Energy Update
Toyota said it plans to invest up to $5.6 billion in the U.S. and Japan to supply automotive batteries for battery electric vehicles. The automaker said it plans to begin battery production between 2024 and 2026.
The company said it intends to increase its combined battery production capacity in both countries by up to 40 GWh.
PORTLAND, Maine (AP) — Maine’s highest court on Tuesday breathed new life into a $1 billion transmission line to serve as a conduit for Canadian hydropower, ruling there was merit in developers’ claims that a referendum rebuking the project was unconstitutional.
By Shelley Robbins, Clean Energy Group
Solar advocates said that a so-called "monthly tax" on rooftop solar customers that was included in a proposal to extend the life of a nuclear power plant in California has been removed from the legislation at the urging of industry supporters.
(Wed, 31 Aug 2022) EIA presents alternative cases to the <em>Annual Energy Outlook 2022</em> (AEO2022) that isolate revenue streams for different battery storage applications. These cases focus on identifying whether revenue from energy or capacity markets are stronger drivers for future battery storage deployment across the United States.
Insurance brokerage Marsh said it launched an insurance and reinsurance facility for new and existing green and blue hydrogen energy projects.
The product was developed by Marsh along with insurers Liberty Specialty Markets, part of Liberty Mutual Insurance Group, and AIG. It is intended to provide up to $300 million of cover per risk for the construction and start-up phases of hydrogen projects globally.
Contributed by Tadeu Carneiro, chairman and CEO, Boston Metal
It’s no secret that the U.S. electricity generation system is desperately in need of reliable energy storage to back up the vast amount of intermittent renewable resources being added. It’s also a fact that pumped storage hydropower is the single largest source of this backup storage, at well over 90% of total available utility-scale energy storage.
The U.S. Department of Energy (DOE) has issued a Request for Information (RFI) to help guide the implementation of $335 million in investments from the Bipartisan Infrastructure Law for lithium-ion battery recycling programs.
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