GHG Emissions, Regulation, Sourcing Renewables - March 18, 2023
Weekend Reads: The IRA's Clean Energy Gold Mine; Defining Green Hydrogen
It's the weekend! Kick back and catch up with these must-read articles from around the web:
Treasury Department guidance urgently needed to tap IRA’s clean energy ‘gold mine,’ analysts say (Utility Dive) Federal clean energy supports in the August 2022 Inflation Reduction Act, or IRA, could transform the U.S. economy, analysts widely agree. By December, announcements for “over $40 billion” in new capital were committed to over 13 GW of new clean energy, and 20 manufacturing facilities representing over 6,850 new jobs, the American Clean Power Association, or ACP, reported in December. But by March 1, nearly 4,000 comments submitted to the U.S. Treasury Department by clean energy advocates and analysts had requested clarification on how investors can be certain of qualifying for the IRA’s new and extended tax credits, grants, and programs.
Hydrogen Investments Are Everywhere. Which Have What It Takes To Succeed? (Forbes) Global energy companies are gathered in Houston for the major energy conference CERAWeek, and there’s lots of buzz around hydrogen. Investments in this potentially climate-friendly technology are surging worldwide, and the U.S. Department of Energy will soon consider which clean energy projects among dozens of applicants should be seeded with billions in federal spending. The projects under consideration are first-of-their-kind regional “hubs” that will bring innovative technologies like hydrogen and direct air capture together with industrial applications in areas like energy, chemicals and manufacturing, aiming to cluster clean energy supply and demand.
Renewable-energy development in a net-zero world: Disrupted supply chains (McKinsey) Global supply chains have been under enormous pressure from the COVID-19 pandemic and the Ukraine crisis. In the wind and solar sectors, these pressures are compounded by industry-specific challenges. As countries around the world work to meet aggressive decarbonization goals, energy from wind and solar sources are a beacon of hope. Carbon-free, inherently abundant, and increasingly affordable, these renewable sources remain a vital pathway to achieving global net-zero carbon emissions by 2050.
The fight to define ‘green hydrogen’ could determine America’s emissions future (Grist) With the passage of the Inflation Reduction Act last year, a decades-long effort to get a major climate package through Congress is over. But the work of ensuring this unprecedented bundle of funding for clean energy actually leads to reduced emissions is just beginning. A decision with profound implications for that goal now lies with the Treasury Department, which must settle a debate over the best way of crafting a tax credit designed to advance the production of clean hydrogen.
NASA Space Mission Takes Stock Of Carbon Dioxide Emissions By Countries (CleanTechnica) A NASA Earth-observing satellite has helped researchers track carbon dioxide emissions for more than 100 countries around the world. The pilot project offers a powerful new look at the carbon dioxide being emitted in these countries and how much of it is removed from the atmosphere by forests and other carbon-absorbing “sinks” within their borders.
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