Welcome back to Energy Source, the newsletter that brings you the latest news and insights on the clean energy revolution. Today, we’re reporting from rural Wisconsin, where we’re working on a film about the challenges of building power lines in the US. This uphill battle is putting the clean energy goals of President Joe Biden at risk.
One project in particular, the Cardinal-Hickory Creek power line, has faced numerous legal challenges and cost escalations since its proposal over a decade ago. If completed, this 102-mile line would enable over 100 renewable projects to come online. However, the difficulties faced by Cardinal-Hickory Creek highlight a larger issue: the struggle to construct power lines necessary for transmitting electricity from remote wind and solar facilities to consumers.
In another story, our expert Myles explores the role of clean energy in President Biden’s re-election campaign. Clean energy is not only about reducing emissions and combating climate change, but also about creating jobs and boosting the economy. Biden understands the transformative impact of his climate legislation, and he is emphasizing the economic benefits it brings.
We also delve into the recent surge in natural gas prices, which reminds us that supply disruptions can still greatly impact markets. This serves as a reminder of the volatility the energy industry faces, even as clean energy becomes increasingly prominent.
Additionally, we recommend a must-read series by the Financial Times on how the transition to renewables is reshaping the economics and geopolitics of energy. The first installment explores how countries producing essential metals for the clean energy transition want to redefine extraction rules. The second installment sheds light on China’s dominance in clean energy technology.
Thank you for reading. Sign up for our newsletter to receive it directly in your inbox every Tuesday and Thursday – Amanda.
The Challenges Hindering Clean Energy Growth in the US
The transition to clean energy in the US is facing a significant obstacle: the difficulty of building power lines. Cardinal-Hickory Creek, a 102-mile transmission line in the Midwest, serves as a prime example. Despite its potential to bring over 100 renewable projects online, the line has been mired in legal disputes and cost escalations for over a decade.
One of the main issues is whether the line can be built across a wildlife refuge and the Driftless area. While this dispute revolves around just 1.3 miles of the line, the fate of around 17GW of clean energy hangs in the balance. A recent court ruling in favor of the line’s construction was met with opposition from local residents and environmental groups who are concerned about the visual impact and potential disruption of the protected local habitat.
The protracted battle over Cardinal-Hickory Creek has not only slowed the decarbonization of the grid but also increased the project’s estimated cost by nearly 20%. The cost burden ultimately falls on utility customers. Beth Soholt, executive director of the Clean Grid Alliance, emphasizes that building the necessary infrastructure is crucial for achieving a clean energy future.
This story reflects the challenges faced by clean energy expansion throughout the country. Conservative communities often resist the land developments required for an electrified future, and outdated regulations hinder project implementation. Roughly 575 wind and solar projects have been rejected in the US so far this year, underscoring the urgent need for transmission infrastructure to support America’s net-zero ambitions.
President Biden’s Clean Energy Pitch: Jobs, Jobs, Jobs
As President Joe Biden embarks on his re-election campaign, clean energy jobs will be a key focus. Biden recognizes that linking climate action to job creation is crucial to gaining public support for his climate legislation. During a visit to a wind tower factory in New Mexico, the president emphasized that the transition to clean energy means not only moving away from fossil fuels but also revitalizing domestic manufacturing and creating new technologies in America.
Biden highlighted the economic opportunities that the Infrastructure Investment and Jobs Act (IRA) brings to various regions, even Republican-leaning districts. Despite facing opposition from Republicans, Biden emphasized that these opponents are still welcoming the economic benefits the IRA is delivering to their states. The president’s clean energy message is strategically tied to job creation and economic growth, aiming to address concerns about his handling of the economy and high inflation.
The Surge in Natural Gas Prices Reveals Supply Disruption Risks
Yesterday, natural gas prices experienced a surge worldwide due to concerns about potential disruptions in liquefied natural gas (LNG) supply from Australia. Reports of strike action at some plants fueled uncertainties in the market, driving the benchmark TTF price in Europe to rise by 40% to $43.31.
This price surge serves as a reminder that supply disruptions can significantly impact energy markets, even as the transition to clean energy progresses. It highlights the volatility that the energy industry continues to face, even with the growing prominence of renewables.
In Conclusion
The challenges of building power lines pose a significant threat to the clean energy revolution in the US. Cardinal-Hickory Creek exemplifies the uphill battle faced in constructing essential infrastructure for transmitting electricity from remote renewable projects to consumers. President Biden’s clean energy pitch focuses on the economic benefits and job creation potential of his climate legislation, aiming to garner public support for his re-election. The recent surge in natural gas prices serves as a reminder of the continuing volatility in energy markets, underscoring the need for a resilient and diversified energy system.
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