Hell froze over in Texas – the state will connect to the US grid for the first time via a fed grant
The US Department of Energy (DOE) announces $1.5B for four transmission projects – including connecting the Texas grid to the rest of the US for the first time ever.
The projects, spanning multiple states, will add nearly 1,000 miles of new transmission lines and increase grid capacity by 7,100 megawatts (MW). They’ll boost grid reliability, lower energy costs, and support the clean energy transition.
The projects will improve transmission congestion and resilience, especially as the country faces more extreme weather events. By improving connections between regions and making it easier to access renewable energy sources like wind and solar, these projects will make energy more reliable and cost-effective. They’ll also generate nearly 9,000 jobs, supporting local economies in Louisiana, Maine, Mississippi, New Mexico, Oklahoma, and Texas.
In addition to the transmission projects, the DOE released its National Transmission Planning Study, which outlines a long-term vision for meeting future energy needs through 2050. The study highlights the need to double or triple transmission capacity from 2020 levels to ensure reliability and resilience as the energy landscape shifts toward renewables. Here’s a breakdown of the four projects:
- Aroostook Renewable Project (Maine): This 111-mile transmission line with a capacity of 1,200 MW will connect a new substation in Haynesville, Maine, to the larger New England grid, providing access to clean energy from northern Maine. It’s expected to create over 4,200 construction jobs and 30 permanent jobs.
- Cimarron Link (Oklahoma): A 400-mile HVDC line will run from Texas County to Tulsa, moving 1,900 MW of clean wind and solar power to growing load centers in eastern Oklahoma and elsewhere in the Southwest Power Pool. This project will create 3,600 construction jobs and 20 permanent roles.
- Southern Spirit (Texas to Mississippi): This is a REALLY. BIG. DEAL. Spanning 320 miles, this HVDC line will link Texas’ isolated ERCOT grid with the Southeast grids for the first time, adding 3,000 MW of bidirectional capacity across Texas, Louisiana, and Mississippi. It’s designed to prevent outages like the ones during Winter Storm Uri that hit Texas hard in 2021. It’s expected to create 850 construction jobs and 305 permanent jobs.
- Southline (New Mexico): A 108-mile transmission line will provide 1,000 MW of new bidirectional capacity between Hidalgo County and Las Cruces. It will help meet energy needs of industries investing in the region, including semiconductor, battery manufacturing, and data center facilities. The project will create at least 150 construction jobs.
US Deputy Secretary of Energy David Turk said, “DOE’s approach to deploying near-term solutions and developing long-term planning tools will ensure our electric grid is more interconnected and resilient than ever before, while also supporting greater electricity demand.”
Read more: How EVs were a lifeline for 3 families (and 6 cats) during the Texas blackout
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Tesla’s Q2 results are in, and they are way, way down from Q2 of 2024. At the same time, Nissan seems to be in serious trouble and the first-ever all-electric Dodge muscle car is getting recalled because its dumb engine noises are the wrong kind of dumb engine noises. All this and more on today’s deeply troubled episode of Quick Charge!
We’ve also got an awesome article from Micah Toll about a hitherto unexplored genre of electric lawn equipment, a $440 million mining equipment deal, and a list of incompetent, corrupt, and stupid politicians who voted away their constituents’ futures to line their pockets.
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OpenAI is distancing itself from Robinhood‘s latest crypto push after the trading platform began offering tokenized shares of OpenAI and SpaceX to users in Europe.
“These ‘OpenAI tokens’ are not OpenAI equity,” OpenAI wrote on X. “We did not partner with Robinhood, were not involved in this, and do not endorse it.”
The company said that “any transfer of OpenAI equity requires our approval — we did not approve any transfer,” and warned users to “please be careful.”
Robinhood announced the launch Monday from Cannes, France, as part of a broader product showcase focused on tokenized equities, staking, and a new blockchain infrastructure play. The company’s stock surged above $100 to hit a new all-time high following the news.
“These tokens give retail investors indirect exposure to private markets, opening up access, and are enabled by Robinhood’s ownership stake in a special purpose vehicle,” a Robinhood spokesperson said in response to the OpenAI post.
Robinhood offered 5 euros worth of OpenAI and SpaceX tokens to eligible EU users who signed up to trade stock tokens by July 7. The assets are issued under the EU’s looser investor restrictions via Robinhood’s crypto platform.
“This is about expanding access,” said Johann Kerbrat, Robinhood’s SVP and GM of crypto. “The goal with tokenization is to let anyone participate in this economy.”
The episode highlights the dynamic between crypto platforms seeking to democratize access to financial products and the companies whose names and equity are being represented on-chain
U.S. users cannot access these tokens due to regulatory restrictions.
Despite the warnings, BYD continues introducing new discounts. On Wednesday, BYD’s luxury off-road brand began offering over 50% Huawei’s smart driving tech.
BYD introduces new discounts on smart driving tech
After BYD cut prices again in May, the China Automobile Manufacturers Association (CAMA) warned that the ultra-low prices are “triggering a new round of price war panic.”
Although they didn’t single out BYD, it was pretty obvious. BYD slashed prices across 22 of its vehicles by up to 34%, triggering several automakers to follow suit in China.
BYD’s cheapest EV, the Seagull, typically starts at about $10,000 (66,800 yuan). After the price cuts, the Seagull is listed at under $8,000 (55,800 yuan).
It doesn’t look like China’s EV leader plans to slow down anytime soon. Fang Cheng Bao, BYD’s luxury off-road brand, introduced new discounts on Huawei’s smart driving tech on Wednesday.
The limited-time offer cuts the price of Huawei’s Qiankun Intelligent Driving High-end Function Package to just 12,000 yuan ($1,700).
Buyers who order the smart driving tech in July will save over 50% compared to its typical price of 32,000 yuan ($4,500).
Earlier this year, Fang Chang Bao launched the Tai 3, its most affordable vehicle, starting at 139,800 yuan ($19,300). The Tai 3 is about the size of the Tesla Model Y, but costs about half as much.
The Tai 3 will spearhead a new sub-brand of electric SUVs following the more premium Bao 8 and Bao 5 hybrid SUVs.
BYD’s luxury off-road brand sold 18,903 vehicles last month, up 50% from May and 605% compared to last year. Fang Cheng Bao has now sold over 10,000 vehicles for three consecutive months.
The Chinese EV giant sold 382,585 vehicles in total in June, an increase of 12% from last year. In the first half of the year, BYD’s cumulative sales reached over 2.1 million, a YOY increase of 33%.
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