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A solar farm in California. Photo: Sam Lafoca/Construction Photography/Avalon/Getty Images

The Interior Department announced Monday that it has approved a massive solar energy project on California's public lands.

Why it matters: The $550 million project will produce enough energy to power nearly 90,000 homes.

  • The plant will be built on over 2,000 acres of public land.

What they're saying: "The time for a clean energy future is now. We must make bold investments that will tackle climate change and create good-paying American jobs,” Secretary Deb Haaland said in the statement.

  • “Projects like this can help to make America a global leader in the clean energy economy through the acceleration of responsible renewable energy development on public lands.”

Go deeper

Scoop: Biden taps Russia hawk for key energy post

Then-Vice President Biden with Hochstein at the Caribbean Energy Security Summit in 2015. Photo: Brendan Smialowski/AFP via Getty Images

President Biden has appointed close former adviser Amos Hochstein as a State Department energy envoy charged with implementing a U.S.-Germany deal allowing the Nord Stream 2 pipeline to be completed, sources familiar with the decision tell Axios.

Why it matters: Hochstein has been a leading voice against Nord Stream 2, a strategic and financial priority for the Kremlin that will allow Russia to bypass Ukraine and deliver gas directly to the heart of Europe.

Why 401(k) rollovers are so annoying

Illustration: Aïda Amer/Axios

If you happened to change jobs recently, you may have tried to transfer your retirement account from your former employer into an Individual Retirement Account or your new employer's 401(k) plan. If so, you probably encountered a bureaucratic gantlet — and you're not alone.

Why it matters: Kludgey processes around retirement account transfers result in people losing track of their funds, giving up important tax advantages, or otherwise disadvantaging themselves and being less prepared for retirement.

The hard math behind America's labor shortage

Data: Bureau of Labor Statistics, Congressional Budget Office; Chart: Axios Visuals

Yes, the pandemic has created unusual temporary labor market dynamics. But in the bigger picture, the 2010s were a golden age for companies seeking cheap labor. The 2020s are not.

The big picture: In the 2010s, the massive millennial generation was entering the workforce, the massive baby bo0m generation was still hard at work, and there was a multi-year hangover from the deep recession caused by the global financial crisis.