A new study explores how the U.S. power sector evolved on a much lower carbon path than analysts were projecting about 15 years ago.
Why it matters: The Lawrence Berkeley National Laboratory report is a reminder about the limits of our ability to look into the energy future. But it also shows that while energy transitions are generally slow, that's not some ironclad law of nature.
Private equity investments in U.S. renewables hit a record $23.7 billion last year, per a new report on deals from American Investment Council, which is the industry's lobbying and advocacy arm.
Where it stands: "PE invests in renewable energy in two major ways: buying and expanding established power generators and increasing their production over the long term, and financing development costs for new renewable power companies," it states.
The Treasury Department estimates its plan to end subsidies for fossil fuel companies would bring in over $35 billion in federal revenue over 10 years.
Driving the news: "The main impact would be on oil and gas company profits. Research suggests little impact on gasoline or energy prices for U.S. consumers and little impact on our energy security," officials said in a report on the wider White House tax policy proposal.
New data shows both the promise and peril of the White House push to speed deployment of renewables while also accelerating the transition away from fossil fuels.
Driving the news: A report on energy industry wages across sectors shows that they're far above the national median and more likely to provide healthcare and retirement benefits than the national average.
The annual solar energy capacity installed in Colorado is expected to more than double this year and continue to reach new heights in the future, a new report shows.
Why it matters: The new installations are resetting the energy landscape as the state moves toward the goal of 100% renewables by 2040.
The U.S. currently lags way behind Europe and China in offshore wind, a fact the Biden administration hopes to change with plans to spur the development of 30 gigawatts of offshore U.S. wind generating capacity by 2030.
Why it matters: While several big commercial-scale projects along the Atlantic Coast are already in the works, there's only one small project in operation off Rhode Island as of now.
President Biden's attempt to steer huge energy infrastructure plans through Congress and his wide-ranging executive agenda are together creating intense lobbying and advocacy efforts to shape the policies.
Why it matters: The new proposal for an energy infrastructure package is vastly larger than the roughly $90 billion for clean energy in the 2009 stimulus, and the constellation of interests in play is huge.
New Mexico Sen. Ben Ray Luján (D) said at an Axios event Tuesday that diversifying New Mexico's economy will create "homegrown" opportunities, providing a different type of job security for workers who rely on oil and gas industries.
Why it matters: Politicians have sparred over environmental justice and its impact on workers in the oil and gas industries. But even major oil and gas producers across the U.S. are making changes now, Luján said, which means New Mexico needs to move fast about planning for the future.
The White House rolled out initiatives Monday aimed at jump-starting the development of large offshore wind farms that together would power over 10 million homes.
Why it matters: The target of 30 gigawatts of generating capacity by 2030 would go well beyond the big projects already on the drawing boards.
New analysis shows how wind and solar growth are helping to displace coal-fired generation, but not nearly enough to slash overall emissions from electricity at a time of generally rising global demand.
Driving the news: Last year, a 15% rise in wind and solar generation combined with the pandemic briefly halting power demand growth led to a record drop in coal-fired output, the environmental think tank Ember said.