An employee with Ipsun Solar installs solar panels on the roof of the Peace Lutheran Church in Alexandria, Virginia on May 17, 2021.
Andrew Caballero-Reynolds | AFP | Getty Images
Ramping up investment in policies and technologies to tackle climate change could play a significant role in the global economy’s recovery from the coronavirus pandemic.
In a recent note, Charles Dumas, chief economist at U.K.-based investment research firm TS Lombard, said that action on climate change is often criticized as moving too slowly. However, with governments increasing spending to aid their post-Covid economies, they may start catching up.
A key tenet of this is the ever-decreasing cost of electricity per megawatt hour, according to figures from TS Lombard, with costs of solar, offshore and onshore wind dropping over the last 10 years, while gas and coal have remained largely the same.
“Effectively by 2030 the cost of renewable electricity is going to be half that of coal and gas sourced electricity,” Dumas told CNBC.
These trends will bring many of the various pledges to reach net zero more closely in sight.
The fatal floods in Germany in recent weeks have put the impacts of climate change firmly in the spotlight again but they are only the latest in a series of devastating extreme weather events of late, including the sprawling wildfires in Oregon.
COP26 priorities
Amid this backdrop, the United Nations Climate Change Conference, better known as COP26, will meet in Glasgow in November. It will mark one of the most significant multilateral meetings on climate since the Paris agreement.
Dumas said that as COP26 approaches, governments need to understand their key priorities, and among them should be infrastructure investments as numerous technological and engineering challenges continue to obstruct renewable energy.
“I think the intermittency problem is pretty serious and it’s not just that the sun goes down at night,” Dumas said.
In the case of solar power, output can be mixed depending on the location of infrastructure like solar farms.
“There’s huge variation with sunny days in winter and sunny days in the middle of summer so the intermittency takes on a very big seasonal aspect,” Dumas said.
“You can have vicious weather for a long time in the middle of December or January and lo and behold you wouldn’t want to be depending on solar power.”
Energy transmission could be another bottleneck, he said. While the developing world, including several African nations, has great potential in developing sites for generating solar power, that power needs to move easily.
“The issue of transmission technology is really major. If you want Chad to be the new Saudi Arabia, because of the Sahara Desert there’s a lot of sun there, but you want the electricity to be used in Europe then you’re talking about some expensive processes and processes needing a lot of research and a lot of further investment.”
Storage and carbon capture are all areas that require hefty investment, Dumas added, if governments are to reach their net-zero targets.
“What we need is a very clear public policy lead in order to get anywhere near these net zero promises and I suspect that actually what it’s going to be about is a carbon tax, which the Americans may resist but will be necessary,” he said.
Job creation
Paul Steele, chief economist at an independent policy research institute called the International Institute for Environment and Development, said that climate action and renewable energy investments will serve the dual purpose of tackling the climate crisis while creating jobs for the post-Covid economy.
“One of the priorities coming out of Covid is to create labor intensive employment. Both in developed and developing countries, you can provide labor intensive employment through renewable energy,” Steele said.
One example, he said, was the retrofitting of boilers in homes in the U.K., which would help push the country toward its climate targets and create new jobs while being relatively inexpensive in the grand scheme of things.
Steele said that investments to drive a climate-friendly economy cannot be short term or have quick goals.
He pointed to the various government support schemes for the airline industry, which has been battered by the pandemic. Just this week, the European courts gave the nod to a $2.9 billion bailout for Air France-KLM’s Dutch business.
Bailout funds like these should be tied to sustainability commitments by the airline industry, he said, but that can be a dicey proposition to get over the line.
“Governments aren’t making the connections enough and traditionally treasuries and particularly the ministries of transport are still dominated by road building lobbies and people who like to build highways and increase transport rather than people who want to invest in sustainable alternatives.”
The Boring Company, Elon Musk’s tunneling startup, is reportedly facing significant issues with its new project in Nashville, Tennessee. A key subcontractor has walked off the job, alleging that the company has failed to pay for work completed on the “Music City Loop,” claiming they have received only 5% of what they are owed.
We have been following The Boring Company’s expansion efforts closely.
After the relative success of the Las Vegas Loop and several projects that failed to materialize, it looked like the company was winding down until a new proposal in Nashville gained some momentum.
However, a new report from the Nashville Banner indicates that the project is hitting a major wall.
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Shane Trucking and Excavating, a local contractor hired to handle preliminary work for the tunnel project, pulled its workers off the site this Monday. William Shane, the owner of the company, told the Banner that The Boring Company has “ghosted” them and failed to pay invoices totaling in the six figures.
According to Shane, the payment terms were initially set for every 15 days, then unilaterally switched to 60 days. Now, he claims it has been over 120 days since they broke ground, and his company has received only a fraction of the payment due.
“We were really skeptical from the beginning, and then since then, things pretty much just went downhill,” Shane said.
The contractor was reportedly responsible for preparing the launch pad for “Prufrock,” The Boring Company’s proprietary tunnel boring machine (TBM). We previously reported on Prufrock’s capabilities, with the company claiming it can dig tunnels significantly faster than conventional machines, supposedly porpoising directly from the surface to avoid digging expensive launch pits.
If the launch pad isn’t finished because the excavator wasn’t paid, Prufrock isn’t digging anywhere.
This isn’t the first time we’ve heard of payment issues involving Musk-led companies. Tesla has been known to not pay its bills, leading to small companies going bankrupt.
As The Boring Company was stiffing Shane on the bills, the company tried to poach workers from its own contractor and lied about it:
“One of their head guys texts two of my welders, offering them a job for $45 an hour from his work phone,” Shane described, noting that the same TBC employee denied sending the texts when confronted with screenshots. “That’s actually a breach of contract.”
On top of the missed payments, Shane alleges serious safety concerns. They made several official complaints to OSHA:
“Where we’re digging, we’re so far down, there should be concrete and different structures like that to hold the slope back from falling on you while you’re working. Where most people use concrete, they currently have — I’m not even kidding — they currently have wood. They had us install wood 2x12s.”
The Boring Company Vice President David Buss blamed missed payments on “invoicing errors” in a statement to the Banner:
“It does look like we had some invoicing errors on that. It was, you know, unfortunately, too common of a thing, but I assured them that we are going to make sure that invoices are wired tomorrow.”
He also said that he would look into the poaching allegations, but added that he is not aware of any OSHA complaints.
The “Music City Loop” was pitched as a solution to connect downtown Nashville to the airport, a route that is notoriously congested.
The Boring Company claims it can complete the project without public money, but there are some obvious issues with its financing.
Electrek’s Take
I’ve been willing to give them the benefit of the doubt on the “Loop” concept. While it falls short of the original “autonomous pods” vision or the “Hyperloop” speed dreams, the system in Las Vegas does work to move people, even if it is just Teslas in tunnels driven by humans.
There’s just no evidence that it would be more efficient than any other public transit system.
When Musk launched The Boring Company’s first test tunnel in LA, I asked him if he had any simulations showing his “loop” system to be more efficient. He said that they were working on that. That was 7 years ago.
Therefore, while The Boring Company appears to have achieved marginal improvements in tunnel boring, mainly when it comes to smaller tunnels; it has yet to show clear evidence that its Loop system is a better solution than any other public transit system.
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Heybike drops new Mars 3.0 folding e-bike back to its $1,199 low during Black Friday sale for first time since launch
As part of its ongoing Black Friday e-bike sale, and coming right alongside the equally new price cut on the Ranger 3.0 Pro, Heybike is giving us the first official post-launch discount on its Mars 3.0 Folding Fat-Tire e-bike for $1,199 shipped, as well as a FREE Black Friday gift pack. It launched back at the top of August with a $100 discount from its $1,299 full price, which is repeating here for the first time since those initial deals cooled, and while the discount may not be large, you’re certainly getting a lot of upgraded features for such a low price.
Designed for those riders who seek greater thrills, the new Heybike Mars 3.0 e-bike brings along the new Galaxy Perform eDrive System, which pairs a 750W rear hub motor (1,400W peak) with 95nM of torque (and an obvious torque sensor), as well as a removable 624Wh battery. This system allows you to reach 20 or 28 MPH top speeds, determined by your local laws, and provides pedal-assisted support for up to 65 miles on one full charge. Just like the equally new Ranger 3.0 Pro model, you’ll find a new TFT display on this generation that delivers NFC start-up so you can turn it on by simply tapping your device to the display.
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Aside from its continued space-saving, folding frame, you’ll also notice an improved 440-pound payload so heavier riders can get in on the fun or allow smaller riders to haul some serious cargo weight. The lineup of upgraded features includes a hydraulic suspension fork, a rear Horst link suspension, hydraulic disc brakes, 4-inch puncture-protected tires with fenders, a brake-lit taillight with turn signals, a headlight, a horn, a rear cargo rack, a Shimano Altus 8-speed derailleur, and more.
Heybike’s new-gen Ranger 3.0 Pro folding commuter e-bike gets first post-launch cut to $1,399 low for Black Friday
As part of Heybike’s ongoing Black Friday Sale, and coming in right alongside the new Mars 3.0 Folding e-bike price drop, we’re also now seeing the new Ranger 3.0 Pro Folding Fat-Tire e-bike getting a cut to $1,399 shipped and coming with a FREE Black Friday gift pack. This model was released alongside the Mars 3.0 back in August, and has remained at its $1,499 full price since the initial launch deals ended that month. Now, during this Black Friday season, the brand is offering the first post-launch discount we have seen, giving you another chance at $100 savings on an already lower-cost commuter solution at its best price that we have tracked. Of course, if you want an even more premium look, this model has a Limited Miami Sunset colorway option that has been given a price cut to $1,599 shipped, as well as a Black Friday gift pack and a Miami Sunset gift pack for more added goodies.
Like the Mars 3.0 counterpart, the new Heybike Ranger 3.0 Pro e-bike is quite the higher-end solution for folks seeking new commuting options, all while retaining accessible pricing. It’s been upgraded from the popular Ranger S model with the new Galaxy Perform eDrive System, combining a 750W rear hub motor (1,200W peak), 80nM of torque, and a 720Wh battery. This combination provides a max speed of 20/28 MPH (depending on individual state laws), as well as pedal-assisted support (presided over by a torque sensor) for up to 90 miles on one charge, making it quite the handy commuter – plus, there’s the space-saving folding frame when you reach your destination. It boasts a new TFT display that allows you to tap your phone for NFC start-ups, giving you an extra layer of smart security.
Among its upgraded features, you’ll find a hydraulic suspension fork, 4-inch puncture-protected tires with fenders over each, hydraulic disc brakes, a headlight and horn at its front, a taillight with brake lighting and turn signal lighting, an 8-speed Shimano Altus derailleur, and more. And pivoting back to its folding design, this model condenses even smaller than its predecessor to a 41.7-inch by 20.5-inch by 32.7-inch size.
Tesla’s Universal Wall Connector with dual NACS + J1772 connectors and customizable 48A speeds retains $50 cut to $600
Lectric XP4 Standard Folding Utility e-bikes with $326 bundle: $999 (Reg. $1,325)
Lectric XP Lite 2.0 Long-Range e-bikes with $449 bundles: $999 (Reg. $1,448)
Heybike Mars 2.0 Folding Fat-Tire e-bike with Black Friday gift: $999 (Reg. $1,499)
Heybike Ranger S Folding Fat-Tire e-bike with Black Friday gift: $999 (Reg. $1,499)
Best new Green Deals landing this week
The savings this week are also continuing to a collection of other markdowns. To the same tune as the offers above, these all help you take a more energy-conscious approach to your routine. Winter means you can lock in even better off-season price cuts on electric tools for the lawn while saving on EVs and tons of other gear.
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The EV4 will sadly not arrive in the US as expected, but Kia said it’s still planning on launching another EV that’s expected to be an even bigger hit.
Kia confirms EV4 delay, says another EV is still US-bound
The EV4, Kia’s first electric sedan, was expected to launch in the US within the next few months, but that will no longer be the case.
Kia has indefinitely delayed the launch of the EV4 in the US due to policy changes under the Trump administration.
The loss of the $7,500 federal EV tax credit and added tariffs on Korean imports have forced Kia, like many others, to adjust their US lineup.
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According to Kia America’s marketing boss, Russel Wager, the EV4 is only a small part of the broader tariff-related impacts the Korean automaker is facing. Wager told Car and Driver on the sidelines of the LA Auto Show that the changes will likely impact other vehicles and prices.
2026 Kia EV4 US-spec (Source: Kia)
When asked for specifics about why the EV4 is being pushed back, Wager said, “Can you give me the answer of when the tariffs are going to be resolved in Mexico, Canada, and Seoul? If you give me that answer, I’ll be as specific as possible.”
While the EV4 is delayed indefinitely, Wager suggested bringing the EV3 to the US, Kia’s compact SUV, is still part of the plan.
Kia EV3 (Source: Kia)
The Kia EV3 is already one of the most popular EVs in Europe and the UK’s best-selling retail electric car this year. Given the growing demand for smaller SUVs, the EV3 is expected to be an even bigger hit with US buyers than the EV4.
When it will launch in the US or how much it will cost remains up in the air until Kia gets a better idea of market conditions.
The 2026 Kia EV9 (Source: Kia)
Kia’s EV sales plunged after the federal tax credit expired at the end of September. Sales of the EV6 and EV9 fell by 71% and 66% last month compared to October 2024.
According to Wager, the automaker won’t really know what demand looks like until February or March 2026, since the loss of the $7,500 credit likely pulled buyers forward.
Kia EV3 Air in Frost Blue (Source: Kia UK)
Kia is still ready to launch the EV4 in the US, but that’s only if the tariff situation stabilizes. Earlier this month, the US and South Korea agreed to reduce tariffs on imports from 25% to 15%.
“At that point in time we look at it and say, are we at 25 [percent], are we at 15—and then we can build our business case,” Wager said, adding, “It was originally designed and engineered when the tariffs were zero percent.”
The electric pickup that Kia announced just a few months ago may never make it to the US. Wager pointed to Ford halting F-150 Lightning production and reports that it could be scrapped altogether.
In the meantime, Kia is heavily discounting its current electric vehicles, offering a $10,000 customer cash bonus on every model. Or, you can opt for 0% financing for 72 months plus an extra $2,500 bonus cash. Kia’s sister company, Hyundai, is also offering generous discounts with IONIQ 5 leases starting at just $189 per month.
Interested in a test drive? We can help you get started. You can use our links below to find Kia and Hyundai models in your area.
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