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Here’s what the American Conservation Coalition hopes to hear at the first Republican debate.
After the first Republican presidential debate wraps up in Milwaukee on Wednesday night, the candidates will be invited to an unusual reception. The official afterparty has been sponsored by the American Conservation Coalition, a young conservative advocacy group that has made a name for itself advocating for Republican Party leaders to act on climate change.
The group was founded in 2017 by Benji Backer, a student at the University of Washington who wanted to see the party return to its Rooseveltian environmental roots, and was convinced that his peers felt the same. While polls consistently show that climate change is not a priority for Republican voters — many don’t even consider it a threat — the picture changes when broken down by age, with younger generations wanting the government to do more on the issue.
The ACC has since grown into a network of about 20,000 members and helped pass a handful of bipartisan bills under both the Trump and Biden administrations, including the Great Outdoors Act, which directed billions to the National Parks Service for deferred maintenance, and the Growing Climate Solutions Act, designed to help farmers engage in carbon markets. In general, the ACC wants to see the government invest more in innovation, conservation, and domestic energy production, and mostly get out of the market’s way. Most recently, it has been pushing for Congress to streamline environmental reviews to speed up energy development, an issue often summarized as “permitting reform.”
But the ACC has faced an uphill battle. Climate change is still polarizing in Congress, and solutions are increasingly framed by conservative officials and pundits in culture war terms. Now, gearing up for the first presidential election since the group’s founding, the ACC hopes to convince Republican candidates, who have been mostly reticent about the warming planet, to start talking about it. “Fewer than half of Americans believe that Biden's climate policies are taking the country in the right direction,” the ACC’s new president, Christopher Barnard, told me, citing a recent Pew survey. “That offers an incredible opportunity for Republicans to offer a more compelling alternative, and right now, we're not really doing that.”
I spoke to Barnard just after he landed in Milwaukee on Tuesday about the "electoral ticking time bomb" Republicans face, what questions he wants candidates to speak to at the debate, and the group's hopes for sponsoring the afterparty. Our conversation has been lightly edited for concision and clarity.
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What has the American Conservation Coalition been up to in 2023 so far?
The 118th Congress marks the first time in quite a while that we've had Republicans in charge of the House of Representatives. We've looked at that as an opportunity for Republicans to take a seat at the table when it comes to pushing for policy that can help tackle climate change, strengthen energy security, and reduce emissions. And so we've done a lot of engagement on Capitol Hill on things like permitting reform, nuclear energy, the farm bill, nature-based solutions, critical minerals.
We feel like we're in a really interesting moment right now, where, from our perspective, all of the top solutions to climate and energy problems are things that conservatives can not only get behind, but can actually lead on.
When you say the top solutions are things that Republicans can lead on, are you seeing that leadership in this Congress?
Yeah. Especially on the policy side of things, we saw how much McCarthy and Congressman Graves and Chairman Westerman have been pushing for permitting reform. We obviously got a taste of that in the debt ceiling negotiation. We would like to see much more and that's something that Republicans are still pushing for, which I think is the number one thing right now we can do to tackle climate change.
There is still a little bit of a disconnect between that and their rhetoric on the issue. When it comes to nuclear or critical minerals or permitting reform, there's really a huge opportunity for Republicans to retake the climate and environmental conversation and say, Look, these are conservative, limited-government, small market-based solutions, that would actually really help climate change more than say, the Green New Deal. And they're not really putting it that way. So while I've been pleased with some of the policy progress, we want to see Republicans be bolder and more ambitious and really start saying the things that are going to win them back the youth vote that they've lost.
What kinds of questions do you hope to see the presidential candidates asked about climate change tomorrow?
If I were to ask them a question, I would ask, what do you tell a young conservative, who loves America, who is also concerned about environmental and climate issues? What is your positive vision of the future to tackle this problem?
I think there's a tendency for questions around climate change to be loaded with words that are quite partisan. For example, the term climate crisis is incredibly unpopular with Americans in general and obviously Republicans don't respond very well to that. But asking about things like how do you tackle pollution? How do you make sure that we have a thriving planet for future generations? How do you ensure clean energy, all-of-the-above energy? Those are all things that Republicans are actually very on board with.
Also, what their plan is for American strength on the international stage. Battery technologies, EVs, wind and solar, critical minerals, all these crucial components of the clean energy future are being taken over by China because they see what's going to happen. They want to be the Saudi Arabia of clean energy, and we cannot allow that to happen. So any Republican answer on foreign policy should include, what are we going to do to be the most innovative country in the world? To have secure supply chains? To work with our allies? I think those are interconnected with other issues that Americans and Republicans care about, which is national security, energy security, etc.
What other climate-related messages or policies does the ACC want to hear the candidates talk about?
ACC has a platform called the Climate Commitment with six big ideas to tackle climate change rooted in limited government, market-based, conservative ideals. Some of those that I think would make perfect sense for a Republican candidate to bring up would be the importance of unleashing all American energy. So it's not just fossil fuels, but it’s unleashing nuclear energy, unleashing wind and solar, getting the government-imposed barriers out of the way of these energy sources and allowing them all to thrive and compete in the marketplace.
I think another one is how America's rural communities, farmers, ranchers, hunters, can be part of tackling climate change and protecting the environment. Those are super conservative, red parts of the country that actually have a huge role to play, whether it's farmers implementing sustainable practices on their land that reduces emissions, or rural communities hosting clean energy sites. There's so much that rural communities can do to be part of the solution.
What does it mean for ACC to be sponsoring the afterparty for the debate? What are you hoping to get out of it?
It’s to show that Republicans take this issue seriously now. They understand that they have a huge electoral ticking time bomb if they don't talk about it. We've seen already in the last few months how some of the impacts of climate change, whether it's heat waves, or whatever else it might be— people are realizing the importance of this.
ACC hosting this shows that it's entirely possible to be both an environmentalist and a conservative. They are, in many ways, two sides of the same coin. That's really the message that we want to bring to this, and to push Republicans, especially those standing up on the stage, to come up with a compelling vision of how they're going to tackle this issue that young conservatives can get excited about.
What did you mean when you said they have an electoral ticking time bomb?
If you look at demographic numbers, by 2028, millennials and Gen Z will be a majority of potential voters. By next decade, they will be over 60% of potential voters. Polling routinely shows that climate and environment are the top three, top five issues for them.
And young people are increasingly swinging elections. We saw in the midterms that in all the key Senate races that Republicans lost, young people showed out in historic numbers and overwhelmingly voted for Democrats. If Republicans don't regain the trust of young people on this issue, they face losing an entire generation of voters that are increasingly prioritizing this.
At this after-party, if you're coming face to face with the candidates, and you're trying to convince them why they should make climate change a bigger part of their campaign, what’s your argument? When right now, the majority of the Republican Party does not see it as a priority?
We know that this is an issue that matters enormously in general elections, whether it's trying to peel off independent voters, whether it's suburban moms, whether it's young voters. In some districts, it's just a few thousand votes that can make the difference. So I would tell them you need to, at the very least, have a bit of a platform to go off if you were to get to a general. I think DeSantis is really well-positioned for this, because he can point to his strong conservation track record in Florida in his time as governor — a lot of work on clean air, clean water, healthy communities. Base voters won't be upset about that, but that also allows him a jumping off point for a general election.
There's plenty of examples around the country of red states where governors have embraced things like EVs or wind and solar because they're creating jobs in their state. Wind and solar are much more popular with Republicans than people might think. And so I think there's ways that you can talk about this issue that don't evoke a negative reaction.
Which candidates are you most looking forward to hearing from tomorrow night?
I'm interested in seeing what DeSantis has to say after his campaign faltering, and seeing if he can stage a comeback and what that might look like. And in the past, ACC has been impressed by things that Tim Scott has said and done. I'll be interested to see what his “happy warrior” approach will look like in the debate. We did a video with Nikki Haley about what the conservative alternative to the green New Deal looks like, and so I’m interested to see what she's going to bring to the table.
What does it say to you that Donald Trump has decided not to participate in the debate tomorrow?
I was honestly very disappointed by it. Because my general sense is that if you want to have the American people vote for you, you should be willing to stand on stage and make that case why they should vote for you.
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Tax credit transferability is a wonky concept, but it’s been a superpower for clean energy developers.
One of the most powerful innovations in the Inflation Reduction Act was a new vehicle to finance clean energy projects. In addition to expanding the nation’s tax credits for climate-friendly projects, Congress gave developers freedom to sell these credits for cash. If a battery factory couldn’t take full advantage of the tax credits itself, it could transfer them to someone else who could.
Now, Republicans on the House Ways and Means Committee have proposed getting rid of this “transferability” provision as part of a larger overhaul of the tax credits. A draft bill published on Monday would end the practice starting in 2028.
Nixing transferability isn’t the bill’s most damaging blow to clean energy — new sourcing requirements for the tax credits and deadlines that block early-stage projects pose a bigger threat. But the ripple effects from the change would permeate all aspects of the clean energy economy. At a minimum, it would make energy more expensive by making the tax credits harder to monetize. It would also all but shut nuclear plants out of the subsidies altogether.
Prior to the passage of the Inflation Reduction Act, if renewable energy developers with low tax liability wanted to monetize existing tax credits, they had to seek partnerships with tax equity investors. The investor, usually a major bank, would provide upfront capital for a project in exchange for partial ownership and a claim to its tax benefits. These were complicated deals that involved extensive legal review and the formation of new limited liability corporations, and therefore weren’t a viable option for smaller projects like community solar farms.
When the 2022 climate law introduced transferability across all the clean energy tax credits, it simplified project finance and channeled new capital into the clean energy economy. Suddenly, developers for all kinds of clean energy projects could simply sell their tax credits for cash on the open market to anyone that wanted to buy them, without ceding any ownership. The tax credit marketplace Crux estimated that a total of $30 billion in transfers took place last year, only about 30% of which were traditional tax equity deals. In the past, tax equity transfers have topped out at around $20 billion per year.
Schneider Electric, which has long helped corporate clients make power purchase agreements, now facilitates tax credit transfers, as well. The company recently announced that it had closed 18 deals worth $1.7 billion in tax credit transfers since late 2023. The buyers were all new to the market — none had directly financed clean energy before the IRA, Erin Decker, the senior director of renewable energy and carbon advisory services, told me.
It turns out, buying clean energy tax credits is a win-win for brands with sustainability commitments, which can reduce their tax liability while also helping to reduce emissions. Some companies have even used the savings they got through the tax credits to fund decarbonization efforts within their own operations, Decker said.
By simplifying project finance, and creating more competition for tax credit sales, transferability also made developing renewable energy projects cheaper. Developers of wind and solar farms have been able to secure upwards of 95 cents on the dollar for transferred tax credits, compared to just 85 to 90 cents for tax equity transactions. The savings go directly to utility customers.
“State regulators require electric companies to pass the benefits of tax credits through to customers in the form of lower rates,” the Edison Electric Institute wrote in a policy brief on the provision. “If transferability were repealed, electric companies once again would rely on big banks to invest in tax equity transactions, ultimately reducing the value of the credit that flows directly through to customers.”
Many of the companies that can’t count on tax equity deals will still have other options under the GOP proposal. Tax-exempt entities, like rural electric cooperatives and community solar nonprofits, can use “elective pay,” another IRA innovation that allows them to claim the credits as a direct cash payment from the IRS. For-profit companies developing carbon capture and advanced manufacturing projects also have the option to use elective pay for the first five years they operate. All of this raises questions about whether axing transferability would furnish the government with meaningful savings to offset Trump’s tax cuts.
But the bigger danger for Trump would be his nuclear agenda. Prior to the IRA, low power prices meant that many nuclear operators couldn’t afford to extend the licenses on their existing plants, even ones that had many years of useful life left in them. The IRA created a new tax credit for existing nuclear plants that made it economical for operators to invest in keeping these online, and even helped bring some, like the Palisades plant in Michigan, back from the dead.
This wouldn’t have worked without transferability, Benton Arnett, the senior director of markets and policy at the Nuclear Energy Institute, told me. Going forward, finding a tax equity partner would be nearly impossible because of the unique rules governing nuclear plants. Federal regulations require that the owners of a nuclear power plant be listed on its license, so bringing on a new owner means doing a license amendment — a headache-inducing process that banks simply don’t want to take on. “We’ve had members reach out to tax equity groups in the past and there was very little interest,” Arnett said
While a few plant owners might have enough tax appetite to benefit from credits directly, most have depreciating assets on their books that greatly reduce their liability. “Without transferability, for many of our members, it’s very difficult for them to actually monetize those credits,” said Arnett. “In a way, nuclear is disproportionately impacted by removing that ability to transfer.”
In February, Secretary of Energy Chris Wright declared that “the long-awaited American nuclear renaissance must launch during President Trump’s administration.” But so far on Trump’s watch, between the proposed loss of transferability and early phase-out of nuclear tax credits, plus cuts to loan programs at the Department of Energy, we’ve only seen policies that would kill the nuclear renaissance.
On Trump’s Gulf trip, budget negotiations, and a uranium mine
Current conditions: Highs in Dallas, San Antonio, and Austin could break 100 degrees Fahrenheit on Wednesday afternoon, with ERCOT anticipating demand could approach August 2023’s all-time high of 85,500 megawatts • Governor Tim Walz has called in the National Guard to respond to three fires in northern Minnesota that have burned 20,000 acres and are still 0% contained• The coldest place in the world right now is the South Pole of Antarctica, which could drop to -70 degrees tomorrow.
Win McNamee/Getty Images
The White House on Tuesday announced a $600 billion investment commitment from Saudi Arabia during President Trump’s trip to the Gulf. In exchange, the U.S. offered Riyadh “the largest defense cooperation agreement” Washington has ever made, with an arms package worth nearly $142 billion, Reuters reports. The deals announced so far by the White House total just $283 billion, although the administration told The New York Times that more would be forthcoming.
Among the known commitments in the health and tech sectors, the U.S. also reached a number of energy deals with Saudi Arabia’s state-owned oil company, Aramco, which agreed to a $3.4 billion expansion of the Motive refinery in Texas “to integrate chemicals production,” OilPrice.com reports. Aramco additionally signed “a memorandum of understanding with [the U.S. utility] Sempra to receive about 6.2 million tons per year of LNG.” (Aramco is responsible for over 4% of the planet’s CO2 emissions, according to the think tank InfluenceMap, and would be the fourth largest polluter after China, the U.S., and India, if it were its own country.) Additionally, Saudi company DataVolt committed to invest $20 billion in AI data centers and energy infrastructure in the U.S.
Senate Republicans are reportedly putting the brakes on the House Ways and Means Committee’s proposal to overhaul the nation’s clean energy tax credits and effectively kill the Inflation Reduction Act. “[S]ome Senate Republicans say abruptly cutting off credits and changing key provisions that help fund projects more quickly could stifle investments in energy technologies needed to meet growing power demand, and lead to job losses for manufacturing and electricity projects in their states and districts,” Politico reports. North Dakota’s Republican Senator John Hoeven, for one, characterized the Ways and Means’ plan as a “starting point,” with “some change” expected before agreement is reached.
As my colleague Emily Pontecorvo reported earlier this week, the House proposal “appears to amount to a back-door full repeal” of the IRA, including cutting the EV tax credit, moving up the phase-out of tech-neutral clean power, and eliminating credits for energy efficiency, heat pumps, and solar. But as she noted then, “there’s a lot that could change before we get to a final budget” — especially if Republican senators follow through on their words.
The Interior Department plans to expedite permitting for a uranium mine in Utah, conducting an environmental assessment that typically takes a year in just 14 days, The New York Times reports. Interior Secretary Doug Burgum said the fast-track addressed the “alarming energy emergency because of the prior administration’s Climate Extremist policies.” Notably, Burgum also recently issued a stop-work order on Equinor’s fully permitted Empire Wind offshore wind project, claiming the project’s permitting process had been rushed under former President Joe Biden. That process took nearly four years, according to BloomberNEF.
Critics of the Velvet-Wood project in San Juan County, Utah, said the Interior Department is leaving no opportunity for public comment, and that there are concerns about radioactive waste from the mining activities. Uranium is a fuel in nuclear power plants, and its extraction falls under President Trump’s recent executive order to address the so-called “national energy emergency.”
Clean energy investment saw a second quarterly decline at the start of 2025, but nevertheless accounted for 4.7% of total private investment in structures, equipment, and durable consumer goods in the first quarter of the year, a new report by the Rhodium Group’s Clean Investment Monitor found. Among some of its other notable findings:
You can read the full report here.
A Dutch environmental group is suing oil giant Shell, arguing that the company is in violation of a court order to make an “appropriate contribution” to the goals of the Paris Climate Agreement, France 24 reports. Amsterdam-based Milieudefensie previously won an historic precedent against Royal Dutch Shell in 2021, with the court ruling the company had to cut its carbon emissions by 45% of 2019 levels by 2030 because its investments in oil and gas were “endangering human rights and lives.” Shell appealed the decision, moved its headquarters to London, and dropped “Royal Dutch” from its name; subsequently, a Dutch appeals court sided with Shell and reversed the 45% emissions reduction target, while still insisting the company had a responsibility to lower its emissions, Inside Climate News reports.
Now, Milieudefensie is suing, claiming Shell is in breach of its obligation to reduce emissions due to its “continued investment in new oil and gas fields and its inadequate climate policy for the period 2030 to 2050.” Sjoukje van Oosterhout, a lead researcher on the Shell case for Milieudefensie, said in a press conference, “The impact of this case could really be enormous. Science is clear, crystal clear, and the ruling of the appeals court was also clear. Every new field is one too many. That’s why we have this case today.”
AstraZeneca
UK regulators this week approved the use of AstraZeneca’s new medical inhaler, which uses a propellant with 99.9% lower global warming potential than those currently in use. The U.S. Environmental Protection Agency has estimated that the discharge and leakage of planet-warming hydrofluoroalkane propellants from inhalers was responsible for 2.5 million metric tons of CO2 equivalents in 2020, or about the same emissions as 550,000 passenger vehicles driven for one year.
Tuesday’s encouraging inflation data concealed an ominous warning sign.
The Trump administration’s policy of increased natural gas exports abroad, plus increased industrial and artificial intelligence investment at home, plus cuts to green energy tax credits could add up to more energy price volatility for Americans.
On Monday, the House Ways and Means Committee unveiled its plan for deep cuts to the Inflation Reduction Act, including early expiration dates and restrictions on the core clean energy tax credits that would effectively gut America’s signature climate law.
But Tuesday’s good news about inflation also contained a troubling omen for electricity prices.
Overall, prices are rising at their slowest rate in years. The Bureau of Labor Statistics reported that overall prices have risen 2.3% in the past year, the slowest annual increase since February 2021. But electricity prices were up 0.8% just in the past month, and were up 3.6% over last year.
This is likely due in part to rising natural gas prices, as natural gas provides the better part of American electricity generation.
The benchmark Henry Hub spot price for natural gas was $3.26 per million British thermal unit last week,according to the latest Energy Information Administration data — around twice the price of a year ago. And there’s reason to think prices for both gas and electricity will continue to rise, or at least be vulnerable to spikes, explained Skanda Amarnath, the executive director of Employ America.
European demand for liquified natural gas has been high recently, which helps pull the American natural gas price closer to a global price, as Europe is a major buyer of U.S. LNG.
During the early years of the shale boom in the 2010s, before the United States had built much natural gas export capacity (the first LNG shipment from the continental United States left Louisiana in early 2016, believe it or not), American natural gas consumers benefited from “true natural gas abundance,” Amarnath told me. “We had this abundance of natural gas and no way for it to get out.”
Those days are now over. The Trump administration has been promoting LNG exports from day one to a gas-hungry global economy. “We’re not the only country that wants natural gas, and LNG always pays a premium,” Amarnath said.
In March, Western European gas imports hit their highest level since 2017, according to Bloomberg. And there’s reason to expect LNG exports will continue at that pace, or even pick up. One of the Trump administration’s first energy policy actions was to reverse the Biden-era pause on permitting new LNG terminals, and Secretary of Energy Chris Wright has issued a number of approvals and permits for new LNG export terminals since.
The EIA last week bumped up its forecast for natural gas prices for this year and next, citing both higher domestic natural gas demand and higher exports than initially expected. And those are in addition to all the structural factors in the United States pulling on electricity demand — and therefore natural gas demand — including the rise in data center development and the boom in new manufacturing.
But we’re in the era of “drill, baby, drill,” right? So all that new demand will be met with more supply? Not so fast.
Increased production of oil overseas — pushed for by Trump — is playing havoc with the economics of America’s oil and gas companies, which are starting tolevel off or even decrease production. The threat of an economic slowdown induced by Trump’s tariffs also influenced some of those decisions, though that fear may have eased with the U.S.-China trade deal announced on Monday.
While it’s the price of oil that largely determines investment decisions for these companies, a consequence can be fluctuations in natural gas production. That’s because much of America’s natural gas comes out of oil wells, so when oil wells go unexploited, natural gas stays in the ground, too.
“A drop in crude oil prices over the past three months has reduced our expectations for U.S. crude oil production growth, and we now expect less associated natural gas production than we did in January,” the EIA wrote last week.
“Together, these factors mean we expect natural gas prices will be higher in order to incentivize production and keep markets balanced.”
At the same time, Republicans in Congress and the Trump administration look to choke off policy support for a boom in renewables investment with their planned dismantling of the Inflation Reduction Act. This means a less diversified grid that will be more reliant on natural gas, Amarnath explained.
When natural gas prices spike, “it’s very useful to have non-gas sources of supply,” Amarnath told me. The alternative fuel can be anything as long as it’s not fossil. It can be solar, it can be wind, it can be nuclear — all three of which would be hammered by the IRA cuts.
What these sources of power do — besides reduce greenhouse gas emissions — is diversify the grid, so that America’s electricity consumers are “not held hostage to what Asian or European LNG buyers want to pay,” Amarnath said.
“The less you rely on a fuel source for electricity, the more stable you are from a price spike. And we’re more at risk now.”