Connect with us

Published

on

Oh the irony, it burns! Solar power is supposed to open the door on a new era in which humans and their ecosystems exist in harmony, but for now the record is still stuck on fossil energy. Oil, gas, and coal producers continue to dig up carbon from underground and disburse it about the surface, and solar power is becoming an enabler, providing power to operate — and equip — drilling sites and mines.

More Solar Power For Fossil Fuels

The use of solar power in the fossil energy industry should come as no surprise. After all, extractive energy sites need energy to operate, and the expense of building new transmission lines or ferrying fuel to remote locations can be formidable.

Solar power became the solution after the first practical solar cell was introduced in 1954. Oil producers were the solar industry’s leading customer by 1980, with an emphasis on use at offshore drilling sites.

Those early solar devices were limited in scale, but that changed as solar technology improved. Drillers began installing the first large-scale solar arrays for oil and gas operations in the US as early as 2003.

Alongside a sharp drop in the cost of solar cells, the scale of solar activity at drilling sites and mines has picked up significantly in recent years.

Fossil energy stakeholders have begun leaning on solar power and other renewables to fend off critics with new pledges to reduce carbon emissions. However, when fossil energy stakeholders pledge to decarbonize, they mostly mean reducing carbon emissions from operations under their direct control. Once their product reaches the marketplace, it’s a different story.

In effect, renewable energy is giving fossil energy stakeholders license to keep pumping out more product, exploring more sites for extraction, and building new pipelines, leaving energy consumers to hold the carbon emissions bag.

More Solar Power For Sustainable Steel

That brings us to the latest news about solar power and steelmaking. Steel is one of those tough-to-decarbonize industries, and steel is also the material that makes pipelines and other fossil energy infrastructure. Fossil energy stakeholders could give themselves many brownie points for transitioning their infrastructure to steel made with renewable energy.

For example, last year CleanTechnica was among those to welcome plans for a new solar array at the longstanding Rocky Mountain steel mill in Pueblo, Colorado. The mill is currently owned by the North American branch of Russia’s leading steel and coal producer EVRAZ, and the project has been developed by Lightsource bp, a joint venture between bp and the solar firm Lightsource.

Aside from enabling the mill to offset about 90% of its electricity with solar power, the project also helps to hasten the closure of the nearby Comanche coal power plant.

Why Rain On The Solar Parade?

At the time, the steel mill’s ability to churn out a new generation of extended-length rails for railroads was so exciting that we totally forgot to take a look at its other branches of its business. Our friends over at Colorado Public Radio report that the mill is also known for producing well casings, mainly for oilfields in Texas and North Dakota, in addition to producing steel pipe for, you guessed it, pipelines.

The cat’s out of the media bag now. Earlier this week bp announced that the new solar array, dubbed Bighorn Solar, is now up and running,

According to bp, the new solar array will have the carbon-reducing effect of “removing 92,100 fuel-burning cars from the road,” which is fine if carbon emissions from the mill were the only emissions in question. The bigger problem is that millions of carbon-emitting cars still rule the global roadways, and millions of car buyers are switching over to bigger vehicles that burn more gas.

That’s a problem for bp and EVRAZ, both of which have taken the opportunity to burnish their green cred by touting “the world’s first steel mill to be powered largely by solar energy,” while continuing along with their fossil energy operations.

“It is the largest on-site solar facility in the US dedicated to a single customer, with more than 750,000 solar panels providing nearly all the plant’s annual electricity demand,” bp enthused in a press release earlier this week. “This will enable the mill to produce some of the world’s greenest steel and steel products.”

Dave Lawler, chairman and president of bp America, piled on with this comment:

“Bighorn Solar shows us what the future of American energy can look like. Renewable energy can create a more sustainable, competitive business. Projects like this can make companies more resilient and protect jobs through the energy transition. And it’s another example of how bp is working to help the US and the world reach net zero by 2050.”

Do tell! Just last summer, bp CEO  Bernard Looney seemed to be anticipating that the oil and gas industry would continue to be a leading customer for steel products, if not from the Rocky Mountain mill then from others. In a widely circulated interview with Bloomberg News, Looney foresaw a strong, continuing recovery in demand globally.

It’s Time To Get Serious About Decarbonizing

Looney is not alone. OPEC is also anticipating that oil demand will beat pre-pandemic levels by next year, and demand for coal is practically through the roof.

In terms of promoting a nice, green public image, that is a  problem for EVRAZ and bp. On its part, EVRAZ appears to be ready to resolve part of the problem. As of last January the company was reportedly mulling over the idea of spinning off its coal business to concentrate on steel making.

The sharp uptick in coal demand may have prompted EVRAZ to set those plans aside for now, but the idea could still be percolating. Vanadium is EVRAZ’s other main business branch, and that should help cushion the separation from coal, considering the growing market for vanadium in energy storage as well as steel making.

Last year, EVRAZ also launched a new vanadium R&D center in Switzerland, focusing on expanding its use in the steel industry. That still leaves the door open for fossil energy customers, but EVRAZ seems to have its eye on the growing demand for green steel by the auto industry, which is pivoting into battery electric cars as well as fuel cell electric trucks and other heavy-duty vehicles.

No such cushion is at hand for bp. The company is pretty much stuck tinkering around the edges of decarbonization while continuing to pump out oil and gas.

Still, cleantech investments by bp and several other fossil energy firms are not insignificant, and those that invest the big bucks on cleantech gain an important public relations edge over the others.

That could be the motivation behind two interesting solar power moves that bp made right in ExxonMobil’s backyard, the US. The biggest media play went to the company’s gigantic new 9-gigawatts solar acquisition in Texas, announced last June.

Less attention went to a 132-megawatt project in Arkansas, which bp also announced last summer. That sounds like peanuts compared to the Texas buy, and it is, but in the context of solar power growth in Arkansas it’s a huge step forward.

As of halfway through 2021, solar developers in Arkansas were drifting in the range of 12 megawatts or less. Activity finally began to scale up in 2019 after a sea change in the state’s solar policies. The Arkansas branch of Entergy was leading the way, and now bp has spotted an opportunity to stake its claim in a market ripe for rapid growth.

All else being equal, the surging cost of oil and gas for home heating should help juice solar activity in Arkansas and elsewhere, so stay tuned for more on that.

As for the Rocky Mountain steel mill, one day in the sparkling green future it will churn out less well casings and more parts for solar arrays, wind turbines and electric vehicles, but today is not that day.

Follow me on Twitter @TinaMCasey.

Photo: Solar power for Rocky Mountain steel mill courtesy of bp via prnewswire.

 

Appreciate CleanTechnica’s originality? Consider becoming a CleanTechnica Member, Supporter, Technician, or Ambassador — or a patron on Patreon.

 

 


Advertisement



 


Have a tip for CleanTechnica, want to advertise, or want to suggest a guest for our CleanTech Talk podcast? Contact us here.

Continue Reading

Environment

Block leads rebound in fintech stocks as analysts downplay JPMorgan data fee risk

Published

on

By

Block leads rebound in fintech stocks as analysts downplay JPMorgan data fee risk

Twitter CEO Jack Dorsey testifies during a remote video hearing held by subcommittees of the U.S. House of Representatives Energy and Commerce Committee on “Social Media’s Role in Promoting Extremism and Misinformation” in Washington, U.S., March 25, 2021.

Handout | Via Reuters

Block jumped more than 5% on Monday, leading a rally in shares of fintech companies as analysts downplayed the threat of JPMorgan Chase’s reported plan to charge data aggregators for access to customer financial information.

The recovery followed steep declines on Friday, after Bloomberg reported that JPMorgan had circulated pricing sheets outlining potential fees for aggregators like Plaid and Yodlee, which connect fintech platforms to users’ bank data.

In a note to clients on Monday, Evercore ISI analysts said the potential new expenses were “far from a ‘business model-breaking’ cost increase.”

In addition to Block’s rise, PayPal climbed 3.5% on Monday after sliding Friday. Robinhood and Shift4 recorded modest gains.

Broader market momentum helped fuel some of the rebound. The Nasdaq closed at a record, and crypto rallied, with bitcoin climbing past $123,000. Ether, solana, and other altcoins also gained.

JPMorgan announces plans to charge for access to customer bank data

Evercore ISI’s analysts said that even if JPMorgan’s changes were implemented, the most immediate effect would be a slight bump in the cost of one-time account setups — perhaps 50 to 60 cents.

Morgan Stanley echoed that view, writing that any impact would be “negligible,” especially for large fintechs that rely more on debit, credit, or stored balances than bank account pulls for transactions.

PayPal doesn’t anticipate much short-term impact, according to a person with knowledge of the issue. The person, who asked not to be named in order to speak about private financial matters, noted that PayPal relies on aggregators primarily for account verification and already has long-term pricing contracts in place.

While smaller fintechs that depend heavily on automated clearing house (ACH) rails or Open Banking frameworks for onboarding and compliance may face real pressure if the fees take effect, analysts said the larger platforms are largely insulated.

WATCH: Congress moves to redraw $3.7 trillion crypto market rules, opening door to Wall Street

Congress moves to redraw $3.7 trillion crypto market rules, opening door to Wall Street

Continue Reading

Environment

EV sales hit 9.1M globally in H1 2025, but the US just hit the brakes

Published

on

By

EV sales hit 9.1M globally in H1 2025, but the US just hit the brakes

The global EV market is still charging ahead. According to new numbers from global research firm Rho Motion, 9.1 million EVs were sold worldwide in the first half of 2025, up 28% compared to the same period last year. But not every region is accelerating at the same pace.

China and Europe are doing the heavy lifting

More than half of the world’s EVs this year have been bought in China. That market hit 5.5 million sales in the first six months of 2025 – a 32% jump year-over-year. Around half of new cars bought in China are now electric.

While some Chinese cities’ subsidies have dried up, Rho Motion expects momentum to pick back up later in the year as more funding is released.

In Europe, 2 million EVs were sold in the first half of the year, up 26%. Battery electric vehicle (BEV) sales also rose 26%, thanks in part to affordable models like the Renault 4 (pictured) and 5 entering the market. Plug-in hybrids (PHEVs) weren’t far behind, growing 27% year-to-date. Chinese automakers are leaning into PHEVs as a way to work around the EU’s new tariffs on BEVs.

Advertisement – scroll for more content

Spain is leading the pack with EV sales soaring 85% so far this year. Its generous MOVES III incentive program was extended in April and has kept sales strong. The UK and Germany are also seeing solid growth – 32% and 40%, respectively. France, however, is slumping. With subsidies cut, EV sales there have dropped 13%.

North America is stuck in the slow lane

Things aren’t looking quite as bright in North America. EV sales in the US, Canada, and Mexico are up just 3% so far this year.

Mexico is the one bright spot, with a 20% boost. The US is up 6%. But Canada is down a whopping 23%.

And things could get bumpier. On July 4, Trump signed Congress’s big bill into law, which axes all the Inflation Reduction Act EV tax credits. Those consumer credits for EVs now officially end on September 30.

Just over half of the EVs sold in the US this year qualified for those credits. Rho Motion predicts a rush in Q3 before the subsidies disappear – and a decline in sales after that.

Rho Motion data manager Charles Lester said, “With Trump’s latest cuts in his ‘Big Beautiful Bill,’ the US could struggle to see any growth in the EV market overall in 2025.”

Global EV sales snapshot, H1 2025 vs H1 2024

  • Global: 9.1 million (+28%)
  • China: 5.5 million (+32%)
  • Europe: 2.0 million (+26%)
  • North America: 0.9 million (+3%)
  • Rest of world: 0.7 million (+40%)

Read more: China breaks records as global EV sales hit 7.2 million in 2025


The 30% federal solar tax credit is ending this year. If you’ve ever considered going solar, now’s the time to act. To make sure you find a trusted, reliable solar installer near you that offers competitive pricing, check out EnergySage, a free service that makes it easy for you to go solar. It has hundreds of pre-vetted solar installers competing for your business, ensuring you get high-quality solutions and save 20-30% compared to going it alone. Plus, it’s free to use, and you won’t get sales calls until you select an installer and share your phone number with them. 

Your personalized solar quotes are easy to compare online and you’ll get access to unbiased Energy Advisors to help you every step of the way. Get started here.

FTC: We use income earning auto affiliate links. More.

Continue Reading

Environment

The Lucid Air is crushing the competition as the best-selling luxury EV sedan in the US

Published

on

By

The Lucid Air is crushing the competition as the best-selling luxury EV sedan in the US

Lucid’s electric sedan can drive further, charge faster, and packs more advanced tech than most of the competition. That might explain why it’s leading the segment. The Lucid Air remained the best-selling luxury EV sedan in the US after widening its lead in the Q2.

The Lucid Air is America’s best-selling luxury EV sedan

The 2025 Lucid Air Pure arrived as the “World’s most efficient car” with an EPA-estimated range of 420 miles and a record 146 MPGe.

It just set a new Guinness World Record last week for the longest journey by an electric car after travelling 749 miles (1,205 km) on a single charge.

That record was set in the range-topping Lucid Air Grand Touring model, which is rated for up to 512 miles of EPA-estimated range. On the WLTP scale, it’s rated at 597 miles (960 km). Either way, it still crushed the estimates.

Advertisement – scroll for more content

According to second-quarter sales data, released by Kelley Blue Book on Monday, the Lucid Air is still America’s best-selling luxury EV.

Lucid sold 2,630 Air models in Q2, up 10% from the previous year. Through the first half of 2025, Lucid Air sales are up 17% with 5,094 units sold.

Lucid-Air-best-selling-luxury-EV-sedan
Lucid Air (Source: Lucid)

Tesla, on the other hand, only sold 1,435 Model Ss during the quarter, 71% fewer than it did in Q2 2024. Tesla Model S sales in the US are down 70% through the first half of the year at 2,715.

Although Porsche Taycan sales were up 32% with 1,064 models sold, the significantly upgraded 2025 model year was expected to see even more demand. Porsche has 2,083 Taycans in the US this year, up just 1% from 2024.

Lucid-best-selling-luxury-EV-sedan
Lucid Air Pure interior (Source: Lucid)

Other luxury EV sedans, such as the BMW i5 (1,434), i7 (820), and the Mercedes EQS (498), experienced steep double-digit sales declines year-over-year.

And it’s not just electric luxury sedans. The Lucid Air is currently outselling many gas-powered vehicles in its segment.

Lucid-Air-best-selling-luxury-EV-sedan
Lucid Air (left) and Gravity (right) Source: Lucid

Lucid’s first electric SUV, the Gravity, is also rolling out. Although only five were sold in the second quarter, Lucid is quickly scaling production. Lucid aims to produce 20,000 vehicles this year, more than double the roughly 9,000 it built in 2024.

Earlier today, Lucid’s interim CEO, Marc Winterhoff, confirmed during an interview with Bloomberg that the company expects higher Gravity output in the second half of the year.

The interview was at the grand opening of Panasonic’s new battery cell plant in De Soto, Kansas. Winterhoff said Lucid will start using new cells from the facility, but not until next year.

Lucid’s CEO stressed the importance of establishing a local supply chain, as policy changes under the Trump Administration are taking effect. Lucid and Panasonic are collaborating to localize EV materials, such as graphite. Last month, Lucid secured a multi-year supply agreement with Graphite One for US-sourced Graphite.

FTC: We use income earning auto affiliate links. More.

Continue Reading

Trending