SFC ranking member Wyden and 25 other Democrats (including minority leader Schumer) introduced tech-neutral energy legislation this week. The bill includes energy storage provisions. Following is a summary followed by summaries pertaining to energy storage. The legislation would consolidate 44 energy incentives into three tech-neutral provisions to promote energy independence and a low-carbon economy. All of the original co-sponsors are Democrats. The roll out of the legislation was accompanied by supporting statements from about a dozen supporting organizations.Read More
We invite you to join us for GTM Squared’s Blockchain in Energy Forum on March 7, 2018 live in New York City and available to stream online. Washington, D.C. associate and co-author of The Blockchain Energizer, Benjamin Tejblum, will be presenting on the implementation of blockchain and how to best navigate regulations and new business models. Additional topics to be covered will include a discussion on distributed ledger technologies, re-envisioning the future, enabling a transactive grid, and optimizing operations and identifying new opportunities.
Please note you must be a member of GTM Squared to participate.
There is a lot of buzz around blockchain technology and its potential to revolutionize a wide range of industries from finance and health care to real estate and supply chain management. Reports estimate that over $1.4 billion was invested in blockchain startups in 2016 alone, and many institutions and companies are forming partnerships to explore how blockchain ledgers and smart contracts can be deployed to manage and share data, create transactional efficiencies, and reduce costs.
While virtual currencies and blockchain technology in the financial services industry have been the subject of significant debate and discussion, blockchain applications that could transform the energy industry have received comparatively less attention. Every other week, K&L Gates Blockchain Energizer will highlight emerging issues or stories relating to the use of blockchain technology in the energy space. To subscribe to the Blockchain Energizer newsletter, please click here.
IN THIS ISSUE
- Energy Web Foundation Launches Public Test of Its Energy Blockchain Network
- Pilot Project Launches to Use Energy Storage and Blockchain to Balance the Grid
- At COP 23, the Climate Ledger Initiative Focuses on How Blockchain Can Support Paris Agreement
- Blockchain Platform for Commodities Trading Under Development
To view more information on theses topics in Volume 17 of the Blockchain Energizer, click here.
Last Thursday, July 3rd, the Department of Energy (DOE) issued its finalized loan guarantee solicitation for renewable energy and energy efficiency projects. DOE made $2.5 billion in loan guarantee authority directly available through the solicitation, but indicated that an expansion of this financing up to $4 billion is possible depending on how much it can stretch an appropriated credit subsidy on applications. This suite of loan guarantees has been a highly sought after item as Secretary Ernest Moniz and other DOE officials have repeatedly stressed the Department’s focus on renewable and energy efficiency research and financing. DOE support for research and investment in these areas can be seen as an extension of the President’s Climate Action Plan, as the Administration strives to cut carbon emissions. Read More
On Friday, President Obama announced private sector goals and commitments for solar installation, applauded those private financial institutions which are “leading the way” on solar and renewable investments, and announced a series of “executive actions” which the Administration is taking to stimulate the use of energy efficiency and renewable energy technologies. Read the White House Fact Sheet here.
The President’s announcement came in the middle of Senate debate on the Shaheen-Portman energy efficiency bill which has been stalled for years in the US Senate. And again this week, because of issues unrelated to energy efficiency, it appears that the bill will not advance. The Administration has clearly decided – as they have on other energy and environment issues – to take steps which do not need Congressional action in order to advance the President’s energy agenda. Read More
After years of negotiations, the United States House and Senate have passed a comprehensive Farm Bill which will be signed into law by President Obama on February 7 at Michigan State University, the alma mater of Senate Agriculture Committee Chair Debbie Stabenow (D-MI). On February 4, the Senate voted 68-32 to approve the five-year authorization bill, formally titled the Agriculture Act of 2014. The House passed the legislation last week.
While the bill predictably includes provisions which impact farm programs and also authorizes nutrition programs, in addition, it includes an Energy Title which provides support to many feedstock growers as well as traditional farmers who improve the energy efficiency of their operations.
The other day I attended the launch of a new energy efficiency initiative in Dubai. The Government of Dubai has ambitions to achieve substantial savings in the consumption of energy and water over the next 15 years. It aims to encourage the retrofitting of some 30,000 government and private sector buildings and public areas with energy efficient appliances, equipment and materials covering lighting, cooling, water, industrial processes and building insulation. It is also targeting efficiencies in district cooling through regulation and greater system connectivity. To this end a new “ESCO” (Energy Service Company) industry is being created under the regulatory oversight of the Dubai Regulatory & Supervisory Bureau. As a catalyst for the evolution of this new market, Dubai Electricity & Water Authority (DEWA) has established Etihad ESCO, an ESCO that will help promote energy efficiency projects for government departments and agencies. Read More