"[The Midwest Independent System Operator’s new transmission plan] is going to unleash clean energy. The regional transmission lines will start to expand those energy highways and allow more clean energy to come online — and there’s a lot of clean energy waiting to come online, because it’s cheaper, businesses want it, governments want it,” said Toba Pearlman, senior attorney at the Natural Resources Defense Council.
CLEAN ENERGY
Must Be Equitable
The EV revolution must be unionized. As the U.S. auto industry accelerates its shift to electric vehicles, auto worker unions are focused on ensuring that it doesn’t come at the cost of union jobs. Ray Curry, President of the 372,000 member United Auto Workers union, outlined the need to unionize new EV technology supply chains like battery plants. Because EVs require fewer components and assembly inputs than combustion vehicles, the UAW will have to unionize other parts of the EV supply chain to preserve membership. (Associated Press)
CLEAN ENERGY
Is A Good Investment
Porsche expects higher profits in EVs. As it prepares for its IPO, Porsche is signaling its expectations to be more profitable selling electric cars than gas-powered models. Porsche’s CFO told investors he believes the margins for its EV offerings will reach parity with its combustion vehicles within two years. By 2030, Porsche expects 80 percent of the cars it sells will be electric. (Bloomberg $)
Biden expands offshore wind in the Gulf. The Biden administration will open roughly 700,000 acres of federal waters in the Gulf of Mexico for offshore wind development, Reuters reports. The announcement is part of the administration’s push to grow the domestic offshore wind sector — which is a centerpiece of his decarbonization plan — and transition the oil and gas-dominated Gulf region into a clean energy hub. The Washington Post also reports that the oil and gas industry sees offshore wind as an opportunity to transition workers, saying there are many similarities and transferable skills between their business and the offshore wind sector. (Reuters, Washington Post $)
CLEAN ENERGY
Is Replacing Fossil Fuels
Midwest preparing power grid for renewable energy. The Midwest’s electrical grid operator approved a $10.3 billion plan for new transmission as part of its efforts to build a more connected and nimble energy system. The plan includes 18 projects amounting to 2,000 miles of new transmission lines — making it the largest portfolio of long-range transmission in U.S. history for a regional power organization. The new transmission capacity is critical to ensure grid stability and allow more clean energy to come online. (Detroit Free Press)
Energy Department lends G.M. $2.5 billion for battery factories. The Energy Department loan will support the joint venture between the automaker and South Korean battery maker LG Energy in developing new battery manufacturing facilities in Ohio, Tennessee, and Michigan. The move is part of the Biden administration's latest efforts to shore up U.S. clean energy supply chains and reduce reliance on China. The factories are expected to create 5,000 long-term jobs and the Ohio factory is set to begin producing batteries this year. (New York Times $)
CLEAN ENERGY
Is Challenging
Utilities are shifting to clean energy… slowly. Although nearly every major utility in the U.S. has committed to shifting to clean energy, the timeline remains challenging. While utilities have committed to net-zero targets and begun investing in renewables and battery storage, global supply chain crunches have raised costs and delayed deployments. Utilities say they want to prioritize affordability and reliability, which has led them to hold onto their gas and coal plants to provide backup power. (Canary Media)
