Three Numbers to Know

  • $34


    The amount of federal funding announced to strengthen the American power grid.

  • $80


    The amount of federal funding announced to clean up oil wells in Texas.

  • $15


    The amount of federal funding Maryland will receive to build 58 electric vehicle chargers across the state. 

This week in private sector news, Uber announced a partnership with Tesla to promote the use of EVs by its drivers in the U.S. as the company works toward its goal of becoming emission-free in U.S. and Canadian cities by 2030. United Rentals became the first major rental company to offer mobile microgrid battery power to its North American fleet of rental equipment. Energy storage developer Plus Power has begun operating its new facility in Hawaii, the first time a standalone battery site has provided grid-forming services at this scale, and NineDot Energy secured an astounding $225 million equity capital commitment to advance their project pipeline in the New York City area. 

A new study from Cotex found that renewable energy developers are selling unused tax credits to companies – accounting for between $7 billion and $9 billion of market worth. The money is a fresh infusion for competing renewable projects. A new report from the International Energy Agency (IEA) found that the world has added 50% more renewable capacity in 2023 than in 2022, putting the globe on track to achieve 2030 energy capacity goals.

The Biden Administration announced $34 million in funding for 12 projects across 11 states to shore-up the nation’s aging power grid. The U.S. Department of Agriculture (USDA) announced $19 million in grants to increase the availability of domestic biofuels – providing Americans with cleaner and more affordable fuel options. The Department of the Interior (DOI) announced $80 million in funding to continue oil and gas well clean-up efforts in Texas. The Bureau of Land Management (BLM) is expected to start a public scoping period to kickstart the environmental analysis on a new solar project proposal in Maricopa County that could produce 200 megawatts (MW) of utility-scale renewable energy.

Lastly, Maryland Governor Wes Moore announced that the state will receive $15M – made possible by President Biden’s Bipartisan Infrastructure Law – to install 58 new electric vehicle chargers. In Kentucky, the state’s largest utility has built its first  utility-scale wind turbine to test the potential for wind energy development. In New York, the utilities submitted plans for 13 pilot projects that will replace gas pipelines with infrastructure that can power clean, carbon-free heat pumps. 

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