The U.S. Energy Department on Jan.7 announced a conditional commitment for a loan guarantee of up to $1.81 billion to Arizona Public Service Company (APS) to finance electric utility projects in Arizona. APS, the largest utility company in the state, will use the loan to invest in clean energy, transmission, and grid resilience projects in…...
The U.S. Department of the Treasury and the Internal Revenue Service on Jan. 7 released the final rules for the Clean Electricity Investment Tax Credit, under section 45Y, and the Clean Electricity Production Tax Credit, under section 45E. Known as the technology-neutral credits, the final rules clarify what type of clean electricity zero-emissions technologies are…...
The Federal Emergency Management Agency has announced $1.35 billion for two grant programs, to improve climate resilience and tackle the effects of adverse weather. The annual Building Resilient Infrastructure and Communities, or BRIC, grant program will provide $750 million to projects that protect communities and infrastructure against natural disasters. The Flood Mitigation Assistance program will…...
Washington’s greenhouse gas emissions declined 13.8 percent during 2020, according to a Jan. 6 report from the Washington Department of Ecology. The report, titled Washington State Greenhouse Gas Emissions Inventory: 1990-2021, summarizes emissions from 1990 through 2021 to track the state’s progress against its legal limits on emissions. GHG emissions increased by 8.8 percent in…...
The Biden-Harris administration released memoranda on Jan. 6 withdrawing more than 625 million acres of the U.S. ocean from offshore drilling. The action prohibits future oil and natural gas leasing in three ocean and coastal regions: the eastern U.S. Atlantic coast and Eastern Gulf of Mexico; Pacific Coast along California, Oregon, and Washington; and the…...
Benchmark Brent crude oil futures prices averaged $80 per barrel (b) during 2024, down $2/b compared to 2023, according to an Jan. 6 report published by the U.S. Energy Information Administration. Despite the geopolitical uncertainty and risks evident in the global energy market, Brent crude oil prices traded in their narrowest range since 2019, with…...
The U.S. Department of the Treasury and the Internal Revenue Service on Jan. 3, issued the final rules for the 2022 Inflation Reduction Act’s 45V Clean Hydrogen Production Tax Credit. The finalized rules aim to provide greater investment clarity by clarifying how hydrogen produced from different pathways such as using electricity from renewable sources or…...
The U.S. energy landscape faces a fundamental policy shift in 2025 as the incoming Trump administration’s focus on fossil fuels signals a sharp departure from the current clean energy priorities. While federal support is expected to pivot toward.…. Read the full report…...
Idaho Power will implement new tariffs that will result in a 3.7 percent, or $50.6 million, annual increase in Idaho jurisdictional revenue. The rate increase is significantly lower than the company’s initial request of about $99.3 million. The new rates take effect at the start of 2025, in line with orders from the Idaho Public…...
The U.S. General Services Administration (GSA) on Jan. 2 announced a long-term purchase contract with Constellation New Energy Inc. to procure emissions-free electricity for federal agencies. This marks GSA’s largest energy procurement and is estimated to comprise more than 10 million megawatt-hours over the contract’s ten-year term. The measure will enable the company to extend…
The U.S. Environmental Protection Agency on Dec. 30 issued Underground Injection Control, or UIC, Class VI well permits to Carbon TerraVault JV Storage Company Sub 1 LLC for permanent underground storage of carbon dioxide. This authorization marks the first permits for Class VI injection wells in California. Once developed, the injection wells can sequester 1.5…...
New York Governor Kathy Hochul on Dec. 18 announced the availability of $28.5 million to install electric vehicle fast chargers across key travel corridors in the state. The additional capital is made available through the federal National Electric Vehicle Infrastructure, or NEVI, formula funding program. The new competitive Downstate Direct Current Fast Charger, or DCFC…...
