The Inflation Reduction Act
Energy Terminal Weekly Newsletter
August 18th 2022 | Issue #19 | Subscribe here
Happy Thursday!
Welcome to the ET weekly, a platform dedicated to building the next generation of energy leaders. In this week's issue we cover:
📋The Inflation Reduction Act (IRA) of 2022 !!!
😡 Energy Bill Crisis in the UK
🔋 Electric Cargo Boats?!
📊 The Venture Capital (VC) Market
💥The change to come from the IRA
🌟 Startup Spotlight: Fleetzero
This startup is designing electric cargo ships that can cross the ocean, without a "green" premium.
🚨EPISODE 13 OUT NOW🚨
In Episode 13, Hope and Michael are joined by Bob Irvin, Executive Director of Joules Accelerator, which helps the top cleantech startups commercialize and deploy impactful technology. After a career in utilities at Duke Energy and TVA, Bob was brought to Joules to revamp their program. In the years since, Joules has helped more than 80 top cleantech startups grow and scale. In the episode, we cover some of Joules’s success stories, what makes great startups successful, and current trends and topics in the energy venture capital market.
Episodes released bimonthly, subscribe to stay updated!
👨🎓Student Spotlight
Aryan Kothari: Alga Biosciences
Welcome to our second student spotlight! This week, we’re highlighting Aryan Kothari: a rising sophomore studying Computer Science and Environmental Science at Duke University and the newest member of the Energy Terminal team! Alongside working with us at ET, Aryan is interning with Alga Bioscience, a startup using algae to reduce agricultural methane emissions. Read on to find out more about Aryan and his internship this summer.
Aryan, thanks for joining our second student spotlight! Before we get into your internship this summer, it would be great to highlight some of the work you’ve been doing with us at Energy Terminal the past couple months.
I joined Energy Terminal at the start of the summer as an outreach and marketing intern. Under this position, I’ve developed a long-term marketing plan for the company, executed short-term deliverables for growth, and assisted Michael and Hope, founders of the podcast, through the production of episodes that we’ve hosted with different leaders in the energy space. Being part of the team has been such an incredible experience and I’m so excited to continue following its growth!
It’s been fantastic having you on the team. Now let’s hear more about your “day-internship” at Alga Biosciences. Can you tell us more about what the company does?
Absolutely! Alga Biosciences is an ag-tech startup based in Berkeley that uses a kelp-based additive to eliminate enteric methane production by ruminant animals. With over a billion cows in the world, methane produced by ruminants is responsible for 7% for all greenhouse gasses (GHG). Our feed additive blocks methanogenesis from occurring in the rumen, a part of the ruminant’s stomach, and instead redirects that energy into more milk production and weight for the cows.
To read the rest of Aryan's interview head here !
📚 Reading List (8/08 - 8/15)
Energy Bill Crisis? Energy Brokering? What does the IRA mean for the climate? Check out this week’s handpicked reading list to learn more about these groundbreaking energy topics 🔥
🎙️Podcasts:
Energy Trilemma, How can we create a sustainable, secure, and affordable energy future?
Summary 📖 :
The importance of balancing energy security and affordability with decarbonization
Attacking the most emissions-intensive areas for decarbonization
How bp and other companies aim to leverage their experience to maintain energy security and affordability while decarbonizing
Catalyst, What the Inflation Reduction Act of 2022 would mean for climatetech
Summary 📖 :
The Inflation Reduction Act of 2022 will significantly drive down the price of clean energy
With clean energy cheaper, executives and state and government officials will most likely make more ambitious clean energy goals
Additionally, by lowering cost of clean energy in the US, the cost of clean energy worldwide will likely decline
The Interchange, A New Way of Procuring Energy
Summary 📖 :
As things stand, energy brokering is a fragmented and antiquated industry
Zentility is an end-to-end energy procurement platform that builds digital tools for energy suppliers, energy buyers, and business buying energy products
The company provides a platform for customers to transparently buy electricity, natural gas, and renewables through a digital interface
📰️ Articles:
Canary Media, ‘This is HUGE!’ Major climate legislation will soon become law
Summary 📖 :
On Friday, August 12th, the Inflation Reduction Act (IRA) was passed by the House after being passed by the Senate earlier last week
The bill provides for $369 billion to be invested in energy storage, solar, home electrification, aviation decarbonization, electric mail trucks, manufacturing, and environmental justice
Alongside climate provisions, the bill also aims to reduce prescription drug prices
BBC, Energy bill crisis is on scale of pandemic
Summary 📖 :
Many people are falling behind on their energy bills, with over a quarter households owing £206 on average
Bills can rise much sharply, almost double, by January to a cost of £355 a month
Ministers are set to hold talks with energy giants on Thursday to discuss measures to ease the cost of living
The Washington Post, Massachusetts just passed a massive climate and clean energy bill
Summary 📖 :
Bill allows 10 MA municipalities to ban fossil fuel infrastructure
This bill becoming law in MA means people of all political backgrounds can unite over the need to combat climate change
Bill includes other huge climate policies like EV incentives, a ban on new gas/diesel vehicles being sold past 2035, funding for electricity grid improvements and offshore wind energy, and natural gas provisions
And head here to check out previous reading lists !
☄️ Thanks for reading this edition of ET weekly!
New episodes will be out soon, get excited. And, if you missed Episode 12 listen here!
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And a big thank you to our sponsor Energy Dialogues for making this all possible!