THIS WEEK IN CLIMATE & CLEAN ENERGY WINS: WEEK OF 6/9/23:

In a banner week for private sector investments, NJR Clean Energy Ventures completed the largest floating solar farm in North America, Clean Vision Corp is building a West Virginia facility expected to bring in capital investments of over $50 million to the state in the next three years, and CleanCapital secured $500 million and LightSource BP completed a  a $460 million financing package – both towards solar power construction. General Motors reached $1 billion in investments for EV battery production in North America, and thanks to tax incentives from the Inflation Reduction Act, Tesla’s Model 3 EV will now be cheaper than a Toyota Camry. 

Data from a Solar Energy Industries Association (SEIA) report showcased US solar industry expansion, with domestic capacity increasing by 47% since last year.The International Energy Agency (IEA) released an analysis that projects investments in energy efficiency to rise another 50% according to policies. The Center for American Progress (CAP) found that proposed conservation leasing policies could expand domestic clean energy opportunities while benefiting taxpayers and addressing restoration needs. 

The Biden Administration continues to celebrate clean energy incentives from the Inflation Reduction Act, protected under the debt deal passed last week. The Department of Energy (DOE) announced $80 million in grant funding to expand domestic manufacturing,  improving energy efficiency. The DOE also announced the first US clean hydrogen strategy to accelerate the sector’s expansion, which is projected to create 100,000 net new direct and indirect jobs by 2023. The White House launched an online platform highlighting public and private investments in clean energy. The Bureau of Land Management (BLM) announced the start of construction on a renewable energy battery storage facility in the California desert, which will provide up to 300 MW of additional storage capacity and increase clean energy reliability amid worries around summer electricity blackouts.

The first new U.S. nuclear reactor in more than 40 years is now up and running in Georgia. This reactor is expected to reduce the state’s carbon emissions from electricity generation by 5 to 10 percent.  On the opposite side, new data from the California Energy Commission reveals the state has increased its battery storage twentyfold since 2019. This unique storage is essential to support California’s electrical grid. In Wisconsin, Realta Fusion Inc. was awarded $12 million to develop fusion energy technology for industrial heat and power, and in Oregon, Talent Middle, and Elementary schools received a $1 million grant to install solar panels.

Private Sector

• NJR Clean Energy Ventures is set to launch the largest floating solar farm in North America. [Electrek, 6/7/2023]
  • The 8.9 MW project consists of 16,510 solar panels, and the clean power they generate is enough to power 1,400 homes annually. 
• Clean Vision Corp plans to build its next facility in West Virginia for converting recycled plastics into clean fuels. [WOWK, 6/7/2023]
  • The facility is set to be completed in 2024, and will be able to convert plastic to clean energy at a rate of 100 tons per day. 
  • The project is also expected to bring in capital investments of at least $50 million to the state over three years. 
• Xcel Energy will build three solar energy facilities in southeast New Mexico and Texas. [Carlsbad Current-Argus, 6/8/2023]
  • The plants will augment existing natural gas plants in Hobbs and in Earth, Texas.

• CleanCapital secured $500 million to build two solar and storage portfolios.  [Renewable Energy World, 6/7/2023]
  • The latest investment builds on a $300 million commitment to CleanCapital in 2021, which the company is using to build and operate two solar and storage portfolios totaling 63 MW.
• Lightsource BP completed a $460 million financing package to construct 368 MW of solar power. [PVTech, 6/2/2023]
• Orsted announced a partnership with Solarcycle to process and recycle Orsted’s end-of-life solar modules from its projects across the U.S. [American Journal of Transportation, 6/6/2023]

• General Motors’s investments reached  $1 billion for EV battery production in North America. [Electrik, 6/2/2023]
  • The new funding will help increase Cathode active material (CAM) production and the precursor materials (pCAM) needed to produce it. 
• With tax incentives from the Inflation Reduction Act, Tesla’s Model 3 EV will now be lower in price than a Toyota Camry. [Reuters, 6/6/2023]
  • The Biden administration on Tuesday confirmed that all Tesla Model 3 vehicles now qualify for $7,500 electric vehicle consumer tax credits. 
• National Grid is launching an innovative solar energy project in Central New York. [Spectrum News, 6/6/2023]
  • “To our knowledge, it’s the first solar plus storage system providing a non-wires alternative in the United States, which is truly a remarkable achievement and one that we’re incredibly proud of,” said Frank Genova, COO of Convergent Energy and Power.
• LowCarbon and Ocean Green Hydrogen are investing over $100 million in a new clean hydrogen plant in Florida. [Florida Politics, 6/6/2023]
  • The first of its kind in the region, the project is expected to bring cutting-edge clean hydrogen technology to Florida.

New Reports 

• IEA released a new analysis that projects efficiency-related investment will rise another 50% this year according to expected and announced policies. [IEA, 6/7/2023]
  • The report was released in tandem with IEA’s 8th annual global energy efficiency conference, hosted by France’s Minister for Energy Transition Agnès Pannier-Runacher and IEA Executive Director Fatih Birol.
• According to a Solar Energy Industries Association (SEIA) report, the US solar industry increased capacity by 47% in the last year. [SEIA, 6/8/2023]
  • Utility-scale solar installations were up 66% compared to the first quarter of 2022. This was the strongest first quarter for the solar industry on record. 
• A CAP report found that BLM’s proposed conservation leasing policy could expand clean energy development. [Boise Public Radio, 6/7/2023]
  • Conservation leasing would allow public lands to benefit from project developers’ mitigation projects, benefiting taxpayers and addressing urgent restoration needs. 

Biden Administration 

• DOE announced $80 million in grant funding to expand domestic manufacturing,  improving energy efficiency to lower costs and reduce industrial emissions. [DOE, 6/7/2023]
• • The initiative’s goal is to help small- and medium-sized manufacturing firms (SMMs) to accelerate the adoption of recommendations made by DOE to increase efficiency.
• DOE announced the first US clean hydrogen strategy to accelerate production and application. [DOE, 6/5/2023]

• Clean hydrogen can be produced with low or zero carbon emissions, while the sector can potentially add 100,000 net new direct and indirect jobs by 2023.

State-Level  

• Talent Middle and Elementary schools in southern Oregon have secured a $1 million grant to install solar panels, making the schools one of the first community hubs for natural disasters in the state. [KDRV, 6/6/2023]
• The first new nuclear reactor built in the United States in more than 40 years is now up and running in Waynesboro, Georgia. [Grist, 6/6/2023]
  • Plant Vogtle Unit Three, the first of two new reactors at the site, started producing power at full capacity in May. It’s expected to come online this month after a final round of tests.
  • According to Georgia Tech professor Marilyn Brown, who tracks the state’s emissions, once both units are online, Georgia’s overall carbon emissions from electricity generation are expected to drop by 5 to 10 percent.
• Backed by $12 million from a well-known Silicon Valley venture firm and the U.S. Department of Energy, a new company in Madison, Wisconsin, is developing fusion energy technology for industrial heat and power. [Wisconsininno, 6/5/2023]
  • Realta Fusion Inc. is working to commercialize fusion energy as a clean power source to help achieve global net-zero greenhouse gas emission targets.
• According to new data from the California Energy Commission, the state has increased its battery energy storage twentyfold since 2019 – enough to power 5 million California homes. By 2045, the state hopes to install enough storage to power 50 million homes. [E&E News, 6/5/2023]
  • This storage is critical to avoiding blackouts during California’s transition from fossil fuels.