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☆ UBS GWM CIO breaks down the potential impact of the U.S. presidential election
▼ + stars: | 2024-06-21 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailUBS GWM CIO breaks down the potential impact of the U.S. presidential electionMark Haefele of UBS Global Wealth Management says a second Trump presidency will benefit some bank and commodity stocks, but be "less good" for consumer staples and renewables stocks.

Persons: Mark Haefele, Trump Organizations: UBS, U.S, UBS Global Wealth Management

☆ Climate change: Fossil fuel use and emissions hit record highs as world struggles with deadly heat, storms and fires
▼ + stars: | 2024-06-20 | by ( Laura Paddison | ) edition.cnn.com time to read: +5 min

Last year was “another year of highs in our energy hungry world,” said Juliet Davenport, president of the Energy Institute. Overall, the proportion of fossil fuels in the 2023 global energy mix remained largely the same at 81.5%, down just 0.5% from the previous year. India’s fossil fuel consumption was up 8% last year and, for the first time ever, the country used more coal than Europe and North America, combined. Dhiraj Singh/Bloomberg/Getty ImagesIn China, fossil fuel use soared to a new record high in 2023, up by 6%, as the end of its extended Covid lockdowns led to a rebound in fossil fuels. Fossil fuel use in major advanced economies is likely to have peaked and is beginning to fall, it found.

Persons: ’, Sharma, Anthony Behar, SIPPL, ”, Juliet Davenport, Dhiraj Singh, lockdowns, Simon Varley, Dave Jones Organizations: CNN, Energy Institute, Getty, “, US, Bloomberg, Resources, KPMG Locations: Mecca, Saudi Arabia, India, New Delhi, Queens, New York City, NY, Europe, North America, Visakhapatnam, Andhra Pradesh, China, Paris

In 2023, Texas led the nation in solar installations on its power grid, surpassing California for its second consecutive year. Explosive power demand poses a challenge to the Biden administration's goal of converting the U.S. power grid to 100% clean electricity by 2035. Nextracker is a leading U.S. solar firm, building systems that allow panels to track to the position of the sun, improving the efficiency of solar power plants. Shugar pointed to the massive number of renewable projects in the U.S. seeking connection to the power grid. But as energy demand increases, the value of each additional hour should rise, eventually making longer duration batteries more cost effective, he said.

Persons: Brandon Bell, Andrés Gluski, Joseph Rand, We've, Kelley, Wells, Goldman Sachs, Biden, Ryan Sweezey, Wood Mackenzie, Richard Kinder, Kinder Morgan, Kinder, Amin Nasser, Nasser, Shugar, Lawrence, Lazard, Nextracker's Shugar, Lawrence Berkeley, Amol Phadke, Rand, Sweezey, Reid Ramdathsingh, Ramdathsingh, Fluence, John Zahurancik, Zahurancik, it's, Zahuranick Organizations: Getty, Renewables, Energy Information Administration, Department of Energy, Big Tech, Microsoft, AES Corporation, Google, AES, Meta, UBS, Solar, Lawrence Berkeley National Laboratory, U.S, Tech, North America, DOE, CNBC, University of California Berkeley's Goldman School of Public, Goldman School, Lawrence, Rystad Energy, Siemens Locations: Ector County , Texas, Texas, California, United States, U.S, Wells Fargo, Saudi, Houston, Lawrence Berkeley, Fluence's Americas

☆ Hot utility stock NextEra falls nearly 5% after announcing plan to sell $2 billion in equity units
▼ + stars: | 2024-06-18 | by ( Spencer Kimball | ) www.cnbc.com time to read: +2 min

NextEra Energy stock fell nearly 5% in early trading Tuesday after announcing a plan to sell $2 billion in equity units to finance power projects as electricity demand rises and to pay back debt. The Florida-based power company, which operates the largest portfolio of renewable energy in the U.S., will issue equity units for $50, which will serve as a contract to purchase shares no later than June 1, 2027. The utility sector has gained about 8.5% over the past three months, outpacing the 6.2% gain by the S&P 500. But the utility space has cooled off over the past month, with NextEra falling 5% over that period. About 71% of Wall Street analysts rate NextEra as the equivalent of buy, while 24% have put a hold on the stock and 4.8% have recommended that investors sell.

Persons: NextEra, Goldman Sachs, Goldman, Carly Davenport Organizations: Energy, Energy Capital Holdings, UBS, Wall Street Locations: Florida, U.S

☆ Bitcoin miners at Donald Trump's closed-door event say he thinks bitcoin can help win AI arms race
▼ + stars: | 2024-06-13 | by ( Mackenzie Sigalos | ) www.cnbc.com time to read: +17 min

Less than four hours after Trump's roundtable wrapped, the former president took to social media to extol the virtues of the bitcoin mining business. "Bitcoin mining may be our last line of defense against a CBDC," Trump posted shortly before midnight on Tuesday. "That's where you've got all these ancillary jobs; it's not just the bitcoin mining directly," said Cook. Enter bitcoin miners. Adding bitcoin miners to the portfolio of energy buyers has helped to improve the core economics of renewable power production.

Persons: Donald Trump, Eva Marie Uzcategui, —, New York —, Jason Les, Bitcoin, Bill Hagerty, David Bailey, Trump, Bailey, Sen, Elizabeth Warren, Les, Warren, Geoff Kendrick, bitcoin, Matthew Schultz, Jayson Browder, Brian Hughes, Biden, Harris, Andreessen Horowitz, Ron Conway, Fred Wilson, Cameron, Tyler Winklevoss, Schultz, Browder, CleanSpark, Coke, Chris Cook, Cook, There's, Amanda Fabiano, Fabiano, Marathon's Browder, We've, Exacore's Cook, you've, it's, Digital's Browder Organizations: U.S, Mar, Lago, Trump, Riot, Marathon Digital Holdings, Arkon Energy, Cholla Energy, Exacore, CNBC, Senate's Banking, Finance, China, BTC Inc, Radical Communist, Democratic, Trump —, solana, Internal Revenue Service, Libertarian National Convention, Standard Chartered, Circuits, Government Affairs, Federal Reserve, Biden, U.S . Treasury Department, Republican, NASDAQ, Fabiano Consulting Locations: Lago, West Palm Beach , Florida, New York, Palm Beach , Florida, bitcoin, China, Russia, U.S, America, Washington, San Francisco, Beijing, Marathon, United States, West Texas

☆ Nuclear power is 'overblown' as an energy source for data centers, power company CEO says
▼ + stars: | 2024-06-10 | by ( Spencer Kimball | ) www.cnbc.com time to read: +3 min

Rodrigo Garrido | ReutersThe euphoria over nuclear energy as a power source for data centers is "overblown," the CEO of a major power provider for large tech companies told CNBC in an interview Monday. Nuclear power, on the other hand, faces challenges in meeting the growing power demand from data centers, Gluski said. Gluski said the "euphoria" over nuclear power is a "little overblown." There is only so much existing nuclear energy that merchant power providers can re-contract to sites such as data centers, the CEO said. "The Street got ahead of it saying you're not going to build renewables, it's all going be nuclear," Gluski said.

Persons: AES Corporation Andres Gluski, Rodrigo Garrido, Andrés Gluski, Gluski, Georgia Power Organizations: AES Corporation Andres, Reuters, CNBC, AES Corporation, AES, Amazon, Microsoft, Google, Nuclear, Energy Information Administration, Georgia, Department of Energy, Renewables, Brookfield Asset Management, Brookfield Locations: Santiago , Chile, U.S, Georgia

☆ Renewable energy will be the predominant power source for data centers, Nextracker CEO says
▼ + stars: | 2024-06-07 | by ( Spencer Kimball | ) www.cnbc.com time to read: +4 min

The solar panels are part of the renewable energy sources that power Apple's European data center in Viborg. "There'll be some gas, but we believe based especially on the data published by the DOE, the predominant energy source for these data centers is going to be renewable energy," Shugar told CNBC in an interview Thursday. Whereas older data centers may have been 100 to 200 megawatts in size, some of the "monster data centers" today may be as big as 1,000 megawatts, Shugar said. Microsoft, for example, recently signed a massive renewable energy deal with Brookfield Asset Management. The companies described the agreement as the largest renewable energy deal signed between two corporate partners to date.

Persons: Christoph Dernbach, Dan Shugar, Lawrence, Shugar, Goldman Sachs, Goldman Organizations: Getty, Big Tech, Wall Street, Lawrence Berkeley National Laboratory, Department of Energy, U.S, DOE, CNBC, Goldman, Microsoft, Brookfield Asset Management Locations: Hanstholm, Denmark, Viborg, Nextracker, California

☆ Analysis: India wants to be the next economic superpower. Half of its population holds the key
▼ + stars: | 2024-06-05 | by ( Diksha Madhok | ) edition.cnn.com time to read: +9 min

New Delhi CNN —India, the world’s fastest growing major economy, is not firing on all cylinders. The engineering graduate started working at Finnish electronics manufacturer Salcomp’s factory in the southern Indian state of Tamil Nadu last year. Adnan Abidi/ReutersLike India, women in China were also relegated to subordinate roles for centuries. Factory jobsMuch of this change is visible in Tamil Nadu, India’s industrial powerhouse where companies such as Foxconn and Samsung have manufacturing plants. Employees test mobile phones on an assembly line of a unit of Foxconn Technology in Sriperumbudur, Tamil Nadu, on July 12, 2019.

Persons: Narendra Modi, Gunasri Tamilselvan, Tamilselvan, “, ”, It’s, Chandrasekhar Sripada, Adnan Abidi, Mao, ” Mao, Modi, Vishnu Venugopalan, Deepesh Nanda, Karen Dias, Parameshwari, Arun Roy, Roy Organizations: New, New Delhi CNN, European Union —, CNN, World Bank, Bank, McKinsey, Indian School of Business, Reuters, Communist Party, Apple, Samsung, Guidance, Tata Group, Tata Power, Foxconn Technology, Bloomberg, Getty, Tata, Tamil Locations: New Delhi, India, Tamil Nadu, South Asia, United States, China, Nongriat, Shillong, Meghalaya, Beijing, Washington, Guidance Tamil, Sriperumbudur, Tirunelveli, Zhengzhou, Tamil

☆ EU elections: How Russian trolls are meddling in the world’s second-biggest democratic vote
▼ + stars: | 2024-06-04 | by ( Ivana Kottasová | ) edition.cnn.com time to read: +11 min

There is a focus on fake stories to influence attitudes on subjects like the wars in Ukraine and Gaza. But for the past year, the climate crisis has been the second-most targeted subject, according to the European Digital Media Observatory (EDMO). Official statistics, however, tell a different story: In 2022, renewables accounted for 23% of the energy consumed in the EU. The EU is considered a global leader in tackling planet-heating pollution, but climate disinformation could undermine the bloc’s ambitious goal to reduce carbon emissions by 90% by 2040, compared with 1990 levels. Its community standards policy in the past had only targeted video, but in April, it was expanded to include audio.

Persons: Morgan Wright, “, streetlights, Paula Gori, ”, Gori, EU DisinfoLab, Wright, Gaizka Iroz, they’ve, “ They’ve, ” Gori, Pallavi Sethi, ’, —, Facebook —, ” Wright Organizations: CNN, European Union, EU, Guardian, Bild, European Digital Media, Facebook, Getty, West, Grantham Research, London School of Economics, stoke, Services, European, Meta Locations: European, Russia, United States, United Kingdom, American, Europe, Germany, Ukraine, Gaza, EU, Spain, France, Biriatou, AFP, Africa, Asia, industrializing, Gori, Italy, Croatia, Poland, England, Grantham, Prague, Russian, Slovakia, Moscow

☆ Power demand is expected to surge. Play it for the long term with these dividend-paying stocks, Wells Fargo says
▼ + stars: | 2024-06-03 | by ( Darla Mercado | Cfp | ) www.cnbc.com time to read: +3 min

A sector of the stock market beloved by income investors could ride the wave of rising energy consumption over the long run, according to Wells Fargo. After 15 years of relatively flat power demand, Wells Fargo sees a compound annual growth rate of 2.6% through 2030 and 80% growth by 2050. The development bodes well for a group of utilities – and Wells Fargo called out some of its overweight-rated plays on the power trend for the long run. Wells called out the 10-year site plan NextEra subsidiary Florida Power & Light submitted to the state's public service commission. The stock's price "[reflects] a level of optimism," Wells Fargo analysts said, but "we think there is a case for further outperformance."

Persons: Neil Kalton, Wells Fargo, Wells, Duke, NextEra, it's Organizations: Duke Energy, Carolinas, Florida Power, Constellation Energy, Constellation, Microsoft, NRG Energy Locations: Wells Fargo, U.S, South Carolina, North Carolina, Virginia, Wells

☆ Best energy and utility stocks to own for rest of year, according to UBS
▼ + stars: | 2024-05-31 | by ( Pia Singh | ) www.cnbc.com time to read: +3 min

In a Thursday note, analyst Josh Silverstein listed the firm's "most compelling" buy-rated stocks to own across the energy and utilities sectors, including Suncor Energy , Coterra Energy , SLB , NextEra Energy and First Solar . Energy and utilities sectors are faring well this year, gaining 12.5% and 8.9%, respectively, while the broader market has advanced about 9.3%. His $90 price target suggests shares could jump 15.1%. First Solar is another favorite of UBS, which assigned the stock a $350 price target that implies 26.5% upside. Other energy and utility favorites UBS named include Coterra and Suncor Energy .

Persons: Josh Silverstein, William Appicelli, Jon Windham, —, SLB Organizations: UBS, Suncor Energy, Coterra Energy, NextEra Energy, . Energy, Big Tech Locations: Schlumberger

☆ A way to play the global nuclear power renaissance from Morgan Stanley
▼ + stars: | 2024-05-26 | by ( Spencer Kimball | ) www.cnbc.com time to read: +3 min

But the company also has an underappreciated growth story as an attractive "pick-and-shovels" way to play the nuclear renaissance theme, Morgan Stanley analysts led by Kristine Liwag told clients in a research note Thursday. Curtiss-Wright builds a crucial reactor coolant pump for Westinghouse's third-generation AP1000 nuclear plants and there's growing interest in these builds in Europe in particular. Talk of a nuclear renaissance 15 years ago fizzled due to the political emphasis on renewables and competitively priced alternatives, the Morgan Stanley analysts said. Modernization of current nuclear plants in the U.S. is a $7 billion opportunity through 2050, according to Curtiss-Wright management. In a bull case, Curtiss-Wright could realize $4.9 billion in revenue through 2050 on AP1000 builds, Morgan Stanley estimates.

Persons: Morgan Stanley, Wright, Kristine Liwag, Morgan Stanley's Organizations: Curtiss, Westinghouse Locations: Europe, Japan, Ukraine, Curtiss, Wight, U.S, Canada, South Korea

☆ China made so many solar panels that even its own grid can't support all the energy produced
▼ + stars: | 2024-05-24 | by ( Huileng Tan | ) www.businessinsider.com time to read: +4 min

China has made a lot of solar panels, dramatically lowering prices and helping the country's clean-energy transition. The problem is that Chinese manufacturers seem to have made too many solar panels, according to the US, the European Union, and their allies. China's facing its own overproduction problem at home following a breakneck pace of growth in solar energy — one key pillar of the country's "new three" economic drivers. Germany's energy prices are under pressure from too much solar energyIt's not just China getting hit by an excess of solar energy. Germany, too, has been producing so much solar energy that energy prices have fallen into negative territory when output peaks.

Persons: They're, Joe Biden, David Fishman Organizations: Service, European Union, Business, Reuters, Bloomberg, West, Longi Green Energy Technology, China Photovoltaic Industry Association, Lantau Group Locations: China, Beijing, overcapacity, Germany, that's

☆ CIO shares Nvidia alternatives to cash in on the AI theme: 'There's another way to play this'
▼ + stars: | 2024-05-24 | by ( Weizhen Tan | ) www.cnbc.com time to read: +2 min

Its shares jumped in extended trading but given the "blowout earnings," Nancy Tengler of Laffer Tengler Investments said she expected to see a higher move. "We think there's another way to play this," she said, adding these are namely buying into "old economy companies," as well as data center names. One such "old economy" name is Walmart , according to her. They've embraced not only digital solutions, but robotics, generative AI and their ad business in cloud computing, obviously in their e-commerce business," she said. Quanta Services , which builds infrastructure for electric power and renewables, as well as provides utility performance services, was another pick from Tengler.

Persons: Nancy Tengler, CNBC's, They've, Tengler, Kif Leswing Organizations: Nvidia, Google, Microsoft, Meta, Investments, Walmart, Carrier, Oracle, Broadcom

☆ Here are JPMorgan's top clean energy picks for the rest of 2024
▼ + stars: | 2024-05-24 | by ( Spencer Kimball | ) www.cnbc.com time to read: +4 min

JPMorgan's top picks for the rest of the year are two smaller, lesser known companies — Hannon Armstrong Sustainable Infrastructure and TPI Composites . Hannon Armstrong finances renewable projects and TPI builds blades for wind turbines. The investment bank has $39 price target for Hannon Armstrong, implying 21% upside from Thursday's close of $32.13. When long-term Treasury rates are higher than short-term rates, Hannon Armstrong can book projects at the higher rate but finance them at the lower rate. Nextracker's price target remains at $63, suggesting 23% upside from the last closing price of $51.32.

Persons: JPMorgan's, — Hannon Armstrong, Hannon Armstrong, TPI, Mark Strouse, Strouse Organizations: U.S, JPMorgan, — Hannon Armstrong Sustainable Infrastructure, TPI Composites

☆ Sweeping changes to America's aging power grid are on their way to help bypass NIMBY roadblocks and state infighting
▼ + stars: | 2024-05-23 | by ( Catherine Boudreau | ) www.businessinsider.com time to read: +9 min

America's power grid is old and stressed. The main problem: It takes way too long to build towering high-voltage power lines that carry electricity across state lines and to hook up new power to the grid. AdvertisementBut upgrading the power grid gets bogged down by several issues. A new rule issued by the Federal Energy Regulatory Commission this month is aimed at tackling some of the problems. If the US doesn't invest in regional transmission lines, customers will pay the price in the form of congestion and more life-threatening outages.

Persons: Brett White, Larry Gasteiger, Allison Clements, West Virginia —, Jeffrey Shields, PJM, Shields, Manu Asthana's, Asthana, Mark Christie, Neil Chatterjee, Chatterjee, Christine Powell, Chuck Schumer, Gasteiger Organizations: Service, Business, Energy, Princeton University, Federal Energy Regulatory, Democrat, Sierra Club, Republican, Department of Energy, DOE, FERC, Earthjustice's Clean Energy, University of Chicago, wouldn't Locations: Pine, States, Maryland, Pennsylvania, West Virginia, New Jersey, California

☆ First Solar earnings could surge 370% by 2027 as Big Tech hunts for renewables to power AI, UBS says
▼ + stars: | 2024-05-21 | by ( Spencer Kimball | ) www.cnbc.com time to read: +3 min

First Solar's earnings are expected to surge 374% to $36.74 per share in 2027, analysts led by Jon Windham told clients in a research note Tuesday. Utility-scale solar represents 80% of the corporate power purchase agreements over the past five years, and the four tech companies represent 40% of utility-sale solar demand, according to UBS. First Solar makes thin-film solar modules rather than silicon-based modules that are dominated globally by China. This will allow First Solar customers to benefit from the 10% domestic content tax credit under the IRA, which is worth about 10 cents per watt of solar power. "FSLR is also a hedge against potential weakness in the 'sustainability' of the Chinese silicon based solar supply chain."

Persons: Jon Windham, Windham, Goldman Sachs, Mark Widmar, Alexander Bradley Organizations: Big Tech, UBS, Microsoft, Meta, Google, First Locations: U.S, China, Ohio, Alabama, Louisiana

☆ Here's how to buy renewable energy from your electric utility
▼ + stars: | 2024-05-21 | by ( Greg Iacurci | ) www.cnbc.com time to read: +7 min

In the voluntary market, customers buy renewable energy in amounts that exceed states' minimum requirements from utility companies. Customers in these programs — also known as utility green power programs — pay their utility a "small premium" to get electricity from renewable sources, according to the U.S. Energy Department. Green power marketing programs Consumers in some states can also opt into "green power marketing programs." watch nowGreen energy programs instead rely on "renewable energy certificates," or RECs. It's a way to provide extra funding to a renewable energy project, typically sold by a broker or marketer rather than a utility, Sumner said.

Persons: Mark Felix, Jordan Vonderhaar, Jenny Sumner, It's, Joe Raedle, Loren Elliott, —, Sumner, Valerie Macon, Joydeep Mitra, Mitra Organizations: Afp, Getty, U.S . Energy Information Administration, National Renewable Energy Laboratory, Environmental Protection Agency, Roadrunner, Bloomberg, U.S . Department of Energy, Getty Images, U.S . Energy Department, Yale University's, EPA, Michigan State University Locations: Dawson , Texas, U.S, McCamey , Texas, Solano County , California, California , Connecticut, Delaware , Illinois, Maine , Maryland , Massachusetts, Michigan , New Hampshire , New Jersey , New York , Ohio, Pennsylvania, Rhode Island , Texas, Virginia, California, Imperial , California

☆ Morgan Stanley picks global stocks to play a $100 billion AI boom, giving one 40% upside
▼ + stars: | 2024-05-20 | by ( Amala Balakrishner | In Amala-Balakrishner | ) www.cnbc.com time to read: +3 min

The analysts project that over $100 billion will be channeled toward such "potential investments propel[ling] AI and spur[ring] power demand growth in Asia." Here are three of Morgan Stanley's overweight-rated stock picks with more than 35% upside potential over the next 12 months. Morgan Stanley has a target price of 7.20 Singapore dollars ($5.35) on the Singapore Exchange -listed shares, giving them 36.9% potential upside. GDS Holdings Another Morgan Stanley favorite is Chinese data center developer and operator GDS Holdings . Morgan Stanley has a target price of $13.30 on the Nasdaq-listed stock, which translates to 40% potential upside.

Persons: Morgan Stanley, Morgan Stanley's, Tenaga Nasional Morgan Stanley, — CNBC's Michael Bloom Organizations: Tenaga Nasional, Tenaga, Microsoft, Amazon Web Services, U.S, Global X FTSE, Asia, Malaysian, Industries, Sembcorp, Morgan, Singapore, Sembcorp Industries, GDS, GDS Holdings, ASEAN, Nasdaq Locations: Asia, U.S, Malaysian, Tenaga Nasional, Bursa Malaysia, Malaysia, Singapore, Cambria, China, Japan, Hong Kong, Indonesia

☆ Goldman says buy call options in these stocks set to benefit from an AI-driven energy demand surge
▼ + stars: | 2024-05-15 | by ( Spencer Kimball | ) www.cnbc.com time to read: +1 min

Power demand is expected to surge over the next decade driven primarily by artificial intelligence and data centers, with natural gas , renewable and utility stocks poised to benefit, according to Goldman Sachs. AI and data centers will consume 8% of U.S. power demand by 2030, compared with 3% currently, according to Goldman projections. Natural gas will power 60% of the growth, while renewables are expected to make up the other 40%, according to the investment bank. Goldman recommends that investors buy call options for stocks most levered to the coming power demand surge. These buy-rated stocks are attractive because their current volatility is well below their median implied volatility, according to Goldman.

Persons: Goldman Sachs, Goldman, Kinder Morgan Organizations: Southern Company, Southern

☆ Microsoft’s carbon emissions have risen 30% since 2020 due to data center expansion
▼ + stars: | 2024-05-15 | by ( Spencer Kimball | ) www.cnbc.com time to read: +3 min

Microsoft 's total carbon emissions have risen nearly 30% since 2020 primarily due to the construction of data centers, the company said in its annual sustainability report Wednesday. However, its indirect emissions — those that stem from all other activities Microsoft engages in — increased 30.9% during the same period. The increase in Microsoft's indirect emissions is largely due to the building materials and hardware components, such as semiconductors, servers and racks, used in constructing more data centers. The expansion of data centers poses a challenge to tech companies that have set ambitious timelines to eliminate their carbon footprints. Goldman Sachs expects natural gas to fuel 60% of the increased power demand from data centers, while renewables will power the remaining 40%.

Persons: Goldman Sachs Organizations: Microsoft Times, Microsoft, Dominion Energy, Duke Energy, Brookfield Asset Management, Brookfield Locations: New York City, Swedish

☆ U.S. energy panel approves rule to expand transmission of renewable power
▼ + stars: | 2024-05-14 | by ( ) www.cnbc.com time to read: +6 min

Republican Mark Christie opposed the rule, dismissing it as a gift to solar and wind power operators. Many power companies and Republican-led states don't want to spend money on new transmission lines or upgrades for renewable energy, creating conflicts with Democratic states that have ambitious clean-energy goals. The rule is intended to streamline how power lines are sited and how costs are shared between states. It could accelerate construction of new transmission lines for wind, solar and other renewable power and add huge amounts of clean energy to the grid. The new rule "will improve regional transmission planning, break down barriers to grid buildout and support the delivery of more affordable and reliable power,″ Zaidi said.

Persons: Joe Biden's, Willie Phillips, Allison Clements, Republican Mark Christie, Phillips, Christie, ″, Biden, Ali Zaidi, ″ Zaidi, Clements, Heather O'Neill, Chuck Schumer, Schumer Organizations: Federal Energy Regulatory Commission, Democratic, Republican, Energy Department, FERC, Advanced Energy Locations: Washington, U.S

Smarter grids, like Chattanooga's, are just part of what it will take to modernize the American grid in the coming decades. A troubled transition to renewable energyOffshore wind farms are one of the growing areas of renewable energy. And the Edwards & Sanborn project, the US's largest solar energy and energy storage project in California, came online in January. Renewable energy is not only cleaner than fossil fuels but also often less expensive. Breaking down barriersThe US grid isn't designed for fluctuating renewable energy, so much of it goes to waste because clean-energy projects can't connect to the grid.

Persons: Kevin Schneider, Harris, Joe Rand, Joshua Rhodes, barleyman, Edwards, Rand, Philip Odonkor, Seib, headwinds, Julia Bovey, Ørsted, Bovey, Paul Denholm, We'll, Denholm, There's, PATRICK T, FALLON, we're, Schneider, We've, EPB, MISO, it's Organizations: Infrastructure, Service, Pacific Northwest National Laboratory, Nationwide, Biden, Lawrence Berkeley National Laboratory, University of Texas, Renewables, Sanborn, of Systems, Enterprises, Stevens Institute of Technology, Trump, Fork, Eversource Energy, National Renewable Energy Laboratory, Getty, Infrastructure Law Locations: Chattanooga , Tennessee, Chattanooga, EPB, Austin, Maine, North Carolina, California, United States

☆ Siemens Energy changes leadership at embattled wind turbine unit
▼ + stars: | 2024-05-08 | by ( Matt Clinch | ) www.cnbc.com time to read: +1 min

Power-generating Siemens 2.37 megawatt (MW) wind turbines are seen at the Ocotillo Wind Energy Facility California, May 29, 2020. The German renewables firm Siemens Energy announced Wednesday that the CEO of its troubled wind turbine unit will be replaced amid "comprehensive restructuring measures." "In a very difficult situation at Siemens Gamesa, Jochen laid the central foundations for the urgently needed reorganization and new start within Siemens Energy. It is only fair to emphasize that the causes of the quality problems did not fall under his tenure as CEO," said Siemens Energy CEO Christian Bruch in a statement. Siemens Energy suffered a rough 2023.

Persons: Jochen Eickholt, Vinod Philip, Jochen, Christian Bruch, Gamesa Organizations: Energy Facility, Siemens Energy, Siemens Gamesa Locations: Energy Facility California

☆ Siemens Energy to be active in onshore and offshore going forward, CEO says
▼ + stars: | 2024-05-08 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailSiemens Energy to be active in onshore and offshore going forward, CEO saysSiemens Energy CEO Christian Bruch discusses the German renewables firm’s latest quarterly earnings and provides an update on the outlook.

Persons: Christian Bruch Organizations: Siemens Energy

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