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Forbes
15 hours ago
- Business
- Forbes
How The Big Beautiful Bill Will Handicap Clean Energy
The Capitol Building, home of the United State Congress. Green Technologies At Risk In Current Mega Bill As it was written, the Big, Beautiful Bill (Mega Bill) passed by The House of Representatives in May would handicap certain green projects (solar, wind, and batteries) that are in line to receive tax credits made available by the Biden government. The handicap is hard to understand because in the U.S. over 90% of new energy projects in 2023 and 2024 was generated by solar, wind, and batteries. What is the handicap? The Mega Bill mandates that such projects must begin within two months of passage of the bill, and would have to be completed, and in service, by the last day of 2028, or the tax credits would be canceled. To see what impact this would have on green projects, one analysis looked at clean electrical projects that are currently in the interconnection queue, and due to go online during 2028 or later (it wouldn't be uncommon for projects slated to complete in 2028 to spill over to 2029, which would cancel the tax credits.) The total for all these at-risk projects in Figure 1 amounts to 600 GW (gigawatts). The largest three projects are CAISO of California at 183 GW, ERCOT of Texas at 128 GW, and MISO (Midwest and South) at 111 GW. Figure 1. The truth is, current electrical production in U.S. is 1200 GW, and this will need to grow rapidly to power new AI data centers. So, if all these seven green projects lost their tax credits and dropped out of the interconnection queue, it would represent a huge loss that is 50% of current electrical production in the U.S. This loss would be like tossing away 600 traditional power plants that added up to 50% of current U.S. electricity supply. Granted, a number of projects in Figure 1 would drop out of the queue anyway, due to other factors such as financial commitments that fall through. But still, a loss of remaining projects that would stand to boost current U.S. power by 30% or 40% or 50% would be an unforgiveable loss—especially since solar, wind and battery projects have all the market momentum in the past few years. Speaking of momentum, in 2023 and 2024 in the U.S., the vast majority (93%--94%) of new energy sources were solar, wind, and batteries. The only commercially proven competitor is gas-fired power plants, which are facing serious delays, and they cost more. What if projects that lost their tax credits were to go ahead to completion? They might, but it's obvious this would translate to higher cost of electricity for consumers. Mega Bill Changes Suggested By Senate. The House Mega Bill has gone to the Senate, and on Monday June 16 they have proposed some changes. UtilityDive reports that the harsh 'start by – complete by' House requirement to access the tax credits has been removed. In one box, nuclear, geothermal and hydropower can claim the tax credits so long as they start construction by 2033. But in another box, wind and solar can obtain only 60% of the tax credits and only if they break ground by 2026. Or 20% if by 2027. Or zero if after that. This is a serious handicap for the frontrunners, solar and wind, that have provided over 93% of new electrical capacity in 2023 and 2024. And it comes at a crucial time, because the U.S. needs to quickly boost its power capability by a massive amount to supply AI data centers. One positive: battery storage or BESS (battery energy storage systems) can access tax credits until 2036, although the credits will be tapered down, according to Canary Media. Also, some solar and wind projects would be able to keep the tax credits beyond the end of 2028—provided they exist on federal land, generate 1 GW or more power, and have obtained right-of-way approval from the BLM (Bureau of Land Management). The next steps are: the Senate as a whole has to pass these changes, and then attempt to reconcile with the House. The timeline is short as the goal is to get the final version of the Mega Bill to President Trump's desk by July 4. Coming out of all the discussion and debate, it seems the Mega Bill wants to handicap wind and solar and batteries. But why? Reasons Why The Mega Bill Would Handicap Wind And Solar Energy. First, the Bill will cause electricity prices to rise. If cheap wind, solar and batteries are handicapped in preference to expensive almost-defunct coal power plants, commercially unproven SMRs (small modular nuclear reactors), and next-gen geothermal methods, then prices of electricity will rise. Table 1 lays this out, using the most recent LCOE data from Lazard. Table 1. Most recent LCOE estimates for various electrical sources. With tax credits and based on a utility scale, solar PV + BESS and wind + BESS are cheaper than geothermal with tax credits, and much cheaper than gas-fired power, nuclear, and coal. If the Mega Bill handicaps wind and solar in the race, electrical costs will zoom upwards. Second, the Bill seems to be unaware of green energy success in Australia. In the state of South Australia renewables plus batteries have been providing 72% of grid electricity continuously for three years, and this is expected to rise to 100% by 2027. Solar, wind, and batteries have proven the stability and reliability of renewables commercially. The first grid-scale BESS was started in 2017 by Elon Musk in South Australia, and BESS are expanding rapidly in the U.S. as well as in Australia. Intermittent power is no longer a reason to dismiss renewables, despite what the Energy Secretary says, because BESS have solved this problem and electricity from solar and wind renewables with BESS is dispatchable. Third, the Bill assumes new investments in old energy (coal, natural gas, and nuclear) will be embraced by the U.S. population. However, global spending on low-carbon power has doubled in the past five years. Solar PV is the leader in this space, with investments that will reach $450 billion in 2025. Coal is too dirty when it burns, and in the U.S. the market share has dropped from 50% in 2011 to 11% in 2024. Natural gas burns cleaner than coal, but the market for new gas-fired power plants has dropped out in the past two years, due to cost and delays in permitting and supply chains. The cost of new nuclear reactors, whether traditional reactors or SMRs, is substantially higher than renewable energies (Table 1). There is also the ubiquitous threat of being exposed to nuclear radiation, either from nuclear accidents or from underground storage of nuclear waste. It has been reported that U.S. nuclear reactors that were decommissioned some time ago can be recommissioned, but at a heavy cost of around $1 billion per unit. Fourth, the Bill enables China to forge ahead with a green energy economy, while the U.S. goes backward. Energy from solar, wind, and batteries is cheap, and has a short new-build time. It will continue to provide jobs and grow the economy, and benefits include lower electricity prices and less pollution. A key advantage is already-commercialized power for data centers that will enable the U.S. to compete with China in the race for AI. The handicap and setbacks of a thriving clean industry in the U.S. would be China's gain. Fifth, the Bill will force job losses by handicapping green industries. If projects in the above list of seven in Figure 1 were to be canceled due to the Mega Bill handicaps, there could be serious job losses. To illustrate by results in 2024, one report quotes $80 billion invested in clean power in 2024, which supported 1.4 million jobs in the U.S. Another answer is that current tax credits would enable strong economic growth by 2035: almost $2 trillion of monetary growth and almost 14 million jobs. This amounts to a return on the federal investment by four-times. The green energy benefits and financial returns of wind and solar with battery storage apply to both Republican and Democratic states in the U.S.. But so do the losses, if Congress decides to handicap wind and solar renewables. The biggest losses may be soaring electricity costs in the U.S., and the U.S. bending to China's clean energy boom of surging solar and BESS projects that will reliably service their AI data center programs.
Arab News
11-06-2025
- Business
- Arab News
Saudi Arabia's ACWA Power plans $5bn investment deal with Uzbekistan
RIYADH: Saudi utility giant ACWA Power is planning to invest $5 billion in Uzbekistan, affirming its status as the leading foreign investor in the Central Asian nation's energy sector, according to a top official. Speaking at the Tashkent International Investment Forum, Soumendra Rout, ACWA Power's country head for Uzbekistan, said that this planned $5 billion deal is a part of the company's broader strategy aimed at increasing its total commitments in the country to $15 billion, UZ Daily reported. Being the largest foreign player in Uzbekistan's energy sector, ACWA Power has already implemented 19 projects in the country worth a combined value of $5 billion. Out of these 19 projects, eight are focused on renewable energy, as Uzbekistan aims to generate 40 percent of its electricity from clean sources by the end of this decade. 'We are not going to stop here. Our objective is to expand our investments. During this forum, we plan to sign another agreement with the government of Uzbekistan worth $5 billion,' said Rout. During the forum, Rout also emphasized the importance of Islamic finance instruments in ensuring sustainable economic development, particularly among small and medium-sized enterprises. He added that Shariah-compliant financing mechanisms are capable of offering more effective support to SMEs compared to traditional financing tools. 'We are ready to share our experience with Uzbekistan and contribute to building a more inclusive financial system,' said Rout. During the forum, Abid Malik, president of ACWA Power for Central Asia, announced that Uzbekistan is all set to localize the production of wind turbine components, including blades and turbines. Malik added that ACWA Power is collaborating closely with suppliers and seeks to provide technical support to local enterprises working on renewable projects in Uzbekistan. As part of a 200-megawatt wind power project currently underway in Karakalpakstan, ACWA Power has tasked its turbine supplier with establishing local manufacturing operations in Uzbekistan. 'Our supplier is planning to begin production of wind turbines and blades within the country in the near future,' added Malik. He further said that Uzbekistan will begin producing green hydrogen this month, with an annual production capacity of 3,000 tonnes. 'We believe this will elevate Uzbekistan's position on the global green hydrogen map,' said Malik. In 2023, Shavkat Mirziyoyev, president of Uzbekistan, launched a pilot green hydrogen facility in the Tashkent Region in cooperation with ACWA Power. The $88 million project is being implemented in two phases, with production from the first phase expected to begin this month. The production of green hydrogen aligns with Uzbekistan's goal to achieve 20 gigawatts of clean energy capacity by 2030. The country is also prioritizing the expansion of solar, wind, and hydroelectric energy, leveraging its natural resources to decrease reliance on fossil fuels. In April, ACWA Power commenced commercial operations at two major wind power plants in Uzbekistan. In December, the company also launched three renewable initiatives in Uzbekistan, including wind, solar, and battery storage facilities. These undertakings include the Bash and Dzhankeldy Wind Power Plants, with a total capacity of 1,000 megawatts and a transmission line. Additionally, there are the Samarkand 1 and 2 solar projects, which have a combined capacity of 1,000 MW of solar power, along with a 1,000 MWh battery energy storage system. The Tashkent BESS Project has a capacity of 500 MWh.
Sustainability Times
10-06-2025
- Science
- Sustainability Times
'China Tightens Solar Grip': Already Dominating the Market, Beijing Unveils New Tech to Cement Total Global Control
IN A NUTSHELL 🌞 China has achieved a breakthrough in solar technology with a new photothermal cocrystal named CBC. has achieved a breakthrough in solar technology with a new photothermal cocrystal named CBC. 🚀 The CBC cocrystal boasts an impressive 67% photothermal conversion efficiency , positioning it among the top performers globally. , positioning it among the top performers globally. 🔧 Beyond solar panels, CBC's applications include contactless communication systems and secure portable electronics. and secure portable electronics. 🏭 The simple synthesis of CBC allows for industrial-scale production, making it an attractive option for sustainable energy solutions. The dawn of a new era in solar energy is upon us, and at the forefront is China with a groundbreaking innovation in photothermal technology. By achieving a conversion efficiency of 67%, China has set a new benchmark in the solar industry. This breakthrough heralds a shift towards organic solar solutions that match the performance of traditional silicon-based panels. What does this mean for the future of renewable energy, and how will it shape global energy dynamics? The Photothermal Revolution: A New Organic Component At the heart of this technological leap is a photothermal radical cocrystal named CBC, developed by a team of Chinese researchers from Nanchang, Nanjing, and Soochow. This innovative material emerges from the intersection of organic chemistry and materials physics. It combines two key components: coronene, an aromatic hydrocarbon known for its absorbing properties, and Br₂NDA, a radical electron acceptor. These two elements arrange themselves into crystalline micro-needles using a simple solution method, forming a stable and highly efficient crystal for converting light into heat. This novel approach promises to upend the current solar energy landscape. The CBC cocrystal's ability to harness sunlight efficiently positions it as a formidable contender against traditional silicon panels. As the world races to find sustainable and efficient energy sources, this breakthrough could be a game-changer in reducing reliance on fossil fuels. China Unleashes Next-Gen EREVs With Jaw-Dropping 870-Mile Range and Hesai LiDAR That Could Redefine Autonomous Driving Forever Impressive Photothermal Conversion: A Leap Forward The photothermal conversion rate is a measure of how effectively a device captures solar radiation and transforms it into thermal energy. This new material achieves a groundbreaking conversion rate of 67.2%, placing it among the highest-performing materials in its class. In tests conducted under near-infrared light (808 nm), the temperature of the CBC crystal soared to 186°F in mere seconds, showcasing its remarkable efficiency. Such a high conversion rate signals a significant advancement in the efficiency of solar energy devices. The implications are vast, from enhancing the performance of solar panels to potentially revolutionizing the way we approach energy harvesting in various applications. As industries and governments worldwide strive for greener energy solutions, this advancement brings us closer to a future where solar energy is a primary power source. 'Old Rockets, New Threat': China Converts Aged Artillery Into Deadly Gliders Designed to Strike Fast-Moving Aerial Targets Applications Beyond Solar Panels: Communication and Beyond The potential applications for the CBC cocrystal extend beyond traditional solar panels. Researchers have successfully used the crystal to modulate a laser beam and transmit signals in the near-infrared spectrum. This ability to encode and decode Morse code through light variations opens new avenues for contactless communication systems. Such systems could revolutionize secure portable electronics, discrete transmission systems, and intelligent biomedical devices. By combining extensive optical absorption, rapid thermal conduction, and stable structure, CBC becomes a versatile tool—capable of acting as a sensor, receiver, and transmitter. This multifunctionality underscores the potential of CBC to impact various sectors, from consumer electronics to healthcare, by providing innovative solutions that are both efficient and adaptable. 'China's Nuclear Sites Could Be Attacked': These Future War Threats from the PLA Spark Global Fear and Urgency Scaling Up: Industrial Production Opportunities The synthesis of the CBC cocrystal is straightforward, occurring at room temperature in a simple solution. This simplicity means that scaling up production to an industrial level is feasible without incurring exorbitant costs. This characteristic makes CBC an attractive option for mass production, especially for portable solar devices, environmental sensors, and smart textiles. Given that CBC's efficiency surpasses most known organic photothermal materials, it is poised to set a new standard in lightweight, flexible solar thermogenerators. As industries explore sustainable production processes, CBC offers a pathway to more accessible and cost-effective renewable energy solutions, potentially transforming industries reliant on solar technology. China's Growing Influence in Solar Energy China has long held a dominant position in the solar panel sector, producing approximately 80% to 90% of the world's photovoltaic cells. This hegemony stems from substantial investments, state-led industrial policies, and a low-cost production capacity enabled by access to polysilicon and a competitive workforce. In 2023, China's solar panel exports reached unprecedented levels, reinforcing its market dominance. However, this dominance is not without its challenges, as it creates a dependency for other nations on Chinese solar materials, leading to international tensions over market practices like overcapacity and dumping. As China continues to innovate and lead in solar technology, what will be the global response to this growing influence in the renewable energy sector? Our author used artificial intelligence to enhance this article. Did you like it? 4.5/5 (20)
E&E News
05-06-2025
- Business
- E&E News
Q&A: Canadian Energy Minister Tim Hodgson
OTTAWA — Canadian Prime Minister Mark Carney enlisted his former Goldman Sachs colleague, Tim Hodgson, to fight an 'economic war' with the United States. Hodgson, a 64-year-old rookie politician but a seasoned C-suiter, is staring down a hefty to-do list as Canada's new minister of energy and natural resources. Carney and Hodgson have pledged to transform Canada into an 'energy superpower' that depends less on American customers. That means balancing the demands of an oil-patch hungry for new customers and growing renewable energy sectors. Advertisement As he got his feet wet in the political arena, Hodgson found inspiration in the most Canadian of ways: a stressful hockey game.
Zawya
05-06-2025
- Business
- Zawya
Egypt: Cabinet approves amendment to AMEA Power's Abydos 2 solar project timeline
Arab Finance: The Egyptian cabinet has approved a request by AMEA Power, a subsidiary of the Al Nowais Group, to revise the commercial operation timeline of the Abydos 2 solar energy project, according to a statement. Under the new plan, the 1,000-megawatt solar power plant, accompanied by 600 megawatt-hours of energy storage capacity, will be completed in a single phase in June 2026, instead of the previously scheduled two-phase rollout. The company reaffirmed its full commitment to advancing the project, highlighting its dedication on financial, technical, and ethical fronts to ensuring the successful and timely completion of the facility. © 2020-2023 Arab Finance For Information Technology. All Rights Reserved. Provided by SyndiGate Media Inc. (
