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While job growth in the sector faces uncertainty after the election, industry watchers say the future of energy production and consumption is always changing. The IRA is projected to generate more than 300,000 jobs annually for new energy project construction and about 100,000 permanent jobs each year, according to EESI. The rate was more than double the growth for the rest of the energy sector and the overall U.S. economy, according to the newly released 2024 U.S. Energy and Employment Report. Recent data from the Department of Energy showed clean energy employment increased by 142,000 jobs last year, accounting for more than half of new energy sector jobs. One sector that faces particular uncertainty after the election is clean energy, which has received a boost from the Biden administration but faced skepticism from Trump.
Persons: — it's, it's, Daniel Bresette, there's, Biden, Kamala Harris, Donald Trump, Nicole Bulgarino, Caroline Leilani Stevenson, Stevenson, Harris, Trump, Joe Biden Organizations: Energy, Environmental, Energy Study Institute, . Energy, Science, Department of Energy, Trump, Ameresco, Department of Defense, Green, Deal, CNN, White, Green New, Economic, of New Locations: U.S, Europe, Ameresco, Honolulu, Maui, New York, of New York
Gautam Adani plans to hand over the company to his sons and nephews by the early 2030s. The Adani Group is a major player in multiple sectors in India, including infrastructure and energy. Go to newsletter preferences Thanks for signing up! download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . Gautam Adani, 62 years old, announced his intention to retire at 70 from the Adani Group, Bloomberg reported on Monday.
Persons: Gautam Adani, Adani, Organizations: Service, Adani Group, Bloomberg, Adani, Business Locations: India
For years, China ramped up green energy production capacity, becoming the global leader in renewable energy manufacturing, from solar to wind to battery. In a second Trump administration, prices for imports from China are likely to surge for green energy producers. The view is that First Solar will benefit the most within the U.S. solar sector from greater trade restrictions, according to Baird. Ultimately, that may curtail the number of green energy startups and private companies that want to go public, Schleif said. "It's been really hard to compete with Chinese companies in any way, shape or form."
Persons: Donald Trump, Trump, Biden, Baird, Ben Kallo, Green, Carol Schleif, Schleif, Joe Biden, Andy Poreda, Tobin Marcus, Wolfe, TAN, Morgan Stanley, Elon Musk's, Advisory's Poreda, Poreda, It's Organizations: P, BMO Family Office, Biden White, Sage Advisory, Republican, Senate, White, Wolfe Research, Republican National Convention, Biden, JPMorgan, Materials Corp Locations: China, U.S, North America, Albemarle
LONDON — Britain's King Charles III is set for a bumper £45 million ($58 million) pay raise after profits at the sovereign's public estate more than doubled, according to official records. Profits of The Crown Estate — a portion of which funds the monarchy — increased 148% from £443 million in 2022-23 to £1.1 billion ($1.4 billion) in 2023-24, an annual report showed Wednesday. The Crown Estate, the national portfolio of historical and commercial land-holdings, is owned by the British monarch but managed independently and its revenues are given to the government. In exchange, the monarchy currently receives 12% of Crown Estate profits — a proportion calculated on funds two years in arrears. Staffing the royal household cost £27.9 million in the last financial year, while property maintenance was £47 million amid continued renovations of Buckingham Palace.
Persons: King Charles III, Grant, King Charles, Dan Labbad, Labbad, Sovereign Grant Organizations: The, Sovereign Locations: British, Buckingham Palace, Kenya
In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailInvestors should look forward to earnings catalysts for Tesla, says Canoccord's George GianarikasGeorge Gianarikas, senior analyst of sustainable energy and mobility research at Canaccord Genuity, joins CNBC's 'The Exchange' to discuss Tesla earnings.
Persons: Canoccord's George Gianarikas George Gianarikas
Scientists have uncovered a new source of hazardous "forever chemical" pollution: the rechargeable lithium-ion batteries found in most electric vehicles. Some lithium-ion battery technologies use a class of PFAS chemicals, or per-and polyfluoroalkyl substances, that helps make batteries less flammable and conduct electricity. Scientists tested more than a dozen lithium-ion batteries used in EVs and consumer electronics like laptops, and found bis-FASIs at various concentrations. They can also leach into the environment from landfills, where the majority of lithium-ion batteries end up. AdvertisementThe study said only about 5% of lithium-ion batteries are recycled, and by 2040, there could be some 8 million tons of lithium-ion battery waste.
Persons: They've, Jennifer Guelfo, PFAS, Lee Ferguson, Guelfo, PFOA, hasn't, Corteva Organizations: Service, Nature Communications, Business, Texas Tech University, Duke University, Environmental Protection Agency, Solvay, Chemours, DuPont Locations: US, Belgium, France, Minnesota , Kentucky, Antwerp, Salindres
CNBC's Jim Cramer said Friday there are stocks and sectors that would benefit if Donald Trump were to become president again. If you think Trump will win the White House, Cramer said, "That means you can go buy the banks. That means you can go buy the natural gas and energy stocks," as well as Big Tech. Cramer also said Tesla might fare better under Trump and Biden because Trump is not pro-union. China Trump has said he would be even tougher on China if he were re-elected.
Persons: CNBC's Jim Cramer, Donald Trump, Cramer, , Joe Biden, Biden's, Biden, he's, Rather, Trump, Banks, Wells Fargo, Morgan Stanley, Nextracker, China Trump Organizations: Trump, Investing Club, Top, CNBC, White, Big Tech, Biden, Kroger, Albertsons, Capri, Disney, Club, House . Energy, New, Energy, Ford, The, Nike, Starbucks Locations: China
A data center. The industry is about to be hit with a "wave of data tsunami," said Merima Dzanic, head of strategy and operations at the Danish Data Center Industry Association. A "whole different approach to how we build, design and operate data centers," is required, Dzanic added. Eco launchASCEND's goal was to explore the potential and comparative environmental impact of space-based data centers to aid Europe in becoming carbon-neutral by 2050. Yet Dzanic warned the somewhat "fringe" idea of space-based data centers doesn't fully solve the issue of sustainable energy usage.
Persons: Erik Isakson, Damien Dumestier, Dumestier, Merima Dzanic, Dzanic, Michael Winterson, Andrey Semenov Organizations: DigitalVision, Thales Alenia Space, European Commission, CNBC, International Energy Agency, Danish Data Center Industry Association, International Space, European Data Centre Association, Istock, Getty Locations: Europe, Japan
"More and more people will realize that this [Global Access Solutions] was a good acquisition," Jim Cramer said Monday. To revive its lagging stock, management must also figure out which businesses are better on their own — kind of like the split announced last month by fellow Club stock DuPont . Honeywell stock has dropped 4.6% year-to-date. Smaller units have struggled like Building Automation, where management hopes to get a lift from Global Access Solutions. The Global Access Solutions deal, which was his biggest move to date, closed in the month of his first anniversary as chief exec.
Persons: Carrier, Jim Cramer, RTX, Jim, Vimal Kapur, Jim Cramer's, Michael Nagle Organizations: Honeywell, Club, DuPont, Solutions, Wall Street, Honeywell's Aerospace Technologies, DD, CNBC, Honeywell International Inc, New York Stock Exchange, Bloomberg, Getty Locations: New York
Record high gold prices are in the spotlight — but it's really the yellow metal's poorer cousin, silver, that's outperforming in the price rally. Spot silver prices have gained 35% this year-to-date to 12-year-highs. In comparison, spot gold prices are at around $2,350 per ounce, but have just gained 14% so far this year. Silver is used in solar panels and also in general industryIn particular, silver is a key raw material for solar panels. Other than solar panels, silver is also used in electronics, as catalysts in industrial processes, and in car parts.
Persons: Morgan Stanley, Daniela Hathorn, Hathorn, Silver, overcapacity Organizations: Service, Business, Bloomberg, East, Global, Silver Institute Locations: China, West, Europe, Beijing
Tesla is being sued by the nonprofit Environmental Democracy Project, which alleges "ongoing failure to comply with the Clean Air Act" at the electric vehicle company's assembly plant in Fremont, California. The latest lawsuit in California described Tesla's environmental violations as "ongoing" and said that residents and employees in the surrounding area have been exposed to "excess amounts of air pollution, including nitrogen oxides, arsenic, cadmium, and other harmful chemicals." The Bay Area Air Quality Management District, an environmental regulator, recently accused Tesla of allowing "unabated emissions" in Fremont that should have been prevented. Air pollution from the assembly plant is the result of equipment that frequently breaks down, allowing emissions to vent directly into the air without proper filtration, regulators have said. Additionally, Tesla employees or contractors have allegedly shut off air pollution controls in the factory, particularly when the company was having trouble with other paint shop equipment.
Persons: Tesla, Tesla's, Elon Musk, Musk Organizations: Democracy, Political Economy Research, University of Massachusetts, Environmental Protection Agency, Tesla, Bay Area Air Quality Management District, CNBC Locations: Fremont , California, San Francisco, Amherst, California, Germany, Berlin, Fremont
Read previewThe director who helped launch Tesla's latest project is leaving the company. Renjie Zhu, the director of manufacturing engineering at Tesla's Austin Gigafactory, announced he'd left the company on Sunday. The executive wrote on LinkedIn that "after triumphing the epic launch of Cybertruck program," his "adventure with this great company has come to an end." Related storiesIt's unclear whether Zhu was part of a recent series of layoffs at Tesla or resigned on his own. The executive and a spokesperson for Tesla did not immediately respond to a request for comment.
Persons: , Renjie Zhu, Tesla's Austin Gigafactory, he'd, Zhu, Tesla's, Tesla, Elon Musk Organizations: Service, Tesla's, LinkedIn, Business, Tesla Locations: Shanghai
Tesla shares fell nearly 6% on Tuesday following news that CEO Elon Musk was pressing ahead with more job cuts at Tesla , impacting an estimated 500 employees in its Supercharger team. In the email, Musk also expressed consternation that Tesla management hadn't thinned out the company's staff more promptly at his direction. Other laid-off Tesla employees posted publicly about Tesla shrinking the Supercharger team. In cutting that group, Tesla revealed it's throttling the expansion of its Supercharger network in the U.S. The move comes after Tesla struck partnerships with Ford , GM and other industry players ensuring they would manufacture cars using the Tesla NACS (North American Charging Standard) for compatibility with Tesla charging stations, and allowing those companies' customers to use Tesla stations.
Persons: Tesla, Elon Musk, Musk, Rebecca Tinucci, Daniel Ho, Andres Pinter, Pinter, Junheng Li Organizations: EV, CNBC, U.S, Ford, GM, Tesla, U.S . Transportation, Clean Transportation, Baidu, Warren Capital Locations: Tesla, California, United States, U.S, China
Mohamed El-Erian named three key risks that will determine where US growth is headed in 2024 through 2025. That includes changes to the Fed's inflation target and low-income consumer spending. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementIf Wall Street was wrong about recession odds in 2023 and 2024, forecasting for next year won't be any easier, Cambridge economist Mohamed El-Erian wrote in Project Syndicate. "Given high interest rates and some creditors' loss of enthusiasm, this cohort's willingness to consume will hinge on whether the labor market remains tight," El-Erian wrote.
Persons: Mohamed El, Erian, , he's Organizations: Service, Project Syndicate, Federal Reserve, El Locations: Cambridge, El
Andrew Aitchison | In Pictures | Getty ImagesIn case you haven't noticed, heat pumps are hot. But there are other reasons why heat pumps are fast becoming popular with homeowners. All of this is transforming Carrier Global , the nearly 100-year-old manufacturer whose founder, Willis Carrier, invented air conditioning. Heat pumps have a history dating back to 1850s The thermodynamic science behind heat pumps was developed in the 1850s, when the first ones were invented, and they've been used in homes since the 1960s. Heat pumps use electricity to transfer heat from a cool space to a warm space, making the cool space cooler and the warm space warmer.
Persons: CARR, Andrew Aitchison, Willis Carrier, David Gitlin, Carrier, Hakan Yilmaz, Yilmaz, they've, Michael Kretschmer, Sebastian Kowalski, Kretschmer, Tobie Stanger, Dave Lis, Viessmann, Milena Oliveira, Oliveira, Mark Prodan, Prodan, There's Organizations: Carrier Global, United Technologies, Solutions, East Trade Policy, Getty, International Energy Agency ., U.S . Climate Alliance, Consumer, Energy Efficiency, Carrier, M, Energy Star Locations: Gardens , Florida, Saxony, Leipzig, America, U.S, Maine, Michigan, Indian, Connecticut, New York State
EV Charger Reviews evaluated the most electric vehicle-friendly states. They evaluated states based on factors including electricity costs and state tax credits. Maine was ranked the top state for EVs, followed by Colorado and Vermont. EV Charger Reviews used data from sources such as the US Department of Energy, the US Census Bureau, and the US Energy Information Administration to evaluate the EV factors in all 50 states. Each factor was assigned a numerical score and ranking, which helped determine the states' overall scores.
Persons: Maine Organizations: Colorado and, Service, US Department of Energy, Census Bureau, US Energy Information Administration Locations: EVs, Colorado, Colorado and Vermont
Drew Baglino, Tesla's SVP of powertrain and electrical engineering, resigned from Tesla on Sunday. The executive had worked at Tesla for over 18 years. AdvertisementDrew Baglino, Tesla's senior vice president of powertrain and electrical engineering, announced he'd left the company, becoming the latest major executive to depart Elon Musk's EV giant after the CFO stepped down in August last year. "I made the difficult decision to move on from Tesla after 18 years yesterday," Baglino wrote on X on Monday. "I am so thankful to have worked with and learned from the countless incredibly talented people at Tesla over the years.
Persons: Drew Baglino, Baglino's, Tesla, , Tesla's, he'd, Baglino, gratified Organizations: Tesla, Service, Elon, Business Locations: Tesla's
Tesla executives Drew Baglino and Rohan Patel announced Monday they are leaving the electric vehicle maker and clean energy company. CEO Elon Musk thanked both departing execs on X, the social network he owns and runs as chief technology officer. Baglino had worked with Tesla since its early years, starting as a firmware and electrical engineer in 2006. Patel and Baglino had been deeply involved in battery and vehicle manufacturing, related policy, and turning Tesla into a multinational EV manufacturer. Baglino wrote in a post on X:"I made the difficult decision to move on from Tesla after 18 years yesterday.
Persons: Drew Baglino, Rohan Patel, Elon Musk, execs, Tesla, Baglino, Patel, Barack Obama, gratified, Musk Organizations: Tesla, Reuters Locations: London, England
This could create a "China shock 2.0" that impacts other economies around the world. AdvertisementThis is just one of the industries the world is bracing for in the next phase of the "China shock." What happened in China shock 1.0? How Beijing could be creating China shock 2.0Now, China is targeting three new strategic industries that the rest of the world is also eyeing. What are the US and the rest of the world doing about China shock 2.0?
Persons: , Xi, David H, Autor, David Dorn, Gordon H, Hanson, Rajiv Biswas, who's, Biswas, keener, Janet Yellen, Yellen, it's, Wang Wenbin, Wang, Nomura Organizations: Service, Beijing, OECD, European Union, Department of Energy, Treasury, European Commission, EU, Act, Wall Street, Bloomberg Locations: China, EU, Beijing, Communist China, Georgia, Southeast Asia, Africa, Latin America
Its clean energy unit AGEL is building the sprawling solar and wind power plant in the western Indian state of Gujarat at a cost of about $20 billion. But the tycoon has since bounced back and the group is now pouring billions into the clean energy sector. It plans to invest $100 billion into energy transition over the next decade, with 70% of the investments ear-marked for clean energy. A worker walking past rows of solar panels at the Khavda Renewable Energy Park. “[Gautam] Adani continues to walk both sides of the street,” said Tim Buckley, director of Sydney-based think tank Climate Energy Finance.
Persons: can’t, ” Sagar Adani, Adani, He’s, Gautam Adani, Punit Paranjpe, AGEL, , haven’t, Hindenburg’s, Gautam, Narendra Modi, Modi, Tim Buckley, ” Buckley, Paranjpe, , that’s, ” Adani Organizations: New, New Delhi CNN —, CNN, Adani Green Energy, Adani, Khavda, Energy, Hindenburg, AGEL, Getty, International Energy Agency, Sydney, Climate Energy Finance Locations: New Delhi, Paris, Switzerland, India, Gujarat, Indian, Mundra, AFP, Pakistan, American, China, Europe, London, Africa, Australia
Darul Kisai, director of manufacturing and supply network operations, has dedicated 17 years to Procter & Gamble's Singapore plant. P&G benefits from the contributions of dedicated, top-tier talents like Kisai, who chose Singapore to pursue a meaningful career. Darul Kisai, manufacturing and supply network operations director, P&G, Singapore. "Singapore and P&G serve as magnets for top talent because they offer a platform where individuals can contribute significantly both professionally and personally." Here to stayFor those contemplating a move to Singapore, Kisai suggests conducting thorough research on potential employers and the country itself.
Persons: Kisai, Kris LeBoutillier, he's, I've, Darul Kisai, Organizations: Singapore, Procter, Gamble's, Massachusetts Institute of Technology, MIT, Procter & Gamble, Insider Studios, Singapore Economic Development Board Locations: Gamble's Singapore, Singapore, Asia, Malaysia, US, Darul Kisai, Darul, New York City, Pakistan
ChatGPT uses more than half a million kilowatt-hours of electricity daily, The New Yorker reported. NEW LOOK Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. The publication reported that the average US household uses around 29 kilowatt-hours daily. Dividing the amount of electricity that ChatGPT uses per day by the amount used by the average household shows that ChatGPT uses more than 17 thousand times the amount of electricity. "You're talking about AI electricity consumption potentially being half a percent of global electricity consumption by 2027," de Vries told The Verge.
Persons: , buzzy, Alex de Vries, de Vries, Vries, OpenAI Organizations: Yorker, Service, New Yorker, Dutch National Bank, Joule, Big Tech, Nvidia —, Cisco, New Street Research, CNBC, Samsung, Microsoft, Consumer Energy Solutions Locations: New, Kenya, Guatemala, Croatia
Victoria's Secret said it anticipates a larger-than-expected decline in revenues for the first quarter and full year. Novo Nordisk — Shares rallied nearly 8.9% to record high level after the company reported positive Phase I trial results for its new experimental weight loss drug amycretin. The company reported adjusted earnings of 61 cents per share on $1.68 billion in revenue for its fiscal fourth quarter. Analysts had estimated earnings of 50 cents per share on $1.67 billion in revenue, according to LSEG. Burlington Stores — The stock rose 7.5% after Burlington posted a fourth-quarter beat on adjusted earnings per share and revenue.
Persons: Victoria's, amycretin, TD Cowen, Shake Shack's, Kroger, LSEG, Iberdrola, Avangrid's, Mizuho, , Samantha Subin Organizations: Novo Nordisk —, American Eagle Outfitters, Burlington Stores, Burlington, New York Community Bancorp, Liberty Strategic, VanEck Semiconductor, Nvidia, Micron Technology, Stifel, Intel, Bloomberg Locations: Spanish
Is electric vehicle ownership bipartisan?
  + stars: | 2024-02-21 | by ( Alex | Leeds Matthews | ) edition.cnn.com   time to read: +6 min
The data doesn’t include each voter with an electric vehicle, but it does offer some insight into political attitudes among consumers. Currently, the most widely available electric vehicles options are luxury brands, while mainstream consumers have more limited options. “We’re also seeing that things are really changing over time… That speaks to the fact that the economic and pollution benefits of electric vehicles don’t obey political boundaries.”Still, public opinion research suggests interest in electric vehicles has some partisan roots, even if the landscape may be changing. A 2023 Gallup poll found that 71% of Republicans would not consider buying an electric vehicle, compared with 17% of Democrats. More than one-third of electric and plug-in hybrid electric vehicles were registered in California, according to data from the US Department of Energy in 2022.
Persons: , David Kieve, Donald Trump, , Stewart Stropp, Brett Williams, ” Williams, “ We’re, Kentucky —, Joe Biden, Williams, ” Kieve, Biden Organizations: Environmental Defense Fund, Republicans, Environmental Defense, Gallup, JD, Center for Sustainable Energy, Pew, Republican, Trump, US Department of Energy, EDF Locations: California, North Dakota, Kentucky
Avangrid CEO Pedro Azagra on #12 Just 100 ranking
  + stars: | 2024-02-07 | by ( ) www.cnbc.com   time to read: 1 min
In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailAvangrid CEO Pedro Azagra on #12 Just 100 rankingAvangrid CEO Pedro Azagra joins 'Squawk Box' to discuss the company's #12 ranking on Just Capital's annual Just 100 list, the sustainable energy sector, investments in clean energy, and more.
Persons: Pedro Azagra
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