Today’s headlines: Strait of Hormuz to reopen, a modular geothermal fundraise, and more

This roundup of U.S. energy news headlines is part of our Canary Media Daily newsletter. Sign up to get it in your inbox each morning.

MIDDLE EAST ENERGY SHOCK

• The U.S. and Iran sign a ceasefire deal that could allow shipping to resume in the Strait of Hormuz, with the news sending oil prices to their lowest levels since the start of the war. (New York Times)

• The end of the war could provide a boost to both the U.S. fossil fuel industry and Chinese clean energy manufacturing — energy resources some see as more stable than Middle Eastern oil and gas. (E&E News)

CLEAN ENERGY

• A new Solar Energy Industries Association guide to solar and land use finds panels cover less than a tenth of a percent of agricultural land in the U.S., and that golf courses and suburbs have taken over far more prime farmland. (SEIA)

• The Trump administration moves to appeal a judge’s decision to let a clean energy developers’ lawsuit proceed against a federal blockade on wind and solar. (E&E News)

UTILITIES

• Making much-needed upgrades to the U.S. grid could result in a $1 billion payout to American utility executives, as publicly traded utilities’ stock valuations are directly tied to their spending. (Reuters)

• NextEra Energy agrees to pay $150 million to settle charges related to its Florida political interference scandal ahead of its proposed merger with Dominion Energy. (Utility Dive)

• Alabama Gov. Kay Ivey (R) names four new members to the state Public Service Commission, expanding the board beyond its three elected commissioners. (Inside Climate News)

GEOTHERMAL

• Startup Critical Energy raises $22 million to build its first 2.5-MW geothermal project, which will employ a turbine design it hopes to deploy modularly. (TechCrunch)

ELECTRIC VEHICLES

• Rivian announces a vehicle-to-grid partnership with ChargeScape, joining Ford, Honda, and at least five other EV manufacturers on the platform. (Utility Dive)

COAL

• At least three coal plants set to receive federal funding meant to extend their lives have been repeatedly cited for violating clean air and water statutes. (Inside Climate News)