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 Fahrenheit • It 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.
Image: David Ryder/Getty Images
Thermasol
