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These 7 neighborhoods are competing visions of a more sustainable future.
I’m a serial cheater, emotionally, on New York City. As much as Queens is my home, one of my favorite ways to lose track of time is by going down the Zillow rabbit hole and imagining all the other lives I could live somewhere else. If I had $2 million, would I move into a houseboat to live out my Sleepless in Seattle dreams? (You laugh, but at least a floating home is floodproof!). Or maybe I’d go to California to be closer to my extended family? (Never mind — I’d never be able to afford the fire insurance).
Recently I’ve become especially captivated by “intentional communities,” of which there are thousands worldwide and hundreds in the United States alone. These are experimental master-planned neighborhoods that revolve around shared values that often pertain to things like sustainability, communal living, green spaces, and minimizing individual impact — things that might be necessary to adopt in some form on a wider scale in the coming years.
Some of these communal neighborhoods are pretty out there (think aquaponics that runs off a “VillageOS”). Others are so alluring that without even realizing it, I found myself browsing their availability pages. Oops — don’t tell New York.
Here are a few of the innovative neighborhoods that caught my eye:
Location: Utrecht, Netherlands
Courtesy MVSA Architects
You’ve joked about running away to go live in the woods, but what if you didn’t have to make the choice?
Designed by Stefano Boeri of Verticle Forest fame and Roberto Meyer of the Dutch firm MVSA Architects, Wonderwoods is a 200-apartment, two-tower project in Utrecht, the fourth-biggest city in the Netherlands. The pair of structures, set to open in 2024, look in the renderings like something nature has reclaimed. But the 10,000 plants and 300 trees that will eventually cover the buildings’ balconies, roofs, and facades aren’t just there to look cool.
By decking out Wonderwoods in the equivalent of one hectare of forest, the designers aim to maximize the known benefits of urban tree planting: Plants suck up CO2, help filter out environmental pollutants, and can even generate microclimates that will be important in a warming world (the cooling effects of plants will also help reduce the energy demand of air conditioners).
Wonderwoods’ co-designer, Boeri, has been called “perhaps the most famous name in green architecture,” and he is both prolific and influential: The Dutch project is just one of the dozens of plant-coated buildings that have been, or are being, constructed around the world.
Not all of these experiments have been successful — rumor has it the Qiyi City Forest in Chengdu is overgrown and bug infested — and some scientists have downplayed the greenhouse gas-mitigating effects of so-called biophilic design. Still, if we’re to survive in a hotter, more concrete-covered world, we’ll need to bring plants along with us.
Would I live here?: I’ve always been jealous of people who junglefy their living spaces with lots and lots of plants (Hilton Carter, please decorate my home!). Tragically, I don’t always have the greenest thumb — I’m an overenthusiastic waterer — but the good news is, Wonderwoods has a team of rappelling gardeners who will maintain the exterior vegetation for you. Getting to enjoy the lushness of a rural forest in the heart of urban Europe without having to do any of the work? Count me in — I’d live here for sure.
Live, Work & Play at Wonderwoodswww.youtube.com
Location: Tempe, Arizona
Courtesy Culdesac
Forget electric vehicles: Residents of Culdesac, a rental community just across the river from Phoenix in Tempe, Arizona, are “contractually forbidden from parking a vehicle within a quarter-mile radius of the site.”
While that might sound practically un-American to some, it’s a paradise for others. The 17-acre, $170-million project includes 761 apartments, a light rail stop (which is free with residency), communal courtyards, a coffee shop, restaurant, gym, grocery store, soon-to-open coworking space, car-share pick-up and drop-off, and, yes, visitor parking.
Culdesac isn’t the only car-free community in America, as Jalopnik reports. But while the communities tend to be popular, especially with young professionals (40% of the people on Culdesac’s opening waitlist were from outside of Arizona), “these kinds of developments often aren’t legal to build in large parts of the country due to mandatory parking minimums,” Jalopnik adds.
That doesn’t deter its founders. The long-term “vision of Culdesac,” Ryan Johnson, Culdesac’s chief executive, told The New York Times, is to eventually “build the first car-free city in the U.S.”
Would I live here?: One of the biggest deterrents against leaving New York City is being saddled with car payments — not to mention that my husband doesn’t drive. Despite being located in the heart of the Phoenix sprawl, Culdesac seems genuinely committed to making a car-free lifestyle work for its residents, offering benefits like free rides on the metro, bike parking, $5-an-hour car-sharing, complimentary Lyft Pink, and rentable Bird scooters on site. Coming from the New York real estate market, its prices also seem reasonable — available one-bedroom units start at $1,390 a month. I know because I was tempted enough to look. If only I liked the heat a little more …
Culdesac Tempe: The First Car-free Community Built From Scratch in the USwww.youtube.com
Location: Vienna, Austria
Anja Pfeifer/Getty Images
Vienna is one of the fastest-growing cities in Europe, which has created a massive demand for housing. In order to meet the demand, Vienna is building a city within a city — and taking it as an opportunity to do things right.
With over 11,000 new homes (including the world’s second-tallest timber building), the neighborhood of Aspern Seestadt is nearly net-zero, relying on technology and cutting-edge construction techniques to lower its footprint. Excess heat and electricity in one building can be sent to another, for example, while 80% of its residents reportedly travel by bike, foot, or public transit.
But what sets Aspern Seestadt apart from other green, pedestrian-friendly communities around the globe is its emphasis on centering women’s and families’ needs. For one thing, all of the streets and public spaces in the neighborhood are named after women, but the attention goes beyond the symbolic — the pavement is also wide to accommodate strollers, and ramps are included alongside staircases; parks and other gathering spaces have plentiful public toilets; pram parking and storage are readily accessible. There are also extra safety measures, like more lights in dark spaces, abundant alarms and assistance buttons, and extra guards during nighttime hours.
Buildings in Aspern Seestadt also mix housing with nurseries, shops, and coworking spaces so “women, as well as men, can … better reconcile professional and personal life,” Germany’s Gettotext.com reports. It’s a model more intentional communities should take note of.
Would I live here?: Vienna has repeatedly been cited as the city with the highest quality of life in the world although the picture might not be as rosy if you aren’t Austrian. The expat resource website InterNations lists Vienna as the “worst-rated city” in the world when it comes to the “ease of settling in” due in large part to it also being in last place for “local friendliness.” As amazing as it’d be to be integrated into a community like Aspern Seestadt — especially, eventually, as a mother — it’d probably be terribly isolating to get the cold shoulder from my new neighbors. For the “new girl in the high school” vibes this is giving me, I’d potentially pass.
Vienna is Building a $6BN "City Within a City"www.youtube.com
Location: Barcelona, Spain
Pol Albarran/Getty Images
One of the major criticisms of intentional communities is that they’re not actually all that “green” since they require new construction, which in turn uses up resources and adds to emissions. Additionally, many of the neighborhoods featured in this article simply aren’t scaleable to the necessary degree; 4.4 billion people live in cities and moving all of them into net-zero villages or buildings would be next to impossible.
But what if existing neighborhoods could retroactively be made greener and more habitable? That’s the radical idea behind Barcelona’s superilles, or superblocks, which began reclaiming city streets for pedestrians back in 2013. The basic idea involves cordoning off 3x3 city blocks, diverting thru-traffic around the “islands,” and limiting the roads within the blocks to six-mile-per-hour residential traffic. This transforms the interiors of the superblocks into safe places for pedestrians to walk and kids to play; the new green spaces help eliminate the urban heat island effect and boost mental health; and the walkability encourages increased foot traffic, in turn reducing emissions.
The experiment has been an enormous success: NO2 pollution has dropped 33%; noise in superblocks dipped by 9 decibels, and local businesses have seen increased sales as residents opt to shop within walking distance, a positive illustration of the urban planning concept known as the 15-minute city.
Today, there are only six superblocks in the capital of Catalonia, but the goal is to expand the concept city-wide to potentially as many as 500. In the next decade, it aims for every resident to have a public square and a green street within 650 feet of their home.
Would I live here?: Psst, New York City, can’t you take a hint? The COVID-19 pandemic gave New Yorkers a taste of what it might be like if our city prioritized the needs of pedestrians over drivers with its “open streets” program, although most of that progress has been rolled back. Barcelona is proving we could be better if only we had our priorities in the right place. Sure, it’s a sí from me when it comes to moving to Spain, but it’d be even neater if we could bring the superblock experiment back home.
Superblocks: How Barcelona is taking city streets back from carswww.youtube.com
Location: Near Amsterdam, Netherlands
Courtesy ReGen
“The Tesla of Eco-Villages” might not sound quite as appealing as it once did. But if you want to live minimally but aren’t quite ready to give up your Apple Watch, then ReGen Villages might be for you.
While other projects I've highlighted reimagine urban living, ReGen Villages wants to reinvent the “neighborhood development outside of cities.” The 50-acre community of 300 homes is planned for a rural region about a half-hour drive outside of Amsterdam and aims to combine vertical farming, aquaponics, renewable energy, and waste-to-resource systems to form an almost entirely self-sustaining, closed-loop community.
But this isn’t your hippie aunt’s crunchy, off-the-grid living. Conducting the complicated system will be the “Village OS” software, which eventually will use AI to “optimize living conditions, energy use, and overall efficiency,” and even potentially communicate with other future ReGen Villages around the planet, Insider reports.
ReGen Village has run into a number of roadblocks since it was first announced — construction on the complex was originally slated to begin in 2017 but it has encountered zoning, permitting, and funding problems and its website says the company is “in [the] process of raising a Series-A round of investment” to build out the operating system to test in “pilot communities.” But if the Amsterdam location doesn’t work out, stay tuned; ReGen is a California-based company and it reports interest in the concept is high in the U.S., particularly the Northeast.
Would I live here?: I’m all for off-the-grid living but something about ReGen Villages feels a little … cult-y? Maybe it’s the all-seeing AI, or the active discouragement of owning a car while living in a rural area, but something about this whole scheme sounds like the starting premise of an Ari Aster film. I’ll keep my cell reception, thanks.
ReGen Villages - Index Award 2017 Finalistwww.youtube.com
Location: Dubai, United Arab Emirates
Screenshot/YouTube
A desert oil state might seem like an unlikely place for a sustainable city; in 2003, the United Arab Emirates had the highest ecological footprint per person of any nation (and it’s not much better now). But as part of a region-wide effort to convince the rest of the world that climate objectives are compatible with fossil fuels, the UAE is hosting COP28 and touting lofty goals like making Dubai the city with the smallest carbon footprint in the world by 2050.
The 120-acre, $354 million Sustainable City is one of the crown jewels of that ongoing effort. Constructed 18 miles in the desert outside of Dubai by Diamond Developers, which built the city’s famous marina, the Sustainable City is intended as a model net-zero neighborhood, complete with self-sufficient greenhouses and biodomes, recycled water, solar panels, and intelligent design (the villas, home to some 2,500 residents, all face north, which the developers claim cuts air conditioning usage by 40%). Cars are banned inside the compound and a shopping plaza, complete with a mosque, serves all the residents’ needs.
Critics are highly skeptical of the Sustainable City, arguing the project is an “‘island’ of specialized consumption and lifestyle … that does not actually take on the challenge of sustainability.” Supporters, on the other hand, describe it as a “living laboratory” where developers are learning in real-time how to make habitable one of the most climate-threatened places on Earth. True, the Sustainable City might not be the solution to Dubai’s problems — at worst, it might represent another instance of the UAE’s greenwashing. But if its experiment is successful, the solutions it discovers could help inform better-living for everyone.
Would I live here?: There is a reason most of the homes on this list are variations on high-density living; dense urban housing tends to be far more energy efficient. While having your own villa in the Sustainable City would be pretty sweet, it does give the impression that this is just another gated community surrounded by all the other gated communities also touting their green bona fides in Dubai. On top of the human rights violations I’d have to turn a blind eye to in order to live in the United Arab Emirates, I’m not sure the Sustainable City would be right for me.
Sustainable City | Fully Chargedwww.youtube.comSc
Location: Austin, Texas
Screenshot/YouTube
Bringing people in closer harmony with the Earth is the goal of many sustainable communities. Whisper Valley, a 2,000-acre development in Austin, just takes it a little more literally.
At first, Whisper Valley looks like many innovative developments popping up across America: The 7,700 homes come with solar panels, Google Nest thermostats, nearby community centers, and ample public green spaces (in this case, a massive 600-acre park that doubles as flood control). But what sets the community apart is what you can’t see: Whisper Valley sits on the largest geothermal grid in the world.
Drawing on the steady temperature of the deep Earth, geothermal is gaining popularity as a means of slashing energy costs and emissions associated with heating and cooling homes. In combination with solar panels, monthly energy bills in Whisper Valley run residents only about one dollar.
But the low energy impact and savings are not the only things that make Whisper Valley a model neighborhood for the future. Because of its reliance on geothermal energy, the community had no problem staying warm when a 2021 energy surge during the deadly Texas Snowpocalypse left millions of people without heat for days. “As extreme weather gets more destructive,” Fast Company writes, geothermal solutions like that in Whisper Valley may be “a way for communities to withstand their own version of Snowpocalypse.”
Would I live here?: The suburbanite in me loves a lot about Whisper Valley — the stand-alone energy-efficient homes, the communal gathering spaces, the emphasis on healthy outdoor-oriented lifestyles, and the charging stations that come already installed in the garages. For most Americans, the development likely represents a feasible way to lower the family footprint while not compromising on many of the things we’ve come to take for granted, such as having our own space and the freedom that comes with owning a car. As far as daydreams go, Whisper Valley is perhaps a little underwhelming compared to living in a sky-forest or a luxury villa. But in terms of places that real Americans might actually be convinced to live, Whisper Valley is as exciting as it gets.
Whisper Valley - East Austin's New Zero-Energy Capable Communitywww.youtube.com
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It’s not perfect, but pretty soon, it’ll be available for under $30,000.
Here’s what you need to know about the rejuvenated Chevrolet Bolt: It’s back, it’s better, and it starts at under $30,000.
Although the revived 2027 Bolt doesn’t officially hit the market until January 2026, GM revealed the new version of the iconic affordable EV at a Wednesday evening event at the Universal Studios backlot in Los Angeles. The assembled Bolt owners and media members drove the new cars past Amity Island from Jaws and around the Old West and New York sets that have served as the backdrops of so many television shows and movies. It was star treatment for a car that, like its predecessor, isn’t the fanciest EV around. But given the giveaway patches that read “Chevy Bolt: Back by popular demand,” it’s clear that GM heard the cries of people who missed having the plucky electric hatchback on the market.
The Bolt died at the height of its powers. The original Bolt EV and Bolt EUV sold in big numbers in the late 2010s and early 2020s, powered by a surprisingly affordable price compared to competitor EVs and an interior that didn’t feel cramped despite its size as a smallish hatchback. In 2023, the year Chevy stopped selling it, the Bolt was the third-best-selling EV in America after Tesla’s top two models.
Yet the original had a few major deficiencies that reflected the previous era of EVs. The most egregious of which was its charging speed that topped out at around 50 kilowatts. Given that today’s high-speed chargers can reach 250 to 350 kilowatts — and an even faster future could be on the way — the Bolt’s pit stops on a road trip were a slog that didn’t live up to its peppy name.
Thankfully, Chevy fixed it. Charging speed now reaches 150 kilowatts. While that figure isn’t anywhere near the 350 kilowatts that’s possible in something like the Hyundai Ioniq 9, it’s a threefold improvement for the Bolt that lets it go from 10% to 80% charged in a respectable 26 minutes. The engineers said they drove a quartet of the new cars down old Route 66 from the Kansas City area, where the Bolt is made, to Los Angeles to demonstrate that the EV was finally ready for such an adventure.
From the outside, the 2027 Bolt is virtually indistinguishable from the old car, but what’s inside is a welcome leap forward. New Bolt has a lithium-ion-phosphate, or LFP battery that holds 65 kilowatt-hours of energy, but still delivers 255 miles of max range because of the EV’s relatively light weight. Whereas older EVs encourage drivers to stop refueling at around 80%, the LFP battery can be charged to 100% regularly without the worry of long-term damage to the battery.
The Bolt is GM’s first EV with the NACS charging standard, the former Tesla proprietary plug, which would allow the little Chevy to visit Tesla Superchargers without an adapter (though its port placement on the front of the driver’s side is backwards from the way older Supercharger stations are built). Now built on GM’s Ultium platform, the Bolt shares its 210-horsepower electric motor with the Chevy Equinox EV and gets vehicle-to-load capability, meaning you’ll be able to tap into its battery energy for other uses such as powering your home.
But it’s the price that’s the real wow factor. Bolt will launch with an RS version that gets the fancier visual accents and starts at $32,000. The Bolt LT that will be available a little later will eventually start as low as $28,995, a figure that includes the destination charge that’s typically slapped on top of a car’s price, to the tune of an extra $1,000 to $2,000 on delivery. Perhaps it’s no surprise that GM revealed this car just a week after the end of the $7,500 federal tax credit for EV purchases (and just a day after Tesla announced its budget versions of the Model Y and Model 3). Bringing in a pretty decent EV at under $30,000 without the help of a big tax break is a pretty big deal.
The car is not without compromises. Plenty of Bolt fans are aghast that Chevy abandoned the Apple CarPlay and Android Auto integrations that worked with the first Bolt in favor of GM’s own built-in infotainment system as the only option. Although the new Bolt was based on the longer, “EUV” version of the original, this is still a pretty compact car without a ton of storage space behind the back seats. Still, for those who truly need a bigger vehicle, there’s the Chevy Equinox EV.
For as much time as I’ve spent clamoring for truly affordable EVs that could compete with entry-level gas cars on prices, the Bolt’s faults are minor. At $29,000 for an electric vehicle in the U.S., there is practically zero competition until the new Nissan Leaf arrives. The biggest threats to the Bolt are America’s aversion to small cars and the rapid rates of depreciation that could allow someone to buy a much larger, gently used EV for the price of the new Chevy. But the original Bolt found a steady footing among drivers who wanted that somewhat counter-cultural car — and this one is a lot better.
“Old economy” companies like Caterpillar and Williams are cashing in by selling smaller, less-efficient turbines to impatient developers.
From the perspective of the stock market, you’re either in the AI business or you’re not. If you build the large language models pushing out the frontiers of artificial intelligence, investors love it. If you rent out the chips the large language models train on, investors love it. If you supply the servers that go in the data centers that power the large language models, investors love it. And, of course, if you design the chips themselves, investors love it.
But companies far from the software and semiconductor industry are profiting from this boom as well. One example that’s caught the market’s fancy is Caterpillar, better known for its scale-defying mining and construction equipment, which has become a “secular winner” in the AI boom, writes Bloomberg’s Joe Weisenthal.
Typically construction businesses do well when the overall economy is doing well — that is, they don’t typically take off with a major technological shift like AI. Now, however, Caterpillar has joined the ranks of the “picks and shovels” businesses capitalizing on the AI boom thanks to its gas turbine business, which is helping power OpenAI’s Stargate data center project in Abilene, Texas.
Just one link up the chain is another classic “old economy” business: Williams Companies, the natural gas infrastructure company that controls or has an interest in over 33,000 miles of pipeline and has been around in some form or another since the early 20th century.
Gas pipeline companies are not supposed to be particularly exciting, either. They build large-scale infrastructure. Their ratemaking is overseen by federal regulators. They pay dividends. The last gas pipeline company that got really into digital technology, well, uh, it was Enron.
But Williams’ shares are up around 28% in the past year — more than Caterpillar. That’s in part, due to its investing billions in powering data centers with behind the meter natural gas.
Last week, Williams announced that it would funnel over $3 billion into two data center projects, bringing its total investments in powering AI to $5 billion. This latest bet, the company said, is “to continue to deliver speed-to-market solutions in grid-constrained markets.”
If we stipulate that the turbines made by Caterpillar are powering the AI boom in a way analogous to the chips designed by Nvidia or AMD and fabricated by TSMC, then Williams, by developing behind the meter gas-fired power plants, is something more like a cloud computing provider or data center developer like CoreWeave, except that its facilities house gas turbines, not semiconductors.
The company has “seen the rapid emergence of the need for speed with respect to energy,” Williams Chief Executive Chad Zamarin said on an August earnings call.
And while Williams is not a traditional power plant developer or utility, it knows its way around natural gas. “We understand pipeline capacity,” Zamarin said on a May earnings call. “We obviously build a lot of pipeline and turbine facilities. And so, bringing all the different pieces together into a solution that is ready-made for a customer, I think, has been truly a differentiator.”
Williams is already behind the Socrates project for Meta in Ohio, described in a securities filing as a $1.6 billion project that will provide 400 megawatts of gas-fired power. That project has been “upsized” to $2 billion and 750 megawatts, according to Morgan Stanley analysts.
Meta CEO Mark Zuckerberg has said that “energy constraints” are a more pressing issue for artificial intelligence development than whether the marginal dollar invested is worth it. In other words, Zuckerberg expects to run out of energy before he runs out of projects that are worth pursuing.
That’s great news for anyone in the business of providing power to data centers quickly. The fact that developers seem to have found their answer in the Williamses and Caterpillars of the world, however, calls into question a key pillar of the renewable industry’s case for itself in a time of energy scarcity — that the fastest and cheapest way to get power for data centers is a mix of solar and batteries.
Just about every renewable developer or clean energy expert I’ve spoken to in the past year has pointed to renewables’ fast timeline and low cost to deploy compared to building new gas-fired, grid-scale generation as a reason why utilities and data centers should prefer them, even absent any concerns around greenhouse gas emissions.
“Renewables and battery storage are the lowest-cost form of power generation and capacity,” Next Era chief executive John Ketchum said on an April earnings call. “We can build these projects and get new electrons on the grid in 12 to 18 months.” Ketchum also said that the price of a gas-fired power plant had tripled, meanwhile lead times for turbines are stretching to the early 2030s.
The gas turbine shortage, however, is most severe for large turbines that are built into combined cycle systems for new power plants that serve the grid.
GE Vernova is discussing delivering turbines in 2029 and 2030. While one manufacturer of gas turbines, Mitsubishi Heavy Industries, has announced that it plans to expand its capacity, the industry overall remains capacity constrained.
But according to Morgan Stanley, Williams can set up behind the meter power plants in 18 months. xAI’s Colossus data center in Memphis, which was initially powered by on-site gas turbines, went from signing a lease to training a large language model in about six months.
These behind the meter plants often rely on cheaper, smaller, simple cycle turbines, which generate electricity just from the burning of natural gas, compared to combined cycle systems, which use the waste heat from the gas turbines to run steam turbines and generate more energy. The GE Vernova 7HA combined cycle turbines that utility Duke Energy buys, for instance, range in output from 290 to 430 megawatts. The simple cycle turbines being placed in Ohio for the Meta data center range in output from about 14 megawatts to 23 megawatts.
Simple cycle turbines also tend to be less efficient than the large combined cycle system used for grid-scale natural gas, according to energy analysts at BloombergNEF. The BNEF analysts put the emissions difference at almost 1,400 pounds of carbon per megawatt-hour for the single turbines, compared to just over 800 pounds for combined cycle.
Overall, Williams is under contract to install 6 gigawatts of behind-the-meter power, to be completed by the first half of 2027, Morgan Stanley analysts write. By comparison, a joint venture between GE Vernova, the independent power producer NRG, and the construction company Kiewit to develop combined cycle gas-fired power plants has a timeline that could stretch into 2032.
The Williams projects will pencil out on their own, the company says, but they have an obvious auxiliary benefit: more demand for natural gas.
Williams’ former chief executive, Alan Armstrong, told investors in a May earnings call that he was “encouraged” by the “indirect business we are seeing on our gas transmission systems,” i.e. how increased natural gas consumption benefits the company’s traditional pipeline business.
Wall Street has duly rewarded Williams for its aggressive moves.
Morgan Stanley analysts boosted their price target for the stock from $70 to $83 after last week’s $3 billion announcement, saying in a note to clients that the company has “shifted from an underappreciated value (impaired terminal value of existing assets) to underappreciated growth (accelerating project pipeline) story.” Mizuho Securities also boosted its price target from $67 to $72, with analyst Gabriel Moreen telling clients that Williams “continues to raise the bar on the scope and potential benefits.”
But at the same time, Moreen notes, “the announcement also likely enhances some investor skepticism around WMB pushing further into direct power generation and, to a lesser extent, prioritizing growth (and growth capex) at the expense of near-term free cash flow and balance sheet.”
In other words, the pipeline business is just like everyone else — torn between prudence in a time of vertiginous economic shifts and wanting to go all-in on the AI boom.
Williams seems to have decided on the latter. “We will be a big beneficiary of the fast rising data center power load,” Armstrong said.
On billions for clean energy, Orsted layoffs, and public housing heat pumps
Current conditions: A tropical rainstorm is forming in the Atlantic that’s forecast to barrel along the East Coast through early next week, threatening major coastal flooding and power outages • Hurricane Priscilla is weakening as it tracks northward toward California • The Caucasus region is sweltering in summer-like heat, with the nation of Georgia enduring temperatures of up to 93 degrees Fahrenheit in October.
Base Power, the Texas power company that leases batteries to homeowners and taps the energy for the grid, on Tuesday announced a $1 billion financing round. The Series C funding is set to supercharge the Austin-based company’s meteoric growth. Since starting just two years ago, Base has deployed more than 100 megawatts of residential battery capacity, making it one of the fastest growing distributed energy companies in the nation. The company now plans to build a factory in the old headquarters of the Austin American-Statesman, the leading daily newspaper in the Texan capital. The funding round included major investors who are increasing their stakes, including Valor Equity Partners, Thrive Capital, and Andreessen Horowitz, and at least nine new venture capital investors, including Lowercarbon, Avenir, and Positive Sum. “The chance to reinvent our power system comes once in a generation,” Zach Dell, chief executive and co-founder of Base Power, said in a statement. “The challenge ahead requires the best engineers and operators to solve it and we’re scaling the team to make our abundant energy future a reality.”
The deal came a day after Brookfield Asset Management, the Canadian-American private equity giant, raised a record $23.5 billion for its clean energy fund. At least $5 billion has already been spent on investments such as the renewable power operator Neoen, the energy developer Geronimo Power, and the Indian wind and solar giant Evren. “Energy demand is growing fast, driven by the growth of artificial intelligence as well as electrification in industry and transportation,” Connor Teskey, Brookfield’s president and renewable power chief, said in a press release. “Against this backdrop we need an ‘any and all’ approach to energy investment that will continue to favor low carbon resources.”
Orsted has been facing down headwinds for months. The Danish offshore wind giant has absorbed the Trump administration’s wrath as the White House deployed multiple federal agencies to thwart progress on building seaward turbines in the Northeastern U.S. Then lower-than-forecast winds this year dinged Orsted’s projected earnings for 2025. When the company issued new stock to fund its efforts to fight back against Trump, the energy giant was forced to sell the shares at a steep discount, as I wrote in this newsletter last month. Despite all that, the company has managed to raise the money it needed. On Wednesday, The Wall Street Journal reported that Orsted had raised $9.4 billion. Existing shareholders subscribed for 99.3% of the new shares on offer, but demand for the remaining shares was “extraordinarily high,” the company said.
That wasn’t enough to stave off job cuts. Early Thursday morning, the company announced plans to lay off 2,000 employees between now and 2027. The cuts represented roughly one-quarter of the company’s 8,000-person global workforce. “This is a necessary consequence of our decision to focus our business and the fact that we'll be finalizing our large construction portfolio in the coming years — which is why we'll need fewer employees,” Rasmus Errboe, Orsted’s chief executive, said in a statement published on CNBC. "At the same time, we want to create a more efficient and flexible organization and a more competitive Orsted, ready to bid on new value-accretive offshore wind projects.”
California Governor Gavin Newsom. Mario Tama/Getty Images
California operates the world’s largest geothermal power station, The Geysers, and generates up to 5% of its power from the Earth’s heat. But the state is far behind its neighbors on developing new plants based on next-generation technology. Most of the startups racing to commercialize novel methods are headquartered or building pilot plants in states such as Utah, Nevada, and Texas. A pair of bills to make doing business in California easier for geothermal companies was supposed to change that. Yet while Governor Gavin Newsom signed one statute into law that makes it easier for state regulators to certify geothermal plants, he vetoed a permitting reform bill to which the industry had pegged its hopes. “Every geothermal developer and energy org I talked to was excited about this bill,” Thomas Hochman, who heads the energy program at the right-leaning Foundation for American Innovation, wrote in a post on X. “The legislature did everything right, passing it unanimously. They even reworked it to accommodate certain classic California concerns, such as prevailing wage requirements.”
In a letter announcing his veto, the governor claimed that the law would have added new fees for geothermal projects. But an executive at Zanskar — the startup that, as Heatmap’s Katie Brigham reported last month, is using new technology to locate and tap into conventional geothermal resources — called the governor’s argument “weak sauce.” Far from burdening the industry, Zanskar co-founder Joel Edwards said on X, “this was a clean shot to accelerate geothermal today, and he whiffed it.”
Last month, Generate Capital trumpeted the appointment of its first new chief executive in its 11-year history as the leading infrastructure investment firm sought to realign its approach to survive a tumultuous time in clean-energy financing. Less publicly, as Katie wrote in a scoop last night, it also kicked off company-wide job cuts. In an interview with Katie, Jonah Goldman, the firm’s head of external affairs, said the company “grew quickly and made some mistakes,” and now planned to lay off 50 people.
Generate once invested in “leading-edge technologies,” according to co-founder Jigar Shah, who left the firm to serve as the head of the Biden-era DOE Loan Programs Office. That included investments in projects involving fuel cells, anaerobic digesters, and battery storage. But from the outside, he said on the Open Circuits podcast he now co-hosts, the firm appears to have moved away from taking these riskier but potentially more lucrative bets. “They ended up with 38 people in their capital markets team, and their capital markets team went out to the marketplace and said, Hey, we have all this stuff to sell. And the people that they went to said, Well, that’s interesting, but what we really would love is boring community solar.”
Three of New England’s largest public housing agencies signed deals with the heat pump manufacturer Gradient to replace aging electric heaters and air conditioners with the company’s 120-volt, two-way units that provide both heating and cooling. The Boston Housing Authority, New England’s largest public housing agency, will kick off the deal by installing 100 all-weather, two-way units that both heat and cool at the Hassan Apartments, a complex for seniors and adults with disabilities in Boston’s Mattapan neighborhood. The housing authorities in neighboring Chelsea and Lynn — two formerly industrial, working-class cities just outside Boston — will follow the same approach.
Public housing agencies have long served a vital role in helping to popularize new, more efficient appliances. The New York City Housing Authority, for example, is credited with creating the market for efficient mini fridges in the 1990s. Last year, NYCHA — the nation’s largest public housing system — signed a similar deal with Gradient for heat pumps. Months later, as Heatmap’s Emily Pontecorvo exclusively reported at the time, NYCHA picked a winner in its $32 million contest for an efficient new induction stove for its apartments.
Three chemists — Susumu Kitagawa, Richard Robson, and Omar Yaghi — won the Nobel Prize for “groundbreaking discoveries” that "may contribute to solving some of humankind’s greatest challenges, from pollution to water scarcity.” Just a few grams of the so-called molecular organic frameworks the scientists pioneered could have as much surface area as a soccer field, which can be used to lock gas molecules in place in carbon capture or harvest freshwater from the atmosphere.