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On extreme flooding in North Carolina, another nuclear revival, and the U.K.’s last coal plant

Current conditions: Flooding and landslides in Nepal over the weekend killed almost 200 people • Storm John dumped more than three feet of rain on southern Mexico • An autumn heat wave is settling over the California coast.
The remnants of Hurricane Helene swept northeast over the weekend, bringing intense rainfall and catastrophic flooding to Central Appalachian states. Western North Carolina has been particularly hard hit. Asheville recorded about 18 inches of rain over three days, which is far more than the city typically sees in an entire month, and the resulting flooding is nothing short of devastating. At least 91 deaths have been recorded as a result of the storm but the death toll is expected to rise as the water recedes and the search for missing people continues.


While the worst of Helene has passed, more rain is still on the way for the region. More than 2 million customers are without power across the Carolinas, Georgia, Virginia, and Florida. Hundreds of roads are closed and some towns are completely isolated. “This will be one of the most significant weather events to happen in western portions of our area,” reported a weather service in western North Carolina. Vice President Kamala Harris has paused her 2024 presidential campaign to return to Washington and be briefed on the federal response to the storm. Republican presidential candidate Donald Trump will visit Georgia to survey the damage.
FEMA administrator Deanne Criswell said global warming made the damage from Helene worse. E&E News noted that Asheville had previously been described as a “climate haven,” and said the storm serves as a reminder that “no regions are immune to the dangers of climate-fueled disasters.” AccuWeather estimated that the total damage and economic loss from Helene will be between $145 billion and $160 billion. Many of the homes that have been inundated lack flood insurance, Bloomberg reported.
The Department of Energy and the Department of Agriculture announced Monday that they are together putting forward billions of dollars to support the re-opening of the Palisades nuclear power plant in Michigan — the first in U.S. history.
The plant was shuttered in 2022, and since 2023, state and federal officials have been working to reopen the plant — as have the plant’s owner, Holtec, and Wolverine Power, a power company that purchases power on behalf of its member utilities. Those efforts received a boost Monday morning with the closing of a $1.52 billion loan guarantee from the Department of Energy’s Loan Program Office, announced provisionally in March, and more than $1.3 billion in funds from the Department of Agriculture, split up between Wolverine Power and Hoosier Energy, a cooperative serving rural utilities in Indiana and Illinois. The USDA funds will defray a quarter of the cost of the power purchase agreement between the cooperatives and Palisades, Deputy Secretary of Agriculture Xochitl Torres Small told reporters.
The restarted plant would have some 800 megawatts of capacity, and the project will employ some 600 people, said Deputy Secretary of Energy Dave Turk on a call with reporters. The plant could be up and running in “a couple of years,” an administration official said. “The funds from this closed loan from the DOE announced today will be utilized in the necessary inspections, testing, restoration, rebuilding, and replacement of existing equipment,” the official said. Holtec is currently working with the Nuclear Regulatory Commission on reauthorizing its license to operate the plant.
The U.S. Forest Service is now working with the well-funded carbon removal startup Charm Industrial in a two-for-one endeavor to reduce wildfire risk and permanently remove carbon from the atmosphere, Heatmap’s Katie Brigham reported. The federal agency and its official nonprofit partner, the National Forest Foundation, have partnered with the San Francisco-based company on a pilot program to turn leftover trees and other debris from forest-thinning operations into bio-oil, a liquid made from organic matter, to be injected underground. The project is a part of a larger Cal Fire grant, to implement forest health measures as well as seek out innovative biomass utilization solutions. If the pilot scales up, Charm can generate carbon removal credits by permanently locking away the CO2 from biomass, while the Forest Service will finally find a use for the piles of leftover trees that are too small for the sawmill’s taste. The pilot is taking place in Inyo National Forest in the Eastern Sierra Nevada, and comprises 538 acres of forest. Charm is processing just 60 tons of biomass over six weeks of operation in Inyo. The pilot is already more than halfway over.
The United Kingdom was home to the world’s first coal-fired power plant, which opened in 1882. Today, it became the first G7 country to phase out coal as a source of electricity with the closure of its last coal-fired plant. As recently as 2012, nearly 40% of the country’s electricity came from coal. But since then, coal has seen a rapid decline. Fifteen coal power plants have shut down or switched fuels, and wind and solar power generation have soared. As a result, carbon emissions from the U.K.’s power sector have fallen by 74%, according to a report from energy think tank Ember. “U.K. policies have incentivised the rapid deployment of renewable energy over the last decade, while simultaneously tightening restrictions on high polluting coal power plants,” the report said. Wind power in particular grew by 315% from 2012 to 2023. What’s more, the move away from coal has happened even without a big shift to natural gas:

A gardener in Washington state has discovered a new flower that looks like a mashup between a daffodil and a dahlia. They’re calling it the Daffodahlia:
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One of the buzziest climate tech companies in our Insiders Survey is pushing past the “missing middle.”
One of the buzziest climate tech companies of the past year is proving that a mature, hitherto moribund technology — conventional geothermal — still has untapped potential. After a breakthrough year of major discoveries, Zanskar has raised a $115 million Series C round to propel what’s set to be an investment-heavy 2026, as the startup plans to break ground on multiple geothermal power plants in the Western U.S.
“With this funding, we have a six power plant execution plan ahead of us in the next three, four years,” Diego D’Sola, Zanskar’s head of finance, told me. This, he estimates, will generate over $100 million of revenue by the end of the decade, and “unlock a multi-gigawatt pipeline behind that.”
The size of the round puts a number to climate world’s enthusiasm for Zanskar. In Heatmap’s Insider’s Survey, experts identified Zanskar as one of the most promising climate tech startups in operation today.
Zanskar relies on its suite of artificial intelligence tools to locate previously overlooked conventional geothermal resources — that is, naturally occurring reservoirs of hot water and steam. Trained on a combination of exclusive subsurface datasets, modern satellite and remote sensing imagery, and fresh inputs from Zanksar’s own field team, the company’s AI models can pinpoint the most promising sites for exploration and even guide exactly what angle and direction to drill a well from.
Early last year, Zanskar announced that it had successfully revitalized an underperforming geothermal power plant in New Mexico by drilling a new pumped well nearby, which has since become the most productive well of this type in the U.S. That was followed by the identification of a large geothermal resource in northern Nevada, where exploratory wells had been drilled for decades but no development had ever occurred. Just last month, the company revealed a major discovery in western Nevada — a so-called “blind” geothermal system with no visible surface activity such as geysers or hot springs, and no history of exploratory drilling.
“This is a site nobody had ever had on the radar, no prior exploration,” Carl Hoiland, Zanskar’s CEO, told me of this latest discovery, dubbed “Big Blind.” He described it as a tipping point for the industry, which had investors saying, “Okay, this is starting to look more like a trend than just an anomaly.”
Spring Lane Capital led Zanskar’s latest round, which also included Obvious Ventures, Union Square Ventures, and Lowercarbon Capital, among others. Spring Lane aims to fill the oft-bemoaned “missing middle” of climate finance — the stage at which a startup has matured beyond early-stage venture backing but is still considered too risky for more traditional infrastructure investors.
Zanskar now finds itself squarely in that position, needing to finance not just the drills, turbines, and generators for its geothermal plants, but also the requisite permitting and grid interconnection costs. D’Sola told me that he expects the company to close its first project financing this quarter, explaining that its ambitious plans require “north of $600 million in total capital expenditures, the vast majority of which will come from non-dilutive sources or project level financing.”
Unsurprisingly, the company anticipates that data centers will be some of its first customers, with hyperscalers likely working through utilities to secure the clean energy attributes of Zanskar’s grid-connected power. And while the West Coast isn’t the primary locus of today’s data center buildout, Hoiland thinks Zanskar’s clean, firm, low-cost power will help draw the industry toward geothermally rich states such as Utah and Nevada, where it’s focused.
“We see a scenario where the western U.S. is going to have some of the cheapest carbon-free energy, maybe anywhere in the world, but certainly in the United States.” Hoiland told me.
Just how cheap are we talking? Using the levelized cost of energy — which averages the lifetime cost of building and operating a power plant per unit of electricity generated — Zanskar plans to deliver electricity under $45 per megawatt-hour by the end of this decade. For context, the Biden administration set that same cost target for next-generation geothermal systems such as those being pursued by startups like Fervo Energy and Eavor — but projected it wouldn’t be reached 2035.
At this price point, conventional geothermal would be cheaper than natural gas, too. The LCOE for a new combined-cycle natural gas plant in the U.S. typically ranges from $48 to $107 per megawatt-hour.
That opens up a world of possibilities, Hoiland said, with the startup’s’s most optimistic estimates showing that conventional geothermal could potentially supply all future increases in electricity demand. “But really what we’re trying to meet is that firm, carbon-free baseload requirement, which by some estimates needs to be 10% to 30% of the total mix,” Hoiland said. “We have high confidence the resource can meet all of that.”
On New Jersey’s rate freeze, ‘global water bankruptcy,’ and Japan’s nuclear restarts
Current conditions: A major winter storm stretching across a dozen states, from Texas to Delaware, and could hit by midweek • The edge of the Sahara Desert in North Africa is experiencing sandstorms kicked up by colder air heading southward • The Philippines is bracing for a tropical cyclone heading toward northern Luzon.
Mikie Sherrill wasted no time in fulfilling the key pledge that animated her campaign for governor of New Jersey. At her inauguration Tuesday, the Democrat signed a series of executive orders aimed at constraining electricity bills and expanding energy production in the state. One order authorized state utility regulators to freeze rate hikes. Another directed the New Jersey Board of Public Utilities “to open solicitations for new solar and storage power generation, to modernize gas and nuclear generation so we can lower utility costs over the long term.” Now, as Heatmap’s Matthew Zeitlin put it, “all that’s left is the follow-through,” which could prove “trickier than it sounds” due to “strict deadlines to claim tax credits for renewable energy development looming.”
Last month, the environmental news site Public Domain broke a big story: Karen Budd-Falen, the No. 3 official at the Department of the Interior, has extensive financial ties to the controversial Thacker Pass lithium mine in northern Nevada that the Trump administration is pushing to fast track. Now The New York Times is reporting that House Democrats are urging the Interior Department’s inspector general to open an investigation into the multimillion-dollar relationship Budd-Falen’s husband has with the mine’s developer. Frank Falen, her husband, sold water from a family ranch in northern Nevada to the subsidiary of Lithium Americas for $3.5 million in 2019, but the bulk of the money from the sale depended on permit approval for the project. Budd-Falen did not reveal the financial arrangement on any of her four financial disclosures submitted to the federal government when she worked for the Interior Department during President Donald Trump’s first term from 2018 to 2021.
House Republicans, meanwhile, are planning to vote this week to undo Biden-era restrictions on mining near more than a million acres of Minnesota wilderness. “Mining is huge in Minnesota. And all mining helps the school trust fund in Minnesota as well. So it benefits all schools in the state,” Representative Pete Stauber, a Minnesota Republican and the chair of the Natural Resources Subcommittee on Energy and Mineral Resources, said of the rule-killing bill he sponsored. While the vote is expected to draw blowback from environmentalists, E&E News noted that it could also agitate proceduralists who oppose the GOP’s continued “use of the rule-busting Congressional Review Act for actions that have not been traditionally seen as rules.” Still, the move is likely to fuel the dealmaking boom for critical minerals. As Heatmap’s Katie Brigham wrote in September, “everybody wants to invest” in startups promising to mine and refine the metals over which China has a near monopoly.
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A new United Nations report declares that the world has entered an era of “global water bankruptcy,” putting billions of people at risk. In an interview with The Guardian, Kaveh Madani, the report’s lead author, said that while not every basin and country is directly at risk, trade and migration are set to face calamity from water shortages. Upward of 75% of people live in countries classified as water insecure or critically water insecure, and 2 billion people live on land that is sinking as groundwater aquifers collapse. “This report tells an uncomfortable truth: Many critical water systems are already bankrupt,” Madani said. “It’s extremely urgent [because] no one knows exactly when the whole system would collapse.”

The Democratic Republic of the Congo has given the U.S. government a vetted list of mining and processing projects open to American investment. The shortlist, which Mining.com said was delivered to U.S. officials last week, includes manganese, gold, and cassiterite licenses; a copper-cobalt project and a germanium-processing venture; four gold permits; a lithium license; and mines producing cobalt, gold, and tungsten. The potential deals are an outgrowth of the peace agreement Trump brokered between the DRC and Rwanda-backed rebels, and could offer Washington a foothold in a mineral-rich country whose resources China has long dominated. But establishing an American presence in an unstable African country is a risky investment. As I reported for Heatmap back in October, the Denver-based Energy Fuels’ $2 billion mining project in Madagascar was suddenly thrown into chaos when the island nation’s protests resulted in a coup, though the company has said recently it’s still moving forward.
The Tokyo Electric Power Company is delaying the restart of the Kashiwazaki Kariwa nuclear power station in western Japan after an alarm malfunction. The alarm system for the control rods that keep the fission reaction in check failed to sound during a test operation on Tuesday, Tepco said. The world’s largest nuclear plant had been scheduled to restart one of its seven reactors on Tuesday. Fuel loading for the reactor, known as Unit 6, was completed in June. It’s unclear when the restart will now take place.
The delay marks a setback for Prime Minister Sanae Takaichi, who has made restarting the reactors idled after the 2011 Fukushima disaster and expanding the nuclear industry a top priority, as I told you in October. But as I wrote last month in an exclusive about Japan’s would-be national small modular reactor champion, the country has a number of potential avenues to regain its nuclear prowess beyond just reviving its existing fleet.
As a fourth-generation New Yorker, I’m qualified to say something controversial: I love, and often even prefer, Montreal-style bagels. They’re smaller, more efficient, and don’t deliver the same carbohydrate bomb to my gut. Now the best-known Montreal-style bagel place in the five boroughs has found a way to use the energy needed to make their hand-rolled, wood-fired bagels more efficiently, too. Black Seed Bagels’ catering kitchen in northern Brooklyn is now part of a battery pilot program run by David Energy, a New York-based retail energy provider. The startup supplied suitcase-sized batteries for free last August, allowing Black Seed to disconnect from ConEdison’s grid during hours when electricity rates are particularly high. “We’re in the game of nickels and dimes,” Noah Bernamoff, Black Seed’s co-owner, told Canary Media. “So we’re always happy to save the money.” Wise words.
Rob talks through Rhodium Groups’s latest emissions report with climate and energy director Ben King.
America’s estimated greenhouse gas emissions rose by 2.4% last year — which is a big deal since they had been steady or falling in 2023 and 2024. More ominously, U.S. emissions grew faster than our gross domestic product last year, suggesting that the economy got less efficient from a climate pollution perspective.
Is this Trump’s fault? The AI boom’s? Or was it a weird fluke? In this week’s Shift Key episode, Rob talks to Ben King, a climate and energy director at the Rhodium Group, about why U.S. emissions grew and what it says about the underlying structure of the American economy. They talk about the power grid, the natural gas system, and whether industry is going to overtake other emissions drivers as once thought.
Shift Key is hosted by Robinson Meyer, the founding executive editor of Heatmap, and Jesse Jenkins, a professor of energy systems engineering at Princeton University. Jesse is off this week.
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Here is an excerpt from our conversation:
Robinson Meyer: At the same time there’s been rising total electrification of the vehicle fleet, there’s also been rising hybrid and plug-in hybrid sales. Do we have a sense of how that breakdown is happening, in terms of reduced carbon intensity of the transportation sector and the light duty fleet?
Ben King: It’s a good question. We haven’t disaggregated the … When I say electric vehicles, I’m talking broadly about both full battery electric, and then plug-in hybrids. And then, I think we say this in paper, but I think there was pretty robust growth for gasoline hybrids as which, you know, relative to just a pure gas car, is better from an emissions perspective.
Meyer: Well, it’s funny because if you care about decarbonization and getting to net zero as soon as possible, you could have to poo poo hybrids. But if you’re actually involved in the game to just keep as much emissions out of the sky as possible, and you’re looking to net those 2% declines every year, hybrids are pretty important because they are basically a drop-in replacement to gasoline car use that burns less gasoline.
King: The other interesting thing that gasoline hybrids does for the sector is it finds interesting unanticipated uses for all this battery manufacturing capacity that we’ve built in the U.S., or that we stand to build. Our forecast for pure EVs — so battery electrics, plug-in hybrids — looks a little worse in the out years because of the tax credits going away, because of the EPA tailpipe regulations going away at the same time that the anticipated demand pull from those policies, plus the advanced manufacturing tax credit — the 45X tax credit — has really been wildly successful in standing up a battery manufacturing industry here in the U.S.
If you want that capacity to be around, one thing that you could do with those batteries is put them into hybrids, right? You might have to retool the line a little bit to accommodate different sizes and stuff, build the expertise, build the workforce, etc., such that when the floodgates open again for electric vehicle adoption, for instance, we’ve got substantial battery manufacturing capacity here domestically.
Mentioned:
Rhodium Group: Preliminary US Greenhouse Gas Emissions Estimates for 2025
Rob on Rhodium’s 2023 emissions report
And here’s Rhodium’s 2024 emissions report
This episode of Shift Key is sponsored by …
Heatmap Pro brings all of our research, reporting, and insights down to the local level. The software platform tracks all local opposition to clean energy and data centers, forecasts community sentiment, and guides data-driven engagement campaigns. Book a demo today to see the premier intelligence platform for project permitting and community engagement.
Music for Shift Key is by Adam Kromelow.