This Week in Climate & Clean Energy Wins: Week of 10/16/23


$1 Billion$1.8 Billion$3.5 Billion
The amount invested in a new hydrogen hub in Michigan. The amount raised by Plus Power LLC to fund standalone battery storage that will accommodate more solar and wind energy systems. The amount of federal funding announced to bolster clean energy systems powering the U.S. grid.

This week in private sector news, NovoHydrogen received a $20 million equity commitment from Modern Energy to continue leading the development of clean hydrogen. Perch Energy secured $30 million to expand its solar development services from investment company Nuveen, and Plus Power LLC raised $1.8 billion in funding for standalone battery storage that will stabilize the U.S. electrical grid and accommodate more solar and wind energy. 

New third-quarter numbers show that the U.S. experienced a 0.4% increase in electric vehicle manufacturing – signaling above-average performance. Additionally, banks are generating more revenue from loans to clean energy projects than fossil fuel projects. A report from the National Academies of Sciences, Engineering, and Medicine provides guidance to policymakers on how the U.S. can achieve net-zero emissions by 2050 with investments from federal initiatives like the Inflation Reduction Act. Recommendations include bans on new gas lines, more vital reduction targets for industrial sectors, workforce training, and financial market reforms. Rhodium Group and the Massachusetts Institute of Technology showed that U.S. clean energy investment rose 37% over the last year. Biden-era economic incentives are largely responsible for this growth. 

This week, on the Investing in America Tour, U.S. Secretary of Energy Jennifer Granholm visited West VirginiaGeorgia, and Pennsylvania to spotlight how Biden’s economic policies are building clean communities and creating thousands of good-paying jobs across the nation. On Tuesday, the Biden Administration approved stricter pollution rules for commercial ships in California – home to the largest ports in the country. The new Environmental Protection Agency (EPA) rules will take effect in about a month. The Biden Administration launched a $3.5 billion initiative to improve the resilience of clean energy systems powering the American electric grid. The Department of Justice (DOJ) announced that their Environment and Natural Resources Division (ENRD) is bringing in three key attorneys general to translate federal environment justice strategy into action to fight emissions and pollution in the vulnerable communities they represent. The strategy is a key pillar of President Biden’s climate plan.

Lastly, Michigan is building a new $1 billion clean hydrogen hub that expects to bring thousands of jobs to the state. In California, Governor Newsom signed into law two new rules requiring companies doing business in California to track and report nearly all of their greenhouse gas emissions. In Nevada, Las Vegas will receive $15 million from the Inflation Reduction Act to add more trees and green spaces in the fight against climate change. In New York, the Federal Highway Administration approved plans to invest funding from the National Electric Vehicle Infrastructure Program in installing and operating additional fast electric vehicle (EV) charging stations, clearing the way for the state’s next EV charging allotment of $37.4 million. In Pennsylvania, the Appalachian Regional Commission awarded Catalyst Connection $10 million to support Pittsburgh’s small and mid-sized manufacturing companies  transitioning to green manufacturing. 

Private Sector

New Reports

Biden Administration