By Matt Lucas, PhD; Managing Director, Business Development

At New Energy Risk (NER), we cheered the recent announcement that clean energy leader and icon Jigar Shah would be leading the DOE’s Loan Programs Office (LPO). We share his goal of seeing the office streamlined to maximize its effectiveness. We have interacted with both DOE and USDA loan guarantee programs for multiple years and have first-hand experience: One of my colleagues led his former company’s successful LPO application process.

Given the need to deploy hundreds of billions of dollars to meet climate mitigation goals, create post-pandemic jobs, and commercialize frontier technologies…

By Brentan Alexander, PhD; Chief Science Officer & Chief Commercial Officer

A protracted legal and political fight that has pitted two pillars of the Republican base against each other reached its apex last week as the Supreme Court heard arguments in HollyFrontier Cheyenne Refining, LLC v. Renewable Fuels Association. At issue is the authority of the US Environmental Protection Agency (EPA) to provide relief to refiners under the Renewable Fuel Standard (RFS), which mandates blending requirements in the domestic fuel supply for biofuels, primarily corn-ethanol. Refiners argue that EPA’s authority (including to offer waivers) is broad, while the farm lobby…

By Brentan Alexander, PhD; Chief Science Officer & Chief Commercial Officer

Earth Day 2021 saw the release of major climate announcements from players seemingly on opposite sides of the greenhouse gas debate. President Biden took the stage at the Leaders Summit on Climate to pledge a net-zero US economy by 2050. Meanwhile, ExxonMobil published a detailed call to action for wide-scale carbon capture investment with a first focus on the Houston, Texas area. Carbon capture is required to reach the ambitious goals laid out by Biden, and petrochemical majors will most likely be involved. So finding a place for these…

Blackouts in Texas and California Teach a Hard Lesson: Climate Change Is Costly

By Brentan Alexander, PhD; Chief Science Officer & Chief Commercial Officer

A record-setting polar vortex, which brought intense cold to a majority of Americans, has led to massive blackouts in Texas; significant amounts of energy generating capacity have been knocked offline. The Texas grid operator, the Electric Reliability Council of Texas (ERCOT), announced early Monday morning the need for short-duration rolling blackouts across the Texas grid to balance demand with available supply. Within hours, those short duration blackouts had morphed into massive outages impacting more than four million residents for hours on end. As of last week, millions from Houston…

By Matt Lucas, PhD; Managing Director, Business Development

I’m excited about carbon capture technology; it’s critical for decarbonizing hard-to-electrify industrial infrastructure and other facilities whose emissions are challenging to mitigate. So, like many others, I’ve been waiting for the IRS to release its final carbon capture regulations on 45Q, the federal tax credit.

After nearly three years of anticipation, we finally have both the regulations and the IRS’s commentary. As then-Treasury Secretary Mnuchin said, “These final regulations provide taxpayers and the American energy sector with needed clarity on utilizing the section 45Q credit.” Finally!

For carbon capture to continue to…

We are inspired by people who are passionate about insurance and technology that solves pressing global challenges. In this interview series, our chief actuary, Sherry Huang, talks with friends of New Energy Risk whose work makes a difference, and whose journeys will inspire you, too.

A Conversation with Kara Owens, Global Executive Underwriting Officer — Cyber & ESG, Markel

By Sherry Huang, Chief Actuary
This interview has been lightly edited for clarity

“You should meet Kara Owens,” my reinsurance broker friend suggested to me last summer. “She is a cyber risk underwriting executive and is heavily involved with Markel’s ESG initiatives.” I had mentioned to him that NER is refocusing on our own ESG…

$100 Million from Elon Musk Won’t Enable Carbon Capture

By Brentan Alexander, PhD; Chief Science Officer & Chief Commercial Officer

Last Thursday, Elon Musk announced (in well under 140 characters) his intention to donate $100 million to the “best” carbon capture technology, chosen through a competition whose details and judging criteria are yet to be announced. Musk promised further details next week. The problems holding back the mass deployment of carbon capture technology are primarily economic. As such, funding for research and development of carbon capture technologies is most welcome, and Musk’s donation will surely lead to technological advances. …

What to do with all these wood chips?

One Small Step for Torrefaction, One Giant Leap for the Bioeconomy

Commissioning of the US’s first commercial torrefaction facility is a milestone in its own right, and a potential game-changer for the bioeconomy’s inroads against fossil fuels

By Matt Lucas, PhD, Managing Director, Business Development

Moonshine: It might not sound synonymous with the bioeconomy, but at a massive scale, the fermentation of traditional sugar to create ethanol was where the bioeconomy got its start. Leaving behind tasty feedstocks and inebriating bioproducts until happy hour, today we see that the bioeconomy includes a growing and wide variety of feedstocks, processing technologies, and products. …

By Brentan Alexander, PhD; Chief Science Officer & Chief Commercial Officer

Reports surfaced recently that President Trump had directed the U.S. Environmental Protection Agency (EPA) to reject a series of applications for biofuel waivers submitted by U.S. oil refiners, and on Monday the EPA confirmed the action. The move is the latest, and likely last, development in a major drama that has pitted traditionally red constituencies against each other, with farm states battling against big oil. …

By Brentan Alexander, PhD; Chief Science Officer & Chief Commercial Officer

A much-hyped petition to the Federal Energy Regulatory Commission (FERC), which sought to end net metering on customer-side rooftop solar energy in the United States, was put to an unceremonious end last week. FERC commissioners unanimously voted to dismiss the petition. Submitted in April by a secretive group calling themselves the New England Ratepayers Association (NERA), the petition across the solar industry, with some actively questioning whether FERC’s response to the petition would be a fait accompli.

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