This Week in Climate & Clean Energy Wins: Week of 8/14/23
The amount Stellantis invested in a direct lithium extraction company to increase its access to U.S. lithium.
The projected amount of investments in the U.S. clean energy industry as a result of the Inflation Reduction Act.
The amount President Biden’s clean energy plan could save Americans on their electricity bills in the next 7 years.
Stellantis, an automaker, has pledged $100 million towards California’s Controlled Thermal Resources in an effort to mine lithium for EV batteries. In other private sector news, GM is making a $60 million investment to speed the development of cheaper, simpler EV batteries. The announcement comes as the company extends the Chevy Bolt EV production, on track to produce 70,000 EUV models this year. Finally, Maxeon will bring a new billion-dollar solar factory to New Mexico, expected to create up to 1,800 direct, permanent jobs.
According to new research from Goldman Sachs, the Inflation Reduction Act is projected to spur $3 trillion investment in clean energy technology – potentially generating more than twice the amount of energy produced by the shale revolution. The Department of Energy (DOE) released a new report, finding that President Biden’s clean energy plan could save Americans between $27 billion and $38 billion on their electricity bills in the next seven years. Since the passage of the Inflation Reduction Act, 155 gigawatts of new production capacity across the solar supply chain has been announced. Experts project this number to quadruple in a decade – generating enough solar energy to power every home east of Mississippi. Nonprofit leaders praise the Inflation Reduction Act’s direct payments provision, which will expand new opportunities for clean energy growth in cities, public utility, and rural co-op – boosting community ownership. After a summer of intense electric demand due to record-breaking heat, experts are crediting renewables for the reliability of the U.S. power grid. They project that this year, wind and solar will generate 16% of U.S. electricity, further diversifying the grid and growing power capacity.
The Environmental Protection Agency (EPA) announced a $13 million grant to the Deep South Center to help expand access to the historical funding in President Biden’s clean energy plan to underserved communities. The funding aims to provide opportunities that advance energy justice objectives. The EPA also announced $11 million in funding for energy transition research at 11 institutions. The goal of the research projects is to learn the environmental impacts of the clean energy transition in underserved and Tribal communities. The Department of the Interior launched a new program with more than $72 million in available funding to expand energy access in Tribal communities.
Lastly, Georgia officials are considering deploying hydrogen fueling stations across the state to power commercial vehicles, tractor-trailers, and other large trucks. Also, in Georgia, First African Baptist Church is taking steps to become one of the first Black churches in the state to produce its own electricity. Pennsylvania’s Department of Transportation recently announced the first recipients of federal money for electric vehicle charging stations from the Bipartisan Infrastructure Law.
- GM announced they will extend production of the Chevy Bolt EV. [Electrek, 8/14/2023]
- GM is on track to produce 70,000 Chevy Bolt EV and EUV models throughout the year.
- GM is making a $60 million investment to speed the development of cheaper, simpler EV batteries. [Engadget, 8/16/2023]
- The company’s latest financing round goes to Mitra Chem – a company focused on building batteries in the U.S. using iron-based cathodes.
- “This is a strategic investment that will further help reinforce GM’s efforts in EV batteries, accelerate our work on affordable battery chemistries like LMFP and support our efforts to build a US-focused battery supply chain,” said GM VP Gil Golan.
- Maxeon laid plans to bring a new billion-dollar solar factory to New Mexico, expected to create up to 1,800 direct, permanent jobs. [Reuters, 8/10/2023]
- Stellantis said it would invest more than $100 million in California’s Controlled Thermal Resources, a lithium extraction company. [Reuters, 8/17/2023]
- Stellantis also agreed to nearly triple the amount of lithium it would buy from Controll Thermal.
- The Inflation Reduction Act is projected to spur $3 trillion investment in renewable energy technology, which could double the amount of energy produced by the shale revolution 15 years ago. [Goldman Sachs Research, 8/16/2023]
- Incentives from the historic law will create the most supportive regulatory environment in clean tech history.
- President Biden’s clean energy plan is saving Americans $27 billion – $38 billion on their electricity bills and strengthening U.S. energy security by reducing crude oil imports. [DOE, 8/16/2023]
- The plan is also helping to cut net U.S. greenhouse emissions, making significant progress toward the Biden Administration’s climate targets.
- Since the passage of the Inflation Reduction Act, 155 GW of new production capacity has been announced across the solar supply chain, with 4 times that amount projected to be installed by 2033. [SEIA, 8/14/2023]
- If installations remain on track, in 10 years there will be enough solar power installed to power every household east of the Mississippi.
- Nonprofit leaders are calling the Inflation Reduction Act a game-changer as direct payments incentives expand new opportunities for clean energy growth and boost community ownership. [Canary Media, 8/15/2023]
- This provision could fuel untapped decarbonization initiatives in key areas like cities, public utilities and rural electric cooperatives.
- Renewables are to thank for the nation’s electric grid holding strong amid a summer of record-breaking extreme heat. [USA Today, 8/14/2023]
- It’s projected that 16% of U.S. electricity will be generated by wind and solar power sources this year, further diversifying and strengthening the grid.
- EPA announced a $13 million grant to the Deep South Center for Environmental Justice to help underserved communities access historic funding in the Biden Administration’s clean energy plan. [EPA, 8/15/2023]
- In partnership with DOE, the initiative identifies opportunities for clean energy transition and financing options that advance energy justice objectives.
- EPA announced $11 million in grants to 11 research institutions to address the drivers and environmental impacts of energy transitions in underserved and Tribal communities. [EPA, 8/14/2023]
- Grantees will engage with community members who have live experience and expertise regarding their energy needs.
- DOI announced the launch of a new program and the availability of $72.5 million in initial funding to help Tribal communities electrify their homes. [DOI, 8/15/2023]
- This funding is part of a $150 million investment from the Inflation Reduction Act to support the expansion of energy access in Indian Country.
- According to a request for information from the Georgia Department of Transportation, state officials are considering deploying hydrogen fueling stations across Georgia to power commercial vehicles, tractor-trailers, and other large trucks. [The Daily Item, 8/9/2023]
- If implemented, this hydrogen highway will likely cover a 23-mile stretch of Interstate 16 that connects Hyundai Motor Group’s now-under-construction electric vehicle plant and the Port of Savannah.
- In Georgia, First African Baptist Church is taking steps to develop a micro-grid that will include solar PV, electric vehicle charging stations, battery storage, and energy efficiency upgrades. [GPB News, 8/15/2023]
- It could be among the first Black churches in Georgia to produce its own electricity.
- Pennsylvania’s Department of Transportation recently announced the first recipients of federal money for electric vehicle charging stations from the Bipartisan Infrastructure Law. [Clean Technica, 8/15/2023]
- The announcement included rough locations for the chargers, funding amounts, and who the recipient was.