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Finance Minister Nirmala Sitharaman on Tuesday announced a cut in customs duty on minerals such as lithium, copper and cobalt, which are critical for nuclear energy, renewable and other sectors, to give a fillip to the energy transition. In her budget speech in Lok Sabha, Sitharaman recalled that in the interim budget she had announced a strategy to sustain high and more resource-efficient economic growth, along with energy security in terms of availability, accessibility and affordability. "We will bring out a policy document on appropriate energy transition pathways that balances the imperatives of employment, growth and environmental sustainability," she said. Noting that minerals such as lithium, copper, cobalt and rare earth elements are critical for sectors like nuclear energy, <keyword id="19895602" type="General" weightage="20" keywordseo="renewable-energy" source="keywords">renewable energy</keyword>, space, defence, telecommunications, and high-tech electronics, she proposed to fully exempt customs duties on 25 critical minerals and reduce BCD (basic customs duty) on two of them. This will provide a major fillip to the processing and refining of such minerals and help secure their availability for these strategic and important sectors, she said. She stated that energy transition is critical in the fight against climate change. To support energy transition, she proposed to expand the list of exempted capital goods for use in the manufacture of solar cells and panels in the country. Further, she stated that in view of sufficient domestic manufacturing capacity of solar glass and tinned copper interconnect, I propose not to extend the exemption of customs duties provided to them. Noting that steel and copper are important raw materials and to reduce their cost of production, she proposed to remove the BCD on ferro nickel and blister copper. "I am also continuing with nil BCD on ferrous scrap and nickel cathode and concessional BCD of 2.5 per cent on copper scrap," she said. About the PM Surya Ghar Muft Bijli Yojana, which was rolled out earlier this year, he informed the House that in line with the announcement in the interim budget, PM Surya Ghar Muft Bijli Yojana has been launched to install rooftop solar plants to enable 1 crore households obtain free electricity up to 300 units every month. The scheme has generated remarkable response with more than 1.28 crore registrations and 14 lakh applications, and we will further encourage it, he stated. She further stated that a policy for promoting pumped storage projects will be brought out for electricity storage and facilitating smooth integration of the growing share of renewable energy with its variable &amp; intermittent nature in the overall energy mix. She stated that nuclear energy is expected to form a very significant part of the energy mix for Viksit Bharat. Towards that pursuit, our government will partner with the private sector for setting up Bharat Small Reactors; research &amp; development of Bharat Small Modular Reactor and research &amp; development of newer technologies for nuclear energy, she informed the House. The R&amp;D funding announced in the interim budget will be made available for this sector, she added. The development of indigenous technology for Advanced Ultra Super Critical (AUSC) <keyword id="20421620" type="General" weightage="20" keywordseo="thermal-power" source="keywords">thermal power</keyword> plants with much higher efficiency has been completed, she informed the House. A joint venture between NTPC and BHEL will set up a full-scale 800 MW commercial plant using AUSC technology and the government will provide the required fiscal support, she added. Moving forward, the development of indigenous capacity for the production of high-grade steel and other advanced metallurgy materials for these plants will result in strong spin-off benefits for the economy, she pointed out. A roadmap for moving the 'hard to abate' industries from 'energy efficiency' targets to 'emission targets' will be formulated, she stated adding that appropriate regulations for the transition of these industries from the current 'Perform, Achieve and Trade' mode to 'Indian Carbon Market' mode will be put in place. She further stated that an investment-grade energy audit of traditional micro and small industries in 60 clusters, including brass and ceramic, will be facilitated. Financial support will be provided for shifting them to cleaner forms of energy and implementation of energy efficiency measures. The scheme will be replicated in another 100 clusters in the next phase, she stated. Gaurav Kedia, Chairman, Indian Biogas Association said that the <keyword id="19908389" type="General" weightage="20" keywordseo="Union-Budget" source="keywords">Union Budget</keyword> 2024 has unveiled a roadmap towards a sustainable and resilient India, with agriculture and energy security at its core. It is anticipated that these initiatives will catalyze the growth of the biogas industry, leading to increased rural employment, reduced carbon emissions, and improved soil health, he stated. SEE ALSO:<a href="https://www.businessinsider.in/budget/news/budget-2024-25-changes-to-tax-slabs-increased-standard-deduction-and-other-changes-to-direct-taxation/articleshow/111951205.cms" target="_blank"></a> <a href="https://www.businessinsider.in/budget/news/budget-2024-25-changes-to-tax-slabs-increased-standard-deduction-and-other-changes-to-direct-taxation/articleshow/111951205.cms" target="_blank">Budget 2024-25 – Changes to tax slabs, increased standard deduction and other changes to direct taxation</a><a href="https://www.businessinsider.in/business/news/expectations-from-union-budget-2024-25-how-will-this-budget-impact-you/articleshow/111946291.cms" target="_blank"></a> <a href="https://www.businessinsider.in/business/news/expectations-from-union-budget-2024-25-how-will-this-budget-impact-you/articleshow/111946291.cms" target="_blank">Union Budget 2024-25: How will this budget impact you?</a> <a href="https://www.businessinsider.in/budget/news/budget-2024-record-allocation-of-rs-1-48-lakh-crore-for-education-employment-and-skilling/articleshow/111951228.cms">Budget 2024: Record allocation of Rs 1.48 lakh crore for education, employment and skilling!</a>

FM cuts customs duty on minerals critical for energy transition

<ul class="summary-list"><li>This post originally appeared in the Insider Today newsletter.</li></ul>Happy Friday! Looking for a new way to jumpstart your mornings? (Besides reading this newsletter, of course.) Retired Navy SEAL Jocko Willink <a target="_blank" href="https://www.businessinsider.com/former-navy-seal-military-morning-routine-helps-him-in-business-2024-10">shared his daily routine</a> that keeps the now-business owner focused.Speaking of new, we've got a cool tool for you to play around with: AI-powered search. We're using generative AI to help easily find all of our great stories. <a target="_blank" href="https://www.businessinsider.com/">Check it out on our homepage</a>.In today's big story, inside Amazon's internal pitch for turning to nuclear power <a target="_blank" href="https://www.businessinsider.com/amazon-nuclear-power-strategy-ai-2024-10">to meet its growing energy needs</a>.What's on deck:<ul><li>Markets: <a target="_blank" href="https://markets.businessinsider.com/news/stocks/tesla-stock-price-q3-earnings-elon-musk-profit-margins-guidance-2024-10">Tesla's stock had a monster day</a> following its stellar earnings report.</li><li>Tech: In an exclusive interview, <a target="_blank" href="https://www.businessinsider.com/marc-benioff-salesforce-ceo-interview-microsoft-ai-threatens-crm-lead-2024-10">Marc Benioff bashes Microsoft's Copilot</a>.</li><li>Business: The <a target="_blank" href="https://www.businessinsider.com/what-is-going-on-with-economy-jobs-inflation-election-voting-2024-10">good and bad about the economy</a> less than two weeks from the election.</li></ul>But first, let's power up.If this was forwarded to you, <a target="_blank" href="https://www.businessinsider.com/subscription/newsletter/insider-today">sign up here.</a><h3 id="7fa5f018-5b05-4a37-a8dc-d3f89138bcb3">The big story</h3><h2 id="5fd547b9-ec52-41fc-8e08-4f4b27dd8097">Nuclear needs</h2><div type="image" title="Amazon logo with smoke coming out." height="1250" width="2500" msid="114590276" hostid="261" sizebytes="87984"></div>What's bigger than tech's ambitious plans for generative AI? The amount of energy needed to power it.That's led Big Tech to consider nuclear power to address its skyrocketing energy requirements.Business Insider's Eugene Kim has a report on <a target="_blank" href="https://www.businessinsider.com/amazon-nuclear-power-strategy-ai-2024-10">how Amazon navigates its nuclear ambitions</a>. In a signal of how serious Amazon is about going nuclear, the company pitched the energy source to CEO Andy Jassy this June, according to a company document he obtained.Since then, Amazon has led a $500 million financing round for a company developing modular nuclear reactors. It also agreed to purchase power from Talen Energy's nuclear-powered data center in March.And it's not alone.Microsoft and Google have invested in the sector, and OpenAI CEO Sam Altman backed a nuclear reactor startup.The stakes are high for tech players to get energy. Eugene previously reported on how Amazon's dreams of building a data center empire <a target="_blank" href="https://www.businessinsider.com/amazon-data-centers-delays-costs-power-labor-shortages-aws-ai-2024-10">face the realities of electricity, water, and labor constraints</a>.Should those data center efforts continue to struggle, companies' big bets on generative AI could also falter.<div type="image" title="Protesters at Three Mile Island." height="470" width="700" msid="114590280" hostid="261" sizebytes="35920"></div>A tech-nuclear relationship is mutually beneficial.Tech companies need cost-efficient, reliable energy sources <a target="_blank" href="https://www.businessinsider.com/google-nuclear-power-ai-data-centers-2024-10">that won't increase their carbon footprint</a>, writes BI's Hasan Chowdhury. Nuclear power ticks that box better than other clean energy options like solar or wind.Nuclear power, meanwhile, <a target="_blank" href="https://www.businessinsider.com/data-centers-amazon-ai-nuclear-power-grid-2024-5">is an industry in desperate need of some love</a>, BI's Daniel Geiger and Ellen Thomas previously reported. With at least one commercial nuclear plant closing every year since 2013, the sector has welcomed the interest."We're seeing customers approach us at a rate that we haven't seen in my history with this industry," Jim Burke, CEO of nuclear owner Vistra, said back in March.Naturally, there are skeptics. A byproduct of nuclear power is radioactive waste. The transportation and storage of that remains a hot-button issue. High-profile incidents involving power plants like Chernobyl and Fukushima also drew criticism and stoked fears around the globe.Big Tech hasn't shied away from it. In September, Microsoft cut a deal with Constellation Energy to get power from <a target="_blank" href="https://www.businessinsider.com/three-mile-island-nuclear-plant-reopens-power-microsoft-ai-push-2024-9">part of the Three Mile Island nuclear plant</a>, home to the worst commercial nuclear accident in US history.<h3 id="77f31a4c-8462-4e3d-a71f-838cb79493fb">News brief</h3><h2 id="1fcd294b-3f53-425f-9f20-4093e8623b59">Top headlines</h2><ul><li>Exclusive: Maven Clinic is swapping out its finance chiefs <a target="_blank" href="https://www.businessinsider.com/mavens-cfo-out-as-womens-health-startup-gets-fresh-funding-2024-10">as the women's health unicorn looks ahead to an IPO</a>.</li><li>The 'whale' placing huge bets on a Trump win is a French national with <a target="_blank" href="https://www.businessinsider.com/polymarket-donald-trump-betting-odds-whale-french-trader-harris-polls-2024-10">extensive trading experience</a>.</li><li>The New York Liberty celebrated its first-ever championship and record-breaking WNBA season <a target="_blank" href="https://www.businessinsider.com/new-york-liberty-wnba-championship-parade-photos-2024-10">with a jubilant party</a>.</li><li>Former Avenue employee accused of 'blackmailing' billionaire Marc Lasry countersues, claiming sexual harassment <a target="_blank" href="https://www.businessinsider.com/billionaire-marc-lasry-accused-of-sexual-harassment-in-countersuit-2024-10">including forced kissing, groping, and comments about her body</a>.</li><li>Putin once asked Elon Musk to not activate Starlink over Taiwan as a <a target="_blank" rel="noopener" href="https://www.businessinsider.com/putin-elon-musk-starlink-taiwan-china-favor-xi-jinping-report-2024-10">favor to Xi Jinping</a>: report.</li></ul><h2 id="8120060b-ae66-48dc-b149-f0489a30ffa2">3 things in markets</h2><div type="image" title="Name plates on blue background" height="900" width="1200" msid="114590272" hostid="261" sizebytes="60254"></div><ol><li>Welcome to the world of hedge funds, where job titles are made up and don't matter. Unlike its Wall Street peers, the $4.3 trillion hedge-fund industry <a target="_blank" href="https://www.businessinsider.com/an-inside-look-at-hedge-fund-job-titles-2024-10">has little uniformity regarding titles</a>. The naming free-for-all means employees and hiring managers can take advantage of using trumped-up titles.</li><li>Tesla's stock just went from 0 to 60. Shares of the EV giant <a target="_blank" href="https://markets.businessinsider.com/news/stocks/elon-musk-net-worth-gains-tesla-stock-price-earnings-tsla-2024-10">finished the day up almost 22%</a> after Wednesday's strong earnings report. Elon Musk added $30 billion to his net worth from the spike.</li><li>The election's biggest risk to the market isn't who wins but how long it takes to decide. BlackRock Investment Institute head Jean Boivin said <a target="_blank" href="https://markets.businessinsider.com/news/stocks/us-presidential-election-trump-harris-outlook-volatility-stock-sell-off-2024-10">a contested election would be bad news for investors</a>. He's not alone in his concerns, as others have pointed to short-term volatility when results were delayed in 2020 and 2000.</li></ol><h2 id="f4b54806-7f81-450c-ba32-92560d4fae9b">3 things in tech</h2><div type="image" title="Salesforce CEO Marc Benioff." height="1333" width="2000" msid="114590275" hostid="261" sizebytes="41956"></div><ol><li>Marc Benioff isn't buying Microsoft's AI hype. In an exclusive interview with BI, <a target="_blank" href="https://www.businessinsider.com/marc-benioff-salesforce-ceo-interview-microsoft-ai-threatens-crm-lead-2024-10">the Salesforce CEO bashed Microsoft's AI Copilot</a>, calling it inaccurate and dubbing the tool "Clippy 2.0." Benioff's diss came after Microsoft recently announced new Dynamics 365 AI agents, directly competing with a new Salesforce product available today.</li><li>Keep your eyes on these 13 creator-economy startups. New startups are finding ways to break into an industry dominated by Big Tech. BI asked venture capitalists which new creator companies they felt showed promise. From advertising platforms to AI tech companies, <a target="_blank" href="https://www.businessinsider.com/promising-creator-economy-influencer-marketing-startups-per-top-vcs-2024-10">here's the startups to watch</a>.</li><li>A longtime safety researcher left OpenAI. Miles Brundage, who advised OpenAI leadership on safety and policy, <a target="_blank" href="https://www.businessinsider.com/another-safety-researcher-is-leaving-openai-2024-10">announced his departure</a> on X. The AGI Readiness team he oversaw will also be disbanded. Brundage's exit is the latest in a string of high-profile departures from the startup.</li></ol><h2 id="9260fa45-d397-4b3c-b4f8-4bb193976216">3 things in business</h2><div type="image" title="Ben Franklin flag on red background" height="900" width="1200" msid="114590270" hostid="261" sizebytes="100740"></div><ol><li>Here's what's going on with the economy ahead of the election. For many Americans, the state of the economy is top of mind heading into the polls. The good news? <a target="_blank" href="https://www.businessinsider.com/what-is-going-on-with-economy-jobs-inflation-election-voting-2024-10">It's doing broadly well</a>. The unemployment rate remains relatively low, and inflation has slowed. Still, other not-so-great data points have voters feeling pessimistic.</li><li>The housing crisis, as explained by two swing states. Renters and homeowners in swing states have been disproportionately affected by rising housing costs. Two states, Pennsylvania and Arizona, exemplify the problem. While Arizona's population is surging, Pennsylvania's is shrinking — <a target="_blank" href="https://www.businessinsider.com/arizona-pennsylvania-swing-state-home-prices-surge-housing-shortage-2024-10">and neither can build enough homes</a>.</li><li>Behind the scenes of Emma Tucker's Wall Street Journal makeover. Tucker joined the legacy outlet in 2023 with a focus on diversifying and growing the paper's subscriber base. So far, it seems to be working, with subscriptions increasing by 11% over the past year. <a target="_blank" href="https://www.businessinsider.com/wall-street-journal-editor-emma-tucker-interview-peter-kafka-2024-10">She spoke with BI about how she's remaking the paper</a> — including reorganizing and cutting staff.</li></ol><h2 id="1ad7b482-3f4b-44b4-81b6-a864aa386478">In other news</h2><ul><li>Jensen Huang says <a target="_blank" href="https://www.businessinsider.com/jensen-huang-tsmc-helped-fix-design-flaw-with-nvidias-blackwell-2024-10">a design flaw with Nvidia's Blackwell chips has been fixed</a> — with TSMC's help.</li><li>Why some CEOs are <a target="_blank" href="https://www.businessinsider.com/jamie-dimon-bill-gates-ceo-avoid-criticizing-trump-2024-10">afraid of publicly criticizing Trump</a>.</li><li>Norway wants to ban under-15s from social media, and <a target="_blank" href="https://www.businessinsider.com/norway-ban-social-media-kids-under-15-backfire-2024-10">expects an 'uphill battle.'</a></li></ul><h2 id="9f5d80ac-3466-429f-a50a-2ffbb70c65ff">What's happening today</h2><ul><li>Former Abercrombie &amp; Fitch CEO Mike Jeffries will be arraigned on sex trafficking charges in federal court.</li><li>SpaceX's Crew-8 mission crew returns to Earth today.</li></ul>The Insider Today team: Dan DeFrancesco, deputy editor and anchor, in New York. Jordan Parker Erb, editor, in New York. Hallam Bullock, senior editor, in London. Milan Sehmbi, fellow, in London.

Big Tech goes nuclear: Amazon's pitch to use power plants shows the crucial role the energy source plays for AI

<ul class="summary-list"><li>AES Corporation introduces Maximo, an AI-powered robot that installs solar panels.</li><li>The company said Maximo will help speed up renewable energy transition and wouldn't replace humans.</li></ul>Installing solar panels can be back-breaking work, so one of the largest renewable energy companies is using robots to do the heavy lifting.AES Corporation on Tuesday introduced "Maximo," an AI-powered robot that can lift solar panels and precisely place them into long rows. The robot will be used to construct the largest solar farm with battery storage in the US, which will help power Amazon's data centers."We are really focused on speed," Chris Shelton, AES' chief product officer, said during a call with reporters. "And by speed, we mean speed for the customers — so getting these projects online faster —and speed for the energy transition. The more [solar] we can deploy, the more we can reduce overall carbon in the economy."AES said Maximo can install solar panels twice as fast as humans and at half the cost. The robot was tested in various outdoor conditions at projects in New York, Virginia, Ohio, and Louisiana and has installed about 10 megawatts of energy to date. Amazon's solar farm in Kern County, California, is expected to have 200 times that capacity.The automation comes as analysts predict there won't be enough workers to keep pace <a target="_blank" class="" href="https://www.businessinsider.com/solar-careers-in-demand-workforce-shortage-2024-7">with the rapid rise in solar demand</a>, especially now that the Biden administration is pouring hundreds of billions of dollars into renewable energy under the Inflation Reduction Act. In 2021, the administration <a target="_blank" class="" href="https://www.energy.gov/eere/solar/solar-workforce-development#:~:text=According%20to%20the%20Solar%20Futures,and%201%2C500%2C000%20workers%20by%202035.">forecasted that the solar workforce</a> needed to at least double to 500,000 workers by 2035 to reach a national goal of 100% carbon-free electricity that year.Amazon and other big tech companies are driving a lot of the demand for renewable energy. They have ambitious climate goals, yet are building out power-hungry data centers to store our data and develop AI. In some states, those power demands <a target="_blank" class="" href="https://www.businessinsider.com/data-centers-energy-demand-utilities-green-renewable-2023-10">are delaying the closure of dirty power plants</a>.Quickly scaling up solar farms and battery storage is key to keeping corporate climate promises. But adding Maximo to solar sites could also fuel concerns that robots will dim human job prospects, just as automation replaced some factory jobs.Ron Rodrique, vice president of project management at AES Clean Energy, said Maximo isn't replacing human solar installers at the company's projects."Maximo is not out there to replace the panel installers or other people that we have on our sites," Rodrique said. "This is really about that safety aspect of taking away some of the heavy lifting that people have to do."<div type="image" title="A robot places a solar panel on a long row." height="4320" width="8192" msid="112166073" hostid="261" sizebytes="2650150"></div>Lifting 60-pound solar panels repeatedly, in some cases 200 panels a day, in desert heat takes a toll on the body. If that isn't a requirement of the job, Rodrique said a broader range of workers could apply, including people with disabilities.AES said Maximo has one person driving the robot while another monitors and controls its movements with a single button press.The project with Amazon is just the beginning. If all goes well, AES expects Maximo to help clear a huge backlog of solar projects over the next three years, with the largest customers being data center hyperscalers.

An AI-powered robot is helping install Amazon's largest solar farm 

<ul class="summary-list"><li>Virtual power plants aggregate homeowners' rooftop solar, battery storage, and electric vehicles.</li><li>State energy agencies and utilities tap the energy to prevent power outages during extreme weather.</li></ul>A growing number of homeowners are getting paid to leverage their rooftop solar, battery storage, and electric vehicles to help prevent power outages and clean up the grid.Their at-home renewable energy is being networked together to form "virtual power plants" in states like California, Vermont, Texas, and Utah, where energy agencies and utilities are tapping these resources to meet peak electricity demand during extreme weather. These VPPs are lowering costs and keeping dirtier "peaker" gas plants, which are typically used during emergencies, offline. In exchange, homeowners are paid anywhere from a few hundred dollars to up to $10,500 in one year, depending on the program.GoodLeap, which finances and develops software for sustainable home energy systems, launched its own VPP program this summer in California by aggregating 200 of its customers' batteries. The storage capacity is made available to a state-wide grid support program run by the California Energy Commission. So far, the batteries have helped alleviate six "stress" events since July, including during heat waves, GoodLeap said. The company offered customers up to $350 this year for participating, and GoodLeap gets paid by the state program <a target="_blank" href="https://dsgs.olivineinc.com/faq/#acc-r55c644-2">at varied monthly rates</a>.While versions of VPPs have existed for years — including utilities adjusting thermostats and water heaters to conserve energy — what's new is the rising adoption of home solar panels, battery storage, and EV chargers that can send power back to the grid. The extra capacity is critical at a time <a target="_blank" href="https://www.businessinsider.com/blackouts-power-outages-more-common-climate-change-electric-grid-infrastructure-2023-3">when extreme heat and storms are causing more power outages</a> and electricity demand <a target="_blank" href="https://www.businessinsider.com/data-centers-energy-demand-utilities-green-renewable-2023-10">is surging from data centers</a> and a US manufacturing boom.The Energy Department <a target="_blank" href="https://liftoff.energy.gov/wp-content/uploads/2023/09/20230911-Pathways-to-Commercial-Liftoff-Virtual-Power-Plants_update.pdf">estimated that between 2023 and 2030</a>, the US will have to add enough power capacity to meet more than 200 gigawatts of peak demand, which is comparable to about 200 nuclear power plants. At least 10% to 20% of that demand could be met by VPPs, which have a lot of untapped potential across the US, all while saving some $10 billion in annual grid costs."We're still in the single-digits, in terms of the percentage of homeowners that have solar and battery storage in the US," Dan Lotano, GoodLeap chief strategy officer, told Business Insider. "So as utility rates continue to rise and technology costs are driven down, I'm bullish about where this market can go. And now we've added another value bucket to homeowners that they couldn't access beforehand."GoodLeap's entry into VPPs trails behind its competitor in the home energy market, Sunrun. The company already has 16,200 customers enrolled in the California Energy Commission's program, which launched in 2022. Sunrun has aggregated enough battery capacity to match a natural gas "peaker" plant or take the entire city of Santa Monica off the grid, according to Chris Rauscher, Sunrun's head of grid services and VPPs. Sunrun in California auto-enrolls customers who are paid $100 a year, while ensuring that batteries maintain at least 20% charge in case people need backup power."We have been called on all summer long," Rauscher said.Sunrun is also working with three owners of the all-electric Ford F-150 Lightning in Maryland to test its ability to power homes during peak summer demand to ease pressure on the grid. The truck owners are customers of Baltimore Gas and Electric Company.Brian Foreman is one of the early adopters. In late June, after several months of Ford and Sunrun troubleshooting software, the battery in Foreman's Ford-150 started powering his home from the peak hours of 5pm to 9pm each night. Foreman said he paid $9,200 for the installation of a bidirectional power system, and now earns $500 a month for participating in the pilot this summer through September."I feel like I'm playing a part in making the grid more resilient," Foreman told BI.Some utilities are warming up to leveraging VPPs for several reasons. In 2020, the Federal Energy Regulatory Commission, which oversees interstate electricity markets, required power grid operators to develop plans for integrating homeowners' rooftop solar, batteries, EVs, and energy-smart devices into the market. Many utilities are also struggling to meet renewable energy targets, in part because it takes a long time to build big infrastructure projects in the US and hook them up to the power grid."It's really hard to build utility-scale solutions," Sunrun CEO Mary Powell told BI last month. "I long ago said we went from NIMBY to BANANA, which is 'build absolutely nothing anywhere near anyone.'""I think all arrows point to innovation," Powell added. "Let's leverage technologies that are more cost-effective because they're paid for by the customers that are installing them."Before leading Sunrun, Powell was president and CEO of Green Mountain Power, Vermont's largest utility. The utility's energy supply is already 100% carbon-free, including renewable and nuclear power, and it's been a trailblazer in VPPs since 2015. That year, Green Mountain Power started subsidizing some customers who installed backup battery power as long as they shared it during peak demand.The program has grown to more than 4,000 batteries with a capacity of nearly 70 megawatts — or similar to a larger gas power plant in the state, according to Kristin Carlson, vice president of strategy and external relations at Green Mountain Power. The utility has saved about $3 million annually in recent years, which is passed onto all customers. Homeowners can get up to $10,500 upfront to buy and install their own batteries, or $5,500 for two Tesla Powerwalls, as long as they participate in the VPP for 10 years."Because we are able to use our virtual power plant, we're not having to purchase expensive and often dirty power from the regional grid," Carlson said. "We've been able to retire two fossil-fuel-powered peaker plants. That's cut carbon emissions."

Homeowners are getting paid up to $10,500 a year to create 'virtual power plants' to help out stressed grids

<ul class="summary-list"><li>A new law proposed by Germany will limit which solar producers are reimbursed when energy prices fall.</li><li>A renewable supply glut has caused prices to often fall into negative territory.</li></ul>An overload of solar power in Germany has piled up costs on the government, prompting a new draft law that would limit subsidies for the country's industry players, <a target="_blank" href="https://www.bloomberg.com/news/articles/2024-10-28/germany-to-cut-some-solar-farms-off-subsidies-amid-oversupply">Bloomberg</a> reported.The outlet cited fresh plans to restrict which producers will receive subsidies when energy falls below a fixed price. Given how often wholesale power prices have dropped into negative territory, this has been an issue for the state.The government has previously estimated that German renewable subsidies would <a target="_blank" href="https://www.bloomberg.com/news/articles/2024-05-29/germany-s-climate-transition-costs-to-spiral-as-subsidies-double">reach $21.6 billion this year</a>.That's as the country's solar buildout has brought so much renewable energy online that wholesale power prices have frequently fallen below zero. This trend is especially evident during the <a target="_blank" href="https://markets.businessinsider.com/news/commodities/solar-panel-supply-german-electricity-prices-negative-renewable-demand-green-2024-5">sunny summer months</a> and has been <a target="_blank" href="https://www.bloomberg.com/news/articles/2024-05-29/germany-s-climate-transition-costs-to-spiral-as-subsidies-double">ongoing throughout Europe</a>.However, since German producers are guaranteed to receive a minimum strike price, the government is responsible for covering the difference in prices. This so-called "feed-in tariff" reimburses renewable companies for contributing to the public grid.The new draft law seeks to limit which solar producers are required to sell their output to electric exchanges and, by extent, who is eligible for feed-in tariffs. Currently, plants with 100 kilowatts of capacity are required to participate. By the start of 2027, this will drop to 75 kilowatts.Also implemented is an earlier law that allows the government to withhold payments for mid-sized and large solar projects, anytime wholesale market prices turn negative, Bloomberg said.This could trigger uncertainty in a market that has ballooned since Russia's invasion of Ukraine, an event that caused Europe to search for alternatives to Moscow's energy supply.Meanwhile, analysts have noted this year that supplementary investments in <a target="_blank" class="" href="https://markets.businessinsider.com/news/commodities/solar-panel-supply-german-electricity-prices-negative-renewable-demand-green-2024-5">battery technology and the electric grid</a> are needed if renewable energy is to escape negative pricing.

Germany's government is making life more difficult for solar farms that it often has to subsidize

Billionaire <keyword id="19929098" type="General" weightage="20" keywordseo="gautam-adani" source="keywords">Gautam Adani</keyword>'s group will supply <keyword id="19914923" type="General" weightage="20" keywordseo="clean-energy" source="keywords">clean energy</keyword> to power Google's cloud services and operations in India, the two firms said on Thursday. <keyword id="19955648" type="General" weightage="100" keywordseo="Adani-Group" source="keywords" meta.keywordsubtype="org" meta.entityname="Adani Group" meta.hostid="261" meta.entityid="Adani Group">Adani group</keyword> will supply 61.4 megawatt of electricity from a new <keyword id="21342349" type="General" weightage="20" keywordseo="solar-wind-hybrid-project" source="keywords">solar-wind hybrid project</keyword> located at its 30 gigawatt (GW) Khavda renewable energy park in Gujarat. Google powers most of its cloud operations and services through electricity procured from the grid and is planning to run the entire operations on clean energy by 2030. Adani is expected to start commercial operations in the third quarter of 2025. At the '<keyword id="23413952" type="General" weightage="20" keywordseo="Google-for-India" source="keywords">Google for India</keyword>' event, the search giant also announced a partnership with CleanMax for sourcing 125.4 MW of clean energy to power its offices and cloud regions in India. Of the contracted volumes, 66 MW solar energy will come from Rajasthan and 59.4 MW wind energy from Karantaka. "These projects are expected to start commercial operations in Q4 2025 and will deliver <keyword id="22243112" type="General" weightage="20" keywordseo="carbon-free-energy" source="keywords">carbon-free energy</keyword> to the grid where Google operates offices and cloud regions in India," Google said. While Google made the announcement at the 'Google for India' event here, the Adani Group gave details in a statement. "Through this partnership Adani will supply clean energy from a new solar-wind hybrid project located in the world's largest renewable energy plant at Khavda, Gujarat. This new project is expected to start commercial operations in the third quarter of 2025," the Adani group statement said. This innovative collaboration will help advance Google's 24/7 carbon-free energy goal by ensuring cloud services and operations in India are supported by clean energy and thereby contribute to the <keyword id="20289318" type="General" weightage="20" keywordseo="sustainable-growth" source="keywords">sustainable growth</keyword> of Google in India. Adani had previously announced plans to set up data centres run on clean energy. It had in October 2022 leased 4.64 lakh square feet of space at its data centre in Noida to Raiden Infotech, an entity of Google.

Adani to supply clean energy for Google's cloud operations in India

Climate Action 15: 2024's top global innovators powering green solutions

<ul class="summary-list"><li>So far this year in the EU, wind and solar generated more electricity than fossil fuels.</li><li>Renewable energy met 50% of EU's power needs while fossil fuels met 27%, an Ember analysis found.</li></ul>For the first time, wind and solar generated more of the European Union's electricity than fossil fuels during the first half of the year.Wind and solar accounted for an all-time high of 30% of the region's energy needs, <a target="_blank" href="https://l.businessinsider.com/u/click?_t=c8e10479a20f45bba5aad6c5f6fbb009&amp;_m=ZnrNxVqwnFMueGbLncJuAuDabJMBt5oFp&amp;_e=DrjEVSA8twutsmKnFEYiObpcG8HAd5Khu9DzJhWI1jKQrZSU47NpvAi3EelOn56l0d-kjcJpIhHOGRZfHYlnuDelFXOzvHbD_zs0a7QOFQ8z7u9_7cynOR91rLd0fR6Y48Hj_8n7WmcpbFqdJXG3cdqOMvGV98qe4zCtc_OkLyVivBKk-WB_hlpCePc2gXJwc8tvwdRSnmvjfU6QsausQh6c5BXfLawYk6X_MAayMO_aSOuosARFTvpz-LjzzdEUhVmHRUYX32p91pIMg115ZT_g76PjqtzD-9qwfj0fvBfCad9RI72mo2hKDjo3Ot7dUR0DLeAIESJtClKTQghWwNAGbRowO8BkJ6J60d0SaMh_NbXB3bhRu531nxT078inXDLLSXUEpXJyjzCiCHJW1A%3D%3D">according to an analysis by the think tank Ember</a>. Oil, gas, and coal contributed a combined 27% of power — a 17% drop compared with the same period in 2023.It's a remarkable milestone considering that two years ago, Europe was racing to import gas because Russia cut off supplies following its invasion of Ukraine. Gas prices spiked and demand dropped. Since then, demand has started to rebound, and it's being met with renewables. Hydropower made a comeback after drought eased in certain parts of the EU, meaning that when combined with wind and solar, renewables generated half the bloc's electricity in the first half of the year."Milestones like this point towards a very clear direction of travel," Chris Rosslowe, an analyst at Ember, told Business Insider. "The question is not if, but when, renewables will dominate the European power system."The trend raises questions about the rapid build-out of gas-export terminals, known as LNG terminals, in the US and Canada to ship more fuel to Europe. Ember found that so far this year, gas generation in the EU dropped 14% compared with the same period in 2023, even as electricity demand ticked up. A mild winter helped, but the rise of renewables pushed out fossil fuels in countries like Germany, Spain, France, the Netherlands, and Belgium.<a target="_blank" href="https://l.businessinsider.com/u/click?_t=c8e10479a20f45bba5aad6c5f6fbb009&amp;_m=ZnrNxVqwnFMueGbLncJuAuDabJMBt5oFp&amp;_e=DrjEVSA8twutsmKnFEYiObpcG8HAd5Khu9DzJhWI1jLkQpmfsgRzS5IVBo7tvu_7EcCA7zzwPX3K8ncAfQkkPqyCY76iHT8IQbIKGHCCQeeC7XgADeKZg0Xyn29dnhuE4vuWEYo5bKXJkbXS7iAX9l23nYkIHkLo23TdOrjzbT0jdPe6z5d3YurN21yr3NsB0kRj4D5cedKRMUqI_we8HR-dBpdMJW0r1L4u0b7GMuOjDI1nwRps5MmmhiQF1LmincNgpAlraRQaWTawJZN0gF5CEARDbZh8g9WtgTf4T-GOxX8em4736ohkB7Vf7KMJQtwd582MjhC9xFpPNEQ5T6_lpIvsgKi1R2mR3fqrCn_eBTjJ1Dcmd5LiEHfbZI8FlqlNB3bggVuS8_obXEVgnQ%3D%3D">In a separate report</a>, Ember forecasted a global LNG supply glut by 2026 and a substantial drop in EU gas demand by 2030."There was an urgent, short-term need to diversify gas supply sources in Europe when Russia invaded Ukraine," Sarah Brown, Ember's Europe program director, said. But the rush to increase LNG exports from places like the US ignores the reality of rapidly declining gas demand in Europe, she added."It is now clear that the global supply of LNG that is online and under construction far outweighs projected demand," Brown said.In 2023, the US became the largest LNG exporter in the world, surpassing Australia and Qatar, <a target="_blank" href="https://l.businessinsider.com/u/click?_t=c8e10479a20f45bba5aad6c5f6fbb009&amp;_m=ZnrNxVqwnFMueGbLncJuAuDabJMBt5oFp&amp;_e=DrjEVSA8twutsmKnFEYiOV6x2Rb4s-g1bOzk-dA1nG7aUge4A5I_qX_RO_bYgXHEkukR5LwS3YASqKytZ6JRhFowRXH1zAeFmrD3iklyjfbV3pauCkyR8m44FQw_oQgkKbZZ9vDEz0utOLATGDrl5mqcvFC_xfr_1cEudsYZFJNcQSbDasZGalBGuuqKqP5MccGz5D0YkOmiWs3Xg1JSWONk0AMUJfHJXRBxDyF2XU8bBV3E6qHH8a2yfQxjehdO1G-fFLuvEiBmRBevtNW9-RsurF2cHKegBOit7QvnADbWfmt-eqSUDkwQIusi1P2TOJu7OmFWgOGct_XbniglADNo3d7Hm9x6t0JxGZlvyCA%3D">according to the US Energy Information Administration</a>. Europe is the main destination for those exports and demand is expected to rise through this year. Shipments to Asia are also growing. Five new LNG terminals are under construction in the US, and more than a dozen more could be on the way depending <a target="_blank" href="https://l.businessinsider.com/a/click?_t=c8e10479a20f45bba5aad6c5f6fbb009&amp;_m=ZnrNxVqwnFMueGbLncJuAuDabJMBt5oFp&amp;_e=DrjEVSA8twutsmKnFEYiObeUF_ZwpLGnhr0MUKMpsUyA96BruMRfPDrAZ0k9_7XgqLj_1TKZzT-pOrPIn2SECFhd6L0WgreMY3DNnHLgZnHWNRHbspKh2Y2ZdAA-EHB--kTGMeuvr8XPdZdkXRD-vpWGu1GfuYNYvBJtCdxBahYXMGtbY9byj8In6EYhDCQXuifp23eypwwkVIjMgyB10EGd4lQNwqNTsBGWlJdQRNVFywncpSehpNiWc_OoKt-AkAtzpVSUflsNCUX8OjNxDe8g5A_DRIpEqU8hOP3AIOD-l-o7j3OnBiRPO-4_2-JrLmr-v9lcXaZYsOr3FOAWtnPkuSKZbJVfLRGmupgijvEbPGhQe32FZTxU6hdVli7GLuSuZJI8jWqecv4wGE1KhnlZeNtjuLNvyAihi5VBS9c%3D">on the outcome of a Biden administration review</a> of their climate impacts.But the gas could eventually have trouble finding a home in European countries like Germany, which added the most wind and solar capacity of any EU member during the first half of the year. Germany also closed 15 coal power plants in April and imported more nuclear electricity from France.Rosslowe said that Germany's transition away from fossil fuels reflects policy decisions made several years ago. In 2021, the government set more ambitious goals to reduce greenhouse-gas emissions, including phasing out coal by 2030, and changed some permitting rules to speed up the construction of solar and wind projects.Ember's report said that while it's unclear how swiftly fossil-fuel use will drop across Europe, a pipeline of solar and wind projects suggests this tipping point could be permanent.

Russia's war pushed Europe to a tipping point on wind and solar

<keyword id="45008" type="General" weightage="80" keywordseo="tata-power" source="Orion">Tata Power</keyword> CEO and MD Praveer <keyword id="6358012" type="General" weightage="80" keywordseo="sinha" source="Orion">Sinha</keyword> announced a Rs 6,000 crore capital investment by the company in <keyword id="6357961" type="General" weightage="100" keywordseo="odisha" source="Orion">Odisha</keyword>. Speaking at the Make in Odisha Conclave here on Thursday, Sinha said the four power discoms of Odisha, where Tata Power has a majority stake, are committed to Rs 6,000 crore capex investment in the next five years. Sinha said the company will also set up 1,000 electric vehicle (EV) charging points, 1,00,000 solar pumps, microgrids, rooftop and floating <keyword id="6453229" type="General" weightage="20" keywordseo="solar-plants" source="Orion">solar plants</keyword> in the next five years. He welcomed the Odisha government's Renewable Energy Policy 2022 unveiled at the Make In Odisha Conclave here. The Tata Power CEO said the company has been engaged in power distribution across Odisha and is committed to ensure ease-of-doing business through quality power supply. "Tata Power is committed to ensure 'Udyog Ru Pragati' (progress through entrepreneurship) by offering high-quality and affordable power supply to enable a conducive environment for industrial development. Our clean and green energy products and solutions in e-mobility, decentralised generation, agriculture, and demand side management will further ensure an all-round sustainable development of the state," Sinha said. He said Tata Power is also working with Bhubaneswar Smart City Limited (BSCL) in deploying charging infrastructure at multi-level car parking lots and public utilities like hospitals, universities, malls, and at important city hubs. The company is also in early stages to explore the development of green hydrogen hubs in the Paradeep region to meet industrial demands, he said, adding that Tata Power is also working towards the solarization of the agriculture sector in association with the state government. The company has already installed over 700 solar pumps in addition to 1,200 dual pump for community drinking application across the state. It has planned to install 30,000 solar pumps over the next five years, he said. Welcoming the state's new Renewable Energy Policy 2022, Sinha said the incentives provisions like electricity duty waiver, wheeling charge waiver, cross subsidy surcharge waiver, state transmission utility charge waiver are very encouraging. He said Tata Power is working towards the electrification of remote villages by setting up microgrids. A technical feasibility study has been carried out in several villages in the Mayurbhanj District to set up microgrids for transformation of the rural/ tribal economy.

Tata Power to invest Rs 6,000 crore in 5 years Odisha towards EV charging, microgrids and more

<ul class="summary-list"><li>Solar will lead the expansion of new electric generation this year, the EIA wrote on Thursday.</li><li>Utility-scale solar projects will account for 58% of new capacity, a record amount of additions.</li></ul>The solar industry will lead an expansion in electricity generation this year, the US Energy Information Administration wrote in a <a href="https://www.eia.gov/todayinenergy/detail.php?id=61424" target="_blank" rel="noopener">Thursday note</a>.Utility-scale solar projects will account for 58% of added US capacity in 2024, boosting the amount of electric output across the country. An expected 36.4 gigawatts of new utility-scale solar are to be added to the grid this year — a record addition that will nearly double last year's 18.4 GW of installations. Over half of new solar capacity will be added in Texas, California, and Florida. Nevada's Gemini solar project will also provide a significant boost in 2024, as it's anticipated to be the largest solar facility in the US.The agency cited loosening trade and supply chain restrictions as a motivating factor behind solar's rise. Efforts to expand the US solar industry have long been underway, supported by stimulus government initiatives such as the Inflation Reduction Act. To allow manufacturers to expand their domestic base, <a href="https://africa.businessinsider.com/markets/an-overload-of-solar-panels-cut-prices-in-half-last-year-but-not-in-the-us/mvswptv" target="_blank" rel="noopener">tariffs and barriers</a> have previously been applied to Chinese exports in order to insulate American markets. Though not at <a href="https://markets.businessinsider.com/news/stocks/solar-panel-oversupply-price-crash-europe-production-plant-meyer-burger-2024-1">levels seen internationally</a>, solar prices have depreciated in the US thanks to cheap imports from Asian manufacturers, with shipments doubling through August, <a href="https://www.reuters.com/business/energy/us-solar-panel-manufacturing-boom-threatened-by-cheap-imports-2023-11-03/" target="_blank" rel="noopener">Reuters</a> reported last year. It's a trend that has complicated the industry's domestic buildout, previously prompting concern that new factories may not be economical.Electric-generation capacity will also get a helping hand from new battery storage additions in 2024, doubling the existing 15.5 GW currently online.Meanwhile, developers and power plant owners are looking to add 62.8 gigawatts of utility-scale capacity, a 55% increase from 2023. It's the most since 2003, and proof of rising industry activity, the agency wrote.Unlike these sectors, wind additions will slow from record levels seen in 2020 and 2021.

Solar power could drive more than half of new electricity generated in the US this year, EIA says

<ul class="summary-list"><li>Google could one day use nuclear energy to power its AI data centers.</li><li>Google CEO Sundar Pichai said the company is "evaluating technologies like small modular nuclear reactors."</li></ul>If Google CEO Sundar Pichai's hints on Thursday are any indicator, nuclear energy may one day power some of Google's <a target="_blank" href="https://www.businessinsider.com/amazon-google-microsoft-ai-future-data-centers-monopoly-tech-industry-2024-6">energy-hungry AI data centers</a>.<a target="_blank" class="" href="https://www.businessinsider.com/ex-google-manager-made-working-with-manual-for-coworkers-2024-9">Google</a>, Pichai said, is looking for energy sources that not only meet its high energy needs but will also fulfill its goal of generating net-zero emissions.The search giant aims to <a target="_blank" class="" href="https://markets.businessinsider.com/news/stocks/google-s-carbon-emissions-surge-amid-ai-energy-demand-1033526252">achieve net-zero emissions</a> across all of its operations by 2030."It was a very ambitious target and we are still going to be working very ambitiously towards it. Obviously, the trajectory of AI investments has added to the scale of the task needed," Pichai said in an interview with Nikkei Asia published Thursday."We are now looking at additional investments, be it solar, and evaluating technologies like small modular nuclear reactors, etc.," Pichai added, though he didn't specify when and where Google would start sourcing electricity from nuclear power plants.To be sure, this isn't the first time Google has expressed interest in clean energy alternatives like nuclear energy.In September 2023, Google published a blog post and white paper saying that it would "continue to invest significantly" in clean energy technologies like geothermal power and hydrogen.Google isn't the only tech giant considering using nuclear energy to power its data centers.Both its competitors, Amazon and Microsoft, have already announced electricity deals with nuclear power stations.In March, <a target="_blank" class="" href="https://www.businessinsider.com/amazon-could-cut-managers-save-3-billion-analysts-2024-10">Amazon</a> inked a $650 million deal to buy electricity from the Susquehanna nuclear power station, per the Financial Times.Then, in September, <a target="_blank" href="https://www.businessinsider.com/microsoft-plan-double-triple-data-center-capacity-2024-4">Microsoft</a> signed a 20-year deal to purchase energy from Pennsylvania's Three Mile Island nuclear plant, the plant's owner, Constellation Energy, said in a statement.The reactor, which was shut down in 2019, is slated to be restarted in 2028.

Google is considering nuclear power to feed its energy-hungry AI data centers

<ul class="summary-list"><li>Microsoft, Oracle, and Amazon are venturing into nuclear power for data centers.</li><li>Nuclear power is reliable and carbon-free, crucial for AI-driven energy demands and climate goals.</li></ul>Nuclear power's stock is rising thanks to artificial intelligence's insatiable appetite for electricity.Tech giants including Microsoft, Oracle, and Amazon have struck deals in nuclear power this year in hopes of supplying their data centers with carbon-free electricity. The deals have buoyed the confidence of global financial institutions, 14 of which on Monday <a target="_blank" href="https://www.businessinsider.com/nuclear-power-banks-support-boost-output-microsoft-larry-ellison-2024-9">endorsed a goal to triple nuclear energy</a> by 2050. Bank of America and Goldman Sachs are among the signatories.It's a <a target="_blank" class="" href="https://www.businessinsider.com/nuclear-power-diablo-canyon-california-newsom-germany-japan">remarkable shift</a>, given that just five years ago the nuclear plant at Three Mile Island in Pennsylvania shut down in part because it couldn't compete with cheap natural gas. The site was also a symbol of the risks of nuclear energy after one reactor partially melted down in 1979. Now Constellation Energy, the owner of Three Mile Island, <a target="_blank" href="https://www.businessinsider.com/three-mile-island-nuclear-plant-reopens-power-microsoft-ai-push-2024-9">plans to spend $1.6 billion over three years to reopen one reactor</a> that had safely operated for decades. Microsoft agreed to buy the electricity <a target="_blank" href="https://www.businessinsider.com/microsoft-plan-double-triple-data-center-capacity-2024-4">for its growing fleet of data centers</a>."It's only recently that people have come to appreciate the importance of [nuclear power] from a reliability perspective," Kathleen Barrón, executive vice president and chief strategy officer for Constellation, told Semafor during an event at Climate Week in New York City. "But even more so, that there just are no other resources on the grid that can operate when customers need it, consistently, without any air pollution or carbon emissions."All those factors make nuclear attractive to Big Tech companies, which made lofty climate promises but are still generating more emissions as they aggressively invest in electricity-hungry data centers. Earlier this year, <a target="_blank" href="https://l.businessinsider.com/e/evib?_t=c8e10479a20f45bba5aad6c5f6fbb009&amp;_m=0dbc78003e564580b4e87c95698d0e02&amp;_e=8U4bXw3HX8KDYSsPzOolGOCYuGSttGyuSAzwaclc6RLhG88pp5ZvENg7wFUaiGhas0CJQxM0PQO-UKfMbE1JyA%3D%3D">Microsoft reported a 30% spike in carbon emissions</a> between 2020 to 2023, blaming AI and all the carbon-intensive cement, steel, and microchips needed to build data centers. Google reported a nearly 50% increase in emissions since 2019, citing similar drivers.That climate dilemma isn't slowing the AI boom. Microsoft, Amazon, Google, Meta, and Apple are on track to spend a combined <a target="_blank" href="https://l.businessinsider.com/a/click?_t=c8e10479a20f45bba5aad6c5f6fbb009&amp;_m=0dbc78003e564580b4e87c95698d0e02&amp;_e=wWZA5Xoinj0sH2ZX3ugl_OzAKGrCiaQhI0tCdnLiYoGrY2K9XAQ9DXH1nfuXy-AVxR1I2cM5WdV4N__NEHyRgYfxy7pVcK_RoGnlzbfAMw0peO387D2ee0ZCHzEGiY5546lzxSGycKFUCR40aeM1KaciKqift090lKwLtQ-AzllnLeaMvGjH2Szgt7qYcBgSDAgaI_Mdcc7iH_aEDW-Bgh1nvCAEJ7ASTgU-RZ0dP8JOjrfM1r3GFWQ2YdecsSNiiMOGH1mQj_CO9LoLsPhlRawPXj44fGS-XAxiJXAiO3DhIdN0_A7HQjBdVIFETbbhh0ciFuWaBCHhWzClc4RKuys42wiLQFOopc9nCjwKVz5SFVkf_agp-59KZ3ilLlt162SzG2LHLnyVB6tPBRUdSpzM4IhgspSGtjURjCI2Cd8%3D">$200 billion</a> on fixed assets this year, with the majority of that money going toward data centers to support AI, according to a Bernstein research note from earlier this year. In the next five years, that spending could surpass $1 trillion.All the growth risks taxing an already-stressed power grid that uses a lot of dirty natural gas. The pipeline of data centers in places like Virginia and Arizona has <a target="_blank" href="https://www.businessinsider.com/data-centers-energy-demand-utilities-green-renewable-2023-10">already slowed the green energy transition</a>. The Electric Power Research Institute, an energy think tank, forecast that data centers could consume up to 9% of US electricity annually by 2030, compared to an estimated 4% today. And while tech companies are the largest buyers of solar, wind, and battery storage, it still isn't enough to meet the 24/7 needs of data centers.<h2 id="a02dd0e8-7117-4d44-8d2a-36fd9deff1d0">Delayed and over budget</h2>While nuclear power is around the clock, critics warn that it isn't a realistic solution to the data center problem. Hyperscalers need energy now and restarting a mothballed nuclear plant — let alone building new ones — can take years or even a decade. It's also an expensive gamble. Nuclear projects have a track record of going over budget. The most recent new US nuclear plant, built by Georgia Power, <a target="_blank" href="https://apnews.com/article/georgia-nuclear-power-plant-vogtle-rates-costs-75c7a413cda3935dd551be9115e88a64">arrived seven years late and $17 billion over budget</a>.Three Mile Island could run into similar problems, said Tim Judson, executive director of the Nuclear Information and Resource Service, which advocates against nuclear power and for renewables like solar and wind. He noted that the plant needed licensing approvals from the Nuclear Regulatory Commission and that reviving an old reactor that's been idle for five years could prove technically challenging.Barrón of Constellation Energy acknowledged that even with new federal tax breaks for nuclear energy, Three Mile Island wouldn't be economical to run without Microsoft, which agreed to pay a premium for electricity. Restarting the plant requires NRC approval following a safety and environmental review, as well as permits from state and local agencies. Constellation Energy said it will pursue a separate license renewal that extends operations to at least 2054.Judson is also concerned that Constellation Energy is talking to a regional grid operator, PJM, about putting the nuclear plant in front of a long queue of solar, wind, and battery storage projects waiting to be connected to the grid. He argued there'd be no need for a nuclear revival if renewable projects cleared those roadblocks faster.Nuclear's supporters disagree, including Arshad Mansoor, president and CEO of the Electric Power Research Institute. He told BI that no amount of renewables and battery storage will be enough to bring the economy to net-zero emissions. Data centers aren't the only driver of power demand. Electric vehicles and new manufacturing plants need electricity, too.Mansoor thinks the AI boom will actually accelerate a greener economy, noting that tech companies sparked greater deployment of wind and solar power."Now they've created a second spark, and it will not just be nuclear," Mansoor said.He predicted greater buy-in for geothermal, long-duration battery storage, and carbon capture and storage at gas plants — many more of which will be built in the coming years, Mansoor said.He also echoed what many tech executives said when defending AI's energy consumption: It will reduce emissions in the long run, such as by helping utilities manage the grid more efficiently and deploy renewables at peak demand times.However, it still isn't clear whether such benefits can offset soaring emissions.

You Searched For "Solar power plant" and got 13 results

FM cuts customs duty on minerals critical for energy transition

PTI

Big Tech goes nuclear: Amazon's pitch to use power plants shows the crucial role the energy source plays for AI

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An AI-powered robot is helping install Amazon's largest solar farm

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Homeowners are getting paid up to $10,500 a year to create 'virtual power plants' to help out stressed grids

Catherine Boudreau

Germany's government is making life more difficult for solar farms that it often has to subsidize

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Adani to supply clean energy for Google's cloud operations in India

PTI

Climate Action 15: 2024's top global innovators powering green solutions

Insider Inc.

Russia's war pushed Europe to a tipping point on wind and solar

Catherine Boudreau

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