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On 2024 power projects, pension funds, and the king’s car

Current conditions: Rush hour commutes in the Midwest could be snarled by snow today • The whole of England and Wales is under a weather warning for heavy rain and floods • February temperatures in parts of the Atlantic Ocean are nearing highs normally seen in July.
The vast majority – 81% – of new utility-scale electricity generating capacity expected to come online this year will be in the form of solar and battery storage, according to the U.S. Energy Information Administration (EIA). The agency’s latest Preliminary Monthly Electric Generator Inventory shows projects with 62.8 gigawatts (GW) of new capacity are in the pipeline, a 55% increase over the 40.4 GW added last year. More than half of that will be solar, and about a quarter will be battery storage. “We expect U.S. battery storage capacity to nearly double in 2024,” the report said. Electrek also noted that “2024 will see the least new natural gas capacity added in 25 years.”
The Republican-controlled House voted yesterday to pass a bill reversing President Biden’s pause on approvals of liquified natural gas (LNG) exports. The vote was 224-200, with nine democrats voting in favor. While the bill is unlikely to get the green light in the Senate, its passage “could embolden House Republicans to include language easing the pause in future government funding legislation,” Bloomberg said. This particular bill would end the Department of Energy’s (DoE) power to approve exports, handing it instead to the independent Federal Energy Regulatory Commission. Biden paused approval of new export terminals recently until the DoE can study their environmental impact, earning praise from activists who claim LNG may be worse for the climate than coal, but scorn from many Republicans who say the move compromises energy security.
The world’s largest group aimed at leveraging investor power to pressure corporations to prioritize climate change lost some of its biggest members this week. JPMorgan Asset Management and State Street Global Advisors (SSGA) said yesterday they are leaving the Climate Action 100+ (CA100) group, and BlackRock Inc. said it will no longer be affiliated. CA100 partners with more than 700 investors – which collectively manage about $70 trillion in assets – to pressure oil giants, shipping firms, airlines, and other big companies “that are critical to the net-zero emissions transition.” It initially focused on encouraging companies to make climate disclosures but recently decided to go further and start pushing them to actively reduce their greenhouse gas emissions. It seems this was a step too far. The departures remove nearly $14 trillion in assets from the climate group, and follow intense political pressure from Republicans targeting ESG investing. “I wouldn’t be surprised if we see more defections,” Lance Dial, a Boston-based partner at law firm K&L Gates LLP, told Bloomberg.
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In more news from the financial world, America’s third-largest state pension fund is scaling back its investment in some oil and gas companies. The New York State Common Retirement Fund, which holds about $260 billion in assets, will divest about $27 million from seven firms including Exxon Mobil Corp. following a review of the companies’ preparedness to shift to a low-carbon economy. The move is “a compromise measure” between the fund and environmentalists who want to see full divestment, Reuters said. “The decision could deal another blow to Exxon’s reputation,” reported Inside Climate News, but the fund will still maintain $500 million worth of Exxon shares.
Switzerland wants the United Nations to create a group of experts dedicated to studying solar geoengineering, according to Climate Home News. The panel would “examine risks and opportunities” of solar radiation management (SRM) techniques, which are “hypothetical technologies that could, in theory, counteract temperature rise by reflecting more sunlight away from the Earth’s surface,” as Carbon Brief explained. Reactions from scientists are mixed, with some suggesting more research is warranted, but others concerned about “the risks of opening a Pandora’s box.” Governments will vote on the proposal next week.
The Royal Family’s first-ever electric vehicle, King Charles III’s 2018 Jaguar I-Pace, is up for auction and could go for up to $88,000. The king once called the car “silent but deadly.”
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Voltpost announced two new models today designed to mount on walls and ceilings.
Voltpost, the company putting electric vehicle chargers on lampposts, is now expanding to parking garages.
On Wednesday, the company unveiled two new configurations that can attach to the walls and ceilings of parking garages, lots, and other locations without easy access to streetlights or utility poles. Like Voltpost’s signature pole-mounted design, the ceiling- and wall-mounted options avoid the expensive construction work required by freestanding charging infrastructure. In theory at least, that should allow the company to deploy more chargers faster.
“Our mission has always been to decarbonize mobility by democratizing charging access,” Jeff Prosserman, Voltpost’s co-founder and CEO, told me. “And the real value proposition is that, when you can leverage the existing infrastructure, you can significantly reduce the cost, the timeline, and the physical footprint of chargers.”
The second Trump administration hasn’t made things easy. Almost immediately after taking office, Trump officials began slashing Biden-era programs designed to support the EV charging buildout, including the National Electric Vehicle Infrastructure and Charging and Fueling Infrastructure programs. Along with a handful of environmental groups, 17 states sued in May of last year to force the federal government to release NEVI funding and quickly received a preliminary injunction unfreezing the program. A similar group sued in December over the CFI funding, and though that case is still pending, Prosserman told me he expects to see a positive resolution before the end of the year.
Though the death of the EV tax credit has shrunk its addressable market, Voltpost has emerged relatively unscathed. “Honestly, that doesn’t really impact us at all,” Prosserman told Heatmap’s Katie Brigham last year. “At the end of the day, EV adoption will either increase X or Y percent in a given year, but it’s going to continue to increase year over year. We’re past the tipping point, going from early adopters into the mainstream.”
That said, he also told Katie that the company was taking a “more conservative approach” to growth as climate tech investment dried up. Voltpost itself also received several federal grants that are still in limbo. Instead, the company focused on its strategic partnerships with the likes of AT&T and Zipcar, and in July signed an agreement with InCharge Energy to handle installation and maintenance. To date, Voltpost’s funders include RWE Energy Transition Investments, a private equity vehicle within German energy giant RWE, alongside Twynam Funds Management, Exelon Foundation, Good News Ventures, and Climate Capital.
Like its lamppost chargers, Voltpost’s wall- and ceiling-mount kits work with Tesla and non-Tesla vehicles alike, and come with demand management software that responds to electricity time-of-use price signals to enable cheaper charging where and when possible. As for the cost of the kits and how many the company plans to install initially, Prosserman wouldn’t say.
Since deploying its first lamppost chargers in New York in 2024, Voltpost has expanded into California, Massachusetts, and Washington, D.C., among other states. It has more than 100 deployments in the pipeline through the end of this year, and is aiming for 10,000 by 2030. The point, Prosserman told me, is not to stand out in these communities, but rather to fit in.
“It’s not going to be just about greenfield project development if we’re going to decarbonize a planet across all aspects,” Prosserman said. “We’re really looking at building something that’s integrated, that fits in the fabric of the built environment and communities.”
Current conditions: A sleepy Atlantic hurricane season just snapped to attention as two tropical storms started forming near the Caribbean and off Africa’s coast • Southern California is bracing for a week of triple-digit temperatures • The Hawk Fire has forced 42,000 people to evacuate an area near Reno, Nevada.
The Environmental Protection Agency plans to repeal a federal rule requiring states to publicize and solicit comments on applications for air pollution permits for various industrial facilities, including new data centers and power plants that provide the electricity they need. The move, The New York Times cautioned, “could prevent residents from raising concerns about — or even learning about — data centers before permits are approved and construction starts.” Three-quarters of Americans now oppose data centers built near their homes, according to the latest polling from Heatmap Pro. That’s up from less than half last year.
The Trump administration’s effort to curb public input comes as local opposition to data centers reaches an intensity that frequently draws comparisons to a moral panic. In a post on X last week, one commentator compared the backlash to a 2004 newspaper clip in which a pregnant woman photographed smoking a cigarette complains that the sound of jackhammers from construction on her block posed a risk to her unborn child. A video circulating on Facebook this week showed the former mayor of the Upstate New York town of Massena, where census data shows one in four residents lives below the poverty line, pleading with residents to consider the benefits of data centers. “They’re data centers. They’re being built somewhere. Communities are accepting these things,” he said, urging residents holding protest signs to listen with an open mind to experts about how a proposed facility would be built. “I know for a fact we have aging infrastructure. It’s just going to get worse. How do you fix that? We’re losing people left and right in this community. Look at the number of boarded-up houses. Look at the number of businesses that are going out of business … You can’t afford the time it’s going to take to research for three years when these things are being built today.”
As you may recall, the Trump administration last week imposed harsh water cuts on the three states in the Lower Basin of the Colorado River: Arizona, California, and Nevada. This week, Nevada Governor Joe Lombardo, a Republican, announced litigation filed in federal district court challenging the Department of the Interior’s plan, arguing that the cuts unfairly harm downstream states like his. The lawsuit makes Nevada the first of the three states to launch what E&E News called a “legal war” against the policy. Under the Trump administration’s proposed plan, southern Nevada could lose more than 70% of what Lombardo called its “already meager Colorado River allocation,” even though Colorado, Utah, New Mexico, and Wyoming “are not required to contribute a drop.” The governor, who is up for reelection, continued: “This isn’t about political posturing; this is a matter of survival for a community that represents about two-thirds of our state’s citizens and the lion’s share of its economy.”
Between 2010 and 2024, the United States imported about 59 terawatt-hours of electricity per year from Canada, and exported roughly 13 terawatt-hours back north across the border. America’s appetite for Canadian electricity is only likely to increase as our northern neighbors build more nuclear reactors, hydroelectric dams, and offshore turbines in areas such as the Northeast, among (I say, haughtily clearing my throat as a fourth-generation New Yorker) the most densely populated and culturally powerful parts of the entire U.S. Now that’s under threat as Canadian Prime Minister Mark Carney plays hardball with President Donald Trump in floundering trade talks. After summoning home its trade negotiators over the weekend, Ottawa announced retaliatory tariffs against the U.S. on Tuesday, slapping levies of up to 50% on about $20 billion in goods. On Monday, Ontario Premier Doug Ford said his province could cut off electricity and critical mineral exports to the U.S. “We power 1.5 million homes and businesses,” Ford told the Associated Press. “Everything’s on the table. I’ll do whatever it takes.” While the BBC reported that “squeezing the U.S. on energy is not a current countermeasure,” it also said that such a response “hasn’t been ruled out.” In statements to Utility Dive, the grid operators in New York and New England said new tariffs would not affect reliability, though the latter region cautioned that it could face problems during extreme weather events.
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European buyers of liquified natural gas paid $22.83 for a million British thermal units at the start of this week, more than double the price a year ago and the highest since 2023, according to the Financial Times. The surge came as Iran struck an oil tanker trying to cross the Strait of Hormuz, damaging its engine room and halting the ship. Trump said Tuesday that all underwater mines the Iranian military had laid were now cleared from the waterway. Tehran is set to begin talks with neutral Oman on a route for fully reopening the strait, the Oman Observer reported.
The spike in European LNG prices serves as a reminder of the benefits for the U.S. of becoming the world’s top producer of natural gas and exporter of the version that’s super-chilled to a liquid state for more efficient transportation. LNG, as my colleague Matthew Zeitlin wrote in February, “is the ultimate bogeyman” for many progressives and climate activists. But the American industry, transformed by the fracking revolution over the past two decades, had more than enough supply to help Europe stay warm and keep the lights on in 2022, when Russia started throttling the pipelines selling gas to Ukraine’s allies after the start of the war. “The world is going to keep needing natural gas at least until 2050, and likely well beyond that,” John Hebert, a senior policy adviser at the advocacy group Third Way who is pushing for Democrats to embrace LNG, told Matthew. “The focus, in our view, should be much more on how we reduce emissions from the oil and gas value chain and less on actually trying to phase out these fuels entirely.”

When I visited the Netherlands’ lone nuclear power station in 2022, the single-reactor plant, called Borssele, stood alone next to a demolition site dismantling the power station. But soon the country plans to finally expand its atomic power sector. On Tuesday, NucNet reported that the Dutch nuclear energy agency had signed contracts with France’s EDF and the U.S.-based Westinghouse Electric Company for design studies on at least two new reactors. The advancing plans are a sign of how quickly things are changing in the region. At the end of my visit six years ago, I stood atop a high berm — classic Dutch engineering to reclaim the land and keep the floodwaters at bay — at the end of the facility and caught a glimpse at northern Belgium. Back then, Brussels was shutting down its own nuclear fleet. Now, as I reported earlier this year, the country has nationalized its reactors and plans to revive its industry.
Wildfire smoke is nasty stuff. That’s not news to anyone living in the American West, but we in the Northeast learned the hard way just how harmful it is when Canadian smoke poured into our cities this summer and in 2023. But that smoke can have a benefit, at least when rain carries it into soil: It acts as a fertilizer. A new study found that smoke-rain events can deliver large bursts of nitrogen, phosphorus, and potassium as black soot in the air mixes with water droplets. “It’s important to remember that what goes up must come down,” Alexandra Ponette-González, an urban ecologist at the University of Utah and Natural History Museum of Utah and the lead author of the paper, said in a statement. “There’s so much focus on what goes up and how that affects human health. We’re interested in everything that falls out of the atmosphere and lands on ecosystems, and what that means for our environment.”
The singer’s music spanned genre and generating technology — and asked how to live in a world on fire.
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Even as state-level Republicans have started talking about the data center boom more skeptically, the Trump administration keeps hugging it.
The Environmental Protection Agency will ditch a federal rule requiring states to publicize air pollution permits for major new industrial sites, including data centers and off-grid power plants, The New York Times reports. Those are some of the permits that we used in our recent reporting to, for instance, make sense of the scale of the coming gargantuan gas buildout. This policy might make sense as realpolitik in a more subdued development environment, but I don’t understand it when trust in any type of project is so low — and when even a majority of Republicans have turned on local data center development.
We badly need insight into the scale of artificial intelligence energy use right now, but this policy could make things even more uncertain. It reveals, too, just how much President Trump has fallen out of touch with the public.
I was planning on writing about a different topic today — and then Dolly Parton died. The country legend was 80 years old. Her nephew announced her death on social media in a sad, sweet, and lovely video.
What can I say? She was among the most admired living Americans. So voluminous and impressive was her legacy that I don’t even have to stretch much to find an energy or climate angle in it. How many other musicians were born in a home without heat or electricity — but would be eulogized upon their death by the public utility from their Tennessee Mountain Home?
Her music spanned genres and generating technologies. Some of our readers may appreciate her trio with Emmylou Harris and Linda Ronstadt of Neil Young’s environmentalist classic “After the Gold Rush”; others, her takes on lighting — or liquid combustion. But most will enjoy the lead single off her final album, where the studiously apolitical singer confronted the prospect of a burning world: “Now I ain’t one for speaking out much / But that don’t mean I don’t stay in touch,” she sang. “Liar, liar the world’s on fire / What we gonna do when it all burns down?”
In a fluke, the next tropical cyclone to form in the Atlantic basic will — according to the World Meteorological Organization’s 2026 list — be named Dolly. Let’s hope it puts on a show but doesn’t find any islands in its stream.