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For the first time in my life I now own a car, and it’s electric.
It took me a few weeks to narrow down my choices to a Hyundai Kona or a Ford Mustang Mach E. After much agonizing comparison, I went with the Kona. While I liked the Mach E’s sporty performance, longer range, and sizable front trunk, ultimately the Kona’s cheaper price, lighter materials, heat pump, and numerous mechanical buttons clinched the deal. After trading in a clapped out 2011 Subaru Impreza, the out-the-door sticker price for the Kona was a bit over $31,000 (though we opted to lease).
Owning and driving an EV has been an instructive experience. I’ve long been a vocal proponent of going electric, but I was honestly surprised by the learning curve. As the automotive journalist Edward Neidermeyer continually points out, an EV simply is not a perfect drop-in replacement for an internal combustion car. But that doesn’t mean you can’t make it work, even for long trips, even in fairly bedraggled parts of the country like northeastern Pennsylvania, where I live, and even with a modest battery and range.
First, the buying experience. The nearest Kona for sale I could find was a 70-mile drive away from Wilkes-Barre to Easton, and the dealership let me take it home so my wife could check it out. This led to the first of several comical lessons. The car had only about a 60 percent charge when I left the dealership, and drained down to 33 percent when I got back home. So before going back to sign the lease papers, it would need a top-up.
I searched on Google Maps for chargers and blithely set out to fill up. It turns out Rust Belt cities like the Scranton-Wilkes-Barre area are not exactly bursting with EV charging infrastructure. The first one I found was a free employee charger at a charter school. Out of curiosity I plugged it in. It did in fact work — and if I had been willing to sit there stealing 6 kilowatts of power for 10 hours, I could have gotten up to 100 percent. This seemed less than ideal. I then tried another charger around the corner at a used dealership. This one had a credit card reader but it did not work.
Scrolling through Google some more, I discovered that if you poke around in the menus it actually tells you the supposed speed of each charger (rated as slow, fast, very fast, or ultra fast). A 10-minute drive across the river was a non-Tesla fast charger at a Chevy dealership, though irritatingly I had to download an app and connect my Apple pay to make it work instead of just tapping my credit card.
Then I learned that the temperature of the battery matters a great deal. When I first plugged in, the charger delivered a measly 28 kilowatts. But then as the battery warmed up, that nearly doubled to 49 kilowatts (as compared to the Kona’s claimed maximum rate of 100 kilowatts). That isn’t particularly fast — but it also demonstrated another lesson, which is that there are advantages to a smaller battery, at just 65 kilowatt-hours. That fairly pitiful charging speed, topping out at less than a seventh of the maximum at modern stations, was still enough to get me from 28 percent to 75 percent in about 35 minutes. If I had been driving a Hummer EV, it would have been more like two hours.
That lesson was underlined charging at home. My house was built in the 1940s and has no outdoor outlets whatsoever, but in the pinch, I could string an extension cord out the window to use the included level 1 charger … to deliver a pathetic 600 watts, or less than the power supply on my gaming PC. Yet this was still enough to add 10-12 percent of charge per day, or about 30 miles, which is more than we drive on average. If I’d gone with the Mach E, it would be more like 20 miles, thanks to its bigger battery.
I learned a more serious lesson the next day going down to sign the paperwork. My wife had to come with me to the dealership, since she owned the Subaru, and therefore my 2-month-old son had to come along as well. With a 75 percent charge, I figured we’d be fine to make it there and back. When we got to the dealership, the car still had 48 percent — surely more than enough to make it back given my prior trip, right?
But then we had to sit at the dealership for three hours thanks to some incomprehensible financing dispute going on in a back room. By the time we finished, moved the car around several times, and grabbed some food on the way out, it was only about 42 percent by the time we got going. As we headed up Route 33, the Kona’s computer informed us we’d arrive with about 35 miles of range to spare. Since it was already well past the boy’s bedtime and I really, really didn’t want to hunt around in the cold for a charger that might or might not work, I decided to risk it.
But by this point it was well past dark, and the temperature was dropping into the low 40s. Meanwhile, what with wife and baby in the back seat, I had to run the heater much more than I had the first time, when I had left the cabin heater low and just used the seat warmer.
It turns out heating and driving uphill sucks battery power. As the temperature fell further into the low 30s, and the Kona zipped up the long grades at Wind Gap and Tannersville, I watched with increasing alarm as the buffer mileage dropped to 30, then 25, then 20. I told myself I would stop to charge if it got below 10 miles of buffer, but it finally stabilized around 15 miles in the Poconos.
It was a genuine case of range anxiety, no question about it, and my wife was ready to strangle me. But there was one last surprise as we crested the ridge and headed down into the Wyoming Valley. On that long downslope, I alternated between coasting and turning up the regenerative braking around corners, which got back another 14 miles of range. We pulled up with 15 percent battery and 29 miles to spare — not so far off the original estimate after all!
This need for planning is the major difference between electric and gas, at least given the current state of America’s charging infrastructure. With a gas car you can assume that range will not change much depending on the weather, that you can run your tank nearly empty with the sole penalty being another few seconds of standing at the pump, and that even the tiniest settlement is virtually guaranteed to have a gas station.
But on an EV trip of any distance you want to charge early and often, and that means some careful route planning. A theoretical 270 mile range means you have more like 160-220 miles you can realistically use, depending significantly on the temperature, wind, number of passengers, and so on. But unless you are in an exceptionally cold and/or depopulated area, it’s not that big of a deal. Just find some charging stations on the route, ideally with good reviews, and stop every hour or two for 20-30 minutes of charging, or less if your car can take mega voltage like the Ioniq 5. (There are several chargers in East Stroudsburg I could have used, for instance.)
You can’t cannonball to cut the trip time down to the absolute minimum, but you also get a chance to stretch out regularly and cut your risk of deep vein thrombosis. Meanwhile, if you can charge at home, your cost of fuel goes down dramatically. I now spend maybe $3 on a week’s worth of driving electricity.
So yes, there are some tradeoffs that come with the EV lifestyle. But even for an EV with a modest battery, driving in the cold mountains of impoverished Appalachia, they are not remotely insurmountable — and everything will only get easier from here on out. More chargers are being built all the time, and soon Tesla’s network will open up to all. You don’t need a 500-mile range battery, or to carry a backup generator around. It just takes a change in mindset.
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A group of energy researchers have a three-part prescription for Washington, D.C.’s exploding energy costs.
Washington, D.C. has earned an unwelcome distinction: the largest one-year electricity price increase of any state (or equivalent geographic distinction) in the U.S. Prices there are up 87% over the past five years and 26% in the past year alone, according to new data from MIT and Heatmap News’ Electricity Price Hub. The average D.C. household is now paying $55 more for power each month than it did five years ago.
In the face of this crisis, local officials have done little but blame regional markets, emphasizing the parts of recent rate increases they don’t fully control — generation charges — rather than any proactive measures they could take to offer relief to D.C. households. Meanwhile Exelon, the parent company for Pepco, D.C.’s local utility, has used the crisis to lobby state policymakers across the region for something worse — a return to utility-owned generation, which could leave consumers holding the bag for projects that run over budget or that are built for demand that never materializes.
As residents of Washington, D.C. and energy researchers who helped put together the Electricity Price Hub, we are well aware that the District cannot remake the regional electricity market on its own. But it has meaningful tools to protect ratepayers now.
To be sure, the problems D.C. faces are not entirely of its own making. Rising demand and constrained supply across the Mid-Atlantic have created a wholesale market pressure cooker.
Capacity market prices in the Pepco region, which are set through a regional auction scheme designed to ensure the grid can reliably deliver power when demand peaks, increased more than fivefold in 2025. Those costs are passing through to retail bills. As capacity has come under increasing strain, generation charges in Pepco’s standard supply service have gone up 119% — 33% in the past year alone, with yet another rate increase set to kick in on June 1.
That regional dynamic is real. But it does not absolve local officials.
Roughly 30% of Pepco’s average residential bill is made up of charges that fall squarely under D.C. jurisdiction. Distribution charges, the largest of those local components, have risen 57% over five years, and account for 20% of the total rate increase. The D.C. Public Service Commission regulates utilities in the District and must approve Pepco’s rates before they take effect. The commission, in turn, answers to the D.C. Council, the District’s legislature, which confirms its commissioners and oversees its work. These bodies should be examining every dollar of Pepco’s proposed increases. Instead, a D.C. court recently struck down the commission’s most recent rate-hike approval, finding that it had failed to sufficiently scrutinize Pepco’s request.
When a regulator is doing such a poor job that judges have to step in, that is a five-alarm signal. Yet there is a workable action plan for the Council and the PSC to rein in costs and ease the burden on D.C. households.
First, scrutinize distribution charges aggressively — that is squarely within their jurisdiction. As Pennsylvania Governor Josh Shapiro argued in his public letter to utility leaders last month, the PSC should require Pepco to justify every additional dollar of revenue requested in plain language. That means using transparent, replicable data and analysis to show why it’s needed, the alternatives considered, and how the proposed spending will concretely benefit consumers. To support this, the D.C. Council should ensure that the PSC, the Office of the People’s Council, and relevant state agencies are adequately resourced and positioned to engage with and probe Pepco’s arguments in rate proceedings.
Second, force transparency into how Pepco procures power. The public has remarkably little visibility into what makes up generation charges for the utility. For example, how much of the total cost is attributable to capacity prices, energy procurement, administrative costs, and compliance with the District’s Renewable Energy Portfolio standard? And what changes could D.C. consider to the competitive procurement process or RPS eligibility requirements to mitigate costs? Officials can’t manage what they can’t measure.
Third, attack demand by making it easier for customers to generate their own supply. High and unpredictable interconnection fees, process delays, and other administrative hurdles add unnecessary costs and contribute to the above-average cost of solar in D.C.. The D.C. Council and PSC can incentivize distribution-level solar battery deployment by cutting permitting and interconnection costs and improve cost transparency and streamline interconnection reviews to speed up the process of installing solar and storage.
None of these moves alone will reverse five years of rate increases. But together they would put real downward pressure on bills and signal that the city is serious.
What officials should reject — across the region — is Exelon’s push for utility-owned generation. In practice, it could create a generation subsidiary tomorrow. The reason it wants its rate-regulated distribution utility to do so instead is that this would let it earn a guaranteed return on costs it currently just passes through, while shifting the risk of cost overruns, schedule slips, and overbuilt capacity from shareholders to ratepayers. It would also hand the utility an information advantage over independent power producers, suppressing the competition the market relies on to keep prices honest. More profit, less risk, less competition. A great deal — for the utility.
The D.C. Council recently passed emergency legislation pausing utility disconnections for residents with unpaid balances under $1,000. That is a humane stopgap as we head into summer, but it is not a strategy. Neither is anything that has been proposed during the current mayoral race, in which leading candidates have attacked each other’s records instead of offering a plan to lower bills.
D.C. residents do not need more blame-shifting. The choice in front of the council and the PSC is concrete: Scrutinize what is in their jurisdiction, force the transparency they have the authority to require, accelerate the cheapest sources of new supply, and refuse to subsidize a Pepco business model that turns ratepayers into the underwriters of utility risk. That is the test of whether they meet this moment seriously.
On Thea Energy’s $100 million Series B, plus more of the week’s big money moves.
Nuclear is once again a dominant theme this week, with fusion startup Thea Energy landing a $100 million Series B that will help it expand its magnet manufacturing capabilities. While $100 million is nothing to scoff at, it somehow sounds modest alongside some of this year’s other deals, which include a $450 million Series A for Inertia Enterprises and $240 million for Shine Technologies. This week also brought the news that small modular reactor startup Newcleo plans to go public via SPAC later this year, bringing to mind the exuberance of the 2021 SPAC boom, in a deal expected to net a cool $429 million.
Elsewhere, gridtech company Utilidata raised fresh capital after (surprise!) pivoting to the data center market, while a standalone battery storage developer and operator is betting there’s still plenty of money to be made in the increasingly crowded ERCOT market.
Thea Energy officially joined the growing ranks of fusion companies to surpass $100 million in total funding this week, raising a $100 million Series B round led by the U.S. Innovative Technology Fund to scale its magnet manufacturing operations as it targets a demonstration reactor by 2030. Thea is a part of the Department of Energy’s Milestone-Based Fusion Development Program, which seeks to accelerate efforts for commercial fusion power. In January, the DOE certified Thea’s preconceptual pilot plant design, making it the first of the program’s eight awardees — who will split $46 million in federal funding — to see its reactor architecture validated.
Unlike many top-funded fusion startups, which are building donut-shaped tokamak reactors, Thea Energy is betting on a stellarator design. Traditional stellarators resemble a helical tokamak, which require manufacturing and installing dozens of huge, twisted magnets, but Thea’s approach deviates from the norm. Instead, it relies on hundreds of small, planar magnets arranged in the more familiar donut-shaped configuration, which the company’s artificial intelligence software controls individually. That enables Thea to create the same complex magnetic field within a far simpler and more manufacturable shell.
Thea plans to use the new capital to build a second facility in New Jersey to complement its existing lab and to double its headcount as it seeks a site for its demo reactor later this year. The startup is aiming to bring its subsequent commercial pilot online by 2034, on par with the timeline laid out by fusion industry leader Commonwealth Fusion Systems. According to Gaetano Crupi, USIT founder and billionaire investor Thomas Tull “believes the stellarator is the right architecture for commercial fusion, and Thea Energy is the company that makes it commercially viable.” As Crupi put it in a press release, that’s because “Thea Energy’s breakthroughs shift complexity from precision mechanical fabrication to software-defined controls.”
Newcleo is the latest small modular reactor startup seeking a quick pathway to the public markets via a SPAC merger, announcing plans to list on the Nasdaq in the second half of the year after merging with a blank-check firm. The deal values the European fuel and reactor developer at $2.4 million, and is expected to deliver about $429 million in fresh capital. It comes just months after Newcleo raised $88 million in a growth financing round as the company expands into the U.S. market while continuing to fund projects across Europe.
Newcleo stands out in the crowded SMR field through its fuel and cooling strategy. It plans to run its 200-megawatt reactors on recycled fuel made from nuclear waste products like recovered plutonium and depleted uranium, and cool its reactors with liquid lead rather than water. Because liquid lead has such a high boiling point, lead-cooled reactors can operate at atmospheric pressure, reducing the need for the complex, high-pressure systems used in conventional nuclear plants and potentially improving safety along the way.
The company has already raised over $760 million to date, and CEO Stefano Buono told the Wall Street Journal that the pending SPAC could carry it through 2028 or 2029. Even that won’t be enough, however, for Newcleo to reach its target of opening a fuel factory by 2031 and bringing a commercial reactor online the following year. Not to mention that SPACs — a once rare go-to-market strategy — have a checkered history in the SMR industry. After NuScale went public via SPAC in 2022, its flagship project collapsed, taking its stock down with it and underscoring the risks that pre-revenue companies face when their early failures unfold in the public markets. On the other hand, shares of Sam Altman-backed startup Oklo’s have surged since it went public via SPAC in 2024, reaching a market cap over $11 billion, though it also has yet to build a reactor.
Newcleo’s capital push may also be tied to its strategic partnership with Oklo, as it has preliminary plans to invest up to $2 billion to develop advanced nuclear fuel facilities in the U.S. in partnership with the SMR pioneer. Earlier this week, the DOE selected Oklo — and by extension, Newcleo — to enter “advanced negotiations” to receive surplus weapons-grade plutonium for use in reactor fuel.
What’s that I hear? Another climate tech company has pivoted to the data center market? While Utilidata — an artificial intelligence-powered gridtech company — initially set out to give utilities granular insight into household-level electricity usage and grid data, it’s now raised a $40 million extension round to accelerate its shift into the data center market. As I wrote following last year’s initial $60 million tranche of Series C funding, Utilidata initially set out to get its hardware module inside residential smart meters — which it managed to do at pilot scale — to enable faster fault detection and eventually even automate load management at the household level.
Now, Utilidata is taking this same principle and applying it to the booming data center market, where so many climate tech companies are finding their first customers. The company developed its AI platform in collaboration with Nvidia, installing its modules on server racks to help data centers optimize power allocation across its facility. The company says it measures power consumption a million times per second, such that if usage on one rack is low, it can reroute electricity to parts of the data center that need it. Much like electric grids, data centers also overbuild their capacity to ensure they can handle sudden spikes in demand or hardware failures. Utilidata wants to tap into that headroom by managing power flow in real time.
Utilidata’s first commercial data center deployment is set to go live next month in Montreal in partnership with European AI cloud provider NexGen Cloud, with the startup targeting a 50% increase in the data center’s usable processing power. It also plans to use this latest funding to increase headcount by 25% this year as it builds out operations at its new Ann Arbor headquarters, which opened in February.
In some later-stage funding news, battery energy storage developer, owner, and operator Goshe Energy Storage just secured up to $40 million in strategic financing from S2G investments. As I wrote last week, S2G recently raised a $1 billion fund aimed at helping growth-stage companies commercialize, though this latest commitment actually comes from a different arm of the firm — its Special Opportunities team. This division focuses on non-dilutive financing, in this case providing Goshe with a HoldCo loan backed by the company’s portfolio of energy storage projects. Rather than lending to a specific project, a HoldCo loan gives Goshe flexible capital that can be used to fund its broader growth.
Founded in 2022, Goshe specializes in acquiring late-stage battery storage projects and getting them over the finish line by securing capital and managing the construction process into commercial operations. Thus far, all of its announced projects are in Texas’ ERCOT electricity market. Alongside this financing announcement, Goshe said that its first project — a 100-megawatt battery storage plant in Bexar County, Texas — is now fully operational after securing $288 million in project financing. The company also expects to bring its second project, a 180-megawatt storage facility, online in the following few months, with two additional ERCOT projects slated to begin construction later this year.
This funding is the latest sign that infrastructure investors have grown comfortable backing battery energy storage projects, with a record 24.3 gigawatts of new battery storage capacity projected to come online in the U.S. this year alone. The wholesale ERCOT market, however, is no longer the guaranteed moneymaker that it was just a few years ago. Between January 2024 and January 2026, ERCOT more than tripled its battery storage capacity, driving battery revenues down as the market has become increasingly crowded. In this landscape, there may be a growing number of stranded projects for Goshe to acquire, though it’ll also have to be increasingly selective.
The American climate movement is beginning to look a lot like AI doomers versus the techno-optimists. It’s a dynamic that is winning local bans – and very little else for now.
On one side, you’ve got the left-leaning insurgent grassroots movement against data centers. In many cases this push is in the name of climate action and environmental justice, with activists citing the risks of pollution from gas-fired power and the potential for strain on existing electricity supplies. But in many, many other cases, this movement is decidedly not about climate action; instead it’s a movement addressing everything from energy prices and power over large corporations to AI use generally.
Or, perhaps the anti-data center movement’s big tent is best summarized in this quote from comedian and activist Ilana Glazer: “The thing that is genuinely waiting for us on the other side of AI and data centers is the collective.”
On the other end of the spectrum, you have a raft of data center-curious centrists, liberals, and, for lack of a better term, capitalists. This diametrically oppositional political force wants to ensure data centers continue being built as states and the federal government figure out how to make policy surrounding them. Yes, they want regulations, but they’ll have to qualify even supporting the idea of a single full state – any state – pausing data centers.
“I tend to find myself in the middle of all of this AI and data center policy, because I don’t think a heavy-handed approach in either direction is smart or productive,” said Tre Easton, vice president of public affairs for the Searchlight Institute, a policy think tank geared toward pushing Democrats into positions more broadly popular in the general electorate. “If you’re doing moratoria in one state and Meta says, okay, fine, they’ll go to a different state where they’ll run roughshod.” He added: “This buildout is happening. Let’s just make the rules. Put out rules of what this should look like.”
I spent weeks talking to activists fighting data centers to better understand their end goals. Right now what folks want to talk about most is moratoria, until industry-specific regulation is in place governing all things energy, water, noise, and labor.
“Our motto is ban, legislate, regulate,” said Ben Dziobek, founder of Climate Revolution Action Network, which is fighting data center expansion in New Jersey. Dziobek’s organization is one of roughly five dozen in the Garden State that have called on newly-elected Democratic Gov. Mikie Sherill to institute a moratorium on data centers, including state representatives from The Nature Conservancy and ACLU.
When I asked Dziobek what he’d like to see after a moratorium, the answer was clear: he wants to see Big Tech pay for the energy transition. “It would be beneficial if we could get companies who are using more load than entire states to build out the clean energy future. Someone’s gotta pay for this. The largest companies in the world have to come in.”
Undoubtedly this movement is increasingly influential and rooted in a now bipartisan concern about data centers founded in valid concerns about data center impacts and the rise of AI. But at least right now, In New Jersey, and so many other Democrat-controlled states, this movement has won little ground outside the local level and no statewide Democratic leader (e.g. governor) has made a data center moratorium their raison d'être. Neither have I seen the push for a moratorium pick up steam in any state known as a deep blue bastion for climate policy. Its greatest achievements by the numbers are the cancellation rate of projects that have faced local pushback (37%, according to Heatmap Pro), the city-wide moratoria in large left-leaning bastions like Denver, and the sheer existence of a federal data center moratorium bill led by progressive celebrities like Sen. Bernie Sanders and Rep. Alexandria Ocasio-Cortez.
In fact, what I am seeing is Democratic statewide leaders rejecting efforts to curtail their development or regulate energy and water usage. In California last year, Gov. Gavin Newsom vetoed a bill requiring data center developers to report their water use. In New York, Gov. Kathy Hochul has so far shrugged off a push for her to back a three-year moratorium on new data centers. In Massachusetts, Gov. Maura Healey supports continuing to foster the state’s data center buildout and the state is preserving its data center sales tax exemption at a time when GOP leaders in other states want to repeal similar subsidies. Colorado legislators abandoned a push to regulate data centers earlier this month, after Washington state did the same.
Perhaps infamously in Maine, the Democrat-led state legislature nearly enacted a two-year moratorium on data center development only to be vetoed by Gov. Janet Mills. Democrats then failed to override the veto.
Some Democratic leaders are taking up the light-touch approach. On Wednesday, Pennsylvania Gov. Josh Shapiro released long-awaited principles for data center developers seeking fast-track permitting processes with state agencies. Under these policies, companies can get permitted more quickly if they abide by a number of energy, water, and labor standards.
On a granular level, even this policy quietly represented a disappointment for climate activists. One of the principles called for data centers to get at least one third of their power from “clean” sources by 2035 – which sounds nice until you realize Shapiro only two years ago was calling for utilities to get at least half of their electricity from carbon-free sources by then. Food & Water Watch, a national group calling for country-wide data center moratoria, blasted a press release going after Shapiro to the media after the principles were released: “[This] is a naive effort to placate widespread data center opposition. It won’t work.”
For climate activists, the best case scenario right now may be blue states taking up bills to regulate the sector as opposed to a blanket moratorium, where the push for a pause functions as leverage. Often these bills are focused on energy costs for consumers, not environmental protection, like in Oregon where last year legislators enacted a measure requiring data center companies to pay for their share of electricity demand. In Vermont this week, the state legislature passed a similar bipartisan data center bill focused on energy affordability, with some restrictions on fossil fuel generation. (Republican Gov. Phil Scott is expected to sign it.)
Indeed, the climate movement’s smartest play could be to push legislation requiring facilities not only pay for their power but ensure it is zero-carbon emissions. So far, Democrat-led bills that would accomplish this goal gained steam this year in other states but struggled to become law before the end of the legislative session too (Washington, for example).
In Illinois, the bill is known as the POWER Act, but despite lots of Democratic support behind it, it’s languishing in committee limbo ahead of the end of legislative session this week. One can imagine Illinois Gov. J.B. Pritzker getting a bill like the POWER Act into law and then running for president as The Guy Who Made Data Centers Cleaner. Heaven knows that’s why folks like Hannah Flath, climate communications manager for the Illinois Environmental Council, are so bullish on the bill. “I think it’ll eventually become law. Just not this session.”
I asked Flath why her organization was so focused on this bill as opposed to a data center moratorium. “We just don’t think it is politically feasible. Especially given how attractive these things are to our governor and some state lawmakers,” she said. “Currently, I view climate work as harm reduction work. This is perhaps a cynical view to have but that’s unfortunately where we’re at. How can we ensure changes happening in the world bring more benefits than they do harms?”
But Flath said that as a push for moratoria grows, it provides pressure on state policymakers to act: “What we’re offering state legislators now is a middle ground solution.”
I suppose for now, we’ll have to see if this side can come together on any solution – let alone a middle ground.