Here is our weekly roundup of Renewable Energy news we’re reading this week:
Articles We’re Reading
Lordstown Expected to Cease Production of Endurance Truck
Lordstown is struggling financially and ramping up production of electric vehicles is extremely difficult and cash intensive. Key Takeaway: If they are unable to negotiate a deal with Foxconn or another investor, Lordstown will go bankrupt in the near future.
Jigar Shah – the $400 Billion Dollar Man
Mr. Shah is the Director of Loan Programs Office at the U.S. Department of Energy – He was successful in the renewable energy private sector and now he is attempting to streamline the process to encourage financing and loan opportunities for clean technology initiatives that need a lot of capital to scale. Key Takeaway: The Biden Administration has enabled a new-age gold rush for renewable energy projects through the Inflation Reduction Act, organizations should apply for it, before it runs out or disappears.
Reshoring solar manufacturing would be a huge climate win, study finds
Key Takeaway: Solar generation is going to increase and the U.S. can compound the environmental benefits by manufacturing these parts locally.
Texas proposes tightened renewable energy permits: An Industry Reacts
Even though Texas has been a leader in the installation of wind and solar power, the legislature wants to slow down this progress. Key Takeaway: Special interests from the Oil and Gas lobby still have a strong hold over the government in Texas. Ultimately, renewable energy adoption will continue throughout the U.S. it might just slow down in Texas.
Videos We’re Watching
Tesla will be refining lithium in Texas at this new plant. As the U.S. begins to encourage more domestic manufacturing, lithium refining will be critical in the production of batteries for energy storage and electric vehicles. Key Takeaway: Tesla continues their efforts to become vertically intergrated by producing every part and process of their supply chain.