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Electric grids do not change overnight. Power plants and other infrastructure are multi-decade investments, and it’s rare to retire them early. So, it’s a bit painful to watch how slowly they have been getting cleaned up. Even with the majority of new power plants being renewable energy power plants, the percentage of electricity coming from renewables only creeps up.

That can make 100% renewable energy or 100% clean electricity commitments seem car too far out, far too slow. A potential new requirement for utilities in the state of Oregon is one such example. If it gets through the state legislature, it will be one of the most aggressive timelines in the United States. However, it still gives the utilities nearly 20 years to fully decarbonize. Yes, 100% clean electricity by 2040 is ambitious when compared to other laws around the States. However, when looking at how much we need to cut emissions by 2040, that should be more of an average or norm than a leadership position. Nonetheless, in political context, it is something to celebrate.

Additionally, the bill as it is currently written requires that electric companies such as Portland General Electric and Pacific Power (the state’s two largest utilities) cut their carbon emissions 80% by 2030. An 80% reduction in emissions from a baseline level in just about a decade is a pretty aggressive transition for this sector. What is the baseline year, you ask? That’s actually not in the legislation. Not seeing it reported, I dug up the bill (Oregon House Bill 2021) and found this instead of a specific starting point: “Requires DEQ to determine each electric company’s baseline emissions level and, for each retail electricity provider, the amount of emissions reduction necessary to meet the established clean energy targets in the state policy.” Knowing how much these kind of things can be corrupted, I’m not thrilled to see a lack of clarity on this. However, I expect the state’s Department of Environmental Quality (DEQ) would be just about the best outfit to come up with the baseline. I hope.

Back to the state’s potential new requirement, reporting out of Oregon indicates that the legislation is likely to be passed this year. “Everyone OPB interviewed for this story suggested the bill is likely to pass this year, marking a significant milestone in Oregon’s energy policy — even if it’s one other states got to first.” It apparently has 100% opposition from Republicans in the state legislature, but Republicans don’t rule the show there. Its likelihood of passing is reportedly high despite a cap-&-trade bill dying last year as Republicans walked out of session early in order to kill it. This new bill is much narrower. Furthermore, it seems to have the support of the electric utility companies (which is something I find indicative of a not particularly aggressive legislative attempt, but I won’t get into all kinds of speculation or insinuation regarding that).

One line that rather annoyed me in the OPB reporting on the story is the following quote from Sunny Radcliffe, director of governmental affairs and energy policy at PGE, regarding getting to 100% clean electricity: “There is a lack of clarity for how we as an industry are going to get the last bits out,” Radcliffe said. “I don’t know anybody in our industry who knows how to get to zero with the technology we have today.”

I don’t know how Radcliffe doesn’t know anyone in the industry who can see how to get to 100% renewable electricity. After all, some places are already there (including places larger than Oregon), and there are these newfangled things called batteries that some people in the industry must have heard of. Also, by the way, a 2015 analysis out of Stanford showing how Oregon could get to 100% renewable electricity was referenced in the OPB article. In fact, I discovered the Oregon news because the lead author of that paper, Mark Z. Jacobson, tweeted out the story.

Anyway, let’s not harp on one quote from an industry player. Yes, we know how Oregon could get to 100% renewable electricity by 2040 — no worries.

There is plenty of good history and context on the Oregon bill over in that OPB article, so I recommend checking it out if you are curious to learn more. It’s one of the best pieces of local journalism I’ve seen on the topic of state renewable energy. The only major thing I’d change is that I’d point out what I just pointed out above. Though, the writer, Dirk VanderHart, did highlight the Stanford study in the article a bit before including that confusing quote from Radcliffe, so let’s just say that VanderHart slipped in the counterpoint preemptively and less offensively than I just did.

The article also points out key areas where the legislative shift from a cap-and-trade bill to this clean-electricity bill is evidence of somewhat deflated ambition. “Even if successful, the proposal only addresses a segment of the state’s carbon dioxide output.

“According to the DEQ, emissions from electricity accounted for 30% of the state’s greenhouse gas emissions in 2019. The entities regulated under HB 2021 are responsible for the vast majority of that, but some providers are left untouched.

“Several dozen small consumer-owned utilities around the state are not impacted by the bill. Nor is Idaho Power, the state’s smallest investor-owned utility, which was removed from HB 2021 after pressing for an exemption and touting its own decarbonization goals.”

I am certainly of the opinion that we need strong legislation to adequately deal with the climate catastrophe we are inviting upon ourselves. Though, in the case of stories like this, I am typically inspired to point out that we can each take individual action with or without such legislation. We can install record-cheap solar power on our roofs (well, some of us can) and we can switch to electric cars. In fact, the largest electric car seller in the country (by far) is also the second largest solar installer in the country and, seemingly, the one offering the cheapest solar, so you can quickly and easily go solar and go electric at the same time via a simple online store. So, whether Sunny Radcliffe knows how the whole state could run on renewables by 2040, Sunny could be driving on sunshine himself within a matter of months if he wanted to.

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A 350-mile electricity transmission line in Nevada is now approved

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A 350-mile electricity transmission line in Nevada is now approved

The massive Greenlink West Transmission Project in Nevada got the final green light this week by the US Department of the Interior.

The project will create a new 525 kV transmission line that will stretch 350 miles from Las Vegas to Yerington, southwest of Reno, and greatly increase Nevada’s grid capacity. It will cross federal, state, Tribal, and private lands in seven counties.

Once completed, utility NV Energy’s Greenlink West will be able to carry up to 4,000 megawatts (MW) of clean energy – enough to power over 4.8 million homes. Greenlink West is a critical part of Nevada’s push to ramp up renewable energy production and modernize its aging power grid.

Construction is expected to begin early next year, and the goal is to bring it online by May 2027.

Currently, a lot of the solar, geothermal, and wind energy generated in rural parts of the state can’t be efficiently sent to cities like Las Vegas and Reno, where demand is high. Greenlink West will fix that by connecting clean energy sources to urban centers.

Along with the 210-mile-long, 525 kV Greenlink North, which will span from Ely to Yerington and is still under environmental review, the two lines will tie into the existing One Nevada Transmission Line. The entire $4.24 billion transmission project, which is expected to generate $690 million in economic activity and create nearly 4,000 good-paying jobs, will result in a continuous triangle of high-voltage transmission lines in the state, as per the video below:

The project will also include three 345 kV lines from Yerington to the Reno area.

Greenlink North is expected to be in service by December 2028.

Read more: US electricity demand is about to surge – here’s what needs to happen


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MicroStrategy stock pops 8% after company ups bitcoin holdings to $14.6 billion

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MicroStrategy stock pops 8% after company ups bitcoin holdings to .6 billion

MicroStrategy founder Michael Saylor speaks at the Bitcoin 2021 Conference in Miami on June 4, 2021.

CFOTO | Nurphoto | Getty Images

MicroStrategy shares jumped more than 8% on Friday after founder Michael Saylor said the company purchased another $1.1 billion worth of bitcoin.

The stock jumped 24% for the week and is now up 124% this year.

Saylor said in a post on social media platform X that MicroStrategy’s average purchase price in the four years it has been buying bitcoin is $38,585 per coin. Bitcoin is currently trading at close to $60,000.

MicroStrategy’s stash of 244,800 bitcoins is worth $14.6 billion.

Founded in 1989, MicroStategy has a business in enterprise software and cloud-based services, but its value is now almost entirely tied to its bitcoin ownership, effectively making the company a proxy for the world’s biggest cryptocurrency. It is the biggest corporate holder of the asset, according to Bitcoin Treasuries.

Read more about tech and crypto from CNBC Pro

In Saylor’s Friday post, he added that the “BTC yield,” a metric introduced by MicroStrategy, is 17% for the year. The number suggests that the company has created 17% more value for shareholders by selling stock to buy bitcoin.

“We’re basically giving people different types of bitcoin exposure,” Saylor told CNBC in an interview this week. “MicroStrategy’s mission is to securitize bitcoin and serve as the institutional bridge between traditional, mainstream investors and bitcoin.”

Even after this week’s rally, MicroStrategy shares are about 26% off their March high. The stock closed Friday at $141.47.

But MicroStrategy is far outperforming bitcoin, which is up 35% for the year. Saylor said owning MicroStrategy is a way to invest in bitcoin but with a variety of attributes, such as increased leverage or downside protection.

“A lot of people, they don’t want to own or they can’t own bitcoin,” Saylor said. Some would say, “Give me the volatility of the S&P and half of the performance of bitcoin, and I’d be totally happy,” he said.

Don’t miss these insights from CNBC PRO

MicroStrategy's Michael Saylor predicts bitcoin could hit $13 million by 2045: CNBC Crypto World

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Here are the EVs you can lease for under $300 a month this September [Updated]

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Here are the EVs you can lease for under $300 a month this September [Updated]

With more options than ever, driving an electric vehicle has never been more affordable. As new EVs hit the market, the lease deals are heating up. Here are all the EVs you can lease for under $300 a month this September.

A record 330,463 electric vehicles were sold in the US in the second quarter. According to Kelley Blue Book, EVs accounted for 8% of total new vehicle sales in Q2, up from 7.1% in the first three months of 2024.

The growth was driven by the influx of new models, massive discounts, and higher leasing rates. A big factor behind leasing is the ability to pass on the $7,500 federal tax credit to lessees.

Most automakers are slapping the $7,500 on top of additional incentives like lease bonus cash, conquest, and loyalty offers. In total, the savings amount to over $10,000 in many cases.

According to Motor Intelligence, Kia’s new three-row EV9 SUV sold with an average discount of over $19,700 in July. The Honda Prologue and Volkswagen sold with an average discount of $7,035 and $13,015, respectively.

EVs-lease-September
Kia EV9 GT-Line (Source: Kia)

EVs you can lease for under $300 a month in September

As the discounts continue to pile up, several EVs are available to lease for under $300, even $200 a month this September. According to an analysis from online auto research firm CarsDirect, here are some of the best electric vehicle lease deals this month (find deals in your area at the bottom).

For smaller (subcompact) SUVs, the 2024 Kia Niro Wind EV is listed at $169 for 24 months. With $3,999 due at signing, it has an effective cost of $336 per month.

EVs-lease-September
Kia Niro EV (Source: Kia)

Although that may sound intriguing, other electric models are available at even more affordable monthly rates.

For example, the 2024 Honda Prologue EX at $269 for 36 months. With only $1,999 due at signing, Honda’s electric SUV can be leased for an effective rate of $325 a month.

EVs-lease-September
2024 Honda Prologue Elite (Source: Honda)

The Prologue EX also has a range of up to 296 miles, compared to the Niro EV, which has an EPA-estimated 253-mile driving range. Despite the Prologue’s higher starting price ($47,400 vs $39,600), Honda offers more incentives, including a loyalty (or conquest) bonus.

Volkswagen’s ID.4 is available for $219 for 36 months. With $3,499 due at signing, the 2024 Volkswagen ID.4 Standard has an effective cost of $316 per month.

Electric Vehicle Monthly Rate Term
(months)
Due at Signing
2024 Kia Niro Wind EV $169 24 $3,999
2024 VinFast VF 8 $199 36 $894
2024 Kia EV6 $209 24 $3,999
2024 Hyundai IONIQ 5 $209 33 $3,999
2024 Volkswagen ID.4 $219 36 $3,499
2024 Honda Prologue $269 36 $1,999
2024 Hyundai IONIQ 6 $299 33 $3,999
EVs for lease under $300 per month in September 2024

After unveiling the updated US-built 2025 model, Hyundai’s IONIQ 5 is one of the best EVs to lease in September.

The 2024 Hyundai IONIQ 5 SEL RWD is listed at $209 for 33 months. With $3,999 due upfront, you can drive off in a new IONIQ 5 for $330 a month.

EVs-lease-September
2024 Hyundai IONIQ 5 (Source: Hyundai)

Hyundai’s electric fastback, the IONIQ 6, is listed at $299 for 33 months. The 2024 IONIQ 6 SEL RWD, with $3,999 due at signing, has an effective cost of $420 per month.

Its third EV, the Kona Electric, is slightly more expensive at $362 for 24 months. That’s for the 2025 Kona SEL EV with up to 261 miles range. With $1,991 due upfront, the Kona EV costs $445 a month.

EVs-lease-September
2024 Kia EV6 (Source: Kia)

Kia’s EV6 is another top EV lease option this month. The 2024 Kia EV6 Light Long Range RWD is listed at just $209 for 24 months. Kia states that $3,999 is due at signing, amounting to a $376 monthly rate.

After Kia introduced a new Tesla Conquest Cash discount, Tesla drivers (buyers and lessees) can score an extra $1,500 off the EV9 and $1,000 off the EV6.

With the discount, Kia’s EV6 is even cheaper to lease than a Soul at just $179 per month ($346 effective rate) despite costing more than double.

Although not on the list, the Subaru Solterra is also a steal in September. The 2024 Subaru Solterra Premium starts at $329 per month (36 months) with no money down.

Ready to save big? We can help you get started. Check out our links below to find deals on EVs in your area.

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