NYPA Board of Trustees Approves Inaugural Strategic Plan for New Renewable Energy Generation in New York State
Renewables Strategic Plan Details First Tranche of Projects Across New York, Enough to Power 2.5 to 3 Million Homes Plan Stems From 2023-24 State Budget Enactment for Expanding NYPA’s Renewable Power Role WHITE PLAINS—The New York Power Authority (NYPA) Board of Trustees today approved its first strategic plan for expanding renewable energy resources in New York State to advance Governor Kathy Hochul’s nation-leading climate agenda. The NYPA Renewables Strategic Plan includes de...
Researchers from Incheon National University Propose Novel Approaches for Improved Microgrid Management
"Rural electricity" by kevin dooley A new optimization model improves microgrid operation, enhancing energy efficiency and ensuring reliable power supply Scientists at Incheon National University have developed a new optimization model to improve microgrid operation. This model adapts to unexpected changes in power supply and demand, ensuring stable and efficient energy systems. By addressing challenges like power outages and varying energy needs, this approach enhances the reli...
Hydrogen economy development enters critical phase, says GlobalData
The hydrogen economy has recently experienced some hiccups in its growth story. Apparently, demand for this commodity is not rising at the pace it was envisaged back in 2020 when companies had aggressively announced their energy transition plans. As more industries, such as steel, transportation, and power, try to decarbonize their operations, the demand for low-carbon hydrogen is expected to grow. Nevertheless, the hydrogen economy is currently in its critical phase of its development, says Glo...
Global Grid Digitalization Investment to Hit US$150 Billion by 2030 Amid Growing Demand for Energy Capacity and Flexibility
Investments in energy grid modernization and digitalization have not kept pace with energy demands and requirements over the past years. Given rapid electrification and the ongoing energy transition toward net zero, spending on grid digital transformation needs to accelerate. According to a new report from global technology intelligence firm ABI Research, aggregated worldwide investments in grid digitalization will grow from US$81 billion in 2024 to US$152 billion in 2030. “The benefits of t...
ASME Joins GEODE Consortium to Help Accelerate Development of Geothermal Energy
NEW YORK – The American Society of Mechanical Engineers (ASME) today announced it has joined the Geothermal Energy from Oil and Gas Demonstrated Engineering (GEODE) consortium, and that Madeleine Kopp, the Society’s new sustainability program manager, will chair the GEODE consortium’s Production and Operations Task Force in the Technology Roadmapping Working Group. GEODE is a consortium led by Project InnerSpace and the Society of Petroleum Engineers (SPE) and funded by the U.S. Department of...
Morningstar DBRS Comments on MISO's Historic $22 Billion Regional Transmission Plan
Key Highlights • We expect the credit impact of Tranche 2.1 on utility companies to be neutral, provided that they can finance the capex and maintain their debt-to-capital ratios in alignment with the regulatory capital structure. • MISO’s alignment with FERC Order No. 1920 should benefit transmission owners. • Legal challenges to right of first refusal laws could create delays. • Uncertainty on decarbonization policies could weaken cost-benefits On December 12, 2024, the Midcontinent In...
Biden-Harris Administration Announces Three High-Priority Areas Advancing in National Interest Electric Transmission Corridor Designation Process
DOE Seeks Public Input on Proposed Public Engagement Framework and Possible Scope of Analysis for Areas Moving to Phase 3 of Designation Process WASHINGTON, D.C. — In a continued effort to expedite the build out of a resilient and reliable electric grid, today the U.S. Department of Energy (DOE) released a list of three potential National Interest Electric Transmission Corridors (NIETCs) moving to the next phase of the designation process. A NIETC is an area of the country where DOE has...
Morningstar DBRS Comments on Impact of Potential U.S. Tariffs or Electricity Export Ban on Ontario Independent Power Producers
Key Highlights • Ontario Premier Doug Ford has threatened to cut off electricity supply to the United States if it imposes a blanket 25% tariff on Canadian goods. • If the tariff or the electricity export ban occurs, we do not expect either to materially affect most power producers with operations in Ontario. • However, we believe that either scenario would decrease the efficiency of electricity systems in both Ontario and connected U.S. states, which would increase overall electricity syste...
Amid Planning for $20 Billion Magma Powered-Powered AI Data Center, Magma Power LLC Is Granted Its 14th U.S. Patent On Revolutionary Green Baseload Energy Source
Magma Power is Inevitable. It's not a question of if magma power will power the Earth – but when. NEW YORK - Magma Power LLC, a global developer and licensor of Magma Power™ technology, proudly announces that is has been granted its 14th U.S. Patent on its revolutionary magma power technology. "We are in preliminary discussions to use Magma Power™ technology to build the world's largest AI data center powered entirely by renewable energy," says Richard McDonald, Chief Strategy Officer of...
Trane and Northern Illinois University Kick Off Energy-Saving Program for a More Sustainable Future
Northern Illinois University (NIU) campus in DeKalb, Ill. Innovative upgrades will reduce NIU energy consumption by more than 26%, supporting the university’s 2030 Sustainability and Climate Action Plan DAVIDSON, N.C. – Trane® – by Trane Technologies (NYSE: TT), a global climate innovator, announces that energy-saving infrastructure upgrades are underway at the Northern Illinois University (NIU) campus in DeKalb, Ill. Trane, a leader in building and energy solutions, is collabora...