Summary

Quote of the Week:

“By retrofitting homes first in low-income communities, we’ll deliver healthier air and lower utility bills to the people who need that the most,” said Rebecca Tepper, Massachusetts Secretary of Energy and Environmental Affairs. “This grant program at its core is about environmental justice— righting past wrongs and building a healthier, more equitable future.”

CLEAN ENERGY

Must Be Equitable

Massachusetts looks to decarbonize low-income housing. A new $50 million program will help fund retrofits in low-income homes across the Commonwealth to help transition the state (and its buildings) off fossil fuels. Upgrades include changing out fossil fuel heating systems for heat pumps, upgrading electrical panels, replacing drafty old windows, adding insulation, and installing solar panels on roofs. The grant program aims to reduce the cost of living, improve air quality, and reduce carbon emissions from buildings, which account for 30 percent of the state’s climate pollution. (WBUR)

CLEAN ENERGY

Has Many Benefits

Offshore wind drives tourism. While offshore wind opponents commonly claim that turbines on the ocean horizon will drive tourists away from shorelines, a new tourism industry shows the opposite is true. Tours of offshore wind farms are already underway in the U.K., Denmark, and the U.S., including around the Block Island wind farm in Rhode Island. While some of these tourists are academics hoping to learn more about clean energy, many are average pleasure-seekers who see offshore wind farms as an interesting addition to their vacation itineraries. Overall, studies show that the effects of offshore wind development on local tourism industries are either insignificant or even marginally positive. (Bloomberg $)

CLEAN ENERGY

Is Affordable

Used EV prices keep dropping. The $4,000 federal tax credit from the Inflation Reduction Act for qualifying used EVs is helping transform the used car market. With used car prices declining, more EVs are being priced under $25,000 to qualify for the credits — bringing EVs more within reach for the American consumer. Last July the average used EV sold for over $42,000, but by January it had dropped to less than $33,000. As more EV models hit the market and mass production brings costs down, used car dealers expect used EVs to keep getting more affordable. (Bloomberg $)

CLEAN ENERGY

Is A Good Investment

Offshore wind spurs $4 billion investments in New York. With offshore wind gaining momentum in the Empire State, local businesses are getting a boost thanks to contract agreements with state authorities to use in-state supply chains. While Europe’s offshore wind industry is more mature and has stronger supply chains already built up, the high cost of importing parts across the Atlantic is encouraging U.S. wind developers to build out supply chains closer to the development sites. (Newsday $)

IRA is building up the U.S. EV industry. Ford recently announced its latest $3.5 billion EV plant will be located in Michigan — a sign that the Inflation Reduction Act is succeeding at incentivizing companies to invest in U.S. supply chains. Experts say those federal incentives come at a pivotal moment for the auto industry as it shifts to electric vehicle production before mature supply chains have been developed. Companies like Ford and Tesla are also slashing sticker prices on their EV models to make them eligible for federal tax credits, which industry leaders say will be important for growth in the coming years. (The Detroit News)

CLEAN ENERGY

Is Challenging

To meet climate goals, the grid needs transmission upgrades. Aging transmission lines with limited capacity are a major bottleneck for bringing online the clean energy we need to decarbonize. On top of their age, many existing transmission lines are concentrated near cities where fossil fuel power plants have historically been located. Shifting to renewable resources like wind and solar—typically located in more rural areas—requires new transmission to be built to move energy from the power source to the demand centers like cities. While upgrades can be costly, experts affirm that these investments will lower costs in the long-run and help make the grid more resilient. (CNBC)

MULTIMEDIA

Video: How an autonomous train-bus hybrid could transform city transit