Latest news with #greenEnergy
Yahoo
07-07-2025
- Automotive
- Yahoo
Commentary: Why Elon Musk should stick to business
Tesla (TSLA) CEO Elon Musk is undoubtedly brilliant. But a glaring blind spot is his inability to learn from other people's mistakes. Musk's on-and-off feud with President Trump is back on, now that Trump has signed a huge tax-cut package Musk objected to. Musk threatened to form a new political party if Congress passed the bill and Trump signed it, a threat Trump and his fellow Republicans ignored. Musk objects to the bill because it will add at least $4 trillion to the already monstrous national debt and because it short-changes booming sectors such as green energy while boosting legacy industries such as fossil fuels. The multibillionaire argues that Republicans and Democrats actually constitute a 'uniparty' — depicted in one meme as a two-headed snake — that shares the common sin of perpetually pumping up the national debt. The 'America Party' Musk plans to form would represent the '80% in the middle,' Musk says. Its policies would be centrist, and its prime mission would be getting the nation's wayward finances back on sound footing. Musk's numbers are a bit off, but many voters will find his pitch is compelling. Self-described independents now represent 43% of the electorate, the highest portion in Gallup polling that dates to 1988. That reflects growing disgust with both established parties. Musk is generally right that both parties are guilty of financially reckless tax hikes and spending cuts, relying on ever more borrowed money. Fed-up independents and centrists are the coveted 'swing voters' who now determine virtually every presidential election outcome, and many other state and local races as well. Musk, however, will sooner or later learn what many other fed-up centrists know: Forming a meaningful third party in the United States is almost impossibly difficult. Terry Haines of research firm Pangaea Policy calls Musk's third-party bid an 'almost-certain failed political gambit that won't move the political needle and looks like a cross between a petty vanity project and a pick up toys and go home temper tantrum.' There's a robust history of failed efforts to form centrist third parties in modern times. Ross Perot famously tried it in the 1990s, and while he created some populist buzz, he failed to win a single electoral vote in two presidential campaigns. Third-party efforts of the last three decades include the Reform, Libertarian, Green, and Constitution parties, along with No Labels and many lesser-knowns. If you don't recognize any of those, well, see? Musk is perhaps the world's foremost startup expert, so maybe he thinks he will succeed where others have failed. Eh. Musk also thought his DOGE commission would be the first to meaningfully streamline government after dozens of prior attempts had failed. DOGE ran into the immovable object of Beltway political resistance and flopped within six months. Along the way, Musk's bromance with Trump turned sour, with the two giant egos now engaged in a trolling war. The American system of government simply leaves little turf for a third party to get much traction. As the Washington Post explained recently, the electoral college's winner-take-all system tends to snuff out small vote-getting efforts, and there's no American tradition of multiparty coalition building, as there is in many parliamentary systems. There are also elaborate rules for getting onto the ballot in every state that heavily favor the two entrenched parties. Musk is also personally unpopular, with a favorable rating of around 37% and an unfavorable rating of around 55%. Negative views of Musk spiked after he became Trump's government hatchet man, and his net approval rating, at -18%, is about 11 points worse than Trump's. The centrist ideology Musk is touting is probably a lot more popular than Musk without a third party, however, Musk could wield outsized political influence — as he already did as Trump's BFF for a few heady months. The next step for Musk is to be the agenda-setter, rather than the rich donor funding somebody else's agenda. And there's already a model for how to do this, driven by other business titans more patient and politically savvy than the impulsive Musk. The Koch Brothers, David and Charles, built one of the most influential organizations in American politics largely while operating within the Republican Party. Money from the family conglomerate helped finance a well-organized network promoting limited government and free markets that helped foment the Tea Party takeover of Congress in 2010 and is deeply influential to this day. Big-money critics lambast the Koch network for buying political outcomes with financial wealth, yet it's a model for what Musk seems to be trying to do. Other big donors have used their wealth to build deep levels of influence within the established political parties. Some of the most effective donors on the Republican side include banking heir Timothy Mellon, casino magnate Miriam Adelson (and her deceased husband Sheldon), Schlitz beer heir Richard Uihlein, and hedge fund billionaire Ken Griffin. Democrats claim fewer big-money business backers but still enjoy lavish support from the likes of Facebook co-founder Dustin Moskovitz, venture capitalist Reid Hoffman, and every conservative's favorite villain, hedge fund pioneer George Soros. Even Michael Bloomberg, the finance billionaire who served part of his three terms as mayor of New York City as an independent, donates almost exclusively to Democratic causes. He switched from independent to Democrat in 2018, most likely because he was planning to run for president and knew he wouldn't have a chance as an independent. If Musk is serious about being an influential voice in American politics for years to come, the best thing would be to first recommit to the half-dozen businesses he runs, where shareholders, workers, and customers feel Musk's political adventures are a painful distraction. Business is what he does best, and that should come first. Musk could then form a Koch-style political operation with like-minded techno-libertarians that would establish basic principles and hire political sharks to turn them into reality. He already has a political-action committee, called America PAC, that mainly served as a Trump-funding vehicle when Musk was his biggest donor in the '24 race. The PAC seems to have been dormant lately, but it's an obvious starting point for a new organization promoting Musk's favored policies. PACs are crucial for raising and distributing funds, and money, of course, is the lifeblood of politics. Money isn't enough. Making common cause with like-minded allies is also essential. For all his billions, Musk would also need activists and dealmakers who know how to work the system in every state, district, or ward where he wants to make a difference. He could buy much of that expertise, but it could test Musk's patience, since cash alone doesn't win elections, and it can take years to build a well-run political machine. Musk has hinted at going this direction. He says he'll tilt some congressional races in 2026 by using 'extremely concentrated force at a precise location on the battlefield.' That suggests picking a handful of House or Senate incumbents he hopes to defeat, finding challengers able to beat them in a primary or general election, funding those candidates and providing the support they need to navigate the electoral process. Much of that infrastructure already exists — in the Republican and Democratic parties. Musk could piggyback on that, candidate-by-candidate, without wasting the resources on a whole new party likely to fail. Musk may think he has to single-handedly pioneer every innovation that interests him, but sometimes there's a playbook showing him how to get halfway down the field. Rick Newman is a senior columnist for Yahoo Finance. Follow him on Bluesky and X: @rickjnewman. Click here for political news related to business and money policies that will shape tomorrow's stock prices. Sign in to access your portfolio
Reuters
04-07-2025
- Automotive
- Reuters
AGL Energy buys South Australia's Virtual Power Plant from Tesla
July 4 (Reuters) - AGL Energy ( opens new tab said on Friday it had acquired South Australia's Virtual Power Plant (SAVPP) from Tesla (TSLA.O), opens new tab, as the Australian power retailer looks to ramp up its battery storage capacity to drive green energy transition. The deal comes as AGL seeks to fulfil its promise of exiting coal-fired generation and achieve net zero carbon emissions by 2035, targeting 1.4 gigawatts of grid-scale battery storage projects in the next year. The acquisition of SAVPP, one of the largest virtual power plants in Australia, will allow AGL to access a network of residential solar and battery systems comprising of about 7,000 Powerwall home batteries, with more expected to be installed this year. SAVPP is a network of solar and Powerwall home battery systems, installed on South Australian social and community housing which will now be owned by AGL. Under the program, customers will receive significantly discounted energy prices and the company will be exploring ways to expand the program to more users, it said in a statement. "We know that upfront costs of installing solar and batteries can be a significant barrier for many, and we are focused on how we can make these more accessible," AGL Chief Customer Officer Jo Egan said. The solar and battery assets under the program will be coordinated to work together, and also used to help stabilise the electricity grid where required, the company said. The company did not disclose the value of the deal, while electric vehicle maker Tesla did not immediately respond to a Reuters request for comments on the deal value.
Yahoo
02-07-2025
- Business
- Yahoo
Q1 Earnings Outperformers: FuelCell Energy (NASDAQ:FCEL) And The Rest Of The Renewable Energy Stocks
Let's dig into the relative performance of FuelCell Energy (NASDAQ:FCEL) and its peers as we unravel the now-completed Q1 renewable energy earnings season. Renewable energy companies are buoyed by the secular trend of green energy that is upending traditional power generation. Those who innovate and evolve with this dynamic market can win share while those who continue to rely on legacy technologies can see diminishing demand, which includes headwinds from increasing regulation against 'dirty' energy. Additionally, these companies are at the whim of economic cycles, as interest rates can impact the willingness to invest in renewable energy projects. The 18 renewable energy stocks we track reported a mixed Q1. As a group, revenues beat analysts' consensus estimates by 5.2% while next quarter's revenue guidance was 1.1% above. Luckily, renewable energy stocks have performed well with share prices up 21.8% on average since the latest earnings results. Founded in 1969, FuelCell Energy (NASDAQ: FCEL) is a leading manufacturer and developer of carbonate fuel cell technology for stationary power generation. FuelCell Energy reported revenues of $37.41 million, up 66.8% year on year. This print exceeded analysts' expectations by 14.4%. Despite the top-line beat, it was still a softer quarter for the company with a significant miss of analysts' adjusted operating income estimates. 'In our second fiscal quarter, we delivered sequential revenue growth and continued executing on the disciplined cost management strategy we initiated in late 2024, in recognition of the changing energy landscape,' said Jason Few, President and Chief Executive Officer. Interestingly, the stock is up 2.3% since reporting and currently trades at $5.32. Read our full report on FuelCell Energy here, it's free. With its name deriving from a combination of 'generating' and 'AC', Generac (NYSE:GNRC) offers generators and other power products for residential, industrial, and commercial use. Generac reported revenues of $942.1 million, up 5.9% year on year, outperforming analysts' expectations by 2.3%. The business had a stunning quarter with an impressive beat of analysts' EPS estimates and a solid beat of analysts' EBITDA estimates. The market seems happy with the results as the stock is up 30.5% since reporting. It currently trades at $147.70. Is now the time to buy Generac? Access our full analysis of the earnings results here, it's free. One of the first EV charging companies to go public, Blink Charging (NASDAQ:BLNK) is a manufacturer, owner, operator, and provider of electric vehicle charging equipment and networked EV charging services. Blink Charging reported revenues of $20.75 million, down 44.8% year on year, falling short of analysts' expectations by 24.3%. It was a disappointing quarter as it posted a significant miss of analysts' adjusted operating income estimates. Blink Charging delivered the weakest performance against analyst estimates and slowest revenue growth in the group. Interestingly, the stock is up 4.9% since the results and currently trades at $0.91. Read our full analysis of Blink Charging's results here. Founded in 1987, American Superconductor (NASDAQ:AMSC) has shifted from superconductor research to developing power systems, adapting to changing energy grid needs and naval technology requirements. American Superconductor reported revenues of $66.66 million, up 58.6% year on year. This print beat analysts' expectations by 10.6%. Overall, it was a stunning quarter as it also logged a solid beat of analysts' EBITDA estimates and revenue guidance for next quarter exceeding analysts' expectations. The stock is up 48.1% since reporting and currently trades at $35.89. Read our full, actionable report on American Superconductor here, it's free. Established in 2006, SolarEdge (NASDAQ: SEDG) creates advanced systems to improve the efficiency of solar panels. SolarEdge reported revenues of $219.5 million, up 7.4% year on year. This result topped analysts' expectations by 7.3%. It was a strong quarter as it also put up a solid beat of analysts' adjusted operating income estimates and a decent beat of analysts' EPS estimates. The stock is up 69.8% since reporting and currently trades at $21.94. Read our full, actionable report on SolarEdge here, it's free. In response to the Fed's rate hikes in 2022 and 2023, inflation has been gradually trending down from its post-pandemic peak, trending closer to the Fed's 2% target. Despite higher borrowing costs, the economy has avoided flashing recessionary signals. This is the much-desired soft landing that many investors hoped for. The recent rate cuts (0.5% in September and 0.25% in November 2024) have bolstered the stock market, making 2024 a strong year for equities. Donald Trump's presidential win in November sparked additional market gains, sending indices to record highs in the days following his victory. However, debates continue over possible tariffs and corporate tax adjustments, raising questions about economic stability in 2025. Want to invest in winners with rock-solid fundamentals? Check out our Hidden Gem Stocks and add them to your watchlist. These companies are poised for growth regardless of the political or macroeconomic climate. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Washington Post
26-06-2025
- Politics
- Washington Post
Louisiana is latest state to redefine natural gas -- a planet-warming fossil fuel -- as green energy
Louisiana is the latest state to redefine natural gas as green energy under a new law the Republican governor signed this week, even though it's a fossil fuel that emits planet-warming greenhouse gases. Three other states led by Republicans— Indiana, Ohio and Tennessee— have passed similar legislation. In some Democratic-led states, there have been efforts to phase out natural gas. New York and California cities like San Francisco and Berkeley have moved to ban natural gas hookups in new buildings, though some of these policies have been successfully challenged in court. President Donald Trump has signed a spate of executive orders promoting oil, gas and coal , which all warm the planet when burned to produce electricity. The European Union previously designated natural gas and nuclear as sustainable , a move that Greenpeace and the Austrian government are suing over . Louisiana Gov. Jeff Landry, a major booster of the state's petrochemical industry, says the new law 'sets the tone for the future' and will help the state 'pursue energy independence and dominance.' Environmental groups say these new laws are part of a broader push by petrochemical industry-backed groups to rebrand fossil fuel as climate friendly and head off efforts to shift electric grids to renewables, such as solar and wind. It's 'pure Orwellian greenwashing,' said Tim Donaghy, research director of Greenpeace USA. Globally, the term green energy is used to refer to energy derived from natural sources that do not pollute — solar, wind, hydropower and geothermal energy. Louisiana's law could enable funds slated for state clean energy initiatives to be used to support natural gas. Natural gas has been the top source of electricity generation in the United States for about a decade, since surpassing coal. Coal and natural gas both produce carbon dioxide that warms the planet when burned, but coal produces over twice as much . Switching from coal to natural gas lowers carbon dioxide emissions, but it can increase emissions of methane. The primary component of natural gas, methane is an extraordinarily powerful greenhouse gas, more potent at trapping heat than carbon dioxide and responsible for about 30% of today's global warming. Besides coal, everything else is better than gas for the planet, said Rob Jackson, a Stanford University climate scientist. Building new gas plants locks in fossil fuel emissions for decades, he added. Louisiana's law orders state agencies and utilities regulators to 'prioritize' natural gas, along with nuclear power, on the grounds that it will improve the affordability and reliability of the state's electricity. The law's author, Republican Rep. Jacob Landry, runs an oil and gas industry consulting firm. 'I don't think it's anything crippling to wind or solar, but you got to realize the wind don't blow all the time and the sun don't shine every day,' Landry said. The legislation 'is saying we need to prioritize what keeps the grid energized,' he added. Landry told The Associated Press that he used a model bill by the American Legislative Exchange Council as a template. ALEC is a conservative think tank with ties to the oil and gas industry's billionaire Koch family . ALEC helped shape Ohio's 2023 law to legally redefine natural gas as a source of green energy, according to documents obtained by watchdog group Energy and Policy Institute and first reported by the Washington Post. Ohio's legislation was also heavily influenced by an advocacy group led by Republican megadonor Tom Rastin, a now retired gas industry executive. According to Dave Anderson, policy and communications manager for the Energy and Policy Institute, these laws are part of a long-running disinformation campaign by the gas industry to cast their product as clean to protect their businesses and prevent a shift to renewable energy sources that will address the climate crisis. 'The goal is to elbow out competition from renewables from wind and solar, and in some cases preempt localities' ability to choose to pursue 100% truly clean energy,' Anderson said, adding that ALEC's legislation makes natural gas 'eligible for state and local clean energy standards and funding.' Gov. Landry and other proponents of the new law said they want to make sure that residents and businesses have a reliable electric grid. Nearly 80% of Louisiana's grid is already powered by natural gas. Landry said that businesses will come to Louisiana if they know they can count on the state's electric grid. He highlighted Meta's plan to build a massive AI data center powered by three natural gas plants. Louisiana's law orders utilities providers to prioritize nuclear energy as well. Nuclear power does not emit greenhouse gases while producing electricity. However, critics say it is more expensive than solar and wind and the U.S. does not have a sufficient long-term solution for storing the waste. Consumer advocates say states do not need to embrace natural gas at the expense of wind, solar and other technologies to have a reliable grid. Legally mandating that utilities prioritize natural gas is 'blind to innovation, market evolution, and the practical demands of modern electric systems,' Jeffrey Clark, president of the Advanced Power Alliance, a renewable energy advocacy group, wrote in a statement opposing Louisiana's law. It's unclear to what extent Louisiana's utilities regulators will act on the order to prioritize natural gas over renewable energy. While Public Service Commissioner Davante Lewis, a Democrat, called the law 'unenforceable' and pledged to ignore it, his Republican counterpart Jean-Paul Coussan said promoting natural gas 'aligns well' with the state's economic growth. ___ McDermott reported from Providence, Rhode Island. ___ Brook is a corps member for The Associated Press/Report for America Statehouse News Initiative. Report for America is a nonprofit national service program that places journalists in local newsrooms to report on undercovered issues.
The Independent
26-06-2025
- Politics
- The Independent
Louisiana is latest state to redefine natural gas -- a planet-warming fossil fuel -- as green energy
Louisiana is the latest state to redefine natural gas as green energy under a new law the Republican governor signed this week, even though it's a fossil fuel that emits planet-warming greenhouse gases. Three other states led by Republicans— Indiana, Ohio and Tennessee— have passed similar legislation. In some Democratic-led states, there have been efforts to phase out natural gas. New York and California cities like San Francisco and Berkeley have moved to ban natural gas hookups in new buildings, though some of these policies have been successfully challenged in court. President Donald Trump has signed a spate of executive orders promoting oil, gas and coal, which all warm the planet when burned to produce electricity. The European Union previously designated natural gas and nuclear as sustainable, a move that Greenpeace and the Austrian government are suing over. Louisiana Gov. Jeff Landry, a major booster of the state's petrochemical industry, says the new law 'sets the tone for the future' and will help the state 'pursue energy independence and dominance.' Environmental groups say these new laws are part of a broader push by petrochemical industry-backed groups to rebrand fossil fuel as climate friendly and head off efforts to shift electric grids to renewables, such as solar and wind. It's "pure Orwellian greenwashing,' said Tim Donaghy, research director of Greenpeace USA. Globally, the term green energy is used to refer to energy derived from natural sources that do not pollute — solar, wind, hydropower and geothermal energy. Louisiana's law could enable funds slated for state clean energy initiatives to be used to support natural gas. Natural gas has been the top source of electricity generation in the United States for about a decade, since surpassing coal. Coal and natural gas both produce carbon dioxide that warms the planet when burned, but coal produces over twice as much. Switching from coal to natural gas lowers carbon dioxide emissions, but it can increase emissions of methane. The primary component of natural gas, methane is an extraordinarily powerful greenhouse gas, more potent at trapping heat than carbon dioxide and responsible for about 30% of today's global warming. Besides coal, everything else is better than gas for the planet, said Rob Jackson, a Stanford University climate scientist. Building new gas plants locks in fossil fuel emissions for decades, he added. Redefining natural gas Louisiana's law orders state agencies and utilities regulators to 'prioritize' natural gas, along with nuclear power, on the grounds that it will improve the affordability and reliability of the state's electricity. The law's author, Republican Rep. Jacob Landry, runs an oil and gas industry consulting firm. 'I don't think it's anything crippling to wind or solar, but you got to realize the wind don't blow all the time and the sun don't shine every day,' Landry said. The legislation 'is saying we need to prioritize what keeps the grid energized,' he added. Landry told The Associated Press that he used a model bill by the American Legislative Exchange Council as a template. ALEC is a conservative think tank with ties to the oil and gas industry's billionaire Koch family. ALEC helped shape Ohio's 2023 law to legally redefine natural gas as a source of green energy, according to documents obtained by watchdog group Energy and Policy Institute and first reported by the Washington Post. Ohio's legislation was also heavily influenced by an advocacy group led by Republican megadonor Tom Rastin, a now retired gas industry executive. According to Dave Anderson, policy and communications manager for the Energy and Policy Institute, these laws are part of a long-running disinformation campaign by the gas industry to cast their product as clean to protect their businesses and prevent a shift to renewable energy sources that will address the climate crisis. 'The goal is to elbow out competition from renewables from wind and solar, and in some cases preempt localities' ability to choose to pursue 100% truly clean energy,' Anderson said, adding that ALEC's legislation makes natural gas 'eligible for state and local clean energy standards and funding.' Questions over grid reliability Gov. Landry and other proponents of the new law said they want to make sure that residents and businesses have a reliable electric grid. Nearly 80% of Louisiana's grid is already powered by natural gas. Landry said that businesses will come to Louisiana if they know they can count on the state's electric grid. He highlighted Meta's plan to build a massive AI data center powered by three natural gas plants. Louisiana's law orders utilities providers to prioritize nuclear energy as well. Nuclear power does not emit greenhouse gases while producing electricity. However, critics say it is more expensive than solar and wind and the U.S. does not have a sufficient long-term solution for storing the waste. Consumer advocates say states do not need to embrace natural gas at the expense of wind, solar and other technologies to have a reliable grid. Legally mandating that utilities prioritize natural gas is 'blind to innovation, market evolution, and the practical demands of modern electric systems,' Jeffrey Clark, president of the Advanced Power Alliance, a renewable energy advocacy group, wrote in a statement opposing Louisiana's law. It's unclear to what extent Louisiana's utilities regulators will act on the order to prioritize natural gas over renewable energy. While Public Service Commissioner Davante Lewis, a Democrat, called the law 'unenforceable' and pledged to ignore it, his Republican counterpart Jean-Paul Coussan said promoting natural gas 'aligns well' with the state's economic growth. ___ McDermott reported from Providence, Rhode Island. ___
