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Economy

Chris Wright and Donald Trump.
AM Briefing

‘Messy’ at Energy

On Detroit layoffs, critical mineral woes, and China hawks vs. cheap energy

AM Briefing

All For Solar

On the cobalt conundrum, Madagascar’s mining mess, and Antarctica’s ‘Greenlandification’

Red
AM Briefing

Atoms on Prime

On a new loan guarantee, a Nord Stream 2 revival, and AI-aided oil recovery

Yellow
AM Briefing

The Firings Begin

On Interior’s denial, ethane exports surge, and Spain’s grid fears

Red
Phillippe Aghion.

The Latest Nobel Winner Thinks ‘Creative Destruction’ Can Stop Climate Change

Economist Philippe Aghion views carbon taxes as a tool to decarbonize, but not a solution in themselves.

Yellow
Spencer Cox.

‘This Is How We Lose’

On Corpus Christi’s drought, China’s Scottish factory, and no more ships to give

Blue
AM Briefing

Solar Megaproject Goes Dark

On the Chevy Bolt’s return, China’s rare earth crackdown, and Nestle’s spoiled climate push

Solar panels.
<p>Heatmap Illustration/Getty Images</p>

Current conditions: A possible nor’easter is barreling toward New York City with this weekend with heavy rain, flooding, and winds of up to 50 miles per hour • While Hurricane Priscilla has weakened to a tropical storm, it’s still battering Baja California with winds of up to 70 miles per hour • A heatwave in Iran is raising temperatures so much that even elevations of more than 6,500 feet are nearly 90 degrees Fahrenheit.

THE TOP FIVE

1. Trump cancels Nevada’s largest solar megaproject

The Bureau of Land Management has canceled Nevada’s largest solar megaproject, Esmeralda 7, Heatmap’s Jael Holzman scooped late Thursday. The sprawling network of panels and batteries in the state’s western desert was set to produce a gargantuan 6.2 gigawatts of power — equal to nearly all the power supplied to the southern part of the state by the state’s main public utility. At maximum output, the project could have churned out more power than the country’s largest nuclear plant, the nearly 5 gigawatts from Plant Vogtle’s four reactors in Georgia, and just under the nearly 7.1-gigawatt Grand Coulee hydroelectric dam in Washington, the nation’s most powerful electrical station. It would have been one of the largest solar projects in the world.

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AM Briefing

Geothermal Chill

On billions for clean energy, Orsted layoffs, and public housing heat pumps

Gavin Newsom.
<p>Heatmap Illustration/Getty Images</p>

Current conditions: A tropical rainstorm is forming in the Atlantic that’s forecast to barrel along the East Coast through early next week, threatening major coastal flooding and power outages • Hurricane Priscilla is weakening as it tracks northward toward California • The Caucasus region is sweltering in summer-like heat, with the nation of Georgia enduring temperatures of up to 93 degrees Fahrenheit in October.

THE TOP FIVE

1. Two deals worth billions highlight a bright spot for clean energy

Base Power, the Texas power company that leases batteries to homeowners and taps the energy for the grid, on Tuesday announced a $1 billion financing round. The Series C funding is set to supercharge the Austin-based company’s meteoric growth. Since starting just two years ago, Base has deployed more than 100 megawatts of residential battery capacity, making it one of the fastest growing distributed energy companies in the nation. The company now plans to build a factory in the old headquarters of the Austin American-Statesman, the leading daily newspaper in the Texan capital. The funding round included major investors who are increasing their stakes, including Valor Equity Partners, Thrive Capital, and Andreessen Horowitz, and at least nine new venture capital investors, including Lowercarbon, Avenir, and Positive Sum. “The chance to reinvent our power system comes once in a generation,” Zach Dell, chief executive and co-founder of Base Power, said in a statement. “The challenge ahead requires the best engineers and operators to solve it and we’re scaling the team to make our abundant energy future a reality.”

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