while ensuring thorough reviews and community engagement.


James Downing tackled the Council on Environmental Quality’s final rule updating reviews under the National Environmental Policy Act, with provisions that set clear deadlines for completing these often complex reviews and allow for more projects to qualify for faster “categorical exclusion” reviews. 


New York’s Office of Renewable Energy Siting was established to speed up state-level permitting. But our John Cropley reports that a new audit has found a conflict between the time the office takes to permit a project once its application is complete — less than a year — versus the three years, eight months it can take a project to go from first application to final approval. 


The Department of Energy sees a big role for artificial intelligence in streamlining and speeding up permitting by identifying and consolidating the information developers will need across federal, state and local permitting processes, according to K Kaufmann’s rundown of DOE’s two new AI for Energy reports


We also are tracking the efforts of state public utility regulators to find the right balance for planning and developing local systems that provide increasingly clean, reliable and affordable energy. 


The Massachusetts Department of Public Utilities is on a tight deadline to decide whether to increase natural gas rates to ensure a major LNG import terminal in the state stays in operation, New England reporter Jon Lamson writes. 


K also listened in on Exelon’s first-quarter earnings call, where CEO Calvin Butler said Commonwealth Edison is laser-focused on winning approval of its revised integrated grid plan after the Illinois Commerce Commission rejected its original plan last year. 


Butler also said the company is seeing opportunities ahead with demand growth from data centers, but a Stateline report in our curated content finds that states — including Georgia, South Carolina and Virginia — are now looking at the impact of these kilowatt-hour guzzlers that, according to one study, could double U.S. power demand by 2030. 


Microsoft is looking to power its growing fleet of data centers with 10.5 GW of new renewable power via a record-breaking contract with Canadian firm, Brookfield Asset Management, according to Renewable Energy World. 

On the financial side, a number of stories this week follow the money ― or lack thereof ― in federal and state policy making, with the November election just six months away. 


A coalition of more than 40 clean energy companies, trade associations and nonprofits have called on Congress  to include “robust” funding for transmission in the 2025 federal budget, according to an announcement from the American Council on Renewable Energy, which is one of the group’s leaders. The group’s wish list, sent to the House and Senate appropriations committees, includes close to $5.5 billion in additional money spread across different DOE initiatives. 


Inside Climate News reports on the potential impact of Florida Gov. Ron DeSantis’ decision to turn down millions of federal dollars from the Inflation Reduction Act to develop and implement a climate action plan, despite the state’s multiple vulnerabilities to climate impacts, from extreme heat and hurricanes to sea level rise. 


Finally, Capital & Main drills into oil and gas companies’ political donations ahead of the upcoming election, reporting that so far, the industry’s financial backing for Republicans has been close to seven times more than its support for Democrats: $25 million to $3.6 million. 


All that and more, in this week’s Intelligence Report:


Jump To

Finance & Investing
Impact & Adaptation
Policy & Politics

 
 

Finance & Investing

Hawaii

Lawmakers Rejected A Bill To Bail Out HECO. Now What?

Hawaiian Electric Co. is seeking expedited regulatory approval to sell utility assets to obtain a $250 million line of credit to improve its financial stability. Civil Beat


International

Citi achieves $441B of $1T sustainable finance 2030 goal with renewables a 'major driver': report

Citigroup has financed and facilitated $441.2 billion toward sustainable finance four years into a goal to invest $1 trillion in the sector by 2030, the bank said in its 2023 ESG Report. ESG Dive


International

Microsoft and Brookfield to develop 10.5 GW of renewables in 'largest ever' corporate PPA

The agreement is meant to contribute to Microsoft's goal of having 100% of its electricity consumption matched by zero-carbon energy purchases by 2030, with the demand for cloud services growing. Renewable Energy World


International

The world agreed to create a climate reparations fund. Now comes the hard part.

This week, a 26-member board is meeting for the first time to discuss the administrative and institutional policies required to operationalize the fund and dole money out to developing countries in need. Grist


U.S.

Coalition Calls for Robust Funding for Transmission in FY 2025 Budget

In a joint letter to Congress, a diverse coalition of more than 40 national and regional organizations and companies requested robust funding for electric transmission deployment and research in the Department of Energy's fiscal 2025 budget. ACORE


U.S.

DOE announces $27M in grants to install batteries, EV chargers, efficiency retrofits

The U.S. Department of Energy has announced almost $27 million in grants to 37 state, local and tribal governments to install electric vehicle chargers, battery storage, energy efficiency retrofits and other clean energy projects. Utility Dive


U.S.

How to put corporate capital behind climate commitments

The number of companies with science-based emissions reduction goals grew 500% since 2018, but corporate finance supporting those goals is increasing only 5% annually. GreenBiz


U.S.

IRS issues final guidance for IRA's clean energy tax credit transferability mechanism

The U.S. Department of the Treasury and the IRS issued final rules recently for the tax credit transferability mechanism included in the Inflation Reduction Act, offering clarity to the already active tax credit market. Utility Dive


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Impact & Adaptation

International

Increasingly Frequent Ocean Heat Waves Trigger Mass Die-Offs of Sealife, and Grief in Marine Scientists

Heat waves recently extended across nearly 30% of the world's oceans, an expanse equivalent to the surface area of North America, Asia, Europe and Africa. Inside Climate News


International

What Makes a Society More Resilient? Frequent Hardship.

Comparing 30,000 years of human history, researchers found that surviving famine, war or climate change helps groups recover more quickly from future shocks. The New York Times


Heat Waves

U.S.

A New Federal Tool Could Help Cities Prepare for Scorching Summer Heat

NOAA and the CDC teamed up to create "HeatRisk," a tool that can forecast potentially threatening heat up to a week in advance. Inside Climate News


Wildfires

Texas

Decayed power pole sparked the largest wildfire in state history, Texas House committee confirms

A lack of air support and ineffective coordination hurt efforts to contain this year's Panhandle fires, the committee said. Texas Tribune


Texas

Xcel Energy named in 15 lawsuits over 2024 Texas panhandle fires

Xcel Energy has been named in 15 lawsuits in connection with the Smokehouse Creek Fire in the Texas Panhandle, which burned more than 1 million acres in March. Company leaders acknowledged that power lines owned by Xcel Energy appear to have played a role in igniting the fire during a first quarter earnings call April 25. Utility Dive


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Policy & Politics

Connecticut

CT House Democrats push climate change measure after electric car mandate fails

Unable to pass mandates for electric cars, the state House of Representatives has approved substitute steps in a high-priority bill on climate change that provides incentives for alternative energy like solar power and electric heat pumps. Hartford Courant


Florida

Florida Says No to Federal Funding Aimed at Greenhouse Gas Emissions

Florida may be "ground zero" for climate change, but some environmentalists see the DeSantis administration's rejection of the money as a partisan move. Inside Climate News


International

Exxon Criticized ICN Stories Publicly, But Privately, Didn't Dispute The Findings

After Inside Climate News' 2015 stories on ExxonMobil's research confirming fossil fuels' role in global warming, the oil giant called the reporting "misleading," but internally, Exxon's communications team grappled with how to respond when "we actually don't dispute much of what these stories report," per documents newly released by congressional Democrats. Inside Climate News


International

Mexico proudly controls its energy but could find it hard to reach its climate goals

Mexico continues to be one of the world's biggest oil producers. None of the candidates are talking about reducing that. The Hill


International

The world agreed to create a climate reparations fund. Now comes the hard part.

A 26-member board is finally beginning work on the UN's new loss and damage fund. Grist


Maine

Maine prepares young people for climate change-related jobs, activism

State officials in Maine are preparing the next generation for climate change-related activism and careers. A new state-run website helps young Mainers find ways to use their own talents and interests to counter any climate anxiety and work to build the state's climate resilience. Public News Service


Montana

Montana Public Service Commission extends comment deadline for climate petition

Montanans have flooded the Public Service Commission with more than 500 comments on a petition that would require regulators to consider the effects of climate change in their decisions. Daily Montanan


U.S.

EPA's New Power Plant Rule Will Cause Catastrophic Energy Scarcity

The new standards will be virtually impossible for electrical utilities to meet. The Energy Information Administration expects virtually all coal plants -- from which Americans get 16% of their electricity -- to shut down by 2032 under the rule. RealClear Energy


U.S.

Five Major Climate Policies Trump Would Probably Reverse if Elected

He has called for increased oil production and said that electric vehicles will result in an "assassination" of jobs. The New York Times


U.S.

How Abrupt U-Turns Are Defining U.S. Environmental Regulations

The polarization of politics means that rules are imposed, gutted and restored with each election. Experts say that's bad for the economy. The New York Times


U.S.

Nixon Advisers' Climate Research Plan: Another Lost Chance on the Road to Crisis

A 1971 plan for a global carbon dioxide monitoring network never came to fruition. The proposal is detailed in a document newly unearthed by the National Security Archive. Inside Climate News


U.S.

OPINION: I'm a Young Conservative, and I Want My Party to Lead the Fight Against Climate Change

Conservatives might have disengaged from the issues over the past several decades, but voters often tell me they're ready to jump back into the conversation. After all, as farmers, ranchers, foresters or just people who enjoy hunting and fishing, many conservatives have a stake in the health of their environment, writes Benji Backer, founder and executive chairman of the American Conservation Coalition. The New York Times


U.S.

States rethink data centers as 'electricity hogs' strain the grid

State Sen. Norm Needleman, who championed the 2021 legislation designed to lure major data centers to Connecticut, is now wondering if those tax breaks are appropriate for all data centers, especially those with the potential to disrupt the state's clean energy supply. Virginia Mercury


U.S.

The IRA's Impact on Tax Credits, Tax Equity, and Renewable Energy

Tax attorney Lauren Collins provides information and insight about the multiple ways the IRA is supporting renewable energy, and the way developers can ensure they take best advantage of government incentives, through tax credits, tax equity, and more. Power


U.S.

U.S. oil and gas production is booming. So are the industry's donations to its GOP allies

The oil and gas sector is booming under the Biden administration, due less to government policy and more to global factors. And oil and gas companies are contributing more than seven times as much money to Republican candidates and conservative groups as to Democrats and liberal groups, according to Open Secrets. Capital & Main


Virginia

OPINION: Virginia can still meet clean energy goals

Following the General Assembly's failure either to rein in the explosive growth of power-hungry data centers or to remove obstacles to increasing the supply of renewable energy in Virginia, a lot of people are wondering where we go from here, writes Ivy Main, the Sierra Club's renewable energy chairperson. Virginia Mercury


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