Strategies to expand electric vehicle (EV) charging infrastructure are gaining emphasis as states seek to reduce the use of carbon-intensive transportation fuels to progress towards decarbonization and EV adoption goals.
PJM Interconnection LLC’s capacity market auction for the 2023-2024 delivery year cleared at $34.13 per megawatt-day (MW-day), which is nearly 32 percent lower compared to the 2021 auction and the lowest in almost a decade. The auction results reflect a low-carbon resource mix, with a growth of more than 5,000 cleared megawatts of carbon-free resources, according to the grid operator, which operates across 13 states and the District of Columbia.
The U.S. liquefied natural gas (LNG) sector is poised for more growth amid surging natural gas prices, growing export capacity, and high demand due to Europe's supply crisis. Currently, about 25 LNG projects are under construction or under different stages of planning across the country.
The U.S. Environmental Protection Agency (EPA) has announced a slew of measures to strengthen the Renewable Fuel Standard (RFS) program, which sets increasing annual volumetric mandates for renewable fuel use in the transportation sector.
The U.S. Energy Department’s $6 billion nuclear credit program, the pursuit for carbon-free generation to meet climate goals, and technological advancements are reigniting support for nuclear power. The global impact of Russia’s war on Ukraine has also escalated the importance of national security considerations in energy policies including a discussion about the role of nuclear power.
Several states that have ambitious clean energy and emissions reduction mandates are investigating the role of natural gas in the shift to a low-carbon power system. Actions at the federal level, spurred by the Biden administration’s goal of net-zero emissions by 2050, are also catalyzing efforts to decarbonize the gas system.
Amid federal and state policies aimed at catalyzing solar power to facilitate power sector decarbonization, an investigation into circumvention of tariffs on solar panels imported from Southeast Asia has created market uncertainty, threatening U.S. solar buildout.
The U.S. offshore wind industry is poised for continued progress as evident from the recent record-setting New York Bight wind auction, the first to be held under the Biden administration.
The swift advancement of sophisticated cyber threats alongside the increase in advanced energy system control technologies has called for stronger measures to secure critical infrastructure and energy sector resilience.
The increasing focus on reducing carbon dioxide (CO2) and other greenhouse gas emissions to achieve climate goals has drawn renewed attention to the deployment of carbon capture, utilization, and storage (CCUS) technologies. Federal investments in carbon management through the 2021 Infrastructure Investment and Jobs Act (IIJA) have provided a near-term opportunity to scale commercial carbon capture projects.
Energy storage is evolving to be an essential part of the energy transition given its ability to provide power on demand and optimize grid performance amid the proliferation of intermittent renewable energy resources.
U.S. carbon markets drew strong participation in recent auctions reflecting potentially higher demand for carbon allowances in anticipation of more stringent federal and state climate policies. Washington is advancing a new cap-and-invest program, while Vermont is examining options for a similar initiative to cut transportation sector emissions.