Energy Policy Now

An expert in electricity markets explains why market price signals alone will struggle to incentivize adequate investment in the flexible electricity resources needed for future grid reliability. -- In the 1990s the process of deregulation – or restructuring – of the U.S. electricity system began, leading to the introduction of competition to an industry that had for a century been dominated by vertically-integrated utility monopolies. Today, competitive markets produce two-thirds of the electricity consumed in the country. Yet concern has grown that these modern markets may not be up to the task of driving the types of investment needed to ensure that an ample and reliable supply of clean electricity will be available in the future. Kelli Joseph, a senior fellow with the Kleinman Center, offers a deep dive into the theory of competitive electricity markets and the role that market price signals play in driving investment in many parts of the United States. She explores the need to incentivize investment in flexible resources essential to the reliability of a grid that is increasingly reliant on natural gas and renewable generation, and discusses how electricity markets and policy might meet the challenges of the energy transition. Kelli Joseph is a senior fellow with the Kleinman Center for Energy Policy. Related Content The Key to Electric Grid Reliability: Modernizing Governance https://kleinmanenergy.upenn.edu/research/publications/the-key-to-electric-grid-reliability-modernizing-governance/ Coordinated Policy and Targeted Investment for and Orderly and Reliable Energy Transition https://kleinmanenergy.upenn.edu/research/publications/coordinated-policy-and-targeted-investment-for-an-orderly-and-reliable-energy-transition/ Aligning Clean Energy Policy with Grid Reliability https://kleinmanenergy.upenn.edu/podcast/aligning-clean-energy-policy-with-grid-reliability/   Energy Policy Now is produced by The Kleinman Center for Energy Policy at the University of Pennsylvania. For all things energy policy, visit kleinmanenergy.upenn.edu  See omnystudio.com/listener for privacy information.

Senator Sheldon Whitehouse discusses the prospects for bipartisan U.S. carbon border fee legislation, and the need to protect the Biden administration’s clean energy and climate achievements.--- (This episode was recorded on March 15, 2024, during Penn Energy Week) Senator Sheldon Whitehouse has a reputation as an advocate for strong climate policies in Congress. The Rhode Island Democrat gained national attention over a decade ago when he gave the first of more than 290 “Time to Wake Up” climate speeches to date on the floor of the U.S. Senate. Many of the speeches were delivered at times when the prospects were bleak for significant leadership from Washington on climate and clean energy issues. Yet the past three years have been very different. Through the passage of the Bipartisan Infrastructure Law and, most pointedly, the Inflation Reduction Act, Congress has made concrete steps to grow domestic clean energy and improve the nation’s climate resilience. Recently, Senator Whitehouse reintroduced a bill that would levy the first carbon border fee on goods imported to the U.S., and effectively reward American industry for its leadership in energy efficiency and emissions reductions. On the podcast, Whitehouse discusses his plan for a carbon border adjustment. He also considers an upcoming election that will prove critical for continued progress, and that could jeopardize the full realization of recently passed energy and climate laws and the fate of the Biden administration’s related regulatory accomplishments. Related Content The Key to Electric Grid Reliability: Modernizing Governance https://kleinmanenergy.upenn.edu/research/publications/the-key-to-electric-grid-reliability-modernizing-governance/ Advancing the Social License for Carbon Management in Achieving Net-Zero GHG Emissions https://kleinmanenergy.upenn.edu/research/publications/advancing-the-social-license-for-carbon-management-in-achieving-net-zero-ghg-emissions/ Coordinated Policy and Targeted Investment for an Orderly and Reliable Energy Transition https://kleinmanenergy.upenn.edu/research/publications/coordinated-policy-and-targeted-investment-for-an-orderly-and-reliable-energy-transition/   Energy Policy Now is produced by The Kleinman Center for Energy Policy at the University of Pennsylvania. For all things energy policy, visit kleinmanenergy.upenn.eduSee omnystudio.com/listener for privacy information.

The U.S. Department of the Treasury is finalizing rules that will determine which new clean hydrogen projects will receive the IRA’s generous 45V tax incentives, and whether those projects will deliver promised climate benefits. --- The Inflation Reduction Act provides a range of incentives for the development of clean energy resources in the United States. Highest profile among those incentives are hundreds of billions of dollars in tax credits earmarked for new wind and solar power projects. Yet the IRA’s most aggressive incentives aren’t directed at renewables but at clean hydrogen, which is a fuel that is viewed as crucial to decarbonizing parts of the economy that aren’t readily electrified, such as steel making, air travel and shipping. Over the past few months, the Department of the Treasury and the Internal Revenue Service have been developing rules to define what will qualify as clean hydrogen, and what level of financial incentive hydrogen producers should receive based on the climate impact of the hydrogen they will make. Final rules are expected this year, and will ultimately determine whether clean hydrogen delivers on its climate promise. Danny Cullenward, Vice Chair of California’s Independent Emissions Market Advisory Committee and a Senior Fellow at the Kleinman Center, explores the climate stakes surrounding the Treasury’s 45V hydrogen production tax credit. Cullenward explains the draft clean hydrogen rules, and why certain interests would like to see those guidelines relaxed. He also explores what the final rules might mean for the pace of clean hydrogen growth, and for the ability of clean hydrogen producers to thrive after the incentives expire. Danny Cullenward is a Senior Fellow with the Kleinman Center for Energy Policy. He is also Vice Chair of California’s Independent Emissions Market Advisory Committee, and a Research Fellow with the Institute for Carbon Removal Law and Policy at American University. Related Content Coordinated Policy and Targeted Investment for an Orderly and Reliable Energy Transition https://kleinmanenergy.upenn.edu/research/publications/coordinated-policy-and-targeted-investment-for-an-orderly-and-reliable-energy-transition/ Why the IRA’s Carbon Capture Tax Credit Could Increase Greenhouse Emissions (Podcast) https://kleinmanenergy.upenn.edu/podcast/why-the-iras-carbon-capture-tax-credit-could-increase-greenhouse-emissions/   Energy Policy Now is produced by The Kleinman Center for Energy Policy at the University of Pennsylvania. For all things energy policy, visit kleinmanenergy.upenn.edu.See omnystudio.com/listener for privacy information.

Physical attacks on critical European energy infrastructure have risen since the outbreak of the war in Ukraine, threatening energy security and the pace of the low-carbon transition. --- Sabotage of critical energy infrastructure has been on the rise, most prominently in Europe, where multiple attacks have targeted subsea electric transmission cables and natural gas pipelines, including Nordstream, since the start of the war in Ukraine.    These disruptions come at a time of upheaval in the energy system, as nations push forward with the construction of expansive carbon-free energy infrastructure, spanning renewable generation and electric transmission networks. Simultaneously, European countries have raced to develop new LNG import terminals and pipelines to replace natural gas that had been supplied by Russia. Yet, until recently relatively little public attention has been paid to the challenge that physical sabotage presents to energy security and climate goals. Benjamin Schmitt, a senior fellow with the Kleinman Center, explores the daunting task of protecting vast networks of often remote infrastructure from everything from hostile nations to small bands of rogue actors. He also discusses why culprits can be so difficult to identify, and how threats to energy infrastructure might undermine public support for the expansive projects needed to transition to a low-carbon energy system in Europe, the US, and elsewhere. Benjamin Schmitt is a Senior Fellow here at the Kleinman Center whose research has focused on the physical security on the energy system.  Related Content Coordinated Policy and Targeted Investment for an Orderly and Reliable Energy Transition https://kleinmanenergy.upenn.edu/research/publications/coordinated-policy-and-targeted-investment-for-an-orderly-and-reliable-energy-transition/ America’s Electric Power Transmission Crisis https://kleinmanenergy.upenn.edu/podcast/americas-electric-power-transmission-crisis/   Energy Policy Now is produced by The Kleinman Center for Energy Policy at the University of Pennsylvania. For all things energy policy, visit kleinmanenergy.upenn.eduSee omnystudio.com/listener for privacy information.

Local opposition to clean energy projects slows the transition to a low carbon energy system. A legal expert explores how a national policy of “repurposed energy” could speed things up. --- Clean energy infrastructure projects often face opposition from communities where they would be built, a fact that stands in the way of efforts to rapidly lower energy-sector carbon emissions.  Alexandra Klass, a professor of law at the University of Michigan Law School, explores how “repurposed energy”, which directs clean energy projects to abandoned fossil fuel sites and marginal agricultural lands, can effectively counter local opposition and accelerate clean energy development.  She also discusses key provisions in the Inflation Reduction Act and Bipartisan Infrastructure Law that support the development of clean energy in legacy energy communities, and offers recommendations for policy to support repurposed energy nationwide. Alexandra Klass is the James G. Degnan professor of law at the University of Michigan Law School, and a visiting scholar at the Kleinman Center for Energy Policy.  Her recent work has focused on repurposed energy and policy recommendations to make it reality.  Related Content A New Era of Policy in Solar Geoengineering  https://kleinmanenergy.upenn.edu/research/publications/a-new-era-of-policy-in-solar-geoengineering/ Ammonia’s Role in a Net-Zero Hydrogen Economy https://kleinmanenergy.upenn.edu/research/publications/ammonias-role-in-a-net-zero-hydrogen-economy/ The CO2 Transportation Challenge  https://kleinmanenergy.upenn.edu/podcast/the-co2-transportation-challenge/ Energy Policy Now is produced by The Kleinman Center for Energy Policy at the University of Pennsylvania. For all things energy policy, visit kleinmanenergy.upenn.eduSee omnystudio.com/listener for privacy information.

Each fall, the Kleinman Center for Energy Policy hosts a student blog competition, where students from any field of study can showcase their creativity, innovation, and passion for energy policy and sustainability. This year, we welcomed audio submissions, and we’re featuring our first-place audio blog here. This year’s winner is Benjamin Chen, a junior majoring in economics and minoring in computer science and environmental management. Ben’s winning audio blog is titled “Corporate Disclosure Law on Energy Policy”. Benjamin Chen is a junior majoring in economics at the University of Pennsylvania.See omnystudio.com/listener for privacy information.

A national network of CO2 and biomass transportation infrastructure, spanning pipelines to rail routes, will be needed to support the permanent removal of atmospheric CO2. Can the network be economically built? --- In December the Lawrence Livermore National Laboratory published Roads to Removal: Options for Carbon Dioxide Removal in the United States, which explores pathways to permanently remove carbon dioxide from Earth’s atmosphere. The report provides a granular, county-by-county look at the potential for atmospheric carbon to be captured and stored across the U.S., and highlights the fact that the best places for carbon to be captured, and stored, are frequently not the same. On the podcast, two report authors explore the need to develop a nationwide, multi-modal transportation network to move carbon dioxide and a related climate commodity, biomass, at scale, and potentially over great distances, to permanent geologic storage sites. Pete Psarras is a research assistant professor in chemical and biomedical engineering at the University of Pennsylvania’s School of Engineering and Applied Sciences. Hélène Pilorgé is a research associate whose work focuses on carbon management. The two explore the geography of carbon removal and storage, the challenging logistics of a future, multi-modal carbon transportation network, and how that network might be most economically built. Pete Psarras is a research assistant professor in chemical and biomedical engineering at the University of Pennsylvania’s School of Engineering and Applied Sciences, and a researcher with the University of Pennsylvania’s Clean Energy Conversions Laboratory. Hélène Pilorgé is a research associate with the University of Pennsylvania’s Clean Energy Conversions Laboratory. Related Content A New Era of Policy in Solar Geoengineering https://kleinmanenergy.upenn.edu/research/publications/a-new-era-of-policy-in-solar-geoengineering/ Ammonia's Role in a Net-Zero Hydrogen Economy https://kleinmanenergy.upenn.edu/research/publications/ammonias-role-in-a-net-zero-hydrogen-economy/ Why the IRA's Carbon Capture Tax Credit Could Increase Greenhouse Emissions (Podcast) https://kleinmanenergy.upenn.edu/podcast/why-the-iras-carbon-capture-tax-credit-could-increase-greenhouse-emissions/   Energy Policy Now is produced by The Kleinman Center for Energy Policy at the University of Pennsylvania. For all things energy policy, visit kleinmanenergy.upenn.eduSee omnystudio.com/listener for privacy information.

Cary Coglianese, director of the Penn Program on Regulation, explores AI’s potential to help regulators keep pace with energy sector growth and climate-tech innovation. --- The ongoing transition to a cleaner energy system has positive implications for climate, energy security and equity. Yet the same transition poses myriad challenges for regulators, who are faced with an energy system that is more complex and distributed than ever, and where rapid innovation threatens to outpace their ability to tailor rules and effectively monitor compliance among a growing number of regulated entities. Cary Coglianese, director of the Penn Program on Regulation, discusses the role that AI can play in optimizing regulation for an increasingly dynamic and innovative energy sector. Coglianese explores the role that AI might play in the development of rules and in measuring regulatory effectiveness. He also examines challenges related to AI energy consumption and bias that must be addressed if the technology’s potential as a regulatory tool is to be realized. Cary Coglianese is director of the Penn Program on Regulation and a professor of law at the University of Pennsylvania.   Professor Coglianese’s work discussed in this podcast includes the following papers he has published: “Deploying Machine Learning for a Sustainable Future,” “Optimizing Regulation for an Optimizing Economy,” “Regulating by Robot: Administrative Decision Making in the Machine-Learning Era,” “Transparency and Algorithmic Governance,” and “Procurement and Artificial Intelligence.” Related Content Gender Baseline Assessment of Energy Compacts https://kleinmanenergy.upenn.edu/research/publications/gender-baseline-assessment-of-energy-compacts/ How Effective Are Vehicle Exhaust Standards? https://kleinmanenergy.upenn.edu/research/publications/how-effective-are-vehicle-exhaust-standards/   Energy Policy Now is produced by The Kleinman Center for Energy Policy at the University of Pennsylvania. For all things energy policy, visit kleinmanenergy.upenn.eduSee omnystudio.com/listener for privacy information.

Ari Peskoe, director of Harvard Law School’s Electricity Law Initiative, discusses FERC’s pending reforms to the electric transmission development process in the U.S., and legal challenges they'll likely face. Description Nearly two years ago, the U.S. Federal Energy Regulatory Commission proposed a set of regulatory reforms to speed a much-needed expansion of the nation’s network of long distance electric transmission lines. FERC’s final rules, which are likely to arrive this year, are expected to substantially update the framework under which transmission lines are planned and paid for, and pave the way for the growth of clean energy. Yet FERC’s reforms come at a time when the future of the electric grid has become the focus of fierce partisan debate, and legal challenges to FERC’s proposed rules are expected. Ari Peskoe, director of Harvard Law School’s Electricity Law Initiative, explores the need for a rapid expansion of the nation’s transmission infrastructure, and why the industry’s existing framework for transmission development has not been able to deliver the necessary pace of development. He discusses FERC’s proposed rules to govern transmission planning and the sharing of transmission costs, and how a final order might endure expected legal challenges. Ari Peskoe is director of Harvard Law School’s Electricity Law Initiative. Related Content Aligning Clean Energy Policy with Grid Reliability (podcast) https://kleinmanenergy.upenn.edu/podcast/aligning-clean-energy-policy-with-grid-reliability/ Wholesale Electricity Justice https://kleinmanenergy.upenn.edu/research/publications/wholesale-electricity-justice/  America’s Electric Power Transmission Crisis (podcast) https://kleinmanenergy.upenn.edu/podcast/americas-electric-power-transmission-crisis/   Energy Policy Now is produced by The Kleinman Center for Energy Policy at the University of Pennsylvania. For all things energy policy, visit kleinmanenergy.upenn.eduSee omnystudio.com/listener for privacy information.

New research raises doubt around the climate benefits of the 45Q tax credit for carbon capture and storage for fossil fuel powerplants. --- The Inflation Reduction Act earmarks billions of dollars of incentives for carbon capture and storage from coal and gas-fired powerplants. Ideally, the incentive will provide a path for fossil generators to reduce their greenhouse gas emissions as the electric grid transitions to cleaner resources and to net zero. Yet recent research calls into question the climate impact of the IRA’s carbon capture tax credit, known as 45Q. The report, co-authored by a former deputy assistant secretary for the Department of Energy’s Office of Carbon Management, finds that 45Q could lead to an increase in greenhouse gas emissions by incentivizing coal and gas generators to extend their working lives and maximize their output. The result could be billions of dollars of taxpayer money spent with no climate benefit. Emily Grubert, report co-author and now an associate professor of sustainable energy policy at the Keough School of Global Affairs at the University of Notre Dame, examines the costs and climate impacts of carbon capture and storage under the IRA. Grubert explains how the 45Q tax credit could lead to unintended climate impacts. She also discusses the need for robust review of proposed carbon capture projects, and strong regulatory guardrails, if 45Q and CCS are to deliver climate benefits. Emily Grubert is an associate professor of sustainable energy policy at the Keough School of Global Affairs at the University of Notre Dame, and former deputy assistant secretary in the Office of Carbon Management at the U.S. Department of Energy. Related Content Are Those Who Most Benefit from the IRA Aware It Exists?  https://kleinmanenergy.upenn.edu/research/research-projects/are-those-who-most-benefit-from-the-ira-aware-it-exists-guidance-for-stakeholders-and-policymakers/ What Impact Will the IRA Have on Consumer Energy Costs? https://kleinmanenergy.upenn.edu/podcast/what-impact-will-the-ira-have-on-consumer-energy-costs/ Agricultural Provisions in the Inflation Reduction Act and Beyond https://kleinmanenergy.upenn.edu/news-insights/agricultural-provisions-of-the-inflation-reduction-act-and-beyond/ Energy Policy Now is produced by The Kleinman Center for Energy Policy at the University of Pennsylvania. For all things energy policy, visit kleinmanenergy.upenn.eduSee omnystudio.com/listener for privacy information.

Recent electric grid emergencies highlight the need for better communication, and coordination, between energy policymakers and grid operators. --- In early November the Federal Energy Regulatory Commission, or FERC, convened its annual technical conference on the reliability of the electric grid. In most years the conference attracts little attention beyond electricity industry insiders. But recently, and this year in particular, grid reliability has become a focus of national concern following a narrowly avoided, potentially widespread grid outage in the Eastern US last winter. A recent report from the FERC and the nation’s grid reliability regulator, NERC, warns that similar outages are increasingly likely this coming winter. At the root of reliability concerns is the energy transition itself, in which fossil fuel powerplants, and coal plants in particular, are rapidly retiring and not being quickly replaced with clean sources of power. Also concerning has been the performance of natural gas-fired generators, a large number of which have failed to operate in severe weather conditions. While these resources can provide reliable electricity supply, they won’t do so by simple chance. Detailed and deliberate grid planning, and coordination between the policymakers who set clean energy goals and the grid operators who are responsible for reliability, is essential if future reliability is to be ensured. On the podcast Kelli Joseph, a senior fellow with the KIeinman Center for Energy Policy, explores this disconnect between electricity policy and reliability. She also discusses the nation’s looming challenges to grid reliability and resilience, and how coordination between policymakers and the operators of the electric grid might be achieved. Kelli Joseph is a senior fellow with the Kleinman Center for Energy Policy, and a senior fellow in electricity market design and clean energy transition with the World Resources Institute. Related Content Ammonia’s Role in a Net-Zero Hydrogen Economy https://kleinmanenergy.upenn.edu/research/publications/ammonias-role-in-a-net-zero-hydrogen-economy/ Energy Transition Puts Grid Reliability to the Test (Podcast) https://kleinmanenergy.upenn.edu/podcast/energy-transition-puts-grid-reliability-to-the-test/ The Net-Zero Governance Conveyor Belt https://kleinmanenergy.upenn.edu/research/publications/the-net-zero-governance-conveyor-belt/   Energy Policy Now is produced by The Kleinman Center for Energy Policy at the University of Pennsylvania. For all things energy policy, visit kleinmanenergy.upenn.eduSee omnystudio.com/listener for privacy information.

Brazilian economist and IPCC lead author Roberto Schaeffer examines what constitutes a “fair share” of emissions reductions under the Paris climate process, and how fairness is defined. -- This December, at COP 28 in Dubai, countries will consider the results of the first “global stocktake,” which is a global report card that compares real climate commitments and actions with the level that’s in fact needed to achieve global net zero and avoid the worst of climate outcomes. Following COP, countries will be expected to intensify their efforts to reduce their climate impacts and keep the targets of the Paris Climate Agreement in sight.  As they consider their future commitments, countries will grapple with their capacity to reduce emissions, whether that level is in fact “fair” in a global sense, and what the climate implications of their efforts may be. Roberto Schaeffer, a professor of energy economics at the Federal University of Rio de Janeiro, explores paths to deliver the dual imperatives of fairness, and maximum carbon reductions, in the global climate context. Schaeffer is a lead author for the Intergovernmental Panel on Climate Change Assessment Reports, and a co-recipient of the Nobel Prize. His work focuses on frameworks to maximize individual country contributions to the global climate effort. Roberto Schaeffer is a professor of energy economics at the Federal University of Rio de Janeiro. Related Content The Net Zero Governance Conveyor Belt https://kleinmanenergy.upenn.edu/research/publications/the-net-zero-governance-conveyor-belt/ East Meets West: Linking the China and EU ETS’s https://kleinmanenergy.upenn.edu/research/publications/east-meets-west-linking-the-china-and-eu-etss/ Accelerating Climate Action https://kleinmanenergy.upenn.edu/podcast/accelerating-climate-action/   Energy Policy Now is produced by The Kleinman Center for Energy Policy at the University of Pennsylvania. For all things energy policy, visit kleinmanenergy.upenn.eduSee omnystudio.com/listener for privacy information.

A metals industry executive explores the race to develop alternative supplies of critical minerals essential to the energy transition.--- For over a century the global energy system has been dominated by fossil fuels, and governments and industry have gone to great lengths to secure reliable supplies of oil, natural gas, and coal. All along, scarcity and competition over fossil resources has been fuel for geopolitical conflict, and a root cause of energy insecurity when access to resources appears threatened or limited. Yet as the world shifts today toward clean energy technologies certain minerals like cobalt and lithium increasingly replace fossil fuels as the basis of our energy system. Accordingly, where governments once sought to gain secure supply of fossil fuels, energy security in the future will depend on access to dozens of critical minerals needed for an increasingly electrified and carbon-free energy system. Brian Menell, chief executive of critical minerals supply chain company TechMet, explores the challenges that come with dependence on resources that are by and large produced outside of the United States and, in notable cases, by countries with which the U.S. has strained diplomatic ties. Menell, whose company has received significant funding from the U.S. government’s International Development Finance Corporation, also discusses the challenges involved in developing new sources of supply, and the prospects for scaling the production of key minerals to support the pace of decarbonization. Brian Menell is Chairman and CEO of TechMet. Related Content Rare Earth Elements: A Resource Constraint of the Energy Transition https://kleinmanenergy.upenn.edu/research/publications/rare-earth-elements-a-resource-constraint-of-the-energy-transition/ Raw Materials Pose ESG Challenge for EV Industry https://kleinmanenergy.upenn.edu/podcast/raw-materials-pose-esg-challenge-for-ev-industry/    Energy Policy Now is produced by The Kleinman Center for Energy Policy at the University of Pennsylvania. For all things energy policy, visit kleinmanenergy.upenn.eduSee omnystudio.com/listener for privacy information.

Ramón Méndez Galain, this year’s recipient of the Carnot Prize, reflects on leading Uruguay to a 98% renewable electricity mix, and what the rest of the world might take from his country’s experience. --- In 2008 Ramón Méndez Galain, a particle physicist with no experience in government, was appointed Director of Energy for Uruguay and proceeded to reimagine the country’s electricity grid. In less than a decade, Méndez’s energy transition plan succeeded in freeing the country’s power sector from its growing reliance on imported oil, and achieved energy independence through a mix of 98% renewable electricity. Méndez and Noah Gallagher Shannon, a journalist who has written about Uruguay’s energy transition for The New York Times Magazine, discuss the energy crisis that forced Uruguay’s shift to clean energy and the financing structure and political accommodations that made the transition possible. Méndez also discusses his current role as head of an NGO that assists policymakers in other countries with their own energy transitions, drawing upon lessons learned in Uruguay where possible. Ramón Méndez Galain is Executive Director of Asociación Ivy and former Director of Energy for Uruguay. Noah Gallagher Shannon is a freelance journalist and author of the New York Times Magazine article on Uruguay’s energy transition, “What Does Sustainable Living Look Like? Maybe Like Uruguay.” Related Content The Prospects for Pennsylvania as a RGGI Member https://kleinmanenergy.upenn.edu/research/publications/the-prospects-for-pennsylvania-as-a-rggi-member/ Wholesale Electricity Justice https://kleinmanenergy.upenn.edu/research/publications/wholesale-electricity-justice/ Nicholas Stern on the Role of Economics in Combatting Climate Change https://kleinmanenergy.upenn.edu/podcast/nicholas-stern-on-the-role-of-economics-in-combating-climate-change/   Energy Policy Now is produced by The Kleinman Center for Energy Policy at the University of Pennsylvania. For all things energy policy, visit kleinmanenergy.upenn.eduSee omnystudio.com/listener for privacy information.

Climatologist Michael Mann discusses his new book on Earth’s climate past, with insights into our climate future. --- Renowned Penn climatologist Michael Mann’s latest book, “Our Fragile Moment,” explores the history of climate change and the lessons it can provide into the trajectory of climate change today. The book is Mann’s response to the phenomenon of “climate doomism” which, Mann writes, misrepresents the paleoclimate record to promote climate inaction. In the book, Mann seeks to set the paleoclimate record straight, and discusses how human agency remains our greatest tool in preventing the worst impacts of climate change. Michael Mann is Presidential Distinguished Professor in the University of Pennsylvania’s Department of Earth and Environmental Science, and director of the Penn Center for Science, Sustainability and the Media. He is also a Faculty Fellow at the Kleinman Center for Energy Policy. Related Content The Net-Zero Governance Conveyor Belt https://kleinmanenergy.upenn.edu/research/publications/the-net-zero-governance-conveyor-belt/ The Prospects for Pennsylvania as a RGGI Member https://kleinmanenergy.upenn.edu/research/publications/the-prospects-for-pennsylvania-as-a-rggi-member/ Accelerating Climate Action https://kleinmanenergy.upenn.edu/podcast/accelerating-climate-action/   Energy Policy Now is produced by The Kleinman Center for Energy Policy at the University of Pennsylvania. For all things energy policy, visit kleinmanenergy.upenn.edu. See omnystudio.com/listener for privacy information.

A Penn economist explores the relationship between regional energy policy and oil company support for renewable power.--- In recent years there has been a divergence in the trajectories of the world’s major oil companies. The shift has been most noticeable in the case of the European oil majors, including companies such as BP and Shell, which during the past decade began to emphasize the importance of renewable energy to their futures, and subsequently built major wind and solar power businesses. American oil majors have, by contrast, generally taken a more defensive approach to the energy transition. In public statements, companies such as ExxonMobil and Chevron have emphasized that their competitive advantage lies solidly in oil and gas production. What comes into focus when considering the directions of these and other oil companies is that their core approach to the energy transition may be influenced by political dynamics in the regions they call home and, ultimately, in their estimates of the staying power of fossil fuels. Arthur van Benthem, an associate professor at the Wharton School of Business, discusses the relationship between regional energy policy and the clean energy strategies of major independent and state-owned oil companies. His recent research explores the pressure that oil companies face from policymakers and financial markets to reduce their climate impacts. Arthur van Benthem is an associate professor of business economics and public policy at the Wharton School of Business. Related Content Ammonia’s Role in the Net-Zero Hydrogen Economy https://kleinmanenergy.upenn.edu/research/publications/ammonias-role-in-a-net-zero-hydrogen-economy/ Can Carbon Negative Oil Be Climate Positive? https://kleinmanenergy.upenn.edu/podcast/can-carbon-negative-oil-be-climate-positive/ Saudi Arabia Confronts Its Oil Dependence https://kleinmanenergy.upenn.edu/podcast/saudi-arabia-confronts-its-oil-dependence/   Energy Policy Now is produced by The Kleinman Center for Energy Policy at the University of Pennsylvania. For all things energy policy, visit kleinmanenergy.upenn.eduSee omnystudio.com/listener for privacy information.

Long-distance electric transmission lines are a critical to the energy transition, yet construction of new lines has come to a near standstill in the U.S. Rob Gramlich of Grid Strategies discusses recent market and regulatory action to resurrect transmission development. --- Electric transmission line mileage will need to triple by the middle of this century to make a net-zero carbon grid a reality, according to estimates cited by the U.S. Department of Energy. Yet new transmission development has plummeted over the past decade, while efforts to spur new construction of long-distance power lines have largely come up short. Rob Gramlich, president of power sector consultancy Grid Strategies and a frequent expert witness on grid issues before Congress, discusses transmission’s critical role in making the grid of the future clean and reliable, and the reasons behind the development slowdown. He reviews the results of a recent report card analysis of transmission development activity across the country, and highlights efforts among grid operators and regulators to incentivize new development. Rob Gramlich is president of power sector consultancy Grid Strategies. Related Content Energy Transition Puts Grid Reliability to the Test https://kleinmanenergy.upenn.edu/podcast/energy-transition-puts-grid-reliability-to-the-test/ The Prospects for Pennsylvania as a RGGI Member https://kleinmanenergy.upenn.edu/research/publications/the-prospects-for-pennsylvania-as-a-rggi-member/ Wholesale Electricity Justice https://kleinmanenergy.upenn.edu/research/publications/wholesale-electricity-justice/   Energy Policy Now is produced by The Kleinman Center for Energy Policy at the University of Pennsylvania. For all things energy policy, visit kleinmanenergy.upenn.eduSee omnystudio.com/listener for privacy information.

As COP 28 draws closer, climate negotiators race to finalize a financing structure to help countries that suffer climate change-related damages. --- In late November this year’s global climate conference, COP 28, will begin in Dubai. The headline issue at COP will be the global stock take, which is a country by country review of progress toward fulfilling emissions reduction pledges under the Paris Climate Agreement. Yet while much attention at COP will be focused on emissions reductions, a second issue, and one that has long been critical to developing nations, will finally and concretely share the limelight. The issue is that of loss and damage finance, or financial support for countries that sustain damage resulting from a changing climate. In Dubai negotiators are expected to endorse a financing framework, and purpose-built fund, to explicitly address the recovery needs of countries impacted by climate change. Michael Franczak, a research fellow at the International Peace Institute, explores loss and damage finance and the race to deliver a formal finance mechanism in time for COP28. He also explains why the issue of loss and damage finance has been so contentious, and discusses innovative means to provide loss and damage funding on the scale that’s needed. Michael Franczak is a research fellow at the International Peace Institute and author of the recent IPI report, “Financing Loss and Damage at Scale: Toward a Mosaic Approach.” Related Content COP 27 and Climate Finance: Renovated Debates, Same Old Dilemmas https://kleinmanenergy.upenn.edu/news-insights/cop27-and-climate-finance-renovated-debates-same-old-dilemmas/ COP27 Dispatch: Why Loss and Damage Finance Is Critical to Small Island States  https://kleinmanenergy.upenn.edu/podcast/cop27-dispatch-why-loss-and-damage-finance-is-critical-to-small-island-states/   Energy Policy Now is produced by The Kleinman Center for Energy Policy at the University of Pennsylvania. For all things energy policy, visit kleinmanenergy.upenn.edu.See omnystudio.com/listener for privacy information.

California is set to present its strategic plan to scale an offshore wind power industry based on unconventional floating wind technology. --- In late June the California Energy Commission will submit its strategic plan for the development of offshore wind energy to the state’s legislature. The plan is the culmination of two years of efforts by California to jump start its offshore wind industry and help the state reach its goal of 100% carbon free electricity by the year 2045. Yet California’s offshore wind ambitions are also a bet on floating offshore wind technology that is required by the state’s deep ocean waters. The technology has scarcely been applied anywhere in the world, and it presents infrastructure and economic hurdles that could complicate the state’s offshore wind efforts. Tim Fischer, Executive Director for Global Wind with Ramboll, a Danish offshore wind consultancy and engineering consultant to California effort, and Joe Rand of the Lawrence Berkeley National Laboratory, discuss the challenges of quickly scaling floating wind power to meet California’s energy goals. They also consider the challenges of connecting large amounts of renewable energy to the on-shore grid, taking into account the need to balance infrastructure development with community priorities. Related Content Ammonia’s Role in a Net-Zero Carbon Economy https://kleinmanenergy.upenn.edu/research/publications/ammonias-role-in-a-net-zero-hydrogen-economy/ The Economics of Building Electrification https://kleinmanenergy.upenn.edu/research/publications/the-economics-of-building-electrification/ Scaling Private Finance for Global Solar Growth https://kleinmanenergy.upenn.edu/podcast/scaling-private-finance-for-global-solar-growth/   Energy Policy Now is produced by The Kleinman Center for Energy Policy at the University of Pennsylvania. For all things energy policy, visit kleinmanenergy.upenn.eduSee omnystudio.com/listener for privacy information.

Nick Rohleder, Energy Policy Now’s former editorial assistant and current climate entrepreneur, discusses the challenge of managing the investment risk inherent in emerging clean energy technologies. --- Last year, $1.1 trillion dollars were invested globally in carbon-free energy technologies and infrastructure. This volume of investment marked a significant milestone, as the first year in which money directed to clean energy equaled investment in the global oil and gas industry. Yet rising clean energy investment masks a critical barrier to the deployment of climate technologies and infrastructure, many of which are new and relatively unproven. As low-carbon solutions are rushed to market to meet urgent climate challenges, they carry inherent technology and implementation risks that can create a disincentive to investment, in particular for investors that are not accustomed to weighing such risks. Nick Rohleder, a Penn alumnus, former editorial assistant to Energy Policy Now, and now a climate entrepreneur, discusses the nature of climate technology risk and why it poses a barrier to investment. He also looks at how commercialization and technology risks can be managed with the goal of accelerating the deployment of climate solutions. Nicholaus Rohleder is co-founder of Climate Commodities and Climate Risk Partners. Related Content The Prospects for Pennsylvania as a RGGI Member https://kleinmanenergy.upenn.edu/research/publications/the-prospects-for-pennsylvania-as-a-rggi-member/ Ammonia’s Role in a Net-Zero Hydrogen Economy https://kleinmanenergy.upenn.edu/research/publications/ammonias-role-in-a-net-zero-hydrogen-economy/   Energy Policy Now is produced by The Kleinman Center for Energy Policy at the University of Pennsylvania. For all things energy policy, visit kleinmanenergy.upenn.edu See omnystudio.com/listener for privacy information.