Tech-neutral tax credits win over renewables backers

FINANCE: The U.S. Treasury Department releases rules governing ​“technology-neutral” tax credits for solar, wind, geothermal and other clean energy projects, drawing praise from renewables advocates and criticism from the fuel cell and hydrogen industry. (New York Times, Axios)

ALSO: Six major U.S.-headquartered banks have so far quit an international net-zero alliance, with some observers blaming the exodus on incoming federal Republican leadership. (The Guardian)

COAL: An analysis finds owners and operators of coal plants in 30 states are considering or have decided to delay the facilities’ planned retirements to keep up with escalating power demand, driven largely by data centers. (Floodlight)

WIND:

• President-elect Trump promises to block new wind energy development despite its rapid expansion in Republican-led states and his inability to control private-sector investments. (New York Times)
• As much as 90% of most wind turbines are made up of steel and concrete that can be recycled, the U.S. Energy Department finds. (Utility Dive)

ELECTRIFICATION:

• The U.S. Energy Department has yet to approve several states’ plans to offer federal weatherization and electrification rebates, putting the funds in jeopardy as the Biden administration draws to a close. (WHYY)
• Trump is reportedly considering an executive order to block federal and local regulations against gas-powered appliances and heating. (Reuters)

OIL & GAS:

• Even if Trump reverses Biden’s new offshore drilling ban, experts say cost-sensitive producers, increased vehicle fuel efficiency, and the threat of tariffs could dampen his hopes to hike domestic oil and gas production. (Politico)
• Liquefied natural gas production and exports are set for a major expansion, worrying residents near proposed LNG terminals as 1970s safety standards have not been updated. (E&E News)

ELECTRIC VEHICLES:

• Toyota announces plans to hire 1,600 additional workers and ship its first hybrid and electric vehicle batteries from a new North Carolina plant later this year. (Raleigh News & Observer)
• Toyota receives a $4.5 million federal grant to partner with a national lab in Tennessee and others to develop a robotic disassembly process for electric vehicle batteries in hopes of building out a circular domestic battery supply chain. (Utility Dive)

POLITICS: A U.S. Senate committee is expected to next week consider Trump’s interior secretary nominee Doug Burgum, who championed carbon capture and storage while governor of North Dakota. (Washington Post)