View this email in your browser
DAILY ENERGY NEWS  | 03/04/2025
Subscribe Now

If your industry can't survive without handouts, then it shouldn't survive, period.


Bloomberg (3/3/25) reports: "Less than a year after launching a hedge fund dedicated to the green energy transition, its founder says there’s currently no financial gain to be had from investing in renewable power. 'The whole sector — solar, wind, hydrogen, fuel cells — anything clean is dead for now,' said Nishant Gupta, founder and chief investment officer at London-based Kanou Capital LLP. Against a barrage of political headwinds in the US, a war-fueled energy crisis and stubbornly high interest rates, large parts of the clean-energy industry are stalling. In the past year, the S&P Global Clean Energy Index has lost 20%, a period during which the S&P 500 Index gained 16%. And with the Trump administration shredding climate policies in the world’s largest economy, many green investors are taking a timeout."

"Wind turbines and solar panels have benefited from the positive connotations of the word 'renewable' for decades. The problem is that they aren’t renewable." 

 

– Joshua Antonini, Mackinac Center

Solar flames out without an unlimited subsidy. 


Bloomberg (3/3/25) reports: "Sunnova Energy International Inc. shares plunged 71% as the company warned there’s substantial doubt it will remain in business. That came less than a week after First Solar Inc., the biggest US solar manufacturer, said it was seeing increasing customer delays. And it was also on the heels of Sunrun Inc., the biggest US residential solar company, saying it expects installation volumes to be flat this year. The US solar industry is in the midst of the biggest reckoning it’s faced since going mainstream more than a decade ago. Business for rooftop solar was already hurt by high interest rates and lower state incentives. Now, President Donald Trump’s moves against green energy means developers of large-scale projects are seeing new risks, including potential permitting obstacles, clouding the outlook for growth. Trump’s push to unravel former President Joe Biden’s Inflation Reduction Act is also making some investors nervous that key federal financial incentives will disappear."

Britain is trading its sovereignty for "green" buses.
 

Reuters (2/28/25) reports: "British Energy Secretary Ed Miliband will visit China in March to restart talks on energy cooperation and meet Chinese investors, three sources with direct knowledge of the plan said, as the Labour government seeks closer China ties amid worsening U.S.- and EU-China relations. The sources, who were not authorised to speak to media, said Miliband will visit Beijing on March 17-19, which Reuters is reporting for the first time. British officials have said they want to recalibrate many of the previous Conservative Party-led government's positions on China, particularly around accepting Chinese job-creating investment and allowing Chinese firms to provide critical infrastructure, such as nuclear power plants...In 2022, then-Prime Minister Rishi Sunak signed off on providing around 700 million pounds ($880 million) to buy out China General Nuclear in a nuclear power project in the south west of England after some British lawmakers expressed concerns about China's involvement in the country's nuclear industry. Britain has refrained from following the U.S. and Europe in slapping import tariffs on Chinese electric vehicles over accusations its automakers benefit from unfair state subsidies and have overcapacity. Chinese automakers BYD and Chery both sell into the UK market, while XPeng plans to launch its cars in Britain later this year. BYD also manufacturers London's iconic red double-decker buses, while a subsidiary of Geely makes the city's famous black taxi cabs."

The data is in - intermittent renewables aren't going to cut it.


E&E News (3/3/25) reports: "Legislators in states where the U.S. data center boom is about to kick into higher gear are considering bills that could force developers to pony up to connect their power-hungry loads to the grid. Bills in Georgia, California and Virginia, for example, could place more costs of data center infrastructure on developers rather than being borne by ratepayers, addressing a concern that the new loads could raise utility costs. Others would establish new rules regarding how data centers can obtain power...Texas regulators have said the ERCOT grid may need to double its power generation capacity by 2030 to meet booming demand. Nationally, a federally backed study found that data center demand could triple by 2028 and account for as much as 12 percent of the country’s power use...Democratic state Sen. Steve Padilla of California has introduced a pair of bills that he said were designed to bring data centers online in a way that would facilitate efforts to decarbonize the grid and upgrade infrastructure to reduce fire risk."

Energy Markets

 
WTI Crude Oil: ↓ $67.54
Natural Gas: ↑ $4.27
Gasoline: ↑ $3.09
Diesel: ↑ $3.65
Heating Oil: ↑ $227.07
Brent Crude Oil: ↓ $70.55
US Rig Count: ↓ 604

 
Donate
Subscribe to The Unregulated Podcast Subscribe to The Unregulated Podcast
Subscribe to The Plugged In Podcast Subscribe to The Plugged In Podcast
Connect on Facebook Connect on Facebook
Follow on X Follow on X
Subscribe on YouTube Subscribe on YouTube
Forward to a Friend Forward to a Friend
Our mailing address is:
1155 15th Street NW
Suite 525
Washington, DC xxxxxx
Want to change how you receive these emails?
update your preferences
unsubscribe from this list