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Chicago Tribune
3 days ago
- Business
- Chicago Tribune
Letters: The future of Illinois and our nation is carbon-free energy
Edward Cross ('Global demand for energy is rising. There's no better place to produce it than America,' June 10) is absolutely correct that global energy demand is rising. In Illinois alone, data centers could increase annual electricity requirements by 30% by 2040. I agree that oil and gas will be necessary for the near future, and producing them here in the U.S. is the best option for our energy independence and national security. It's unfortunate Cross' fossil fuel argument doesn't touch on Illinois, where we rank fifth in the nation for installed wind capacity. Illinois produces over half of our electricity from no-carbon sources, primarily nuclear and wind. and investment in battery storage and grid improvements can help integrate existing and future sources more effectively. Just like oil and gas, these industries provide good jobs to Illinoisans. While it's true the oil and gas industry has made great strides in reducing its carbon emissions from production, don't let those numbers mask the fact that those fossil fuels still produce the same amount of carbon when they're burned. On top of that, fossil fuels alone cannot keep up with increasing energy demands, especially now that natural gas turbines are facing years of delivery backlogs. Restricting renewable energy will only increase the demand on oil and natural gas, raising their prices. These factors would combine for a nasty increase in energy prices. Allowing no-carbon energy sources to flourish lowers everyone's electric bill. The future is here, and it's no-carbon energy. Solar and batteries accounted for 80% of new U.S. electricity generation capacity in 2024. Illinois clearly has options beyond fossil fuels to address our energy needs. Strengthening nuclear reliability, expanding renewables and improving grid efficiency can reduce dependence on oil and gas while keeping the lights Republicans are scrambling to find $800 billion to help fund the extension of President Donald Trump's $3 trillion tax cuts — overwhelmingly benefiting the wealthiest Americans. Their plan? Slash Medicare and Medicaid, moves that could strip 12 million or more people of health insurance and force rural hospitals to close. There's a better solution: Eliminate the 45Q tax credit for carbon capture, a bloated, ineffective giveaway to the fossil fuel industry. According to the nonpartisan Institute for Energy Economics and Financial Analysis, 45Q will cost U.S. taxpayers $835 billion by 2042. If the industry's demands for higher credit rates and longer durations are met, that number could balloon to $3.8 trillion. Ask yourself: Would you rather your legislators vote to preserve Medicare and Medicaid, or hand billions more to fossil fuel corporations that are already raking in record profits? For decades, fossil fuel companies have enjoyed trillions in government subsidies — from tax breaks to unpriced environmental and health damages. These companies, among the most profitable in history, are also the leading contributors to climate change and deadly air pollution. Carbon capture sounds promising on paper, but 45Q won't meaningfully reduce climate change. Most captured carbon dioxide is used for enhanced oil recovery — prolonging fossil fuel extraction. Meanwhile, the environmental damage and emissions continue. Climate-linked disasters are rising, and air pollution already kills millions annually worldwide. Instead of throwing more public money at fossil fuel giants under the guise of climate action, Congress should invest in clean energy, resilient infrastructure and public transportation. Readers can tell their senators and representatives: No health care cuts. No 45Q subsidies. No support for any budget deal that sacrifices essential services to fund giveaways for fossil fuel polluters and billionaires. Let them know where you stand — before it's too a Lyft driver navigating Chicago's streets through all conditions, I've witnessed how ride-share services have transformed transportation in our city. With the proposed city ordinance now pulled and discussions moving to the state level, we have a real opportunity to get this right. I understand drivers' urgency about earning fair pay and having better protections. We work hard, often putting in long hours to serve our communities. The shift to state-level discussions opens the door for collaborative solutions that deliver results. Unlike city ordinances that may create conflicting regional regulations, statewide standards provide consistency and sustainability that both drivers and platforms need. Minnesota's experience proves this works. When Minneapolis passed a local ordinance with very high minimum pay rates, ride-share companies Uber and Lyft threatened to cease operations, warning that dramatically higher prices would price out riders and leave drivers with fewer opportunities. Instead, Minnesota lawmakers brokered an enduring statewide solution through extensive negotiations involving all stakeholders, improving driver compensation while keeping services accessible. Minnesota succeeded because stakeholders understood how this industry really works. They recognized that ride-share driving is fundamentally different from traditional employment — drivers value flexibility, work across multiple platforms and often drive part time around other commitments. Minnesota's solution reflected these realities rather than forcing ride-share into an outdated regulatory framework. Illinois needs this nuanced approach. Effective protections might include portable benefits across platforms, transparent earnings information and sustainable earnings standards that provide certainty without reducing valued flexibility. Companies are showing readiness to engage seriously. Lyft already demonstrates commitment through concrete actions such as guaranteeing drivers make at least 70% of weekly rider fares after external fees. As a driver, I want continued independence, better pay, clearer protections and earnings transparency. But solutions work best when developed with input from drivers who live this reality, companies understanding operational constraints, labor advocates fighting for rights and policymakers creating sustainable frameworks. The neighborhoods relying most on ride-share — historically, underserved areas — deserve policies that enhance rather than threaten reliable mobility access. I regularly drive Chicagoans depending on ride-share for essential trips where public transit is limited. Illinois lawmakers can follow Minnesota's example, bringing stakeholders together for genuine collaboration. Let's work on solutions reflecting how ride-share actually works while providing real driver benefits and maintaining affordable, accessible transportation for all Illinois Vallas' regular op-eds in the Tribune have displayed the ongoing political evolution of a man whose career began in 'lakefront liberal' circles. Like Ed Koch, the 1980s New York mayor who began his political career as an anti-machine liberal, Vallas evolved to the point that his race for mayor was supported by the city's most conservative elements. But Vallas' most recent op-ed ('We must not allow a repeat of 2020 George Floyd protests in Chicago,' June 11) on how Chicago should respond to possible protests against the Donald Trump administration's war against immigrants might point to one further evolution on his part. Vallas never mentions Trump, nor does he offer even a pro forma criticism of the gleefully thuggish approach Immigration and Customs Enforcement is taking. Maybe Vallas is ready to evolve again, from conservative Democrat to Trump you to Philip Milord of Western Springs ('Required reading') and Jon Boyd ('Waste a way of life') of Chicago for their very insightful and intelligent letters on June 13. I could not have said it any better! I moved to Illinois from the East Coast, and it has been mind-boggling how this state has such a disregard for simple economics. Our grandchildren will carry this burden — if they stay in Illinois — but that actually would not be necessary if the governor and the mayor of Chicago would simply use the rule of 'we can't spend what we don't have.'
Time of India
5 days ago
- Business
- Time of India
Can emerging markets balance climate goals and jobs? IEEFA says it's time for co-investment push
New Delhi: What happens to coal workers when the last mine shuts down? How will small rural livelihoods survive the shift to clean energy? A new report by the Institute for Energy Economics and Financial Analysis ( IEEFA ) warns that as emerging economies transition away from fossil fuels, millions of workers and communities face the risk of being left behind—unless targeted co-financing models and just transition strategies are adopted. According to the report, ensuring vulnerable workers and communities are not excluded during the energy transition is one of the biggest challenges for emerging markets and developing economies (EMDEs). At the same time, the shift opens up new job opportunities and avenues for economic growth if planned with social equity in mind. 'Combining climate action with social equity can facilitate the energy transition in emerging markets and developing economies (EMDEs) without disrupting sectors that rely solely on fossil fuels,' said Shantanu Srivastava, IEEFA's research lead, sustainable finance and climate risk. 'A Just Transition aims to manage this change fairly by protecting affected workers and communities, creating opportunities for economic growth and ensuring the benefits of the transition are shared widely,' Srivastava said. While fossil fuel industries face the risk of stranded assets, large companies often have the resources and access to capital to adapt. The report noted that the greater risk for governments lies in the potential economic disruption to entire communities dependent on fossil operations. The report proposes a 'co-investment' approach to support asset closures and community resilience. This includes combining investments in renewable energy with Just Transition activities such as labour reskilling, social support, and micro-enterprise development. These programmes often require concessional or grant-based finance. 'Just Transition activities encompass a mix of hard energy transition assets, such as renewable energy, climate smart agriculture, and climate-resilient infrastructure, and 'softer' Just Transition aspects like responsible coal asset closures, stakeholder capacity building, labour reskilling, support for micro, small and medium enterprises (MSMEs), and community resilience,' said Soni Tiwari, energy finance analyst at IEEFA. The report draws on case studies from India, the Philippines, Ethiopia and South Africa to illustrate how targeted planning and coordinated intervention can enable a socially inclusive energy transition. In the Philippines, the Accelerating Coal Transition (ACT) investment plan demonstrates how securing early-stage grant commitments for Just Transition support helped mobilise concessional and commercial capital for fossil fuel asset closure and repurposing. South Africa's Just Energy Transition Investment Plan (JET-IP) highlights the importance of institutional coordination, governance frameworks, and dedicated platforms that link funders with project developers. In India, a targeted programme for MSMEs enabled coordination among domestic, multilateral, and philanthropic investors to drive clean energy adoption. Another programme, Zero-Budget Natural Farming (ZBNF), focused on capacity-building to create self-sustaining, low-carbon agricultural models for vulnerable communities. In Ethiopia, a rural water programme financed by the United Nations Green Climate Fund (GCF) demonstrated the role of grant-based funding in fragile contexts and the importance of empowering local institutions. 'With fiscal pressures mounting and fossil fuel revenues expected to decline, EMDE governments should look beyond their own budgets to a diverse set of capital providers, including multilateral development agencies, private investors, development banks and philanthropies,' Tiwari said. 'The financing challenge is not only about scale, but also about targeting suitable forms of capital for the right activities based on their risk-return profiles and developmental impact,' Srivastava added. The report concludes that by strengthening monitoring systems, aligning national schemes and fostering partnerships, EMDEs can mobilise funding more effectively and advance a just and inclusive transition to clean energy.
Economic Times
7 days ago
- Business
- Economic Times
Cost of green hydrogen in India set to fall by up to 40%: Report
India's green hydrogen costs are projected to decrease by up to 40% due to government support and incentives, potentially reaching Rs 260-310 per kg. The nation's Green Hydrogen Mission, launched in January 2023 with a Rs 19,744 crore outlay, aims for 5 million tonnes of annual production by 2030. Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads The cost of green hydrogen in India , the country that is aiming big in the renewable energy space, is expected to fall by up to 40 per cent with the support and incentives the government is providing, according to a report by the Institute for Energy Economics and Financial levelised cost of green hydrogen in India is seen falling towards Rs 260-310 per kg (USD 3-3.75 per kg).India provides cheap renewable electricity to hydrogen manufacturers, waives Inter-State Transmission Charges for open access, lowers distribution and transmission charges, and lowers the GST rate for hydrogen to 5 per the report asserts electrolyser manufacturers are projected to achieve a 7-10 per cent reduction in total system costs for the first five years, starting in 2024--Rs 2,960/kW (USD 36/kW) being the average annual realisable base incentive."While the green hydrogen scheme is an important step for India, refinements are needed to promote long-term investment and project viability," says the report asserted that India's green hydrogen mission has been enthusiastically received by industry. It added, however, that the scheme needs fine-tuning to attract startups, be competitive for global players and create a supply chain and secure demand to ensure the industry's long-term viability."If successful, it could help build India's green hydrogen industry with benefits for a range of sectors including agriculture, transport and manufacturing," the Institute for Energy Economics and Financial Analysis report launched its National Green Hydrogen Mission in January 2023 with an overall outlay of Rs 19,744 crores. The country has set an ambitious target of achieving a green hydrogen production capacity of 5 million tonnes by the end of 2030. The programme consists of two distinct financial incentive mechanisms to support domestic electrolyser manufacturing and Green Hydrogen green hydrogen mission, which aims to establish 5 million tonnes of annual green hydrogen production capacity by 2030, represents a significant step towards realising India's ambitions in the hydrogen meets a sizable portion of its energy needs through fossil fuels, and various renewable energy sources, including green hydrogen, are seen as an avenue to reduce dependence on conventional sources of power. Green energy for climate mitigation is not just a focus area for India; it has gained momentum COP26 held in 2021, India committed to an ambitious five-part "Panchamrit" pledge. They included reaching 500 GW of non-fossil electricity capacity, generating half of all energy requirements from renewables, and reducing emissions by 1 billion tonnes by 2030. India as a whole also aims to reduce the emissions intensity of GDP by 45 per cent. Finally, India commits to net-zero emissions by 2070.
Time of India
11-06-2025
- Business
- Time of India
Cost of green hydrogen in India set to fall by up to 40%
The cost of green hydrogen in India , the country that is aiming big in the renewable energy space, is expected to fall by up to 40 per cent with the support and incentives the government is providing, according to a report by the Institute for Energy Economics and Financial Analysis. The levelised cost of green hydrogen in India is seen falling towards ₹260-310 per kg ($3-3.75 per kg). India provides cheap renewable electricity to hydrogen manufacturers, waives Inter-State Transmission Charges for open access, lowers distribution and transmission charges, and lowers the GST rate for hydrogen to 5 per cent. Besides, the report asserts electrolyser manufacturers are projected to achieve a 7-10 per cent reduction in total system costs for the first five years, starting in 2024--₹2,960/kW (USD 36/kW) being the average annual realisable base incentive. "While the green hydrogen scheme is an important step for India, refinements are needed to promote long-term investment and project viability," says the report. The report asserted that India's green hydrogen mission has been enthusiastically received by industry. It added, however, that the scheme needs fine-tuning to attract startups, be competitive for global players and create a supply chain and secure demand to ensure the industry's long-term viability. "If successful, it could help build India's green hydrogen industry with benefits for a range of sectors including agriculture, transport and manufacturing," the Institute for Energy Economics and Financial Analysis report added. India launched its National Green Hydrogen Mission in January 2023 with an overall outlay of ₹19,744 crores. The country has set an ambitious target of achieving a green hydrogen production capacity of 5 million tonnes by the end of 2030. The programme consists of two distinct financial incentive mechanisms to support domestic electrolyser manufacturing and Green Hydrogen production. The green hydrogen mission, which aims to establish 5 million tonnes of annual green hydrogen production capacity by 2030, represents a significant step towards realising India's ambitions in the hydrogen economy. India meets a sizable portion of its energy needs through fossil fuels, and various renewable energy sources, including green hydrogen, are seen as an avenue to reduce dependence on conventional sources of power. Green energy for climate mitigation is not just a focus area for India; it has gained momentum globally. At COP26 held in 2021, India committed to an ambitious five-part "Panchamrit" pledge. They included reaching 500 GW of non-fossil electricity capacity, generating half of all energy requirements from renewables, and reducing emissions by 1 billion tonnes by 2030. India as a whole also aims to reduce the emissions intensity of GDP by 45 per cent. Finally, India commits to net-zero emissions by 2070.
Time of India
11-06-2025
- Business
- Time of India
Cost of green hydrogen in India set to fall by up to 40%: Report
The cost of green hydrogen in India , the country that is aiming big in the renewable energy space, is expected to fall by up to 40 per cent with the support and incentives the government is providing, according to a report by the Institute for Energy Economics and Financial Analysis. The levelised cost of green hydrogen in India is seen falling towards ₹260-310 per kg ($3-3.75 per kg). India provides cheap renewable electricity to hydrogen manufacturers, waives Inter-State Transmission Charges for open access, lowers distribution and transmission charges, and lowers the GST rate for hydrogen to 5 per cent. Besides, the report asserts electrolyser manufacturers are projected to achieve a 7-10 per cent reduction in total system costs for the first five years, starting in 2024--₹2,960/kW (USD 36/kW) being the average annual realisable base incentive. "While the green hydrogen scheme is an important step for India, refinements are needed to promote long-term investment and project viability," says the report. The report asserted that India's green hydrogen mission has been enthusiastically received by industry. It added, however, that the scheme needs fine-tuning to attract startups, be competitive for global players and create a supply chain and secure demand to ensure the industry's long-term viability. "If successful, it could help build India's green hydrogen industry with benefits for a range of sectors including agriculture, transport and manufacturing," the Institute for Energy Economics and Financial Analysis report added. India launched its National Green Hydrogen Mission in January 2023 with an overall outlay of ₹19,744 crores. The country has set an ambitious target of achieving a green hydrogen production capacity of 5 million tonnes by the end of 2030. The programme consists of two distinct financial incentive mechanisms to support domestic electrolyser manufacturing and Green Hydrogen production. The green hydrogen mission, which aims to establish 5 million tonnes of annual green hydrogen production capacity by 2030, represents a significant step towards realising India's ambitions in the hydrogen economy. India meets a sizable portion of its energy needs through fossil fuels, and various renewable energy sources, including green hydrogen, are seen as an avenue to reduce dependence on conventional sources of power. Green energy for climate mitigation is not just a focus area for India; it has gained momentum globally. At COP26 held in 2021, India committed to an ambitious five-part "Panchamrit" pledge. They included reaching 500 GW of non-fossil electricity capacity, generating half of all energy requirements from renewables, and reducing emissions by 1 billion tonnes by 2030. India as a whole also aims to reduce the emissions intensity of GDP by 45 per cent. Finally, India commits to net-zero emissions by 2070.
