Thanks to wind and solar, Texas has kept the power on and the costs down
Wind, solar, and nuclear generated up to 55% of total power in Texas in the record-breaking end-of-June heat – keeping the natural gas share below 50%.
Natural gas has ordinarily been the most common source of electricity generation in Texas, but wind, solar, and, to a lesser degree, nuclear are playing a major role in keeping the power on in the extreme heat, reports the US Energy Information Administration (EIA).
The fuel mix in Texas has rapidly changed – Texas is No 1 in the US for having the most wind and solar capacity. More than 4 gigawatts (GW) of wind and solar were added in the Lone Star State between September 2022 and May 2023. Texas’s population is growing, so increased electricity demand raised concerns about whether or not dispatchable generation could meet electric demand during heat waves.
Texas grid operator ERCOT’s record for hourly demand was 79,830 megawatt-hours (MWh) on July 20, 2022. That record was broken between June 26 and 29 this year, and the highest demand hour for each of those days was more than 80,000 MWh.
Wind, solar, and nuclear contributed as much as 55% of total generation on June 28 and 29, and between 43–47% in the evening peak load hours of 4-8 pm – enough to keep the natural gas share below 50% of the fuel mix during those hours.
In prior periods of high demand, such as in August 2019 and August 2022, reports the EIA, non-fossil fuel resources never reached more than 50% of total generation in ERCOT.
On days when wind generation continued to be high through the afternoon – when demand for cooling is still high but solar generation drops off – electricity prices were elevated but were much lower than the $500 per MWh and above levels in the August 2019 and August 2022 heat waves.
In August 2019, for example, day-ahead wholesale electricity prices in ERCOT’s Houston zone averaged $172 per MWh from 6-9 pm CT for the entire month, and $112 per MWh in August 2022. In comparison, average prices during daylight hours for the recent heat wave were $79 per MWh, much closer to the average July price of $64 per MWh in Houston for 2019 to 2022, when demand was elevated but below record highs. This year’s record-breaking demand in June and July surpassed peak loads from prior Augusts – a month that tends to be hotter than June or July.
Read more: Texas solar and wind are setting records, and the state’s grid can’t handle it
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A fully electric Japanese electric pickup truck? It’s not a Toyota or Honda, but Isuzu’s new electric pickup packs a punch. The D-MAX EV can tow over 7,770 lbs (3,500 kg), plow through nearly 24″ (600 mm) of water, and it even has a dedicated Terrain Mode for extreme off-roading. However, it comes at a cost.
Meet Isuzu’s first electric pickup: The D-MAX EV
After announcing that it had begun building left-hand drive D-MAX EV models at the end of April, Isuzu said that it would start shipping them to Europe in the third quarter.
By the end of the year, Isuzu will begin production of right-hand drive models for the UK. Sales will follow in early 2026.
Isuzu announced prices this week, boasting the D-MAX EV features the same “no compromise durability” of the current diesel version.
The D-MAX EV pickup features a full-time 4WD system, a towing capacity of up to 3.5 tons (7,700 lbs), and an added Terrain Mode, which Isuzu says is designed for “extreme off-road capability.” With 210 mm (8.3″) of ground clearance, Isuzu’s electric pickup can wade through up to 600 mm (24″) of water.
Powered by a 66.9 kWh battery, Isuzu’s electric pickup offers a WLTP range of 163 miles. With charging speeds of up to 50 kW, the D-MAX EV can recharge from 20% to 80% in about an hour.
The electric version is nearly identical to the current diesel-powered D-Max, both inside and out, but prices will be significantly higher.
| Isuzu D-Max EV specs and prices | |
| Drive System | Full-time 4×4 |
| Battery Type | Lithium-ion |
| Battery Capacity | 66.9 kWh |
| WLTP driving range | 163 miles |
| Max Output | 130 kW (174 hp) |
| Max Torque | 325 Nm |
| Max Speed | Over 130 km/h (+80 mph) |
| Max Payload | 1,000 kg (+2,200 lbs) |
| Max Towing Capacity | 3.5t (+7,700 lbs) |
| Ground Clearance | 210 mm |
| Wading Depth | 600 mm |
| Starting Price (*Ex. VAT) | £59,995 ($81,000) |
Isuzu’s electric pickup will be priced from £59,995 ($81,000), not including VAT. The double cab variant starts at £60,995 ($82,500). In comparison, the diesel model starts at £36,755 ($50,000).
The EV pickup will launch in extended and double cab variants with two premium trims: the eDL40 and V-Cross. Pre-sales will begin later this year with the first UK arrivals scheduled for February 2026. Customer deliveries are set to follow in March.
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In this photo illustration, Claude AI logo is seen on a smartphone and Anthropic logo on a pc screen. (Photo Illustration by Pavlo Gonchar/SOPA Images/LightRocket via Getty Images)
Sopa Images | Lightrocket | Getty Images
OpenAI and Anthropic continue to lead a fundraising bonanza in artificial intelligence, raising historic rounds and stratospheric valuations.
But when it comes to finding AI exits for venture firms, the market looks a lot different.
AI startups raised $104.3 billion in the U.S. in the first half of this year, nearly matching the $104.4 billion total for 2024, according to PitchBook. Almost two-thirds of all U.S. venture funding went to AI, up from 49% last year, PitchBook said.
The biggest deals follow a familiar theme. OpenAI raised a record $40 billion in March in a round led by SoftBank. Meta poured $14.3 billion into Scale AI in June as part of a way to hire away CEO Alexandr Wang and a few other top staffers. OpenAI rival Anthropic raised $3.5 billion, while Safe Superintelligence, a nascent startup started by OpenAI co-founder Ilya Sutskever, raised $2 billion.
While Meta’s massive investment into Scale AI amounted to a lucrative exit of sorts for early investors, the overarching trend has been a lot more money going in than coming out.
In the first half, there were 281 VC-backed exits totaling $36 billion, according to PitchBook. That includes the roughly $700 million acquisition of EvolutionIQ, an AI platform for disability and injury claims management, by CCC Intelligent Solutions, and the public listing of Slide Insurance, which builds AI-powered insurance offerings for homeowners. Slide is valued at about $2.3 billion.
“The dominant exit trend right now is frequent but lower-value acquisitions and fewer IPOs with significantly higher value,” said Dimitri Zabelin, PitchBook’s senior research analyst for AI and cybersecurity.
CoreWeave’s IPO, which took place at the very end of the first quarter, was the exception on the infrastructure side. The stock shot up 340% in the second quarter, and the company is now valued at over $63 billion.
Zabelin said the pattern of more investments in applications with smaller deals has been in place for the past year.
“Vertical solutions tend to plug more easily into existing enterprise gaps,” Zabelin said.
The acquisitions wave is being driven, in part, by what Zabelin calls bolt-on deals where larger companies buy smaller startups to enhance their own future valuations, hoping to enhance their value ahead of a future sale or IPO.
“That also has to do with the current liquidity conditions in the macro environment,” Zabelin said.
Outside of AI, activity is slow. U.S. fintech funding dropped 42% in the first half of the year to $10.5 billion, according to Tracxn. Cloud software and crypto have also seen sharp pullbacks.
Zabelin said IPO activity could pick up if economic conditions improve and if interest rates come down. Investors clearly want opportunities to back promising AI companies, he said.
“The appetite for AI, specifically vertical applications, will continue to remain robust,” Zabelin said.
— CNBC’s Kevin Schmidt contributed to this report.
Tesla (TSLA) sales are down 21% in California, the largest EV market in the US, and this decline is dragging the entire EV market down.
California accounts for roughly a third of EV sales in the US, making it the most significant electric vehicle market in America.
Tesla has dominated the EV market in California, but its market share has been in clear decline since 2024.
Today, the California New Car Dealers Association (CNCDA) released its Q2 2025 report and confirmed that Tesla’s sales fell 21% during the quarter.
Tesla delivered 41,138 electric vehicles in California in Q2 2025 – down from 52,000 units during the same period last year.
It has now been 7 quarters in a row of year-over-year decline and 4 quarters in a row of quarter-to-quarter decline:
CNCDA said that Tesla’s performance is pulling the entire EV market down in California:
Seven appears unlucky for Tesla, as this is the most recent number of quarterly registration declines reported in the state. The electric-only automaker experienced an 18.3 percent drop in registrations compared to the first half of 2024. The direct-to-consumer automaker lacks a robust dealership network for sales support, which may have contributed to a 2.7 point decline in its market share year-to-date, with Q2 alone seeing a 2.9 point decrease. This decline pulled down the overall Zero Emission Vehicle (ZEV) share in the state, which fell to 18.2 percent this quarter and 19.5 percent year-to-date, down from 22.0 percent in 2024.
Wherever Tesla is underperforming, CEO Elon Musk likes to claim that it’s the whole market that is underperforming, but he can’t claim that in California, as most other brands are seeing significant growth in California year-to-date:
This includes luxury brands such as BMW, Mercedes, Cadillac, Genesis, and Acura, which directly compete with Tesla.
Tesla’s troubles in California might be only starting as the automaker is currently in court in California fighting the state’s DMV, which is suing the company for false advertising of its Autopilot and Full Self-Driving features.
The state is even suing to suspend Tesla’s dealer license in California, which would force the automaker to stop selling cars in the biggest EV market in the US.
Electrek’s Take
For Tesla’s sales report in Q2 to make sense, Tesla needed to increase quarter-to-quarter deliveries in the US.
We still don’t have the data on that yet, but we do for its biggest market in the US: California.
In California, Tesla delivered approximately 1,000 fewer vehicles in Q2 compared to Q1, despite the availability of the new Model Y.
Every hard data that we get about Tesla’s sales and demand is terrible lately and the CEO’s answer to this clear trend is that “it doesn’t matter because autonomy is around the corner.”
Considering he has been wrong about Tesla solving autonomy for the last decade, and Tesla has launched a “Robotaxi” service with a safety supervisor in the car, à la Waymo circa 2020, it’s hard to take him seriously.
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