Energy Update
On July 18, GE announced the brand names of the future companies it will create through its planned separation into three public companies focused on healthcare, energy, and aviation.
In early 2024, GE plans to spin-off GE Vernova, the company’s portfolio of energy businesses, which it says provides one-third of the world’s electricity along with partners. The company will continue its focus on providing reliable, affordable, and sustainable energy.
Trade disputes, supply chain constraints, and increasing shipping costs sent prices for clean energy power purchase agreements higher by 6% last quarter, according to market analysis by LevelTen Energy.
FlexiDAO plans to scale its renewables tracking platform, particularly in the US and Europe, with $6.5 million raised in Series A funding.
The funding round was led by Amsterdam-headquartered energy venture provider SET Ventures and included Google and the Microsoft Climate Innovation Fund as well as existing investor EIT InnoEnergy.
WASHINGTON (AP) — President Joe Biden is promising “strong executive action” to combat climate change, despite dual setbacks in recent weeks that have restricted his ability to regulate carbon emissions and boost clean energy such as wind and solar power.
By Kari Lydersen, Energy News Network
Solar panels and energy storage will be paired on the sites of six retired coal plants in downstate Illinois under a provision of last fall’s sweeping state energy law.
WASHINGTON (AP) — Sen. Joe Manchin has said he’ll oppose an economic measure he’s been negotiating with Democratic leaders if it includes climate or energy provisions or higher taxes on the rich and corporations, a Democrat briefed on the conversations said late Thursday, delivering a stunning blow to one of the party’s top election-year priorities.
By Elizabeth McGowan, Energy News Network
Updates from utility regulators have advocates of shared solar cheering in the nation’s capital, but booing across the Potomac River in Virginia.
The U.S. Department of Energy (DOE) today announced a slate of new initiatives and $56 million in new funding to spur innovation in solar manufacturing and recycling.
According to the International Energy Agency, renewable electricity growth is accelerating faster than ever. Enhanced by national promises and COP 26’s climate goals, the international renewable energy output increased by 290 GW over the last year. The IEA estimates that the global renewable energy economy is on track to reach 4800 GW by 2026.
Contributed by Tim Hysell, CEO, ZincFive
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