Kentucky’s largest utility requested a nine-fold increase in solar and battery storage, and the state’s regulators just approved it.
LG&E/KU’s big solar + battery bump
Louisville Gas and Electric and Kentucky Utilities (LG&E/KU) applied to the Kentucky Public Service Commission (PSC) to install 877 megawatts (MW) of solar generation and 500 MWh of battery storage, and the regulators approved it.
The utility also applied in May to retire seven fossil fuel-generated plants, and the PSC has approved closing five of those plants. Two coal-fired plants and three gas-powered units – Mill Creek 1 and 2, Haefling 1 and 2, and Paddy’s Run 12 – will be shuttered. LG&E/KU also applied to build two new gas-powered units.
This is the first time a new Kentucky law that requires utilities to get permission from regulators to retire fossil fuel plants has been put to the test.
This case demonstrates that under the new law, coal generation can still be retired while maintaining, and even improving, the reliability of the electric grid.
Sierra Club’s cross-examination in this case revealed that LG&E/KU’s rolling blackouts during Winter Storm Elliott were due in part to coal-fired generation failures in cold weather.
Electrek’s Take
This is a big deal for Kentucky because it’s been a solar laggard: It’s currently ranked 43rd among US states for solar capacity by the Solar Energy Industries Association (SEIA). But that’s about to change.
As of Q2 2023, according to the SEIA, the state had 165 MW of installed solar – a measly 0.32% of the state’s electricity is being powered by solar.
But the SEIA projects that Kentucky is gearing up for a big solar increase – 3,331 MW over the next five years, which would bump it to No. 17 in the US. And with this new announcement, 877 MW of new solar plus battery storage is in the bag.
It’s a shame that LG&E/KU is also going to build two new gas-powered plants, but this is historically a fossil fuel-producing state, after all. Rome wasn’t built in a day.
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David Bailey, CEO of media group BTC Inc., and a key crypto advisor to President Donald Trump, has raised $300 million to launch a publicly traded bitcoin investment company, CNBC has confirmed.
The deal, which has been in the works since January, consists of $200 million in equity funding and $100 million in convertible debt, according to a person familiar with the matter who asked not to be named because the fundraise hasn’t been announced. The Information was first to cover the story.
Bailey’s company is named Nakamoto, a tribute to the pseudonymous bitcoin creator Satoshi Nakamoto. It will focus on acquiring and holding bitcoin and is set to merge with an existing Nasdaq-listed company in a transaction that’s expected to be announced early next week, the person said. The company’s public listing is expected this summer.
Read more about tech and crypto from CNBC Pro
Nakamoto plans to buy companies around the world, including in Brazil, Thailand and South Africa, and invest its bitcoin into them, the source said. The venture is backed by a roster of well-known investors, with an advisory board that includes prominent figures, the person said.
Bitcoin investment firms raise large sums of money, often through a mix of equity and debt, to buy and hold bitcoin. Their stock becomes another way for investors to bet on the price of bitcoin.
Michael Saylor, founder of Strategy (formerly MicroStrategy), popularized the model, converting its cash reserves into bitcoin beginning in 2020. The move transformed the software company into a de facto bitcoin holding company, with the value of its stock soaring as bitcoin rallied. It’s now one of the world’s largest owners of bitcoin.
Jack Mallers, who rose to fame by launching the Strike payments app, has secured billions of dollars for his bitcoin-holding venture Twenty One, which is backed by SoftBank and Tether.
“What we really pride ourselves on is being blue-chip credibility with startup upside,” Mallers told CNBC’s Crypto World this week. “We feel like we’re big enough to win entering the market with billions of dollars of capital upon launch, but we’re small enough to grow and we’re small enough to post bitcoin-denominated returns in what’s becoming a really competitive capital markets appetite for bitcoin exposure.”
SSA Marine just pulled off a major clean energy win at the Port of Los Angeles. The global terminal operator has officially transitioned its entire fleet of forklifts at Berth 55 from propane to electric, making it the company’s first terminal to run 100% zero-emissions cargo handling equipment.
Berth 55 handles imported fruit from South America, and SSA Marine has operated there since the 1980s. Now, its 44 Hyster forklifts – 12 heavy-duty 10,000 lb. models and 32 3,000 lb. models – at the Port of LA are all electric. SSA Marine says the shift will cut propane use by around 44,000 gallons yearly and slash tailpipe carbon emissions by around 264 metric tons annually.
SSA Marine’s VP of sustainability, Meghan Weinman, said, “We are proud to partner with the Port of Los Angeles on this ambitious project, and we’re confident that Berth 55 will serve as a blueprint for future initiatives.”
The upgrade was a three-year effort between SSA Marine, the Port of LA, and several partners.
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Michael DiBernardo, deputy executive director at the port, said the achievement moves them closer to a big climate goal: making all yard equipment at the Port of LA emissions-free by 2030. “As a result of this initiative, SSA Marine has completed that goal five years ahead of schedule, which we appreciate.”
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.
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And so it begins. Ford is raising prices on several vehicles built in Mexico, including the Mustang Mach-E. Like most of the auto industry, Ford is bracing for the impacts of Trump’s tariffs.
Ford raises prices on vehicles built in Mexico over tariffs
Just days after the company said it expected Trump’s new auto tariffs would cost $2.5 billion this year, Ford is raising vehicle prices on Mexico-built models.
A spokesperson confirmed to Electrek that Ford is increasing prices on the Mustang Mach-E, Maverick pickup, and Bronco Sport, all made at its plant in Mexico. The spokesperson said the move comes as part of its “usual mid-year pricing actions combined with some tariffs we are facing.”
The price increases do not impact Ford vehicles at dealerships or on the way. They will go into effect on imported cars after May 2 or later. These vehicles will arrive at dealerships in late June.
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Despite this, Ford is still offering employee pricing on all of these models through July 4 as part of its “From America, For America” campaign, which is available on most 2024 and 2025 models.
2025 Ford Mustang Mach-E (Source: Ford)
Even with the upcoming price hikes, Ford said it has “not passed the full cost of tariffs on to our customers.” Although Ford didn’t share full pricing, the spokesperson said the Bronco Sport Heritage saw a $600 increase while the Maverick XLT AWD’s price increased by $700.
Like crosstown rival GM, Ford withdrew its financial guidance due to the uncertainty surrounding tariffs. GM estimates that the impact of Trump’s tariffs will cost even more this year, at around $4 billion to $5 billion.
2025 Ford F-150 Lightning (Source: Ford)
Since Ford has the highest percentage of vehicles built in the US of any major automaker, outside of Tesla, it isn’t expected to take as big of a hit.
Ford imports around 21% of the vehicles it sells in the US. GM, on the other hand, imports about 46% of the cars it sells in the US.
Ford Mustang Mach-E (left) and F-150 Lightning (right) (Source: Ford)
Ford is also offering a free Level 2 home charger on any new EV purchase or lease, including the F-150 Lightning, Mustang Mach-E, and E-Transit van. The “Power Promise” promo includes other helpful benefits, including 24/7 live EV support, proactive roadside assistance, and an 8-year, 100,000-mile battery warranty.
Ready to snag the savings while they are still here? We can help you get started. Check out our links below to find deals on new Ford F-150 Lightning and Mustang Mach-E models in your area.
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