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LONDON — U.S. Energy Secretary Jennifer Granholm has called on oil-producing nations to immediately increase crude supplies to mitigate the surging cost of living.

On Thursday, oil cartel OPEC and its allies agreed to continue with their current output plan, deciding against loosening the taps despite U.S. pressure to help cool the market.

Oil prices have recently hit their highest levels since 2014, and crude-importing countries are feeling the pain. It’s boosted gasoline prices and has added to surging inflation rates around the globe, with consumers already paying more due to supply bottlenecks in the economy.

Asked by CNBC about the U.S.’s relationship with Saudi Arabia, the de-facto leader of OPEC, after the output decision, Granholm said: “In some places, we have strong relationships and in some places we wish our allies would move a little faster.”

“The message is we need to increase supply at this moment so that people will not be hurt during the winter months,” she told CNBC’s Steve Sedgwick on Friday at the COP26 climate summit in Glasgow, Scotland.

President Joe Biden has squarely blamed the reluctance of OPEC and its allies, known as OPEC+, to pump more oil for the sharp rise in energy prices in the U.S. and around the world.

“The idea that Russia and Saudi Arabia and other major producers are not going to pump more oil so people can have gasoline to get to and from work, for example, is not right,” Biden said Sunday at the G-20 meeting in Rome.

OPEC+ decided to rollover its August plan to gradually increase oil production by 400,000 barrels per day each month. Ministers attending the meeting on Thursday said the group was maintaining market balance and remaining wary of potential changes in demand.

Several of the ministers also pointed to the skyrocketing prices of other commodities such as gas and coal to argue that oil markets are lucky to have OPEC+ regulating supply.

International oil benchmark Brent crude was trading at $80.80 per barrel at 7:30 a.m. ET on Friday, up 27 cents from the previous day.

It was also put to Granholm that domestic oil production in the U.S. had abated over the last couple of years, even prior to the Covid pandemic, due to a lack of investment incentives.

“I don’t know why at $80 a barrel those incentives are not there,” she said.

“During Covid, it was down — they backed off because demand was not there because people were staying home, we know that. Now that things are back up, the production should be meeting that [demand], there has been rigs that have been added but not fully,” she added.

—CNBC’s Natasha Turak and Anmar Frangoul contributed to this article.

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This new solar + storage site will help power the Las Vegas Strip

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This new solar + storage site will help power the Las Vegas Strip

The Escape Solar and Storage project in Lincoln County, Nevada, will send clean power to big resort customers on the Las Vegas Strip. 

Reno-based Estuary Power, Escape’s developer, closed a $340 million financing package for the solar and storage project in late December 2024. 

Escape includes 185 megawatts (MW) of JinkoSolar PV capacity and 400 megawatt-hours (MWh) of Tesla battery storage capacity. 

Escape will supply 115 MW of solar and 400 MWh of battery energy storage to MGM Resorts International, 25 MW to Caesars Entertainment, 20 MW to Wynn Las Vegas, and 25 MW to Overton Power District under long-term agreements.

MGM Resorts International has set a goal to source 100% of its energy from renewables by 2030. Las Vegas resorts are required to comply with Nevada’s Renewable Portfolio Standard (RPS), which aims to increase the percentage of renewable energy to 50% by 2030. However, many resorts have already exceeded the 40% renewable energy requirement set by the state. The Venetian and Sands Expo and Convention Center partnered with NV Energy to procure renewable energy certificates to cover 100% of its electricity use.

Jill Daniel, CEO of majority woman-owned Estuary Power, said, “We look forward to supplying renewable energy to the iconic Las Vegas Strip and to our valued partner Overton Power District. We are thankful for the support of our financing partners in making the Escape project a reality.”    

The project is the first utility-scale solar project to be developed in Lincoln County, just north of Las Vegas, where it will generate nearly $80 million in tax revenue for the county over its life span. It’s currently under construction and will begin operating in 2025.

Las Vegas is second in the US for solar capacity per capita.

Read more: This Florida solar farm is supplying clean energy to 12 cities


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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*

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Aptera signs LG as battery supplier for its solar electric car

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Aptera signs LG as battery supplier for its solar electric car

Aptera has signed a memorandum of understanding with LG Energy Solutions to supply batteries for its solar EV, which it says will start deliveries later this year.

Aptera is at CES this week, showing off it’s production-intent solar EV. We stopped by the booth for a few pictures, but beyond that, there wasn’t a lot new to announce.

But that changed today, as Aptera has now officially announced that it’s partnering with LG Energy Solutions as the exclusive supplier for battery cells for the Aptera solar EV, and CTNS for battery pack assembly.

Aptera said this partnership accomplishes three goals:

  • Enhance Aptera’s production capacity through a reliable and scalable battery supply chain. 
  • Solidify LG Energy Solution’s market presence as a trusted supplier.   
  • Strengthen CTNS’s reputation as a key manufacturing partner in the U.S. market. 

The agreement runs from 2025 to 2031, with LG supplying 2170-format cylindrical cells for battery modules and packs that will be assembled by CTNS and designed by Aptera.

The agreement covers 4.4GWh of battery capacity supply. Given that the Aptera has a 44kWh, 400-mile battery pack (at least at launch, other options might be available at some point), that’s enough for a total of 100,000 vehicles – quite a lofty goal for a rather small company that is relying on crowdfunding and has not yet shipped a car.

“This partnership represents a significant milestone in bringing our solar electric vehicles to market with the reliability and performance our customers expect. LG Energy Solution and CTNS bring unparalleled expertise, and we’re excited to work together to power the future of sustainable transportation.”

-Chris Anthony, Co-CEO of Aptera Motors

LG is one of the largest EV battery cell manufacturers in the world, and the largest outside China. The largest is CATL, but that company has found itself on a US blacklist.

As part of Aptera’s CES announcements, it reaffirmed that it plans to deliver its first vehicles by the end of this year, showed off the production configuration of its solar panels covering the hood, dash, roof and hatch of the vehicle, and said that it drove the car for 20 miles on a Las Vegas winter day and ended up with more charge than it had when it started. You can read more about Aptera’s CES show presence on our previous coverage here.

Aptera says it has 50,000 reservations for its vehicle, at $100 a pop (or $70, if you use our Aptera referral link). You can reserve an Aptera over at Aptera’s website.


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Mazda is bringing this $20,000 Chinese EV overseas, but prices will be much higher

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Mazda is bringing this ,000 Chinese EV overseas, but prices will be much higher

The electric Mazda 6 predecessor is headed for Europe this summer. Mazda’s EV starts at around $20,000 in China, but prices are expected to be significantly higher in Europe. Here’s what we know about the Chinese-made EV so far.

When will Mazda launch its $20,000 EV overseas?

Mazda unveiled the EZ-6 at the Beijing Auto Show alongside the Arata SUV last April. The EZ-6 is the all-electric predecessor to the Mazda 6 sedan.

Mazda’s Chinese joint venture, Changan Mazda, has been selling the EZ-6 in China since October. The electric sedan, which starts at just 139,800 yuan, or around $19,200, is already off to a hot sales start.

With nearly 2,500 models sold in November, its first sales month, Changan Mazda said the EZ-6 was among the top three mid-size new energy vehicle (NEV) sedans of joint ventures sold in China. According to Nikkei, Mazda will export the $20,000 EV to Europe starting this summer.

Based on Changan Auto’s hybrid platform, the EX-6 is available in EV and extended-range configurations in China. The all-electric version has a CLTC range of up to 600 km (372 miles).

Mazda-$20,000-EV
Mazda EZ-6 (Source: Changan Mazda)

The electric Mazda EZ-6 is 4,921 mm long, 1,890 mm wide, and 1,485 mm tall with a wheelbase of 2,895 mm, or about the size of a Tesla Model 3 (4,720 mm long, 1,922 mm wide, and 1,441 mm tall with a 2,875 mm wheelbase).

Inside, the EZ-6 has a modern cabin setup with 14.6″ infotainment and 10.1″ driver display screens. It also includes premium features like a 50″ AR head-up display and zero-gravity reclining seats.

Mazda-$20,000-EV-interior
Mazda EZ-6 interior (Source: Changan Mazda)

The imported model will feature improved stability and control for high-speed driving on European roads. Mazda will showcase the updated EZ-6 at the Brussels Motor Show, which kicks off on Friday.

Like many automakers, Mazda is looking to meet the EU’s Zero Emission Vehicle (ZEV) mandates and avoid heavy fines. However, after the EU increased tariffs on Chinese EV imports to as much as 45.3%, Mazda will still have to pay the price.

Mazda-$20,000-EV
Mazda EZ-6 electric sedan (Source: Changan Mazda)

China’s SAIC was hit the hardest with an extra 35.3% duty, while Geely (18.8%) and BYD (17%) were at the lower end. Other cooperating companies are subject to a 20.7% tariff, while non-cooperating automakers will have a duty of 35.3%.

Earlier this week, we learned Mazda will build a new module battery plant in Japan to supply its first dedicated EV. Although no details were revealed about the dedicated EV, Mazda said it will be powered by a new electric vehicle platform. The company aims to launch the new platform in 2027. Stay tuned for more.

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