Accelerating Transformation to All-Electric Buildings in NY
By Samantha Wilt, Senior Policy Analyst, Climate & Clean Energy Program
The landmark Climate Leadership and Community Protection Act’s (CLCPA) ambitious goal to reduce greenhouse gas emissions 85% by 2050 will require a transformation of the power, transportation and building sectors. As highlighted in the New York State Energy Research and Development Authority’s (NYSERDA) recently released draft Carbon Neutral Building Roadmap, most of New York’s 6.2 million buildings will need to be carbon neutral, which will require that the water and space heating in these buildings (along with cooking and clothes drying), be provided by highly efficient electric appliances over the next 30 years. To put us on the right path, a recent analysis by Synapse Energy Economics demonstrates that New York should commit to a goal of electrifying 2.1-2.5 million households by 2030. The state must also focus on an equitable transition to efficient, electrified buildings and direct significant resources to provide improved housing in Disadvantaged Communities.
Indeed, New York has already launched several promising pilot initiatives geared at ramping up deployment of electrification technologies, especially for affordable housing which will need additional resources to undertake these capital intensive projects. Through its Low Carbon Pathways for Multifamily Buildings program, NYSERDA is making $7.8 million available for owners or managers of multifamily buildings to implement low carbon solutions as part of planned upgrades. This new incentive complements existing capital planning support and free resources, which together provide a step-by-step pathway to decarbonize buildings. NYSERDA is also partnering with New York State Homes and Community Renewal on their new Clean Energy Initiative with $7.5 million for a pilot initiative to create up to 600 energy-efficient, all-electric affordable housing units. In addition, NYSERDA is also partnering with New York City’s Housing Preservation Department (HPD) on a $24 million pilot to decarbonize affordable housing, which is expected to support upgrades in approximately 1,200 living units of affordable housing and benefit 3,000 low-to-moderate income residents.
Despite ambitious midcentury goals and innovative programming, New York’s current short-term plans for heat pump deployment fall short. The Public Service Commission’s (PSC) January 2020 Order Authorizing Utility Energy Efficiency And Building Electrification Portfolios Through 2025 sets a minimum goal of 3.6 TBtu of net site energy savings from heat pumps through 2025, with a budget of $454 million for utility incentives and market development (read more on the order here and here). Utilities have started to implement these programs, coordinating efforts to ensure that all customers in New York State have access to comparable program offerings and incentives for heat pumps.
However, the 2020-2025 target will put the state in a difficult position to achieve its ultimate goals by 2050. A low near-term goal necessitates a very steep ramp up in heat pump adoption after 2025 and could require more than 1.5 million households to replace existing, still functioning fossil fuel systems in the 2040s (fossil systems that will be installed in the next decade that may have to be scrapped before the end of their useful lives to meet the 2050 goal).
Based on the findings in the Synapse analysis, New York should adopt a 2030 goal of 2.1–2.5 million households for heat pump retrofits, and assure adequate resources, especially for Disadvantaged Communities and low income households, and including market and workforce development, also focused especially on Disadvantaged Communities, to achieve that goal. Adopting this ambitious target will put the state on a trajectory of achieving its nation-leading climate goals in the most equitable and efficient way possible.
Originally published by NRDC, Expert Blog.
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A massive Tesla Megapack project with 1.3 GWh of energy storage capacity is coming online in Arizona – making it one of the largest battery systems.
Salt River Project (SRP) and Plus Power LLC are behind the massive project.
Yesterday, they announced that it is coming online and should provide enough power for 76,000 homes:
Salt River Project (SRP) and Plus Power LLC today celebrated two new grid-charged battery storage systems, Sierra Estrella Energy Storage and Superstition Energy Storage. Together, these facilities will add 340 megawatts (MW) / 1,360 megawatt-hours (MWh) of additional battery storage capacity to SRP’s system – enough to power 76,000 residential homes for a four-hour period. The batteries will absorb excess energy when customer demand is lower and store it for use during times of peak demand.
By being turned on, it automatically became the largest standalone battery system in Arizona and one of the biggest in the US.
Plus Power has been using Tesla Megapacks in many of its energy storage projects, like the one that replaced Hawaii’s last coal power plant.
The Megapack has quickly become the go-to solution for large-scale energy storage projects.
Last quarter, Tesla deployed a record amount of energy storage, 4 GWh, and most of that is believed to be Megapacks.
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EV maker Rivian (RIVN) reaffirmed its plans to build 57,000 vehicles this year during its 2024 Investor Day. More importantly, Rivian still expects to achieve a positive gross profit by the end of the year.
Rivian still on track for positive gross profit in Q4 2024
Rivian gave us a sneak peek into what we can expect as the EV maker transitions to its next growth stage during its first Investor Day on Thursday.
After launching not one but three products (R1T, R1S, and Commercial Van), Rivian lost over $139,000 on every vehicle built in the third quarter of 2022.
Since then, Rivian has made drastic progress in cutting costs. In the first three months of the year, Rivian lost $38,784 per EV built, an improvement of over $100,000. However, that number is still up from the $32.5K and $30.5K losses in Q2 and Q3, 2023.
| Q3 ’22 | Q4 ’22 | Q1 ’23 | Q2 ’23 | Q3 ’23 | Q4 ’23 | Q1 ’24 | |
| Rivian loss per vehicle | $139,277 | $124,162 | $67,329 | $32,594 | $30,500 | $43,372 | $38,784 |
Rivian shut down its Normal, IL, manufacturing plant in April for a host of upgrades. According to CEO RJ Scaringe, the changes have resulted in “significant” cost reductions.
As a result, Rivian expects to achieve its first positive gross profit in the fourth quarter of 2024. On Thursday, Rivian reaffirmed that it’s on track to hit the milestone by the end of the year.
Rivian believes that, between significant material and labor cost reductions, it will be enough as it strives to earn a profit.
2024 production goal in sight
Rivian also confirmed it’s on track to build 57,000 vehicles this year. Despite production slipping in Q1 (13,980 vs 17,541 in Q4 2023), Rivian expected a slowdown with the planned plant shutdown.
The EV maker expects lower production in Q2 between 9,100 and 9,300 units. Second-quarter deliveries are forecasted to be between 13,000 and 13,300, slightly lower than the 13,588 handed over in Q1.
Rivian expects to ramp production in the second half of the year. Following the R2 launch in early 2026, it expects production capacity to reach 215,000 units.
The smaller, more affordable R2 is expected to represent 155,000 of the total 215,000 production capacity.
Once Rivian’s Georgia plant opens, output is expected to surge with 200,000 production capacity on line 1 and another 200,000 on line 2.
Rivian’s new partnership with Volkswagen earned it new confidence as its stock surged over 20%. Several analysts praised the move, including Dan Ives from Wedbush. Ives said the deal can “change the game for Rivian” on its path to profitability.
Source: Rivian
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