The U.S natural gas markets have been constrained by increases in LNG exports, reduced gas production and storage, and returns to pre-covid levels of demand. Natural Gas prices have risen from the $3 level to $5, and in the New England area natural gas prices are big determinants of electricity prices. Given this recent constraint….
Utilities Look to Mini Nuclear Reactors
As the climate crisis accelerates, utilities in the U.S are looking to acquire miniature nuclear reactors called SMRs (Small Modular Reactors) to secure a reliable energy source and lower emissions associated to climate change. Over the past decade companies have stopped building nuclear due to rising costs of maintenance and delays. Some utilities interested in….
Winter 2021 Henry Hub Prices Rising
Today the Henry Hub Natural gas futures increased around 1.7% to $3.94/mbtu due to increased demand in regional and global gas markets, also led by higher temperatures in Western, Midwestern, and Southern U.S. Expected temperatures from the 90 – 100F this coming week are expected to result in a strong demand for natural gas. Additional….
Early Winter 2021 – 2022 and Natural Gas Forecasts
The most recent forecasts for the 2021 Winter Season point to above average amounts of late-season snowfalls and below average temperatures. As natural gas prices climb to their highest since 2018, it will be very important to see how these conditions turn out. Given existing constraints in the natural gas market at this time a….
MA Cranberry Farmers Go Solar
Cranberry farmers in Massachusetts are pushing solar developments by mounting solar panels over cranberry bogs to increase sustainability and revenues. The first of these in Massachusetts are expected to be completed in the remaining year in the town of Carver. It is a $53M project with 9MW of solar capacity being developed by Pine Gate….
First Big U.S Offshore Wind Farm Approved by Biden Administration
The $2.8B – 800 MW offshore wind power project by Vineyard Wind is to become the first largescale wind farm in the U.S coast as it was approved by the Biden administration last Tuesday. Generally, projects of this type face a large amount of pushback from communities and become delayed. This event has been praised….
Divisive Clean Energy Future in New England Area
Divisive Clean Energy Future in New England Area Over the past years there has been a fight over the building of an AVANGRID power line bringing hydroelectric energy from Quebec to the New England area. The project is estimated to cost $1B, and last week was hit with a referendum that would kill the project….
Elon Musk Offers $100M Prize for Carbon-Capture Challenge
Elon Musk unveiled a $100M prize pool for the Carbon Removal XPrize challenge for companies to design and build carbon capture technologies. More specifically, the goal is for teams to construct a project that makes a meaningful difference in removing carbon from the atmosphere, instead of just neutralizing it to slow global warming. Solutions with this specific….
Baker-Polito Administration Releases Roadmap to Net-Zero Emissions by 2050
Recently, the Baker Administration released a draft of the roadmap to achieve zero emissions by 2050, part of which includes the 2030 Clean Energy and Climate Plan (CECP). This plan establishes carbon reduction goals of 45% by 2030. We are currently at 22%, meaning this plan will require the building of more renewables and the….
Residential Electricity Use Increases Due to More Work from Home
As companies ask their employees to work from home more, residential energy usage is on the rise. In comparison to 2016-2019, residential electricity usage in 2020 has increased by 10%, commercial electricity usage has decreased by 12%, and industrial electricity usage has decreased by 14%. Particularly, this has been the case in the most densely….
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