Energy Update

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By Allen Austin, ABB

Renewable energy has arrived, and it makes up the majority of new generating capacity being added in the United States. The US Energy Information Administration projects renewables’ share of the national generation mix will rise from 21 percent in 2020 to 42 percent in 2050, even as the federal tax credits for both wind and solar close out over the next few years.

Energy storage installation grew nearly 200 percent and totaled an all-time operational record in fourth quarter 2020, according to a new report.

The 4-MW Kruisvallei hydropower plant reached commercial operations in late February 2021, according to project developer Red Rocket.

by Richard Schmalensee, Professor, MIT Sloan School of Management and Davide Schoenbrod, Professor, New York Law School

[updated March 2021]

The Department of the Interior today announced that the Bureau of Ocean Energy Management (BOEM) has completed the environmental analysis of the proposed Vineyard Wind I offshore wind project. This is the final analysis that BOEM needs to either approve the project or request additional modifications.

Longtime renewable energy expert and founder of Generate Capital, Jigar Shah, has been appointed to head up the Loan Programs Office (LPO) of the US Department of Energy (DOE).  

by Jane Marsh, Blogger

Renewable energy businesses can be promising investments for larger companies looking to improve their carbon footprints. Sometimes, what some might assume to be the least likely investors will pour funds into renewables. That’s the case with Eavor Technologies’ most recent round of fundraising.

Visionary British female entrepreneurs are receiving government backing to drive forward their novel innovations and business ideas.

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