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Big global companies have secured a record 36.7 gigawatts (GW) of clean energy to power their operations in 2022, up 18% from 2021 – and big tech bought the most, according to a new report.

BloombergNEF’s (BNEF) “1H 2023 Corporate Energy Market Outlook” assessed 167 big corporations that announced power purchase agreements (PPAs) in 36 markets worldwide.

A PPA is a contract between an electricity generator and a power purchaser, such as a utility company and in this case, large commercial energy user.

In total, corporations have signed PPAs for 148 GW of clean power since 2008 – more than the total power-generating capacity of France.

In the US, companies have adopted the virtual PPA model, in which a clean power project sells directly into the wholesale market to capture the spot price, rather than literally delivering its electrons directly to the customer. Such contracts are comparatively easy for buyers to sign and allow them to hedge against power price spikes.

Big tech firms were the top corporate clean energy buyers in 2022. Amazon led with 10.9 GW of PPAs signed in 2022, followed by Meta (2.6 GW), Google (1.6 GW), and Microsoft (1.3 GW).

Source: BloombergNEF. Note: Onsite PPAs excluded. Data is based on publicly available information and is disclosed in direct current (DC) capacity, rather than alternating current (AC).

Amazon has announced 24.8 GW of PPAs to date, giving it the seventh-largest clean energy portfolio in the world – and that takes utilities into account. And tech companies will need to keep on buying clean energy to supply their rapidly growing electricity demand.

In 2022, 56 new companies joined the RE100 – which are companies that have committed to sourcing 100% of their electricity from renewable sources. In all, the 397 RE100 companies have purchased an estimated 249 terawatt hours (TWh) of clean electricity to date, but they’ll need an additional 290 TWh in 2030 to meet their goals, according to BNEF projections.

Companies like Google and Microsoft have pledged to meet their demand for power at all hours of the day with carbon-free energy, so demand will be even higher.

Kyle Harrison, head of sustainability research at BloombergNEF, said:

Corporate clean energy buying has been an unwavering constant even as other aspects of [environmental, social, and governance] investing have come under scrutiny.

Companies can access clean energy at scale in most major countries, the economics make sense, and amid turbulent energy markets, PPAs have become useful risk-mitigation tools for CFOs.

Read more: Renewables supplied nearly 75% of new US electrical generating capacity in 2022


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This $17,000 Nissan EV is off to a hot start in China and it’s about to go global

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This ,000 Nissan EV is off to a hot start in China and it's about to go global

Would you buy Nissan’s new EV for under $17,000? Nissan said the N7 has already “exceeded our expectations,” as orders continue to climb in China. With plans to launch the new EV globally, can the N7 help Nissan turn things around?

Nissan sells a $17,000 EV in China?

After launching the N7 on April 28, Nissan’s new electric vehicle set a record in China, securing over 10,000 orders in just 18 days.

Dongfeng Nissan, the company’s joint venture partner, announced that the N7 has become “the fastest joint venture pure electric car” to reach this milestone. According to the latest update, Nissan’s new EV has now racked up 17,215 orders in its first month on the market.

The N7 is available in China with two battery options: 58 kWh or 73 kWh, good for a CLTC range of up to 540 km (335 miles) and 635 km (395 miles), respectively.

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Buyers can choose from three trims: Max, Pro, and Air, with prices starting at just RMB 119,900, or about $17,000. Nissan said 70% of N7 buyers are new to the brand, mainly younger families under the age of 35.

$17,000-Nissan-EV
Nissan N7 electric sedan (Source: Zhou Feng)

Nissan’s electric sedan is slightly longer than the Tesla Model 3, measuring 4,930 mm in length, 1,895 mm in width, and 1,487 mm in height.

Inside, there’s a 15.6″ central infotainment that converts to an in-home theater. It’s also packed with advanced technology and other fun features, like a built-in refrigerator.

The N7 is equipped with Momenta’s autonomous driving technology, offering high-speed navigation assistance, full-scenario parking, and several other safety features.

Dongfeng Nissan’s managing director, Isao Sekiguchi, said the launch of the N7 is “a new starting point” for the struggling brand.

Nissan N7 EV Trim Starting Price
Nissan N7 510 Air 119,900 yuan ($16,500)
Nissan N7 510 Pro 129,900 yuan ($17,800)
Nissan N7 635 Pro 139,900 yuan ($19,200)
Nissan N7 510 Max 139,900 yuan ($19,200)
Nissan N7 635 Max 149,900 yuan ($20,500)
Nissan N7 electric sedan price by trim (Source: Dongfeng-Nissan)

Despite BYD cutting prices again last month, putting more pressure on other brands, Nissan believes the N7 will be profitable even at lower prices.

Nissan confirmed it will export the N7 from China to other global markets. However, the regions, prices, and other details have yet to be confirmed.

Electrek’s Take

Like most global carmakers, Nissan is struggling to stay afloat in China with an influx of low-cost domestic EVs arriving and an intensifying price war.

Japanese brands have been among the hardest hit. Nissan’s sales were down 12% last year, with 696,631 new vehicles sold.

With a promising start, Nissan hopes the N7 can help it recover. It will be the first of nine new energy vehicles (NEVs) the company plans to launch by mid-2027.

Will it be enough? Mazda’s new electric SUV, the EZ-60, secured over 20,000 orders in China. It will also be sold globally, under the name CX-6e. Following the 6e, its new electric sedan, Mazda will launch the CX-6e in Europe and other overseas markets.

Nissan has already announced plans to cut 20,000 jobs globally, along with the closure of several plants, as part of a major restructuring.

Can the N7 spark a comeback? Nissan is preparing to launch several new electric vehicles, including the next-gen LEAF, which will make its global debut later this month.

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It’s official: NYC will impose a new 15 MPH speed limit on electric bikes

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It's official: NYC will impose a new 15 MPH speed limit on electric bikes

New York City officials are preparing to roll out a new speed limit for electric bikes – and it’s not exactly a green light. Under the newly announced plan, the city will soon set a 15 mph (25 km/h) speed cap for all e-bikes, as part of a broader crackdown aimed at addressing rising concerns about sidewalk safety, delivery rider behavior, and e-bike-related crashes.

The plan was announced by Mayor Adams yesterday, as reported in the New York Daily News.

“I have heard, over and over again, from New Yorkers about how their safety — and the safety of their children — has been put at risk due to speeding e-bikes and e-scooters,” Adams said in a statement. “Today, our administration is saying enough is enough: We are implementing a new 15 MPH speed limit for e-bikes and e-scooters that will make our streets safer.”

The 15 mph speed limit would be the lowest in a major US city, and matches the speed limit for electric bikes in most of Europe, where legal e-bikes are capped at 25 km/h.

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Previously, New York City had limited electric bikes to 25 mph (40 km/h), though the legal limit for e-bikes in most of the US is 28 mph (45 km/h) under Class 3 designation (e-bikes without throttles). For e-bikes with throttles, most states enforce a 20 mph (32 km/h) limit.

The plan caught e-bike rideshare companies like Lyft off-guard, with no apparent heads-up that the company’s shared e-bikes operated in the city could no longer be legally ridden at their current top speeds.

E-bike usage in NYC has exploded in recent years, fueled by delivery workers, commuting cyclists, and recreational riders. But with that growth has come a wave of backlash from residents, particularly over sidewalk riding, accidents, and the occasional viral video of reckless behavior.

Critics argue that a hard 15 mph limit could unfairly penalize law-abiding riders while doing little to deter the actual bad actors. The vast majority of e-bike-related injuries in the city involve cars, not other bikes. And for delivery workers, many of whom depend on their e-bikes to make a living, lowering the speed limit could mean fewer deliveries and less income.

According to the city’s own data, motor vehicles remain the overwhelming cause of traffic fatalities and serious injuries in New York. E-bikes, while more visible and thus often scapegoated, are still far safer than cars when it comes to pedestrian impact and urban street use.

Even so, enforcement has increasingly focused on micromobility. The NYPD has recently stepped up a crackdown on e-bike riders, with claims that bike-related enforcement outstripping motor vehicle enforcement raising concerns that e-bike regulation is being driven more by optics than by actual risk data.

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BYD outsold Tesla in the UK last month and it’s catching up fast for the year

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BYD outsold Tesla in the UK last month and it's catching up fast for the year

BYD is making its presence felt in the UK after registrations jumped more than fivefold last month. The EV leader registered over 3,000 vehicles in May, overtaking Tesla, and is quickly closing in on its full-year sales. With its most affordable EV hitting the market, BYD is expected to gain even more ground this year.

BYD UK registrations top 3,000 in May 2025

According to the latest data from the Society of Manufacturers and Traders (SMNT), BYD registered 3,025 vehicles in the UK last month, up 407% from just 596 in May 2024.

Tesla, on the other hand, had just 2,016 vehicles registered in the UK last month, 36% fewer than it did in May 2024.

Through the first five months of the year, BYD has quickly closed the gap with Tesla, registering 14,807 vehicles. That’s up 570% from just 2,207 last year. Tesla has registered 15,002, 7.8% fewer than it did last year.

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Overall, new vehicle registrations rose 1.6% in the UK last month to 150,070 units. It was the UK’s best May sales month since 2021.

Plug-in hybrids (PHEVs) saw the highest growth with nearly 17,900 registrations, more than double the number from last year.

BYD-UK-registrations-May
BYD Dolphin Surf EV launch event (Source: BYD)

Registrations of fully electric vehicles (EVs) rose 25.8% to 32,728 units. Although EV market share rose to 21.8% in May, up from 17.6% last year, registrations are still well below the UK’s mandated level. Through the first five months of the year, EVs hold a 20.9% market share, which is far off the 28% target set by regulation.

Heavy discounts helped drive registration growth, which SMNT said is “unsustainable for a sector already facing multiple cost pressures.”

BYD-Dolphin-Surf-EV
BYD Dolphin Surf EV for Europe (Source: BYD)

BYD already registered more vehicles in Europe than Tesla in April, and its best-selling (and cheapest) EV is just arriving.

Last month, BYD launched the Dolphin Surf, the European version of its top-selling Seagull EV in China, which retails for under $10,000 in its home market. The company sold over 60,100 Seagull models in China last month alone.

BYD-Europe-EV-registrations
BYD’s wide-reaching electric vehicle portfolio (Source: BYD)

The standard range model starts at around 23,000 euros ($26,000) with a WLTP driving range of 220 km (137 miles). A longer-range variant is available, starting at 24,990 euros, and has a 507 km (315 miles) range.

Electrek’s Take

With new entry-level models, luxury vehicles, midsize SUVs, and more rolling out, will BYD surpass Tesla this year in the UK and Europe? It looks likely.

S&P Global Mobility forecasts that BYD’s sales in Europe will double this year to around 186,000. By 2029, its sales could reach around 400,000. Even with tariffs, the report notes that the Dolphin Surf’s “pricing strategy ensures competitiveness in the EU.”

The low-cost EV is likely to play a significant role as BYD emerges as a genuine threat in the UK and Europe. We will learn more soon. Check back soon for the latest updates.

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