Sign In or Create an Account.

By continuing, you agree to the Terms of Service and acknowledge our Privacy Policy

Climate

Musk Is ‘Ready to Exit’ Washington

On Musk’s next move, earnings calls, and Earth Day EOs

Musk Is ‘Ready to Exit’ Washington
Heatmap Illustration/Getty Images

Current conditions: The windiest April in 50 years is causing problems for farmers in the Midwest and Southern Plains • New Delhi marked its hottest day of the year so far, with temperatures breaking 106 degrees FahrenheitIt was mild and sunny in Tokyo’s Yoyogi Park today, where tens of thousands celebrated Earth Day.

THE TOP FIVE

1. Musk is ‘ready to exit’ from government: report

Elon Musk is “ready to exit” the government because “he is tired of fielding what he views as a slew of nasty and unethical attacks from the political left,” The Washington Postreports. Though a timeline isn’t clear, much less confirmed, Musk’s special government employee status expires at the end of May.

Musk has dramatically reshaped the federal workforce during his short tenure of influence. His Department of Government Efficiency has been responsible for deep cuts to agencies like the Department of Energy and the National Oceanic and Atmospheric Administration, as we’ve covered at Heatmap. The efficiency agency’s work is not expected to cease if or when Musk exits, the Post adds. The Tesla CEO has repeatedly rubbed political insiders the wrong way by “failing to coordinate” with President Trump’s Cabinet and making embarrassing mistakes in his accounting of his team’s success, The New York Timesnotes.

2. All eyes on Tesla ahead of busy Q1 earnings calls week

Image: David Ryder/Getty Images

Speaking of Musk, in a week jam-packed with first-quarter earnings calls, none is more anticipated than Tesla’s on Tuesday. Dan Ives, an analyst for Wedbush Securities and one of Tesla’s most devoted bulls, has warned that CEO Elon Musk is staring down a “code red” moment due to his unpopular dallying in federal policy. “Anyone that thinks the brand damage Musk has inflicted is not a real thing, spend some time speaking to car buyers in the U.S., Europe, and Asia,” Ives wrote in a report to clients per CNN. Musk is also expected to face questions on “volume sales for 2025, progress on autonomous driving and plans for a robotaxi network, and how tariffs will impact profitability,” Bloombergwrites.

Here’s a look at other key Q1 earnings calls happening this week:

  • Tesla — Tuesday
  • Halliburton — Tuesday
  • Baker Hughes — Tuesday
  • NextEra — Wednesday
  • PG&E — Thursday
  • Xcel — Thursday

3. Environmental groups on edge ahead of Trump’s potential Earth Day executive orders

Environmental groups are bracing for executive orders aimed at rescinding their nonprofit status — orders that may be timed to coincide with Earth Day, Bloomberg and Inside Climate News report. Trump has suggested he’d soon be making statements about groups that are “so rich, so strong, and then they go so bad.” Although the available information is still largely based on rumors, insiders have suggested that nonprofits involved in legal work may be particularly vulnerable to targeting by the Trump administration. On Monday, however, EPA Administrator Lee Zeldin told the press that he does not support the government “broadly” reconsidering the tax-exempt status of climate groups, journalist Antonia Juhasz shared on Bluesky.

4. U.S. sets tariffs at over 3,500% for solar imports for some parts of Southeast Asia

On Monday, the U.S. finalized tariffs on solar imports from Southeast Asia, setting duties as high as 3,521%. The decision follows a “year-old trade case brought by American manufacturers that accuse their overseas rivals of flooding the market with unfairly cheap goods,” Reuters reports, though PV Magazinecalled the numbers released by the Commerce Department “unexpectedly high.” The four countries targeted in the decision include Vietnam, which faces rates as high as 395.9%; Thailand, with rates as high as 375.2%; Malaysia, as high as 34.4%; and Cambodia, with 3,521%, inflicted partially because of “the country’s decision to stop participating in the investigation,” Bloombergreports. The American Alliance for Solar Manufacturing Trade Committee celebrated the decision, with lead counsel Tim Brightbill saying, “It’s been a big day for U.S. solar manufacturing. We’re really happy with the results.”

5. Aramco, BYD team up to develop ‘innovative technologies’

Saudi state-owned oil company Aramco announced Monday that it has partnered with Chinese electric vehicle manufacturer BYD to collaborate on “the development of innovative technologies that enhance efficiency and environmental performance.” The decision will enable Aramco to broaden its investments in clean energy alternatives and support BYD’s global expansion, according to OilPrice.com. The agreement also includes “access to extensive R&D and operational infrastructure in the Middle East” for the EV-maker. BYD opened its first store in Saudi Arabia in February 2024; the Saudi government, meanwhile, has stated its intent to hit a 30% target for new energy vehicle technologies by 2030.

THE KICKER

New England recorded its lowest ever electricity demand on its six-state regional grid on Sunday, thanks in part to the region’s many “behind-the-meter” rooftop solar resources.

Yellow

You’re out of free articles.

Subscribe today to experience Heatmap’s expert analysis 
of climate change, clean energy, and sustainability.
To continue reading
Create a free account or sign in to unlock more free articles.
or
Please enter an email address
By continuing, you agree to the Terms of Service and acknowledge our Privacy Policy
Politics

AM Briefing: Senate Finance Puts Its Spin on IRA Tax Credit Cuts

On the Senate Finance Committee’s budget proposal, the NRC, and fossil-fuel financing

Senate Finance Puts Its Spin on IRA Tax Credit Cuts
Heatmap Illustration/Getty Images

Current conditions: A brush fire that prompted evacuations in Maui on Sunday and Monday is now 93% containedThe Des Moines metro area issued its first-ever ban on watering lawns due to record nitrate concentrations in nearby riversFor only the fourth time since 1937, Vancouver, British Columbia got no rain at all in the first half of June. The dry streak may finally break tonight.

THE TOP FIVE

1. Senate Slightly Softens House’s Cuts to the IRA

The Senate Finance Committee published its portion of the budget reconciliation bill on Monday night, including details of its highly anticipated plan to revise the nation’s clean energy tax credits. Though the Senate version slightly softens the House’s proposed phase out of tax credits, “the text would still slash many of the signature programs of the Inflation Reduction Act,” my colleagues Emily Pontecorvo and Robinson Meyer write in their breakdown of the bill. Other changes to be aware of include:

Keep reading...Show less
Yellow
The Capitol.
Heatmap Illustration/Getty Images

The Senate Finance committee published its highly anticipated tax proposal for Trump’s One Big, Beautiful Bill on Monday night, including a new plan to revise the nation’s clean energy tax credits.

Senate Republicans widened the aperture slightly compared to the House version of the bill, extending tax credits for geothermal energy, batteries, and hydropower, and preserving “transferability” — a crucial rule that allows companies to sell their tax credits for cash — for years to come.

Keep reading...Show less
Sustainability

How Trump’s ‘Golden Share’ Could Lead to Green Steel

Trump just quasi-nationalized U.S. Steel. That could help climate policy later.

Trump surrounded by steel bars.
Heatmap Illustration/Getty Images/Unsplash

The government is getting into the steel business. The deal between Japan’s Nippon Steel and U.S. Steel, long held off by the Biden administration due to national security and economic concerns, may finally happen, and the government will have a seat at the table. And some progressives are smarting over the fact that a Republican did it first.

On Friday, Nippon Steel and U.S. Steel announced “that President Trump has approved the Companies’ historic partnership,” which would include $11 billion in new investments and “a Golden Share to be issued to the U.S. Government” as well as “commitments” that include “domestic production” and “trade matters.”

Keep reading...Show less
Green