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Sparks

Elon Musk Had a Pretty Great Night

According to Trump, “a star is born.”

Katie Brigham •
11/06/2024
Elon Musk.
Heatmap Illustration/Getty Images

As the election odds swung sharply towards Republican Donald Trump as Tuesday evening slid into Wednesday morning, climate-conscious investors, academics, strategists, and other internet personalities were mostly mute. It was a night to stare blankly at the TV, watch the needle slowly tilt to the right, and vaguely wonder about the future of the climate.

That is, unless you were Elon Musk, Trump’s latest, closest campaign confidant, in which case fist-pumping posts abounded. Well before any polls had closed, Musk posted on X about supposedly “record numbers” of men turning out to vote for Trump. While we can’t confirm that’s true, it set a vibe for the evening to come.

For Musk, no display of patriotism is complete without a plug for one of his companies. Exhibit A:

Exhibit B:

He spent the rest of the day casting doubt on election security in Pennsylvania and imploring his followers to vote because no less than “the future of the world” was at stake.

Of course, that’s similar to the rhetoric those in climate world use to describe the prospect of a second Trump presidency. As the final polls were closing, University of California, Santa Barbara climate historian Leah Stokes no doubt summed up the feelings of many when she tweeted,

But there was also room for humor. As the electoral map filled in, The Atlantic CEO Nicholas Thompson had some theories on what caused the pro-MAGA, pro-Mars Tesla CEO to lean so hard into Trump’s campaign.

Duncan Campbell, the vice president of Scale Microgrid Solutions and host of the energy podcast DER Task Force, entered the chat with an even more niche joke.

But no one could beat Musk for sheer weirdness. With results beginning to stack up, he shared a tribute to the “Dark MAGA” facet of the Trump coalition set to that Europe classic, “The Final Countdown.”

And as the night’s endgame began to come into focus, he shared a snap from Trump’s watch party at Mar-a-Lago.

Around 2:30 a.m. ET, Trump took the stage at the convention in West Palm Beach where his supporters had gathered and declared victory in the race. By then some, though certainly not all networks had called the election in Trump’s favor. He devoted a verse of his rambling, genial speech to Musk. “A star is born: Elon,” Trump said in his victory speech, praising Musk’s efforts on the campaign trail, his “beautiful” rockets, and Starlink, which Trump apparently hadn’t heard of before Hurricane Helene.

Musk, for his part, seems psyched about the prospect of playing a role in the Trump administration. “The future is gonna be fantastic,” he said, as the electoral votes crept closer to 270. Though climate tech investor Kristin Ellis of Lowercarbon Capital did have one extra bit of perspective to add:

Katie Brigham profile image

Katie Brigham

Katie is a staff writer for Heatmap covering climate tech. Based out of Seattle, she formerly worked as a reporter and producer for CNBC.com.

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Sparks

The Country’s Largest Power Markets Are Getting More Gas

Three companies are joining forces to add at least a gigawatt of new generation by 2029. The question is whether they can actually do it.

Matthew Zeitlin •
02/26/2025
Natural gas pipelines.
Heatmap Illustration/Getty Images

Two of the biggest electricity markets in the country — the 13-state PJM Interconnection, which spans the Mid-Atlantic and the Midwest, and ERCOT, which covers nearly all of Texas — want more natural gas. Both are projecting immense increases in electricity demand thanks to data centers and electrification. And both have had bouts of market weirdness and dysfunction, with ERCOT experiencing spiky prices and even blackouts during extreme weather and PJM making enormous payouts largely to gas and coal operators to lock in their “capacity,” i.e. their ability to provide power when most needed.

Now a trio of companies, including the independent power producer NRG, the turbine manufacturer GE Vernova, and a subsidiary of the construction firm Kiewit Corporation, are teaming up with a plan to bring gas-powered plants to PJM and ERCOT, the companies announced today.

The three companies said that the new joint venture “will work to advance four projects totaling over 5 gigawatts” of natural gas combined cycle plants to the two power markets, with over a gigawatt coming by 2029. The companies said that they could eventually build 10 to 15 gigawatts “and expand to other areas across the U.S.”

So far, PJM and Texas’ call for new gas has been more widely heard than answered. The power producer Calpine said last year that it would look into developing more gas in PJM, but actual investment announcements have been scarce, although at least one gas plant scheduled to close has said it would stay open.

So far, across the country, planned new additions to the grid are still overwhelmingly solar and battery storage, according to the Energy Information Administration, whose data shows some 63 gigawatts of planned capacity scheduled to be added this year, with more than half being solar and over 80% being storage.

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Sparks

An Emergency Trump-Coded Appeal to Save the Hydrogen Tax Credit

Featuring China, fossil fuels, and data centers.

Emily Pontecorvo •
02/18/2025
The Capitol.
Heatmap Illustration/Getty Images

As Republicans in Congress go hunting for ways to slash spending to carry out President Trump’s agenda, more than 100 energy businesses, trade groups, and advocacy organizations sent a letter to key House and Senate leaders on Tuesday requesting that one particular line item be spared: the hydrogen tax credit.

The tax credit “will serve as a catalyst to propel the United States to global energy dominance,” the letter argues, “while advancing American competitiveness in energy technologies that our adversaries are actively pursuing.” The Fuel Cell and Hydrogen Energy Association organized the letter, which features signatures from the American Petroleum Institute, the U.S. Chamber of Commerce, the Clean Energy Buyers Association, and numerous hydrogen, industrial gas, and chemical companies, among many others. Three out of the seven regional clean hydrogen hubs — the Mid-Atlantic, Heartland, and Pacific Northwest hubs — are also listed.

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Sparks

Why Your Car Insurance Bill Is Making Renewables More Expensive

Core inflation is up, meaning that interest rates are unlikely to go down anytime soon.

Matthew Zeitlin •
02/12/2025
Wind turbines being built.
Heatmap Illustration/Getty Images

The Fed on Wednesday issued a report showing substantial increases in the price of eggs, used cars, and auto insurance — data that could spell bad news for the renewables economy.

Though some of those factors had already been widely reported on, the overall rise in prices exceeded analysts’ expectations. With overall inflation still elevated — reaching an annual rate of 3%, while “core” inflation, stripping out food and energy, rose to 3.3%, after an unexpectedly sharp 0.4% jump in January alone — any prospect of substantial interest rate cuts from the Federal Reserve has dwindled even further.

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