U.S. President Donald Trump issued a series of executive actions on Jan. 20, declaring a national energy emergency, initiating fossil fuel expansion, and withdrawing the U.S. from the Paris Climate Agreement. These actions represent a sharp departure from former President Biden’s renewable energy and climate-focused policies. The declaration of a national energy emergency seeks to…...
The U.S. Interior Department on Jan. 17 approved the Construction and Operations Plan for Ocean Wind’s proposed SouthCoast Wind Project, which is designed to generate up to 2.4 gigawatts (GW) of offshore wind power. The project, which marks the 11th commercial-scale offshore wind energy facility in the U.S., has the potential to supply 840,000 residents…...
Brent crude oil prices averaged $81 per barrel (b) during 2024, largely similar to the U.S. Energy Information Administration forecast of $82/b made during January 2024, according to a Jan. 17 report published by the agency. During January 2024, the agency forecasted that market supply and demand fundamentals would be largely balanced during the year,…...
The U.S. Energy Department on Jan. 17 finalized a $584.5 million loan guarantee to subsidiaries of Convergent Energy and Power to fund a solar photovoltaic system with an integrated battery energy storage system and three separate battery storage projects across Puerto Rico. The initiative is part of the Biden administration’s commitment to modernize and rebuild…...
The U.S. Energy Department on Jan. 16 finalized a $1.66 billion loan guarantee to Plug Power to develop up to six clean hydrogen production sites that will use the company’s electrolyzer technology. Hydrogen fuel produced from these sites is expected to power fuel cell-electric vehicles in material handling, transportation, and industrial sectors, cutting greenhouse gas…...
Average U.S. wholesale electricity prices were lower and less volatile during 2024 compared to 2023 due largely to reduced natural gas prices, increased renewable generation, and expanded battery storage capacity according to a Jan. 16 report published by the U.S. Energy Information Administration. U.S. electricity prices were highest during January, in line with below seasonal…...
Toyota Motor Corporation subsidiary Hino Motors on Jan.15, reached resolutions valued at more than $1.6 billion with U.S. regulators including the U.S. Environmental Protection Agency for violations related to submitting false and fraudulent engine emission testing and fuel consumption data as well as illicit smuggling of engines into the U.S. Hino secured approvals through unlawful…...
The U.S. Energy Information Administration has extended forecasts for five key energy trends through December 2026 in its latest short-term outlook, according to a report published on Jan. 15. The agency projects that these trends will have a significant impact on the energy markets over the upcoming two years. Electricity consumption is expected to increase…...
The U.S. Interior Department on Jan.16 released final guidance on the procedure for states to apply for up to $40 million each in Regulatory Improvement Grant funding accessible under the 2021 Infrastructure Investment and Jobs Act, or IIJA, to clean up unsafe and polluting orphaned wells and create jobs across the nation. Through the IIJA,…...
U.S. President Joe Biden on Jan. 14 issued an executive order to strengthen U.S. leadership in artificial intelligence, or AI, and accelerate the development of large-scale data centers and clean energy infrastructure needed to support AI operations efficiently and at scale. The executive order directs certain agencies to make federal sites accessible for AI data…...
The U.S. Energy Department has announced $101 million in funding for five projects to develop test centers for carbon sequestration technologies. Managed by the Office of Fossil Energy and Carbon Management, the projects will advance research and innovation for industrial carbon capture, removal, and conversion technologies. The five selections include the University of Illinois, Holcim,…...
The U.S. Energy Department’s National Renewable Energy Laboratory, in collaboration with the U.S. Departments of Interior, Defense and Agriculture on Jan. 15 released a study showing that there is substantial potential for further enhancing renewable energy production on federal lands. The report, named Land of Opportunity: Potential for Renewable Energy on Federal Land, finds that…...