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The oldest climate story isn’t about a wildfire or a hurricane, a heat wave or a drought. It’s about a flood.
“The deluge is terrifying not just for its destructive capacity but also for the way it undoes all that has been accomplished, brings us back to the fathomless chaos of beginning,” The New Yorker’s Avi Steinberg writes of this most primordial human fear, the story of which has been echoed across cultures and religions from the Mesopotamian Epic of Gilgamesh to the Bible’s Old Testament to the Ancient Greek Deucalion Myth to stories told by Native peoples across North America. It might also be humankind’s oldest cautionary tale: When the rain starts and the waters begin to rise, pay attention.
In the United States, floods are the deadliest extreme weather phenomenon after heat waves. In particular, flash floods — which the National Oceanic and Atmospheric Administration distinguishes as flooding that “begins within 6 hours, and often within 3 hours, of ... heavy rainfall” — often take people by surprise, or are dangerously underestimated.
With Hurricane Hilary threatening to dump potentially a year’s worth of rain on parts of the southwestern United States in the span of 72 hours, learning how to react to rising waters ahead of time can be life-saving. This is what you need to know.
Unlike learning your personal wildfire risk, which is relatively easy, it can be frustrating to try to figure out the flood risk of your home.
FEMA publishes flood maps (you can search by your address here), but the shading key can be hard to make out and I had difficulty getting the images to load. I had my best luck navigating to this version of the map, clicking on the location I was interested in, then clicking to the second page of the pop-up information, where you will see “Flood Hazard Zones” followed by a letter. The letters B, C, and X designate moderate- to low-risk flood areas (though the risk in these locations is not non-existent!) while high-risk areas are marked with A or V.

Personally, I preferred the clear information laid out at RiskFactor.com. The website told me my neighborhood’s risk (I live by the river in New York City, so mine is “moderate”) and the number of properties in the area that have a “greater than ... 26% chance of being severely affected by flooding over the next 30 years” (for my neighborhood, 16%!). The website will even estimate the “max depth of flooding” of a specific home or building for this year and in the next 30 years.
If you are in a moderate- to high-risk area on either map, you should take steps to prepare for a flash flood. Even if you score lower, you might want to consider preparing your house because minimal risk doesn’t denote zero risk.
Either way, you should read the below section about “what to do if you’re in a car during a flash flood,” since such a scenario can happen to anyone.
You don’t have to wait for a flash flood warning to begin to prepare for the worst. But if you’re in a situation where you can anticipate flooding — like much of Southern California, Nevada, and southwestern Arizona can right now — you should prepare ahead of time to run errands so you won’t need to leave the house during the storm. Keep in mind, the best way to stay safe during a flash flood is to not encounter the flood in the first place.
Make sure you have enough food for several days, as well as enough pet food for your animals. Also be sure to pick up any prescriptions or medications you might need. Anticipate any other reasons why you might need to leave your home and try to prevent or limit them ahead of time.
Confirm that the contents of your “go bag” or emergency evacuation kit are up-to-date. Here’s a generic checklist of what should go in it, as well as a version in Spanish.
Check the batteries in your flashlights and charge backup batteries for electronics like cell phones, in case the power goes out.
Clean up your yard if you have time; secure outdoor furniture so it doesn’t get blown around.
Prepare electricity-free entertainment options (now is the time to start brushing up on gin rummy).
Check on neighbors or relatives who might not be aware of the coming storm or have made preparations yet.
I can't believe I have to write this, but absolutely do not order Doordash or Uber Eats or food or products from any other courier service during flash flood conditions. Doing so puts other people in direct danger. Your ramen craving can be satisfied later.
Never wait out a storm in a basement or an apartment that is below ground level if you live in an area with moderate to high flood risk; move to a higher floor or find a different location to shelter in. Even if your home or basement has been okay in previous rainstorms, major flood events can overwhelm city sewer systems and back up water into areas it hasn’t reached before. As Reza Khanbilvardi, a professor of civil engineering and hydrology at City College of New York, told Gothamist after Hurricane Ida killed dozens in New York, New Jersey, and Connecticut in 2021, “Apartments in cellars and basements can be death traps.” Paved urban areas can be especially dangerous in these conditions.
Follow potential evacuation alerts on your phone or on a radio (yes, they still exist!). Sign up for alerts now if you haven’t already.
Seal your important documents in a gallon-size freezer bag or other waterproof bag if you anticipate needing to evacuate, The New York Times suggests.
Unplug electronics and move any valuables to higher floors or locations if you have time to prepare for an evacuation.
If water enters your home, evacuate immediately with your go bag. Do not wait or try to retrieve any additional items. One of the most common ways people get hurt during flash floods is by waiting too long to evacuate. Use your best judgment — if it feels safer to climb to a higher floor than to try to drive to higher ground, do so, but avoid sheltering in an attic where FEMA warns you could get trapped. “Go on the roof only if necessary,” FEMA writes, and “signal for help.”
Do not attempt to walk or swim through floodwaters. Six inches of moving water is enough to knock an adult off their feet. Electrocution is also the second-biggest cause of death during a flood after drowning; never attempt to turn off a circuit breaker box or touch appliances if you are wet or standing in water.
If you come in contact with floodwaters, be sure to wash that area of your body very well when you reach safety.
If at all possible, avoid driving during flash flood conditions. Of course, this isn’t always possible — often people are out when they get caught in a storm. The National Weather Service reports that nearly half of flash-flood fatalities are vehicle-related and the “majority” of victims are male.
First and foremost, never, ever drive through floodwaters or around a roadblock or barrier. “Turn around, don’t drown” is a well-worn NWS slogan for a reason. Just 6 inches of flowing water can move a car and just 12 inches can carry it away — it doesn’t matter how good of a driver you are.
Additionally, even if the water looks shallow, it might not be. “Do not attempt to cross a flooded road even if the car in front of you made it through,” meteorologist Bonnie Schneider writes in her book Extreme Weather.
If your car stalls in water, first responders want you to remember “seatbelt, windows, out.” Do not waste valuable time trying to call 911 and wait for rescue. Unbuckle immediately so you are free to move. Then roll down the windows so that if the car’s electrical system shorts out, you still have a means of escape. (As a backup, buy a “Lifehammer” to punch your way through the window and out of your car. If you do not have a Lifehammer or something similar, the pointy metal ends of a headrest can work in a pinch, The New York Times reports.)
At this point, there is “no right answer,” Joseph Bushra, the medical director with Narberth Ambulance, told WHYY. You need to assess the situation. If it is safe to exit your car and escape to higher ground, do so, but plan your path before getting out of the car and remember, just 6 inches of water can knock an adult over.
If it is not safe to try to make it to higher ground, then you need to get on top of your car. Turn on your hazard lights to make the car visible to first responders. Evacuate children first, starting with the oldest child, and tell them to hang onto whatever they can, The New York Times advises. Once you have evacuated and are on top of your car, then call 911.
It’s not called a “worst-case scenario” for nothing. So what do you do if you end up in the water during a flash flood?
Your number one priority should be to try to get out of the water as quickly as you can. Climb a tree, a building, a car or truck, or head toward any available higher ground.
If you are forced to swim, move perpendicular to the current. Keep in mind this is a last possible resort: “People need to realize that most people who lose their footing in a flash flood don’t get out,” Julie Munger, the founder of Sierra Rescue International, told The New York Times.
If swimming to safety isn’t possible, the Riverside County Fire Department recommends orienting your body so you’re on your back, with your feet down-current, so you can use them to move debris out of the way. “Most victims in swift water die when they get pinned against obstacles, or get trapped in submerged debris and vegetation,” the department writes. Get out of the water or on top of something as quickly as possible — and hold on tight.
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America’s largest renewable developer is swallowing up the utility at the heart of the data center boom.
NextEra Energy, which also owns the utility Florida Power & Light, announced Monday morning that it had agreed to acquire Dominion Energy, the utility that operates in Virginia and the Carolinas. The deal would create an energy giant valued at around $67 billion. It would also — importantly for Virginia and PJM Interconnection, the 13-state electricity market of which the state is a part — create a battery electric storage giant.
The companies said in a Monday presentation laying out the case for the merger to investors that the combined entity would be the largest power company in the United States and the third largest energy company behind just ExxonMobil and Chevron. The companies projected that, when combined, they would be the domestic leader in total generation, market capitalization, rate base, annual capital expenditure, total generation built, and, specifically, battery storage capacity.
NextEra is already a storage leader. Its Florida utility is planning to add 7.6 gigawatts of battery storage over the next decade, and its development arm added almost a gigawatt of storage to its backlog in just the first quarter of this year.
NextEra’s storage expertise couldn’t come at a better time for Dominion. Virginia passed a law in April mandating that the utility procure 16 gigawatts of short-duration storage and 4 gigawatts of long-duration storage by 2045, with 4 gigawatts of short-term storage coming by 2030. Compare that to a previous state target for Dominion of around 3 gigawatts of storage 2035 and the challenge becomes apparent.
“With NextEra Energy’s world leadership in battery storage, there’s a potential to accelerate Dominion Energy’s capital plan to meet Virginia’s storage goals,” NextEra Chief Executive John Ketchum said on a call with analysts discussing the merger plans.
The market Dominion operates in in Virginia, PJM Interconnection, has long been a laggard in bringing new storage resources onto its grid, thanks to its famously dysfunctional interconnection queue. Although its newly refreshed queue has seen a large increase in storage projects compared to when the organization closed it to new projects in 2022, the market is still well behind storage-friendly peers like California and Texas.
PJM has also become notorious more recently for its capacity market, which has fueled price increases across the region in the billions of dollars, and yet failed to procure the reserve margin PJM typically aims for in its most recent auction. “Given that we’re the world’s leader in battery storage and the legislation that was just passed by Virginia, there is a tremendous opportunity to meet that capacity short quickly by deploying battery storage in the right places,” Ketchum said Monday. “We know what a big impact battery storage can have, and how quickly it can have it on capacity-short positions. And so we look at a Dominion in Virginia with [a] short capacity position — I think there’s a real opportunity to accelerate investment.”
The proposed deal comes at a time of rising prices and public anger at utilities up and down the Eastern Seaboard, and especially in the Mid-Atlantic. Dominion’s rates in Virginia have risen around 36% in the past four years, according to the Heatmap-M.I.T. Electricity Price Hub, while typical bills have risen from about $96 per month to $146 per month. Virginia’s rates have grown faster than average in PJM, but are still well below the increases in states like Maryland and New Jersey despite serving a fast-growing data center industry.
While elected Democrats in PJM states regularly bash utilities (see: New Jersey and Pennsylvania), it’s possible that both Virginians and Virginia might look favorably on NextEra, Jefferies analyst Julien Dumoulin-Smith wrote in a note to clients Monday. “If [NextEra] focuses on storage development under the new Democratic legislation recently passed, it could form a coalition of support; we believe this is [a] critical point that could make the deal approval process less bumpy than some other recent M&A deals.”
Morningstar analyst Andrew Bischof saw the deal as allowing each side to use the other’s expertise (and balance sheet) to ramp up investment. Dominion might be able “leverage NextEra’s strong balance sheet to accelerate investment, particularly in Virginia,” whereas NextEra “could accelerate its data center ambitions, which had trailed those of its regulated peers, by using Dominion’s expertise and relationships to expedite NextEra’s data center hub plans,” he wrote in a note to clients Monday.
Building out more storage could also be great for a regulated utility like Dominion, as it would get to put new resources into its rate base and garner a return on equity.
“The General Assembly just added new storage requirements for us, which we think are going to be great for our customers, being able to work with Nextera and this combined company on that,” Dominion chief executive Robert Blue said on the call. “I think this is really going to benefit our customers as we serve them better and will deploy capital faster that way.”
On Thacker Pass, the Bonneville Power Administration, and Azerbaijan’s offshore wind
Current conditions: New York City is bracing for triple-digit heat in some parts of the five boroughs this week • The warm-up along the East Coast could worsen the drought parching the country’s southeastern shores • After Sunday reached 95 degrees Fahrenheit in the war-ravaged Gaza, temperatures in the Palestinian enclave are dropping back into the 80s and 70s all week.
Assuming world peace is something you find aspirational, here’s the good news: By all accounts, President Donald Trump’s two-day summit in Beijing with Chinese President Xi Jinping went well. Here’s the bad news: The energy crisis triggered by the Iran War is entering a grim new phase. Nearly 80 countries have now instituted emergency measures as the world braces for slow but long-predicted reverberations of the most severe oil shock in modern history. With demand for air conditioning and summer vacations poised to begin in the northern hemisphere’s summer, already-strained global supplies of crude oil, gasoline, diesel, and jet fuel will grow scarcer as the United States and Iran mutually blockade the Strait of Hormuz and halt virtually all tanker shipments from each other’s allies. “We are taking that outcome very seriously,” Paul Diggle, the chief economist at fund manager Aberdeen, told the Financial Times, noting that his team was now considering scenarios where Brent crude shoots up to $180 a barrel from $109 a barrel today. “We are living on borrowed time.”
The weekend brought a grave new energy concern over the conflict’s kinetic warfare. On Sunday, the United Arab Emirates condemned a drone strike it referred to as a “treacherous terrorist attack” that caused a fire near Abu Dhabi’s Barakah nuclear station. The UAE’s top English-language newspaper, The National, noted that the government’s official statement did not blame Iran explicitly. The attack came just a day after the International Atomic Energy Agency raised the alarm over drone strikes near nuclear plants after a swarm of more than 160 drones hovered near key stations in Ukraine last week.
We are apparently now entering the megamerger phase of the new electricity supercycle. On Friday, the Financial Times broke news that NextEra Energy is in talks with rival Dominion Energy for a tie-up that would create a more than $400 billion utility behemoth in one of the biggest deals of all time. The merger talks, which The Wall Street Journal confirmed, could be announced as early as this week. The combined company would reach from Dominion’s homebase of Virginia, where the northern half of the state is serving as what the FT called “the heartland of U.S. digital infrastructure serving the AI boom,” down to NextEra’s home-state of Florida, where the subsidiary Florida Power & Light serves roughly 6 million customers. While Dominion dominates data centers in Northern Virginia, NextEra last year partnered with Google to build more power plants and even reopen the Duane Arnold nuclear station in Iowa.

Trump digs lithium. In fact, he’s such a fan of Lithium Americas’ plan to build North America’s largest lithium mine on federal land in Nevada that he renegotiated a Biden-era deal to finance construction of the Thacker Pass project to secure a 5% equity stake in the publicly-traded developer. Yet the White House’s macroeconomic policies are pinching the nation’s lithium champion. During its first-quarter earnings call with investors last week, Lithium Americas cautioned that the Trump administration’s steel tariffs, coupled with inflation from disrupted shipments through the Strait of Hormuz, could add between $80 million and $120 million to construction costs at Thacker Pass. Most of the impact, Mining.com noted, is expected this year. Once mining begins, the project could spur new discussion of a strategic lithium reserve, the case for which Heatmap’s Matthew Zeitlin articulated here.
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The Department of Energy has selected Travis Kavulla, an energy industry veteran, as the 17th chief executive and administrator of the Bonneville Power Administration, NewsData reported. Founded under then-President Franklin D. Roosevelt in 1937, the federal agency is a holdover from the New Deal era before utilities had built out electrical networks in rural parts of the U.S. Unlike the Tennessee Valley Authority — which functions as a standalone utility that owns and sells power, though it’s wholly owned by the federal government and its board of directors is appointed by the White House — the BPA, as it’s known, is a power marketing agency that sells electricity from hydroelectric dams owned by the Army Corps of Engineers and the Department of the Interior’s Bureau of Reclamation. Kavulla currently serves as the head of policy for Base Power, the startup building a network of distributed batteries to back up the grid. He previously worked as the regulatory chief at the utility NRG Energy, and as a state utility commissioner in his home state of Montana. NewsData, a trade publication focused on Western energy markets, cautioned that the Energy Department may hold off on announcing the appointment for “the next few days or weeks” as sources warned that “it might be delayed while the department conducts a background check, or to allow the new undersecretary of energy, Kyle Haustveit, to be confirmed.”
Reached Sunday night via LinkedIn message, Kavulla politely declined to comment on whether he was appointed to lead the BPA.
Offshore wind may be spinning in reverse in the U.S. as the Trump administration attempts to, as Heatmap’s Jael Holzman put it, “murder” an industry through death by a thousand cuts. But elsewhere in the world, offshore wind is booming. Just look at Azerbaijan. Despite its vast reserves of natural gas, the nation on the Caspian Sea is looking into building its first offshore turbines. On Friday, offshoreWIND.biz reported that the Azerbaijan Green Energy Company, owned by the Baku-based industrial giant Nobel Energy, had commissioned a Spanish company to design a floating LiDAR-equipped buoy for the country’s first turbines in the Caspian. The debut project, backed by the Azeri government, would start with 200 megawatts of offshore wind and eventually triple in size.
Before the wealthy software entrepreneur Greg Gianforte ran to be governor of Montana, he donated millions of dollars to a Christian-themed museum that claims humans walked alongside dinosaurs and the Earth is just 6,000 years old. After winning the state’s top job, the Republican set about revoking virtually all policies related to climate change, including banning the projected effects of warming from state agencies’ risk forecasts. With drought withering the state, however, Gianforte has turned to perhaps the most ancient policy approach humanities leaders have called upon to fix devastating weather patterns: Pray. On Sunday, Gianforte declared an official day of prayer for rain. “Prayer is the most powerful tool we have,” he wrote in a post on X. “I ask all who are faithful to come to God with thanks and pray.”
With construction deadlines approaching, developers still aren’t sure how to comply with the new rules.
Certainty, certainty, certainty — three things that are of paramount importance for anyone making an investment decision. There’s little of it to be found in the renewable energy business these days.
The main vectors of uncertainty are obvious enough — whipsawing trade policy, protean administrative hostility toward wind, a long-awaited summit with China that appears to have done nothing to resolve the war with Iran. But there’s still one big “known unknown” — rules governing how companies are allowed to interact with “prohibited foreign entities,” which remain unwritten nearly a year after the One Big Beautiful Bill Act slapped them on just about every remaining clean energy tax credit.
The list of countries that qualify as “foreign entities of concern” is short, including Russian, Iran, North Korea, and China. Post-OBBBA, a firm may be treated as a “foreign-influenced entity” if at least 15% of its debt is issued by one of these countries — though in reality, China is the only one that matters. This rule also kicks in when there’s foreign entity authority to appoint executive officers, 25% or greater ownership by a single entity or a combined ownership of at least 40%.
Any company that wants to claim a clean energy tax credit must comply with the FEOC rules. How to calculate those percentages, however, the Trump administration has so far failed to say. This is tricky because clean energy projects seeking tax credits must be placed in service by the end of 2027 or start construction by July 4 of this year, which doesn’t leave them much time left to align themselves with the new rules.
While the Treasury Department published preliminary guidance in February, it largely covered “material assistance,” the system for determining how much of the cost of the project comes from inputs that are linked to those four nations (again, this is really about China). That still leaves the issue of foreign influence and “effective control,” i.e. who is allowed to own or invest in a project and what that means.
This has meant a lot of work for tax lawyers, Heather Cooper, a partner at McDermott Will & Schulte, told me on Friday.
“The FEOC ownership rules are an all or nothing proposition,” she said. “You have to satisfy these rules. It’s not optional. It’s not a matter of you lose some of the credits, but you keep others. There’s no remedy or anything. This is all or nothing.”
That uncertainty has had a chilling effect on the market. In February, Bloomberg reported that Morgan Stanley and JPMorgan had frozen some of their renewables financing work because of uncertainty around these rules, though Cooper told me the market has since thawed somewhat.
“More parties are getting comfortable enough that there are reasonable interpretations of these rules that they can move forward,” she said. “The reality is that, for folks in this industry — not just developers, but investors, tax insurers, and others — their business mandate is they need to be doing these projects.”
Some of the most frequent complaints from advisors and trade groups come around just how deep into a project’s investors you have to look to find undue foreign ownership or investment.
This gets complicated when it comes to the structures involved with clean energy projects that claim tax credits. They often combine developers (who have their own investors), outside investment funds, banks, and large companies that buy the tax credits on the transferability market.
These companies — especially the banks, which fund themselves with debt — “don’t know on any particular date how much of their debt is held by Chinese connected lenders, and therefore they’re not sure how the rules apply, and that’s caused a couple of banks to pull out of the tax equity market,” David Burton, a partner at Norton Rose Fulbright, told me. “It seems pretty crazy that a large international bank that has its debt trading is going to be a specified foreign entity because on some date, a Chinese party decided to take a large position in its debt.”
For those still participating in the market, the lack of guidance on debt and equity provisions has meant that lawyers are having to ascend the ladder of entities involved in a project, from private equity firms who aren’t typically used to disclosing their limited partners to developers, banks, and public companies that buy the tax credits.
“We’re having to go to private equity funds and say, hey, how many of your LPs are Chinese?” David Burton, a partner at Norton Rose Fulbright, told me. This is not information these funds are typically particularly eager to share. If a lawyer “had asked a private equity firm please tell us about your LPs, before One Big Beautiful Bill, they probably would have told us to go jump in the lake,” Burton said.
Still, the deals are still happening, but “the legal fees are more expensive. The underwriting and due diligence time is longer, there are more headaches,” he told me.
Typically these deals involve joint ventures that formed for that specific deal, which can then transfer the tax credits to another entity with more tax liability to offset. The joint venture might be majority owned by a public company, with a large minority position held by a private equity fund, Burton said.
For the public company, Burton said, his team has to ask “Are any of your shareholders large enough that they have to be disclosed to the SEC? Are any of those Chinese?” For the private equity fund, they have to ask where its investors are residents and what countries they’re citizens of. While private equity funds can be “relatively cooperative,” the process is still a “headache.”
“It took time to figure out how to write these certifications and get me comfortable with the certification, my client comfortable with it, the private equity firm comfortable with it, the tax credit buyer comfortable with it,” he told me, referring to the written legal explanation for how companies involved are complying with what their lawyers think the tax rules are.
Players such as the American Council on Renewable Energy hope that guidance will cut down on this certification time by limiting the universe of entities that will have to scrub their rolls of Chinese investors or corporate officers.
“It’d be nice if we knew you only have to apply the test at the entity that’s considered the tax owner of the project,” i.e. just the joint venture that’s formed for a specific project, Cooper told me.
“There’s a pretty reasonable and plain reading of the statute that limits the term ’taxpayer’ to the entity that owns the project when it’s placed in service,” Cooper said.
Many in the industry expect more guidance on the rules by the end of year, though as Burton noted, “this Treasury is hard to predict.”
In the meantime, expect even more work for tax lawyers.
“We’re used to December being super busy,” Burton said. “But it now feels like every month since the One Big Beautiful Bill passed is like December, so we’ve had, like, you know, eight Decembers in a row.”