Tops Jobs + Trends To Watch
Energy Terminal Weekly Newsletter
March 7th 2023 | Issue #42 | Subscribe here
Happy Tuesday!
Welcome back to ET weekly, Energy Terminal's weekly newsletter where we cover trends, opportunities, events and updates across the energy industry.
In this issue:
👀 a FOAK fund
💥 New coal plants in China
💲Divide over a new low-income tax credit
📈 2022's climbing emissions
⚛️ Hydrogen's moment
🚨 Top 3 Energy Jobs 🚨
1) Energize Ventures, MBA Associate Intern
• Energize Ventures is a leading climate software investor focused on scaling sustainable innovation. This position will help the team with market deep dives, investment sprints, and other strategic initiatives.
2) Constellation Energy, Power Intern
• Constellation Energy is the US's largest producer of clean, carbon-free energy. Interns will work hybrid and/or onsite for our Hydroelectric, Wind, Solar, and Gas Power Plants located in multiple locations
3) Antora Energy, Summer Intern - Thermal Engineer
• Antora Energy is electrifying heavy industry with zero-carbon heat and power. This intern will help conduct experiments and basic numerical modeling, as well as help commission new experimental test beds for Antora Energy's System Engineering Team.
📣 Episode 24
From blizzards in Alaska to drilling on a golf course in Los Angeles, Collin McClelland has seen it all when it comes to the oil and gas industry.
Collin entered the industry right out of high school when he started drilling wells in the Permian Basin in south Texas. Over 8 years in the industry, Collin learned the ins and outs of oil & gas drilling, working in every major oil field in the country. He got started in social media by building an Instagram account to over 300k followers and founded Digital Wildcatters in 2018 to change the status quo of the energy industry and to raise energy IQ.
📚 Reading List (3/06- 3/13)
Increased renewable usage?! New coal plants! Check out this week’s handpicked reading list to learn more about these groundbreaking energy topics 🔥
🎙️Podcasts:
Catalyst, 2023 trends: biomass, ESG, batteries, and more
Shayle Kann and Nat Bullard discuss the top trends to watch in 2023
40% of U.S. corn production goes to ethanol, which offsets about 100% of U.S. gasoline demand
Anti-ESG developments dominated the news despite a shift in assets toward ESG investments
For the first time, battery costs rose this year rather than dropping, but this didn’t seem to affect the demand for battery storage
Climate One, Has Hydrogen’s Moment Finally Arrived?
Most hydrogen is made by splitting methane, which produces CO2, but a process called “blue” hydrogen can capture and store the emissions from this process
Electrolysis, which splits hydrogen and oxygen from water, can make “green” hydrogen if the power used doesn’t produce emissions, but this process is energy intensive and often expensive, so it’s difficult to make large quantities of green hydrogen with the current infrastructure
However, as clean hydrogen infrastructure improves, it will become more widespread, which will affect global energy politics
Countries like Russia wouldn’t have the same level of power over fuel because fuel producers would be distributed around the world
There are still numerous challenges with hydrogen that need to be addressed, but new US tax incentives coupled with increased research and funding has made hydrogen a much more appealing renewable fuel source
Politico Energy, The solar industry divide over Treasury’s low-income tax guidelines
The treasury department released initial guidance on a program to expand solar and wind power into low-income communities
It's a bonus tax credit
The eligibility requirement and application process components of this program are causing the solar industry concern
Currently, the way these guidelines are written will prevent rooftop solar from being able to access these credits
Projects that aren’t viable without these credits may be placed on hold until next year, if they don’t become canceled, defeating a large purpose of the program
📰️ Articles:
CNN Business, China approved equivalent of two new coal plants a week in 2022, report finds
China promised to decrease carbon usage, but in 2022, they approved the highest number of new coal plants since 2015, making them the exception to the world’s general decrease in coal usage
During 2022, they granted permits for 106 gigawatts of capacity across 82 sites which is equal to starting two large coal plants each week
While they are adding significant solar and wind capacity, the current rate of increase isn’t enough to supply all of the demand growth without also increasing fossil fuel usage
China has a promise to be carbon neutral by 2060, but many argue that the government isn’t taking enough action for this to happen
Etech Monkey, The case for a FOAK fund for climatetech
FOAK (First-of-a-Kind) technologies, also known as emerging or disruptive technologies, have the potential for significant growth and impact on the market, but they also carry higher risks than established technologies.
A FOAK-focused fund could be a beneficial investment opportunity for investors who are willing to take on higher risks in exchange for the potential of higher returns
Investing in a FOAK-focused fund can be a diversification strategy, as it provides exposure to new and innovative technologies and companies that may not be available in traditional investment options
The Wall Street Journal, Carbon Emissions Climbed Less Than Feared in 2022 Despite Coal Resurgence
CO2 emissions climbed < 1%, 321 million tons, in 2022
This is the highest total emissions ever, however the global energy crisis caused a coal resurgence which was supposed to raise emissions even higher
Renewables are to thank for the reduction in predicted emissions
New renewables projects have successfully prevented 550 million tons of C02 emissions
Natural gas became expensive due to invasion of Ukraine, so natural gas emissions fell by 1.6%, but coal and oil emissions grew by 1.6% and 2.5%, respectively
⏰ Missed Episode 23?
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