Connect with us

Published

on

This image, from March 2022, shows wind turbines and gas storage facilities in Germany. Europe’s energy markets have experienced turbulence in recent months.

Jan Woitas | Picture Alliance | Getty Images

The CEO of Italian power firm Enel told CNBC Tuesday that turbulence in energy markets was likely to persist for some time.

“Things are extremely turbulent, as they have been the whole year, I would say,” Francesco Starace said.

“The turbulence we’re going to have will remain — it might change a little bit, the pattern, but we’re looking at one or two years of extreme volatility in the energy markets,” he added.

Starace’s comments, made on the sidelines of Goldman Sachs’ Carbonomics conference in London, come at a time of uncertainty for the energy sector following Russia’s invasion of Ukraine in Feb. 2022.

Russia was the biggest supplier of both natural gas and petroleum oils to the EU in 2021, but gas exports from Russia to the European Union have slid this year.

“Despite available production and transport capacity, Russia has reduced its gas supplies to the European Union by close to 50% y-o-y since the start of 2022,” the International Energy Agency said in its Gas Market Report last month.

“In the current context, the complete shutdown of Russian pipeline gas supplies to the European Union cannot be excluded ahead of the 2022/23 heating season — when the European gas market is at its most vulnerable.”

Read more about energy from CNBC Pro

Given this fall in Russian imports, major European economies have been attempting to shore up supplies for the colder months ahead. According to data from industry group Gas Infrastructure Europe, the EU’s gas storage is estimated to be 93.9% full.

During his interview with CNBC, Enel’s Starace painted a mixed picture when it came to gas storage.  

“I think we will get through the winter because of all the storage we were able to fill in, and then we’ll find out that we’ll have to refill the storage for next winter … without Russian gas,” he told Steve Sedgwick.

“Let’s not forget we had it in ’22 — less and less — but we had it,” Starace said, adding that a huge amount of work was needed in the coming months. “Too many things need to happen so that next winter is safe.”

He said Europe needed to save gas “every time we can, consume less of it, get rid of those uses of gas that make no sense and leave it for the industry that needs it.”

This was the “big fight that we have to really focus on during ’23,” he added.

Stock picks and investing trends from CNBC Pro:

Iberdrola CEO Ignacio Galan said he broadly agreed with Starace, adding that he expects the volatility in oil and gas markets to continue over the next few months.

“But I think what we need … is to accelerate, as much as we can, the construction of infrastructures in electricity,” Galan told CNBC’s “Squawk Box Europe,” referencing both renewables and interconnections. “I think we are far from what is needed.”

He went on to stress the importance of reducing reliance on third countries and third parties in favor of boosting self-sufficiency within Europe.

“The only way for that … is to accelerate our investment in more renewables, in more interconnections, in more digital grids,” Galan added.

Continue Reading

Environment

Massachusetts launches a two-year V2X pilot program

Published

on

By

Massachusetts launches a two-year V2X pilot program

Massachusetts is launching a first-of-its-kind statewide vehicle-to-everything (V2X) pilot program. This two-year initiative, backed by the Massachusetts Clean Energy Center (MassCEC), aims to deploy 100 bidirectional chargers to homes, school buses, municipal, and commercial fleet participants across the state.

These bidirectional chargers will enable EVs to serve as mobile energy storage units, collectively providing an estimated 1.5 MW of new storage capacity. That means EVs won’t just be getting power – they’ll be giving it back to the grid, helping to balance demand and support renewable energy use. The program is also focused on ensuring that low-income and disadvantaged communities have access to this cutting-edge tech.

The Massachusetts pilot is one of the largest state-led V2X initiatives in the US and is designed to tackle key challenges in deploying bidirectional charging technology. By strategically placing these chargers in a variety of settings, the program aims to identify and resolve barriers to wider adoption of V2X technology.

Massachusetts EV owners and fleet operators enrolled in the program will get bidirectional chargers capable of both vehicle-to-grid (V2G) and backup power operations at no cost. Here’s what they stand to gain:

Advertisement – scroll for more content

  • No-cost charging infrastructure: Bidirectional charging stations and installation are fully covered for participants.
  • Grid resilience: With an estimated 1.5 MW of new flexible and distributed storage assets, the program strengthens Massachusetts’ energy infrastructure.
  • Clean energy integration: V2G technology allows EVs to charge when renewable energy is available and discharge stored energy when it’s not, supporting the state’s clean energy goals.
  • Backup power: EV batteries can be used as backup power sources during outages.
  • Revenue opportunities: Some participants can earn money by sending stored energy back to the grid.

Clean energy solutions firm Resource Innovations and vehicle-grid integration tech company The Mobility House are leading the program’s implementation. “With the charging infrastructure provided through this program, we’re eliminating financial barriers and enabling school districts, homeowners, and fleets to access reliable backup power,” said Kelly Helfrich of Resource Innovations. “We aim to create a scalable blueprint for V2X programs nationwide.”

“Bidirectional charging benefits vehicle owners by providing backup power and revenue opportunities while strengthening the grid for the entire community,” added Russell Vare of The Mobility House North America.

The program is open for enrollment now through June 2025. For more details, visit the MassCEC V2X Program webpage. A list of eligible bidirectional vehicles can be found on that page.

Read more: Cambridge’s new solar VPPA is the largest ever by any US city


If you live in an area that has frequent natural disaster events, and are interested in making your home more resilient to power outages, consider going solar and adding a battery storage system. 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. They have 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 Advisers to help you every step of the way. Get started here. –trusted affiliate link*

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

Continue Reading

Environment

Compton, California, just got its first 25 electric school buses

Published

on

By

Compton, California, just got its first 25 electric school buses

Compton, California, has unveiled 25 new electric school buses – the school district’s first – and 25 Tellus 180 kW DC fast chargers.

Compton Unified School District (CUSD) in southern Los Angeles County is putting 17 Thomas Built Type A and eight Thomas Built Type C electric school buses on the road this spring. In addition to working with Thomas Built, CUSD also collaborated with electrification-as-a-service provider Highland Electric Fleet, utility Southern California Edison, and school transportation provider Durham School Services.

Environmental Protection Agency’s (EPA) Clean School Bus Program awarded funds for the vehicles in the program’s first round. EPA also awarded CUSD funds for the third round of the program and anticipates introducing an additional 25 EV school buses in the future.

“I can’t stress enough how vital grants like these are and the need for continued support from our partners in government at the state and federal level to fund additional grants for school districts and their transportation partners that are ready to deliver and operate zero-emission buses,” said Tim Wertner, CEO of Durham School Services.

Advertisement – scroll for more content

CUSD, which serves Compton and parts of the cities of Carson and Los Angeles, currently serves more than 17,000 students at 36 sites. The district has a high school graduation rate of 93% and an 88% college acceptance rate. One in 11 children in Los Angeles County have asthma, which makes the need for emissions-free school transportation that much more pressing.

Read more: Thomas Built Buses debuts its next-gen electric school bus


If you’re considering going solar, it’s always a good idea to get quotes from a few installers. 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

Rivian’s R1S electric SUV just got way cheaper to lease

Published

on

By

Rivian's R1S electric SUV just got way cheaper to lease

After cutting lease prices by $200 this month, the Rivian R1S is now surprisingly affordable. It may even be a better deal than the new Tesla Model Y.

Rivian cuts R1S lease prices by $200 per month

Rivian’s R1S is one of the hottest electric SUVs on the market. If you haven’t checked it out yet, you’re missing out.

With some of the best deals to date, now may be the time. Rivian lowered R1S lease prices earlier this month to just $599 for 36 months, with $8,493 due at signing (30,000 miles). The offer is for the new 2025 R1S Adventure Dual Standard, which starts at $75,900.

Before the price cut, the R1S was listed at $799 per month, with $8,694 due at signing. The electric SUV now has the same lease price as the R1T, despite costing $6,000 more.

Advertisement – scroll for more content

The 2025 R1T Dual Motor starts at $69,900, essentially making it a free $6,000 upgrade. At that price, you may even want to consider it over the new Tesla Model Y.

Tesla’s new Model Y Launch Series arrived with lease prices of $699 for 36 months. With $4,393 due at signing, the effective rate is $821 per month, or just $13 less than the R1S at $834. However, the 2025 R1S costs nearly $15,000 more, with the Model Y Launch Series price at $59,990.

Rivian is also offering an “All-Electric Upgrade Offer” of up to $6,000 for those looking to trade-in their gas-powered car, but base models are not included.

Starting Price Range
(EPA-est.)
2025 Rivian R1S Dual Standard $75,900 270 miles
2026 Tesla Model Y Launch Series $59,990 327 miles
Rivian R1S Dual Standard vs new Tesla Model Y Launch Series

To take advantage of the Rivian R1S lease deal, you must order it before March 15 and take delivery on or before March 31, 2025.

The 2025 Rivian R1S Dual Standard Motor has an EPA-estimated range of up to 270 miles. Tesla’s new Model Y Launch Series gets up to 327 miles.

Which electric SUV would you choose? Rivian’s R1S or the new Tesla Model Y? If you’re ready to check them out for yourself, you can use our links below to find deals on the Rivian R1S and Tesla Model Y in your area.

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

Continue Reading

Trending