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Heat pumps are cool. Neighborhood geothermal might be cooler.

A landmark project with major implications for how Americans could cleanly heat and cool their homes broke ground in Framingham, Massachusetts, on Monday.
Eversource, the largest gas and electric utility in New England, began construction on its first “networked geothermal” system. The company will connect 32 residential and five commercial buildings in a single neighborhood to underground water pipes, which will draw on the steady temperature of the ground beneath the earth’s surface to air condition and heat the buildings without fossil fuels.
Clean energy advocates across the country are looking to the demonstration as a test of the idea that natural gas utilities can remain in business in a decarbonized world by managing a network of pipes filled with water instead of climate-warming gas.
“I would say it's not just being watched nationally, it's being watched globally,” Zeyneb Magavi, the co-executive director of the Massachusetts-based clean energy nonprofit HEET, told me. Magavi and her partner, Audrey Schulman, dreamed up the idea of transforming gas utilities into geothermal utilities several years ago, and were instrumental in getting Eversource to consider the project.
“If they succeed enough, and I have no doubt they will, they're gonna be the founding install of a new utility that's going to be the foundation of our future energy system,” she said. “It's not that often that you get to give birth to a new utility.”
Geothermal heating systems have been around for nearly a century, and are known for being incredibly efficient. You may have heard of air-source heat pumps, commonly referred to simply as heat pumps, which function like an air conditioner in the summer and a furnace in the winter by transferring heat inside and outside the building. Geothermal heat pumps work similarly, but they use the ground as a source and sink for heat, rather than the ambient air. (They are different, but related to geothermal power plants, which tap into much hotter reservoirs underground to generate electricity.) Since the ground is a more stable temperature than the air, geothermal heat pumps require less energy. Networked geothermal systems have the potential to reduce energy use even more.
Many individual homes and buildings run on geothermal heating systems today, but all the drilling and piping translates into big upfront costs. Magavi told me the spark of HEET’s idea for a neighborhood-wide system dates back to 2008, when she wanted to install geothermal at her own home, but couldn’t afford it. Later, when she joined HEET and began thinking about what a future without gas could look like, she and Schulman discovered geothermal projects elsewhere in the country, such as a small town in Iowa, and a college campus in Colorado, where multiple buildings were linked to the same pipes. The systems didn’t seem all that different from the gas distribution networks they were looking to replace.
The project in Framingham involves building a new set of pipelines alongside the gas system. Each participating building will get a service pipe connecting it to a main horizontal line that runs through the neighborhood, which is in turn connected to a series of vertical lines that go about 500 feet deep. Water runs through the system, bringing heat up from the ground and delivering it to heat pumps inside the buildings in the winter, or absorbing heat from the homes and dumping it back underground in the summer.

The whole system is expected to be up and running by the fall. Eversource estimates the project will cost $14.7 million, and has received approval from regulators to pay for it with ratepayer funds, spread across its entire customer base. Participants will not pay any additional fees on top of the cost to run the heat pump equipment on their electricity bill. They will retain their existing heating and cooling systems, and will have the option to go back to them after the two-year pilot period.
Residents could see a 20% reduction in energy costs, according to Eversource, and around a 60% decrease in carbon emissions, taking into account the current electricity supply. The company will be gathering data throughout the pilot to confirm the actual cost, energy, and carbon savings of the project. “We also want to make a strong business case for why this should be done by the utility and why it makes sense for us to be building out systems like this,” said Eric Bosworth, the senior program manager for clean technologies at Eversource.
Magavi and Schulman see networked geothermal as an elegant solution to one of the biggest challenges of tackling climate change: avoiding what’s known as the utility death-spiral. If people begin swapping out their natural gas heaters for electric heat pumps, they will drive up costs for remaining gas customers, which will motivate more people to go electric, and inflate gas bills even more.
Geothermal presents a path for utilities to retain their customers. They already have the expertise to build and manage underground pipelines and heating equipment. And Magavi argues that if utilities take on the up front costs, it would give people more equitable access to clean energy. “You can just sign up with the utility — you don't have to have upfront capital, knowledge, or time,” she said. “That equity of access is something that is necessary for a just transition.”
If geothermal heating and cooling were to really take off, it could also help with another major climate challenge — the electric grid. The switch to electric vehicles and heat pumps is going to require a massive expansion of clean electricity resources and transmission and distribution wires. Widespread adoption of geothermal heat pumps could minimize that buildout. Boswoth told me that geothermal networks could be strategically deployed in areas that are electrically constrained.
Many climate advocates also like the idea because it presents a clear transition opportunity for natural gas workers, like those in the Plumbers and Pipefitters Union that build and maintain gas pipelines. “Networked geothermal systems could be a promising option for providing high road job opportunities to these workers,” Jenna Tatum of the Building Electrification Institute told me.
But that’s one aspect of the promise of networked geothermal that the Framingham project won’t be demonstrating. Eversource hired a third party construction company and hasn’t entered an agreement with any unions yet, although Bosworth said the company was actively engaged with the Pipefitters Union regarding longer-term geothermal plans.
The pilot in Framingham will be the first networked geothermal system operated by a utility, but it definitely won’t be the last. Massachusetts regulators have approved a handful of additional networked geothermal projects to be owned and operated by Eversource and another gas utility, National Grid. New York State is also moving forward on a number of utility-owned pilots. Several other states, like Minnesota, have also passed laws that encourage gas utilities to pursue geothermal.
“We expect that we're going to see a pretty significant pilot proposal in [utility] plans modeled after the work that's been done out East,” Joe Dammel, managing director of buildings for Fresh Energy, a Minnesota-based clean energy nonprofit, told me.
One challenge that’s come up as the idea has taken off is that no one can seem to agree about what it should be called. While the term is “networked geothermal” in Massachusetts, New York is using “thermal energy network.” Magavi said it’s also been referred to as “community geothermal,” a “thermal highway,” an ATL or “ambient temperature loop,” a “heatnet” and a “5G” network. All of this is further complicated by the fact that the terms “geothermal energy,” “heat pumps,” and “district energy,” can all refer to fundamentally different technologies.
“It’s a nightmare,” she told me. She said she’s initiated a campaign with the National Renewable Energy Laboratory and the Department of Energy to set language standards. “There’s a survey currently going out to everyone to ask them what they think about all the different names.”
The Framingham pilot could be significantly expanded if all goes well. HEET collaborated with Eversource to apply for funding from the Department of Energy for a second networked geothermal system in the city that would be connected to the first one, and was recently awarded a $717,000 grant.
Advocates like Magavi hope these projects will turn into a full-on transition strategy for utilities to move away from a business model based on gas or other fuels. At the groundbreaking on Monday, Eversource chairman, president, and CEO Joe Nolan made a bold statement that seemed to support that notion. “As we transition to a carbon-free future, this is going to be the answer for everybody,” he said. “And it’s all starting right here.”
But when I talked to Bosworth, he qualified that at this point the company sees geothermal as one “tool in the proverbial toolbelt.” Like many utilities, Eversource is also exploring the potential to deliver lower-carbon fuels like biogas and hydrogen through its gas lines.
“We want to take a look at any and all potential pathways and really vet them for what is viable, and what works where,” Bosworth told me. “We will use a combined approach to get to our carbon neutrality goals.”
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The local government of Boulder City, Nevada had previously rejected a proposal for the computing facility, which would draw power from the existing electricity supply.
The U.S. government for the first time approved a data center on federal lands. What the Trump administration is pitching as a demonstration of bureaucratic speed and ambition in the era of artificial intelligence, however, is turning into the same sort of mysterious backroom deal that’s upsetting other communities.
On Monday, the Bureau of Land Management announced that it would allow a large AI data center to be built on a plot of federal land technically within the limits of Boulder City, Nevada. The approval was initially granted as a right-of-way in 2023 for the second phase of a solar project known as Townsite Solar, to be built by a joint venture between Skylar Opportunities LLC, a subsidiary of Houston energy trader Bill Perkins’ investment firm, and renewables developer Arevon. (Ironically, Perkins also just launched an ETF to profit from higher electricity demand.)
Earlier this year, the LLC overseeing the project — itself named Townsite Solar 2 — notified the city that it would change tack and instead construct a large data center on the site. There would be no new power generation installed — rather, the facility would hook up directly to an existing substation. This time, the backlash was immediate and fierce, and led Boulder City’s planning commission to reject the data center within city limits.
Quietly, Townsite Solar 2 had prepared a backup plan: The project would shift to federal land that was already approved to use for the second phase of the solar farm. It wasn’t until early July that the Boulder City government and its residents learned that BLM had given Townsite Solar 2 permission to advance the data center without any new public hearings or comment periods. According to BLM, the data center would be essentially like a solar farm, so it wouldn’t require any new review.
“The BLM concluded that the new proposed action — a data center — is essentially the same,” city government attorney Brittany Walker told the Boulder City council at a July 14 public hearing. “This is a departure from previous precedent and procedure as the BLM essentially sweepingly approved a new land use without following processes in federal law.”
Boulder City is now fighting the federal assessment. Walker claimed at the July 14 hearing they weren’t notified ahead of time that Townsite Solar 2 would be so quickly approved and built on this parcel of federal acreage, a form of government-to-government communication often required under federal land use planning statutes.
Mystery continues to swirl around what BLM did here — and how Townsite Solar 2 got the agency to do it.
Nada Culver, who served as No. 2 at BLM under the Biden administration, told me that BLM had veered from the usual course of business in approving this data center. Consulting local governments before a decision is made “sits at the heart” of the Federal Land Management and Policy Act, which is the primary statute governing BLM’s land use decision-making, she said. Both that law and the National Environmental Policy Act are “supposed to involve the government actually looking at environmental impacts and sharing them. so it’s not responsible or arguably even legal for the BLM to say, ‘We aren’t going to look at those impacts or share them with the public,” she added.
Boulder City officials have said this is the first major data center approval on federal lands, to their knowledge. Culver told me she believed that to be true, and hadn’t heard of such a thing happening before. “This isn’t a niche BLM issue, so to try and say this is just another use when we’re all surrounded with this loud discussion at the national level about data centers is particularly stark.”
Patrick Donnelly of the Center for Biological Diversity told me his organization and the Sierra Club, another legacy conservation group, are planning a separate legal challenge, one they say is intended to stop more such swaps from happening. Donnelly noted that at least two more data center projects — both powered by on-site gas — are poised to start the federal permitting process at any moment, according to the BLM’s online materials.
“This is the first one, and it’s going to set the stage for these things on public lands, and we can’t let this happen,” he told me.
The timing of this fight couldn’t be worse for the Trump White House, as officials try to pivot towards a “feel your pain” message ahead of the 2026 midterm elections. On Thursday, utilities and data center developers joined Trump cabinet officials at the Environmental Protection Agency for a joint event promoting the administration’s Ratepayer Protection Pledge, a voluntary set of industry practices geared toward ensuring the cost of AI infrastructure isn’t borne by those living near it.
With the BLM’s decision to advance the data center on federal land, Boulder City will lose an estimated $2.3 million in annual leasing and taxation revenue that it would’ve received if the project were built on city land, according to the Las Vegas Review-Journal. If the project is built on BLM land, Boulder City officials have said they’ll still be forced to front the cost for water and sewage hookup to the facility, as well as road maintenance.
Townsite Solar 2 told me in an unattributed statement that it wants Boulder City “to receive the greatest possible revenue and contribution benefits from the project, regardless of siting on federally-owned or city-owned land.”
“TS2 wants the project to provide meaningful, measurable benefits for Boulder City residents, local businesses, and the broader community. Our goal is to develop a responsible, sustainable project that Boulder City can be proud of and that can serve as a national model.”
The people I talked to for this story were largely flummoxed at BLM’s determination that the data center would be “essentially like” the solar farm that was approved in 2023. “These are two unrelated projects,” Culver told me. “I find it very hard to see how this would not trigger the need for a new analysis or public engagement.”
BLM’s logic made my head hurt, too. Among other things, the agency said “both proposals will use the exact same location, same acreage, and same perimeter,” and “both are proposals for industrial uses that will operationalize cutting-edge technologies that are predominantly electrical and solid state in nature.” The agency also claimed the data center was just like the solar farm because construction would take approximately the same amount of time, and would involve facilities and changes that “are visually geometric and less than 30 feet in height.”
You could describe a data center this way, but you could also describe any other number of things this way: a grocery store, a factory, a rollercoaster.
When I asked BLM for comment, a spokesperson simply sent me back the text used in the press release announcing Townsite Solar 2’s data center approval. A press representative for Townsite Solar 2 declined to provide details about who handled government affairs for the data center project, except to say that it hadn’t hired any federal lobbyists.
Some of Trump’s loudest critics told me they think this deal happened because Arevon, a joint partner described as a key financier in the project’s application with Boulder City, hired lobbyists with The Bernhardt Group, a government relations firm created last year by former Trump Interior Secretary David Bernhardt. Arevon hired the firm around the same time Townsite Solar 2 initiated the process to use the federal land for the data center, according to federal disclosures.
I have a history with Bernhardt. After leaving the Trump administration in 2021, Bernhardt went on to run the Trumpworld think tank America First Policy Institute and released a tell-all book, You Report to Me, that called for the bureaucracy to stand down against — as he put it to me — “the interests of the executive.” (I interviewed him around the time of its publication, after which he gave me an unsolicited copy of the book that I keep at my bedside as a form of dark humor.)
These days Bernhardt’s firm represents oil interests, including energy companies, mining, and large-scale agricultural interests that use lots of water (think: almonds). But it’s also pitching itself to the AI energy commentariat. In May, the former Interior secretary authored an op-ed in The Washington Examiner calling for rapid investment in U.S. artificial intelligence infrastructure. He then took to right-wing TV network Newsmax to promote the column, arguing that people fighting to stop data centers were just trying to “oppose the president’s vision for energy dominance.”
It would be easy to point at these federal disclosures and online comments and claim this bizarre data center land use swap is the work of a familiar Trump-era boogeyan. Except Arevon was effusive to me in saying that is not what happened here. In a statement, the company said that it’s a passive member of the joint venture, holds less than 25% ownership stake, and has “not directly hired consultants or lobbyists for this project.”
I didn’t get a response from Overwatch, a data center engineering and design firm contracted to help with the project. Overwatch does have a director of government affairs, but their hire was announced months after the application would have been submitted to BLM.
This leaves us sleuths to conclude the likeliest reason this happened is also the most obvious one: Trump just wants data centers on federal lands, and this was a way to make that happen. What happens next will have enormous implications for the future of data center development and federal land use in the United States, especially if more companies facing federal permit stonewalling seek to turn their solar farm permits into permission to build AI infrastructure.
Investors are piling into startups that promise to solve hard problems using little energy. But that doesn’t mean the answer is ‘yes.’
Physicists have spent decades trying to apply the laws of quantum mechanics to the physical world in the form of quantum computers, devices that promise to solve some of the hardest problems in biology, chemistry, and materials science at unfathomable speed. Many experts say this technology is finally on the cusp of commercial viability. Physicists and software engineers are understandably excited. But so, too, is another group that might raise eyebrows: climate investors.
Investment in quantum startups rose to $12.6 billion in 2025, six times the prior year’s total, according to McKinsey. The consultancy forecasts that the technology could drive up to $2.7 trillion in economic value by 2035 as it spurs efficiency and revenue gains across sectors. Climate tech venture capitalists understandably want a piece of that pie.
Examples abound. Lowercarbon Capital participated in the quantum startup Oratomic’s gigantic $300 million Series A, announced earlier this month. Just a few months prior, Breakthrough Energy Ventures led quantum pioneer Sygaldry’s $139 million Series A, which also included participation from Singapore-based climate-focused investor Earth Venture Capital. And earlier this year, Planet First Partners led a $200 million later-stage round for quantum company Photonic Inc., now valued at over $2 billion.
They’re hardly the first VCs to argue that the worlds of quantum and climate are closer than they might initially appear. Prelude Ventures has backed Atom Computing since its 2018 seed round, all the way through its $100 million Series C last month, while Berlin-based VC World Fund has supported IQM Quantum Computers — which went public via SPAC about three weeks ago — since 2022. All say that quantum computers will be dramatically more energy efficient than today’s so-called “classical computers,” reducing costs and electricity usage across applications ranging from artificial intelligence workloads and transportation logistics to power grid optimization.
That advantage stems from the fundamental nature of the system’s architecture. The physics is extraordinarily complex, but the basic idea is that unlike a standard computer, which encodes information as zeros and ones, quantum computers rely on units called “qubits.” Rather than representing a single binary value, qubits can “be both a zero and a one, or any state in between at the same time,” Idalia Friedson, Sygaldry’s co-founder, told me.
That mind-bending proposition totally changes the way computers problem-solve. Rather than sequentially testing one possible solution after another, quantum computers can evaluate many possibilities simultaneously, hopefully allowing them to solve challenges such as molecular simulation, materials discovery, and drug design exponentially faster than is currently possible.
This tech won’t replace today’s computers, which experts told me will almost certainly remain more practical for everyday tasks such as browsing the internet, making spreadsheets, and word processing. Rather, the future of computing will likely be a hybrid in which classical computers handle the bulk of the work while quantum computers address specific, complex problems.
For its part, Sygaldry is building quantum-powered AI servers that can plug directly into existing data center infrastructure, combining quantum processors with classical chips in the same machine to expedite both model training and inference. The startup is also unique in its effort to combine multiple types of qubits — yes, there is more than one kind — within the same system, matching each qubit type to the problem it’s best suited to solve.
“You can create a qubit by using photons, which are actually like light particles, by trapping ions, by creating artificial atoms,” Friedson told me, explaining that each type has its pros and cons. “Some are fast, some are less expensive, some are more manufacturable or scalable. But by and large, no single type of qubit meets all of the characteristics needed for commercial high-performance computing.” Thus, Sygaldry is taking a mix-and-match approach, pairing different types of qubits with the AI workloads they’re best adapted to handle, ultimately aiming to extract more from our existing data center infrastructure and curb the AI boom’s runaway energy demands.
But as with all breakthroughs that promise faster, better, cheaper AI, the spectre of Jevon’s paradox looms large. This is the observation that as technologies become more efficient and cheaper, total resource consumption often rises rather than falls as lower costs spur demand.
When I asked BEV’s Christian Garcia, who led the firm’s investment in Sygaldry, about whether he worries that quantum companies could contribute to an uptick in overall AI energy demand, he told me it seemed a little outside his remit. “I almost feel like it’s a question for a philosopher to answer,” he said, explaining that he has no way of knowing what the advanced computing industry will look like decades down the line. Instead, he’s focused on the shorter-term problem companies like Sygaldry purport to solve: Grid bottlenecks are constraining AI growth.
“Even as algorithms get more efficient, and even as GPUs get more efficient, the demand for tokens is outstripping the ability to bring power online,” Garcia explained. “And so we view investing in new computing platforms as a way to solve power challenges in a lot of ways, and I think that’s bread and butter for us.”
Mark Cupta, the Prelude investor who has backed Atom Computing since 2018, expressed a similar sentiment. “Regardless of what [quantum computing] is used for, it will use less energy as a baseline,” he told me. “Could it discover great things? Yes. Could it also break things? Absolutely. We’ve gotten comfortable with that.” Climate-positive applications that particularly excite Cupta include designing novel compounds to better capture carbon dioxide out of the air or industrial smokestacks, discovering more efficient catalysts for the energy intensive Haber-Bosch process used to produce ammonia-based fertilizer, and perfecting the chemistry behind solid-state batteries, which could be safer, longer-lasting, and far more energy dense than standard lithium-ion cells.
But quantum computing could also break many of today’s standard encryption methods, which secure everything from online banking systems and medical records to cryptocurrencies. It could help oil and gas companies with exploration, extraction, and petrochemical processing, helping to make fossil fuel production more efficient and cost competitive with renewables. Or maybe its greatest commercial value lies in, say, helping hedge funds optimize their trading strategies and portfolios — not necessarily a climate-negative application, but a far cry from the breakthroughs many sustainability-focused investors are hoping for.
The technology’s ultimate climate impact will always depend, to some degree, on how and where it’s deployed. Yet when Cupta looks at Prelude’s portfolio of climate tech solutions, he mainly sees the ways that quantum could help them move faster and build superior products. “If you think that the things we’re inventing are going to be better for the world than what came previously, you want to supercharge those things,” he told me.
He’s betting Atom’s platform will prove to be “the most energy-efficient and lowest footprint” approach in the industry. The company builds its qubits from neutral atoms, which have an equal number of protons and electrons and thus no net electrical charge. This system traps them in mid-air using tightly focused laser beams, a setup that allows the atoms to be packed far more densely than many competing designs, which often use micron-scale wires. And because the laser traps are movable, the system can rearrange qubits on the fly to optimize for different tasks.
Neutral atom-based systems are a relative newcomer to the quantum computing landscape, but Cupta believes they have the potential to leapfrog the industry’s dominant architecture: superconducting qubits. Often described as artificial atoms, these qubits are tiny electrical circuits engineered to mimic the quantum behavior of atoms. They underpin the quantum efforts of tech giants like Google and IBM, as well as startups such as Rigetti Computing — founded by Sygaldry’s other co-founder, Chad Rigetti — and IQM Quantum Computers.
But when Cupta was first exploring the idea of a quantum investment, he said nearly everyone he spoke with admitted that if they were “starting from scratch” they wouldn’t choose to work with superconducting qubits. That suggested to him that this approach had become a legacy technology, while Atom Computers’ neutral atoms represented the future. Other investors now appear to be buying that thesis. Last month, the startup announced a $100 million Series C, and is also set to receive $100 million from the U.S. Department of Commerce as part of a $2 billion CHIPS Act investment in quantum computing and manufacturing. For its part, Oratomic — a Lowercarbon portfolio company — is also working to build a neutral atoms-based quantum computer.
Prelude has been wrong about quantum before, as have plenty of other investors. The firm also co-led the Series A and B rounds for the quantum software company Zapata Computing, which went public via SPAC in 2024. The stock quickly collapsed, and within seven months the company had run out of cash and ceased operations. It eventually restructured and reemerged as Zapata Quantum, though its shares are still only worth around $1 on the lightly traded OTCQB market.
There’s also always the possibility that a climate-focused startup could simply reinvent itself, pivoting toward a more promising market opportunity. Consider the case of Crusoe. The AI data center builder and operator now valued at over $10 billion initially pitched itself at the beginning of the decade as a climate tech startup, using natural gas that would have otherwise been flared off to power cryptocurrency mining, thereby reducing emissions. While always an unconventional thesis, sustainability-focused VCs like Lowercarbon, G2 Venture Partners, and MCJ Collective piled in. Since then, the company has greatly expanded its natural gas footprint as it’s pivoted aggressively toward building AI data centers.
All of which is to say, there’s simply no guarantee that a climate tech startup will stay true to its original mission, or that the energy savings and efficiency gains it promises will ultimately materialize. The possibility of a paradoxical outcome is just a part of investing in energy efficiency technologies.
Investors seem to have gotten comfortable with the discomfort. But the public may not have to wait too much longer to see the first signs of what a quantum-powered future could look like. Sygaldry is aiming to “have some meaningful technology by the end of the decade,” Friedson said. “Over the next couple years I expect quantum is going to start reaching these really valuable inflection points that continue to drive adoption.”
Current conditions: Tropical Storm Bertha washed out the majority of monitored sea turtle nests in the western part of the Florida Panhandle • Record rain in West Virginia swelled creeks that toppled bridges in the north central part of the state • In the Pacific, Tropical Depression Kiyapo is barreling toward the northern part of the Philippines’ Luzon island.

China just quietly upped its target for renewable energy consumption, ratcheting up the goal 53% by 2030, rising to 1.8 billion tons of coal equivalent from 1.18 billion tons last year. That’s according to the latest five-year plan for renewables the National Development and Reform Commission published on its website. Wind and solar, paired with energy storage, are expected to provide 20% of electricity during the summer and winter evening peak periods, up from 10% currently, according to Bloomberg. By 2030, Beijing wants 300 gigawatts of peak capacity from renewables. Non-electric utilization of renewables, such as for heavy industry, is projected to rise to 150 million tons of coal equivalent from 60 million in 2025. The People’s Republic is betting on novel technologies to start taking off. By the start of the next decade, China wants to increase solar thermal capacity to 15 gigawatts from just under 2 gigawatts at the end of last year. The government wants marine energy, such as tidal and wave power, to go from virtually nothing today to at least 400 megawatts.
In the meantime, Beijing’s buildout of nuclear reactors continues apace. Per my promise to keep you abreast of all the big milestones, here’s the latest: China General Nuclear just installed the “supermodule” for the CAP1000 — the Chinese version of America’s Westinghouse AP1000 — at its Unit 2 project at the Lufeng Nuclear Power Plant in Guangdong Province. The installation this week of a module that’s too big to be transported by rail or boat and thus needed to be fabricated on site “signifies that the construction of the reactor building” for the new unit “has entered a new phase.”
Meta has quit a top corporate initiative to promote clean energy as the Facebook parent company has built out at least a dozen gas-fired power stations to supply electricity to its data centers over the past year. While rivals such as Apple, Google, and Microsoft remain members of the RE100, a project of the British-headquartered nonprofit the Climate Group that former United Kingdom Prime Minister Tony Blair co-founded, Recharge News reported that Meta had left the initiative. A spokesperson for the company told TechCrunch it was a mutual decision, though Meta declined to comment on the exact reasoning.
The United States currently has a little over 70 gigawatts of capacity to manufacture solar panels each year. Tesla has plans to dramatically increase that number. “We are just going to multiply it [by] an order of magnitude,” Vaibhav Taneja, Tesla’s chief financial officer, said during an earnings call Wednesday night. “We’re going at a very rapid scale.” It was just one of the various investments the electric auto giant is banking on investors to support as billionaire CEO Elon Musk ramps up spending on manufacturing semiconductors and humanoid robots as part of its artificial intelligence buildout, while also tackling an energy source that the scale of China’s factories has largely brought down to a commodified price. The stock plunged nearly 15% on Thursday as CNBC cautioned that investors are increasingly spooked about spending on artificial intelligence. “Yes, this means that we are doing a lot of things all at the same time,” Taneja said. “And that’s why we just have to go as fast as … humanly possible, make things work in the real world.”
Adding to the company’s woes: The U.S. government is now looking to strengthen regulations on car door hands after federal filings linked electric door failures to at least 15 deaths in Tesla vehicles, Bloomberg reported.
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The price of Brent crude, the international benchmark for oil, surpassed $100 per barrel for the first time since May amid President Donald Trump’s threats to ramp up the U.S. bombing campaign against Iran and a resurgence of attacks from Yemen’s Tehran-backed Houthi rebels in the Red Sea. West Texas Intermediate, the U.S. benchmark, finished out the day of trading at a little over $92 per barrel. Murban crude, out of the United Arab Emirates, soared nearly 20% to more than $107 per barrel. On Thursday, Trump told Axios he was close to a final decision on whether to launch a “massive attack” on Iran, “bigger than ever before.” The threat comes on what the Financial Times clocked as the 12th straight night of U.S. strikes against the Islamic Republic.
A new analysis from the consultancy Wood Mackenzie, meanwhile, showed the limits of Saudi Arabia’s main bypass for the Strait of Hormuz. Riyadh redirected virtually all crude exports through its East-West Pipeline to Yanbu on the Red Sea after Iran closed the narrow waterway at the mouth of the Persian Gulf at the start of the war in February. Volumes flowing through the pipeline peaked at more than 4 million barrels per day in March. But by June, that flow declined to about 2.4 million barrels per day, a 41% decline. On the whole, crude exports out of the Persian Gulf fell 82% between January and June. That’s likely due to dropping production as the regional industry struggles to find sufficient outlets for its supply. The Red Sea corridor also also “faces a declared Houthi blockade that, if enforced, could reduce global oil supply considerably.”
The U.S. has 4.2 billion short tons of coal reserves in active mines and another 356 billion short tons in untapped deposits, according to an updated U.S. Geological Survey report the Department of the Interior released Thursday. If extracted and burned in a power plant, the coal could supply the nation’s needs for at least 600 years at the current rate of consumption, the agency said. “American Energy Dominance is more important than ever, and so is beautiful, clean coal’s role in the production of electricity needed to fuel our future prosperity,” Secretary of the Interior Doug Burgum said in a statement. “Thanks to the USGS’s rigorous and independent assessment, we’re better equipped to manage America’s vast public lands responsibly while supporting energy security and economic opportunity.” Of the 34 coal mines on federal land, 14 are located in Wyoming, followed by Colorado with six, North Dakota and Utah with four mines each, and Alabama and Montana with three mines each. But Wyoming's mines contain 87% of the reserves associated with active mines on federal lands. As I told you last month, the Trump administration put up $850 million to support a coal revival. And the Iran War, as my colleague Matthew Zeitlin wrote in March, is only fueling more demand for coal.
Last month, I told you that Japan was the other country, besides the United States, bucking the global trend toward more, not less, offshore wind. Here’s a good reminder that, in most cases, such trends are directional, not definitive. The 315-megawatt Oga-Katagami-Akita offshore wind project just received its certification from Japanese regulators, “confirming that the design of its wind power generation facilities complies with” technical standards. It’s a major step toward building the array of 21 Vestas turbines off the coast of Akita Prefecture, per offshoreWIND.biz.