Brendan Miller

Going #electric at home may appear daunting and costly. However, with state and federal incentives, this shift becomes more feasible. DSIRE's (screenshot below) platform simplifies identifying available state incentives for renewable energy and efficiency initiatives. Companies like Rock Rabbit, EnergySage, Encentiv Energy, Opower, Rebate Bus, Sense, Enervee, Powerley, and others are demystifying these incentives, making them more accessible to homeowners. Learn more in Climate People's latest #1MinuteClimateSnippet: https://buff.ly/3KyG3Nz .

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Yesterday, Politico posted another retelling of Stanford professor Mark Z. Jacobson's fantasy that U.S. electricity might, one day, be derived entirely from energy provided by wind, water, and sunlight (WWS). With his fellowship at Stanford's Precourt Institute of Energy, it would be easy to assume Jacobson's advocacy is motivated by financial interests - specifically, to promote sales of natural gas. Financing for the Institute, after all, came in the form of a $30 million gift from natural gas maven Jay Precourt - and the "renewable" sources of energy favored by Jacobson are dependent everywhere on backup generation from that fossil fuel. But for our purposes here, we'll assume less partial motives are driving his unwavering support for his hypothesis. Either that, or ignorance - because start to finish, his claims appear to have little basis in physics or electrical engineering. Politico's article begins by attributing the following claim to Jacobson: "On most days for the past month, renewable energy has powered 100 percent of California’s main grid for at least 15 minutes." A simple analysis of information publicly available from California's Independent System Operator (CAISO), however, reveals this claim to be 100 percent hoo-hah...nonsense. Why? Jacobson credits only the "renewable" ingredients of California's power mix with powering the state, but it isn't that simple. Those ingredients require natural gas plants to run constantly, smoothing their erratic generation. Without them, wind and solar would take California's grid down in a matter of minutes, or even seconds. Moreover, electricity demand must be met with supply, precisely and in real time. That the supply of wind, water, and solar, added together might equal demand at any moment is thoroughly a matter of chance - 100 percent uncontrollable. Between 9AM and 3PM, virtually every day of the year, home solar in the Golden State generates too much electricity, requiring CAISO to get rid of it. And forcing our unwanted electricity on our neighbors doesn't come cheap - we must buy it at "negative prices", i.e., pay them to take it off our hands. That California electricity customers are running out of patience with wind and solar is understandable. After Connecticut, our state now has the highest prices in the continental U.S., and it's all thanks to "renewable" energy. Enough is enough - it's 2024, and the time to reconsider California's 1960s-era plan to produce all of our power with clean, safe, and affordable nuclear energy is long overdue. There's no more time to waste.

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Hawaii’s energy transition is well underway, but recent reliability challenges have the potential to distract from recent success. Check out my latest article with Rick Rocheleau on the evolving grid reliability in Hawaii. “With prudent planning and the integration of new clean energy resources, Hawaii’s power grid can become more renewable, and more reliable, not less.” https://lnkd.in/gEdi_ggf

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My hot take today is about a little noticed announcement the U.S. Department of Energy (DOE) released quietly today. It has reopened an opportunity to fund carbon dioxide transportation networks. This is a positive and a much-needed development because Cipher reporting earlier this year revealed that many of the carbon storage projects are not just dependent on securing permits but also on delivering the captured CO2. Aware of the paucity of transport networks, DOE itself noted, the U.S. will need to capture and permanently store approximately 400–1,800 million metric tons of CO2 annually by 2050 to meet its commitments. https://lnkd.in/ef7JPEgr In other top reads by my colleagues, Cat Clifford highlighted a Bloomberg article that spotlights how Holtec International, a company involved in making nuclear waste storage casks, is now looking to revitalize a nuclear plant headed for decommissioning. And Bill Spindle reported about an upcoming gathering of corporate heads of fossil fuel and tech companies. We try to stay on top of breaking news about the global developments in the cleantech and climate space and share them with you so continue reading our Top Reads and Hot Takes at Cipher News. Cheers!

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Shocking statistic: 92% of all persistently impoverished communities are served by co-ops. 🤯 With 110 on bill financing programs around the country (mostly run by co-ops), the barriers have never been lower to reduce bills. So why are these communities still suffering? Barriers: Accessibility. Education. Capital. Accessibility: Going through an energy audit, sourcing and hosting 3-5 contractors, and filling out loan applications with little support is HARD. Even tougher to go through this process with confidence.... Education: Expertise is hard to come by in co-op territories and delivering it is expensive! Capital: Many on-bill programs still have credit checks, lengthy bill payment criteria, and small loan funds. In other words, to be successful these programs MUST: 1) Reduce the time intensity 2) Educate homeowners -- get them excited to move forward with confidence! 3) Lighter capital requirements and raise bigger loan funds Is there something else that I've missed? A big thank you to Miguel Yañez-Barnuevo (he, his) for penning this paper and for all his effort helping co-ops get access to the capital they need to help their members! ______________ I'm Grant Gunnison Click my name + follow + 🔔 to learn how to get off gas and electrify P.S. If you'd like early access to our platform, repost this! #onbill #batteries #renewables #heatpumps

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Several cleantech tools/platforms were worth highlighting this week Cloover expanded embedded financing solutions to increase renewable adoption. The average household says that coming up with over $1,000 would be difficult, yet countries want high rooftop solar penetration, which often requires upfront payments. Financing for rooftop solar expands the addressable market by eliminating prohibitive upfront costs. It will be interesting to see if they get pushback from providers that make margin on high-cost loans - hopefully they can win the market from those players. Verse recently completed its $20 million Series A to provide software that helps companies reduce electricity costs/emissions. Major companies, especially tech companies, are becoming energy companies as their emissions and power needs/costs become the most significant barriers to growth. They face accelerating power demand curves from AI while their emissions commitments are fast approaching - many picked 2030 for their environmental targets because it was a nice round number that seemed far away. We expect the scramble for solutions to continue and drive usage of Verse and other solution providers. Plural Energy recently completed a raise to expand its platform, which allows investors to access renewable investments. Expect democratized access to renewable investments to be a growing trend, as most public equities only offer varied exposure, and those investments are rarely primary funding that goes towards the completion of a project. Lots of good builders in this space, like Goparity | Impact finance, providing solutions. Take a look at our latest summary of these and many other useful tools in the comments.

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As we scale climate tech solutions, we need to carefully consider the impact to local communities. Thanks Evan Halper for a great front page article in today's The Washington Post that highlights this issue with a proposed CO2 storage plan in Montana. Injecting and storing CO2 in porous geological formations sounds scary, particularly given the negative side effects of fracking. I think the concerned ranchers in Montana are completely justified. But, we need to solve the climate crisis, and CO2 removal is an important part of the solution. This issue will continue as more and more first-of-a-kind (FOAK) projects break ground and expand. Early, frequent, and transparent community engagement is critical. #climatechange #climatesolutions #climateaction

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📢 Some big news this week that marks another pivotal step in the evolution of carbon markets… The Biden administration, led by Treasury Secretary Janet Yellen, will be unveiling the first broad US government guidelines on the use of carbon credits as part of decarbonization strategies. It’s a much needed step that will promote high-integrity carbon markets, and boost corporate confidence in using carbon credits. The Bloomberg article's sources suggest the upcoming framework will align with the government’s stance that: “voluntary carbon markets have a role in reaching net zero, as long as they promote high-integrity emissions reductions and channel meaningful amounts of capital into nature-based projects today as well as carbon-removal technologies in the future.” And that is the key. There is no silver bullet for the climate crisis. Whatever the critics may say about carbon credits, more transparency, clarity and official endorsement on their use will serve to unlock billions of much needed corporate dollars for carbon projects. Couple this news with recent initiatives by major tech companies like the Symbiosis Coalition of Google, Meta, Microsoft and Salesforce and we’re starting to stride in the right direction. Read more and sign up for the live stream: https://lnkd.in/ddDRA8yd #carbonmarkets #carboncredits #naturalcapital #climateaction #breakingnews

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A new study from Berkeley Lab and National Renewable Energy Laboratory showed that #CommunitySolar makes a big difference when it comes to equity! Community solar is 6x as likely to serve multi-family building residents, and 4x as likely to serve renters, as traditional rooftop #solar projects. It also serves people with lower incomes. #Accessibility, #affordability, and #equity are just some of the reasons I'm so thrilled to consult on community solar efforts with Cooperative Energy Futures. The work we do is about creating access to clean energy for ALL of us. https://lnkd.in/gFRMfYY2

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Yesterday, the DOE released its latest lift-off report on advanced grid technologies – it’s a fascinating and compelling read with some surprising and powerful take-aways. I’m summarizing the highlights here, but I would definitely recommend at least checking out the executive summary for its clarity and conviction. You can access the report here: https://lnkd.in/gMuFwx3c Highlights and key take aways: We all know the grid is experiencing an unprecedented increase in demand: data centers, AI, electric cars and the broader shift to electrify everything is expected to drive 91GW of peak demand growth in the next decade. This risks reversing so many recent decarbonization gains if the default response is to build new gas peaker plants and defer shuttering of existing coal generation. As laid out by the DOE, multiple grid solutions that are commercially available TODAY could increase effective transmission & distribution capacity by 20-100 GW, in other words, potentially allowing us to fully meet the coming surge in demand without the need for new generation capacity These solutions can be deployed in UNDER 3-5 YEARS and at LOWER COST and GREATER VALUE than conventional approaches. The types of technologies being described here fall into four categories: 1) Advanced transmission (e.g., high voltage direct current); 2) Situational awareness and system automation (e.g., advanced distribution management systems); 3.) Grid enhancing technologies (e.g., virtual power plants); and 4) Foundational systems (e.g., system digitization). Sadly, though not surprising, the report also finds “adoption at scale and associated industry know how is lagging largely due to a lack of industry incentives and prioritization” In other words, even though investing in these available technologies is cheaper and more effective than sticking with the status quo, its not happening. The report powerfully reminds us: “ The mandate of the United States electric grid and of its operators is to provide safe, reliable, and affordable power to customers.” And "The U.S. transmission and distribution grid requires significant investment to address these accelerating trends and pressures." In this moment of disruption, utilities, regulators and grid operators have such incredible power to support and accelerate the green transition; not just in the fight against climate change, but simply to move us toward a more dynamic, resilient and cost effective grid. In the past, when demand was flat, incremental, risk averse, business-as-usual approaches to infrastructure and capacity investment maybe could work; but in a moment where the future looks nothing like the past, actual long term, system-level strategic planning and innovation is needed. From interconnection fees to cost-plus payor rates, its time for us to cast off the vestiges of last century's model of centralized generation and distribution, and embrace a new identity for utilities in the 21st century.

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Utility companies are not created equally. Some have portals that allow consumers to directly access real-time data about the grid. For example, New York’s Con Edison has an API (Application Programming Interface) that allows third parties to import data easily into energy management systems. But, not all utilities are as sophisticated as the country’s oldest grid. “In a perfect world, every utility company in the U.S. would update their metering infrastructure and allow real estate and technology companies to access their pricing and demand information in real time via API,” said Gary Chance, CEO of Nantum AI. Unfortunately, most utility companies don’t have the incentives or resources to create and maintain such technology. The U.S. has thousands of electricity companies, a number that is growing due to the increasing prevalence of options for customers to choose where they get their power. There is a push to simplify the way carbon is reported, which will inevitably make utility data more standardized, but it could take a while before every utility in the country makes the switch. Until then, building managers will have to find ways to import utility data. The ability of software to lower a building’s energy bill and carbon footprint relies on utility data. Utilities also benefit from sharing this data, as demand can be lowered during times when the grid is most overworked. Forces are pushing utilities to be more sophisticated in how they share data, but it takes a lot of effort to move organizations as large and regulated as American utility providers. #energytransition #utilities #datasystems #meteringinfrastructure #api #renewableenergy #ai #worldgameworkshop #smartgrids

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4 separate sustainability magazines have now covered Bitcoin mining's positive environmental impacts 1. Bitcoin mining could help wind and solar development (Anthropocene Magazine) https://lnkd.in/g4jcraZH 2. How Bitcoin is aiding the renewable transition (Recharge Magazine) https://lnkd.in/gJ7ccvkS 3. Landfill Gas methane mitigated with Bitcoin Mining (Renewable Energy Magazine) https://lnkd.in/gvmzeTHV 4. Bitcoin mining is more sustainable than previously thought (One Green Planet) https://lnkd.in/gcsWcAyn Recently the San Francisco climate conference also recently featured a panel discussion on the environmental benefits on Bitcoin mining. The narrative could not be more different to what Bitcoin mining companies had to put up with in 2021. To be fair, some of the media criticism was warranted three years ago, and Bitcoin miners have done their part by successfully transitioning to 37% to 56% sustainable energy in just three years.

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Data from the International Energy Agency (IEA) illustrates the current "readiness" of #ClimateTechs + their potential impact on carbon reduction. As shown, many techs are at an early stage of being able to have a material impact. Concerningly, some tech funds recently returned capital back to investors recently + closed their funds - citing inability to fund capital intensive techs, found in areas like ClimateTech. This in part may be contributing to the $2 trillion shortfall in ClimateTech, that Deloitte estimates. What this may mean for the future? - The migration of LPs to global, super VC funds within ClimateTech, given the large capital pools needed to fund tech development - Greater specialization from smaller funds, energizing more niche elements of the ClimateTech market - but also altering their / LP's risk profile - A greater role to be played by debt financing in funding growth entities at an earlier stage - impacting cashflow dynamics Will be an interesting space to watch moving forward. We at The Proptech Connection are constantly working with all parts of the Proptech ecosystem. From the leading LPs, funds, techs and adopters in market, providing an independent view. Reach out to us today to find out how we can help. #InvestorTrends #Strategy #Global Ivo van Breukelen Stuart Daun Kiki C. Ethan Ward

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Financing electrification and renewable energy, one of my fav topics. 🤓⚡️ So I loved this panel at this year’s Mindful Money conference, chaired by Terina Williams of NZ Super Fund. Bill Murphy from Purpose Capital talked about a “human-centred energy system” and Matthew Ward from SolarZero noted that the energy transition isn’t just about increasing supply, it’s also about increasing flexibility. Expanding on this, John Campbell of Our Energy Limited talked about the importance of investing on the demand side. He asked: how are we digitising, decentralising and democratising our energy system? He also noted that, in energy, people often talk about the market deciding - but we made markets! 💡If we want to change the market, we *can* change it. And yet we’re in a situation where affordability and productivity have gone down 📉 and emissions have gone up 📈 but the energy system has stayed the same. Watts up with that? A great night: Mindful Money is a brilliant organisation which I’m lucky enough to have followed since it was a twinkle in Barry Coates’s eye. It’s something I walk my students through each year to show them their power to act as an investor, even if they’re only starting out on their savings journey. If you haven’t already used Mindful Money to screen your own Kiwisaver investment for fossil fuels, arms and other harmful investments, then try it here: https://mindfulmoney.nz And follow Rewiring Aotearoa to see what we’re doing to “fix the finance” for the electrification of homes, farms and communities: https://www.rewiring.nz

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I've been in #Iceland this week at Climeworks, the newest, largest direct air capture #carbon removal plant in the world. The technology is fascinating, but the speed to scale is the real story here. The co-CEO, Jan Wurzbacher, told me that while the plant can operate for up to 25 years, he'd rather it not because R&D is already outdoing itself, making the next plant more efficient and cheaper. Climeworks is now in the U.S. working on a plant in Louisiana. Soon DAC will pop up all over the nation, making it potentially as common as #wind and #solar farms. CNBC Orka náttúrunnar / ON Power Carbfix Lisa Rizzolo Sanfuentes #climate #climatechange #climatecrisis #carbonremoval #directaircapture #DAC

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Some great points made In The Climate Center's op-ed today in the Capitol Weekly about the positive budget impact of ending state subsidies to #fossilfuels and #oilcompanies -- as a way to meaningfully address the state's expected budget deficit in 2024-25 AND as a way to create a more level playing field with #alternativeenergy and add support for the needed #energytransition.

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Sharing this read on the wave-tops of nuclear policy (and a bonus book recommendation). I am super hopeful for a nuclear renaissance given some of the SMR momentum and seeing startups like Radiant, especially in the context of advancing low carbon-intensity energy availability for EV fleet charging use cases. https://lnkd.in/gYxAqC5X

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