18 Burst results for "Stephen Lacey"

"stephen lacey" Discussed on The Interchange

The Interchange

02:31 min | 5 months ago

"stephen lacey" Discussed on The Interchange

"What concentration fertilizer to apply to help reduce some of these field based emissions. That gets to my final question for you. Which is the role of policy and regulation here. I think that the world seems to be waking up to the impact of fertilizer on globe greenhouse gas emissions and. I think more recently in particular waking up to the nitrous oxide challenge which is which is big and sort of under studied and underappreciated but is becoming clearer. What do you see as being the pathways for government to step in and play a role to your point not to hurt farmers in the process but to provide a pathway to supporting decarbonisation. That's a that's a great question policy is going to be a major point of this and it's you know there's you can cover every aspect of the market. Think one thing is helping. The big players decarbonised the large factories And then and then helping reduce safety hazards in the shipping of fertilizer is another big one but now to your points on the field. How do we target Nitrous oxide emissions It's got to be the same way that we're targeting nitrate run-off today you know we we just need the public to be aware of it. We need policymakers to start implementing Not big stops renewed little steps towards nitrous oxide emissions and but but most importantly we need former buying. I think you know we need these. These solutions to be proposed by the communities that will have to implement the The new approaches. So i i think that For policy to get out to to the agricultural regions and ask farmers about these emissions. And you know how how they might Their recommendations on how to reduce it. And and i i bet it will come down to increasing the frequency of application and helping reduce the price says of the correct i on for the soil in those regions of love. A major impact nico. Thank you so much for doing this. Thank you for having managed nico. Penkovsky is the ceo and co founder of nitrous ity car producers. Are daniel waldorf and dalvin and stephen lacey. I'm shell khan and this is the inner change..

nico Penkovsky daniel waldorf dalvin stephen lacey khan
"stephen lacey" Discussed on The Energy Gang

The Energy Gang

06:13 min | 5 months ago

"stephen lacey" Discussed on The Energy Gang

"From stephen lacey. Welcome as crude oil. Prices shoot backup. Oil majors are seeing billions in quarterly profits under pressure from activists investors. And now the courts were they spend it on the energy transition or just more share buybacks and oil rigs plus a new report card. On america's infrastructure is a slight improvement but the grade is still pretty awful and carbon. Offsets are going up in flames literally in culpeper. Virginia is catherine hamilton. How are you gathering. I'm doing great We decided ourselves to go off of oil and we least an electric vehicle out here in rural virginia and the other weekend. We went to visit james. Madison's home of montpellier and we were a little bit nervous because we had to drive a ways in our easy and we pulled up. Eight charging stations four tesla's and four for the other slobs and we fall into the other subcategory. So we're pretty excited. What is being in other schlub means nerve model. Well we actually got the volvo Lease until we can just test it. See what it's like. It's the Xp forty. I think it's called like the little suv and And then in three years when a lot more models already. We can make a more informed decision. We may end up an f. One fifty lightning for all. I know in new york. It is our guest co host. this week ed crooks. He's vice chair of the americas wood. Mackenzie and easy former energy editor at the financial times. You may have heard his voice a number of times on our sister. Podcast the interchange ed. How are you welcome. Hello hi great to be here Yeah like a catherine. I've also just been using plug in car. We've just got back from england. Just back from three expectation their first time in more than eighteen months seeing family and friends. So that's been fantastic to do. We actually rented a plug in hybrid. Skoda where there you go. That's the check Comedy it's the kind of the budget brand of the volkswagen group and that she really liked it. We thought it's fantastic and it clearly. It's a bit of a different experience from a full battery v but we were getting We plug it in overnight and we would get ten or twenty miles of all electric driving out of it which she was really good. So yeah that was. I was impressed by that. Experience would be fascinated here by the over. For a long time england. We used to drive a diesel volvo. Which was a lovely car. We're very fond of it and now thinking again about Having a maybe a an electric volvo in the future so when i hear from you katherine how you get with that and see if you like it. Yeah so far so good. Yeah absolutely. I saw that brent. Crude prices are dropping today. So maybe it was your driving habits with. Ev's hybrids that have caused the decrease in global oil prices. Yeah i. I've been doing my bit for jet alone. Unfortunately well since the start of the pandemic we've heard from ed a number of times who come on to explain the while swings in global oil prices and how it feeds into the pressure. That oil majors are facing. We started this pandemic at negative oil prices because there was no place to store it and today benchmark prices are hovering above seventy dollars and top oil companies reporting billions of dollars in profits as a result. But there's also more scrutiny than ever on how going to spend that money activist. Shareholders are starting to get climate champions on major board seats most notably the push to get climate tech investor and former wind executive and Doe official andy. Cars ner on exxonmobil's board. A dutch court is now forcing shell to reduce emissions from its products by forty five percent after a successful lawsuit from environmental groups and oil execs. Now have their lawyers on speed. Dial and big asset managers like blackrock which lend to many of the world's energy giants are scrutinizing climate plans. So what is all this amount to as oil markets rebound. Ed just set the scene for us compared today's oil market with the one from a year ago over a year ago when the pandemic shut everything down yet it's been absolutely transformed in that Fifty since the worst of the pandemic impact Back in the spring of twenty twenty as oil prices being on a very steady upward trajectory really since october november of last year and Since june of this year they beaten in the kind of seventy dollars range. Sometimes up above seventy five dollars a barrel. Even for benchmark brent crude. But it's really a very comfortable level for the oil industry and as we've seen these very good earnings from oil companies Just a couple of weeks. Second quarter has generally been an excellent quarter in terms of oil company profits. Couple of crucial things are getting on that driving. That firstly cost. There is just the Revival in the world economy the world kind of getting back to normal as evidenced by the fact of people like me getting on vacation Oil demand has been picking up gasoline. Diesel jet fuel and everything about that d'amato's increasing and also we've still got this impact from the opec plus countries from the member. Saudi arabia kuwait the zone And also their allies outside opec countries like russia kazakhstan mexico that have agreed to curb their output so they took a lot of oil of the market last year and they still haven't pulled that back on the market and the result is being actually a fairly tight oil market worldwide. and that's Kept prices up there. Is this concern about whether a concern in the business about with a prices are gonna stay at these kind of levels because people say will be might slow down again. This concern Just recently the policy days about the impact of the delta variant in asia and particularly..

stephen lacey catherine hamilton volvo ed crooks culpeper montpellier england dutch court Skoda Mackenzie Madison americas Lease Virginia virginia volkswagen
"stephen lacey" Discussed on The Interchange

The Interchange

08:06 min | 6 months ago

"stephen lacey" Discussed on The Interchange

"Just play the game buddy game. I think you're just nervous. You're waving your hands all about froth whose answer in this on this week. The price is right deep decarbonization edition. This is the energy. i'm shell con. I'm a partner at the venture capital firm energy impact partners. Welcome so we're doing something a little bit different today. In the tradition of bob barker and now drew carey we are gonna play. A game of the price is right we you know on this show. In general we cover a smorgasbord of figures around some of the trends and climb attack and decarbonisation so we wanted to run through a few of the most important ones but gamified it so we turn to our producer. Daniel waldorf whose name you've heard but whose voice you've never heard before to be our statistics gatherer and game show host And we brought our old friend. Stephen lacey who use co host. The show is an executive producer. Back behind the microphone to compete with me once again in a game of the price is right deep decarbonization addition. Let's see how we did stephen. Eleanor lacy welcome. Back to the interchange. Eleanor is that your. I don't know your middle name. I just took a yes at it. Even hook lacy welcome back to the entertain. Thank you. i'm still sitting here in the same five by five cube that you left me on last time. You've basically been there for the past two years. As far as i can tell emerging only to you know drink some water and like square is at the sunlight periodically. I have sump pump over on the other side of the wall. So that's where i get my water. Yeah you don't even need to go upstairs for that. Well i am very excited to have you back just like old times but we are bringing one additional friend on daniel waldorf who is there for every single recording that we make but has never on this side of the microphone so daniel welcome to the side of the mic. Thank you very much I guess with nobody behind the scenes to yell at you when you background noise. I don't know who's gonna do that. Now yeah i also. Who's going to do that for me. Stephen is that your job. I've already yelled at you before so we started off the recording with me complaining about your white noise. This is going to be like a painful trying sound nitpicking. Daniel this is your show. I'm handed it over to you. Thank you so we are going to follow in the footsteps of legendary bob barker and drew carey and do a prices right deep decarbonization edition. Where each of you is going to compete to get as close as you can to different statistics and figures. That are gonna tell something interesting about climate tech in the energy transition. So you all are going to have a chance to get as close as possible without going over a statistic and we'll do a little bit of explaining of a statistic is and why it matters and then what that actual price once we reveal. It means to you i love. This show is ultra competitive in everything that he does. How competitive are you feeling today. Shale it's like you said i wake up in the morning ultracompetitive. I go to bed ultra. I'm in this to win it. I wanted to bring you back on just to defeat you again. It's been a while since i've wanted some game on the show i have been told that in the previous Gamified episodes that we've done that. I sometimes come across a little too competitive. Say i'm sorry. Well i'm so excited to pit you against each other. So let's let's get into it so again. Get closest to the price without going over. If you win you get a single point. We're gonna do multiple rounds if you both go over. Reveal the price but no one gets a point and if you get right on the price or the figure you get double points. I just want to point out. I am literally drinking electrolytes right now just to make sure. I'm at the top of my game sponsored by gatorade. No this is like a hippie. Berkeley electrolyte drink which is not sponsoring me yet. But wilson. okay. So let's start with a warm up round We're just going to start with some evt's and some ms rpg's. So i'm going to ask you how much each of these cost right now Rpi and see how close so we're going to start with a tesla model three. Stephen i all right. So i'm embarrassed i don't i don't actually know thirty six thousand dollars. Oh that's going to be right in range. I don't know whether to go higher or lower. i think. Ms rpm he is just is. I think ms rpm is lower than that. I think he's gone over. So i'll say thirty thousand. Not because they think it's thirty but because his prices right and anything between thirty and thirty six hour win and stephen gets it. The m. s. p. For tesla model three is thirty. Nine thousand nine hundred and ninety dollars according to tussles website aright off to a rocky start shell but A hand off to you how. Ms rpm for a nissan leaf a nissan leaf. I think that's thirty thousand flat stephen. Twenty eight seven fifty one for shale. Thirty one thousand. Six hundred and seventy dollars solid. And i was i just want i was closer than stephen was on the model three. Yes you are yes you are and hopefully. Hopefully those movies keep dropping i My last car was a a a two thousand sixteen priests. And i really am kicking myself because i want and all right next up. This is the twenty th the two thousand twenty three. Gmc hummer base model. Evi what do you think it is. Stephen is so out of my league. I am going to say seventy five thousand dollars. Oh that was going to be right around. Where i was gonna guess too. I think it's higher thousand and one that's a classic strategy and shale gets it it is eighty thousand dollars. That is the estimated ms rpm. They haven't come up with the official numbers but that's what they have on their website so it is now steven one shale to all right. Let's move through this quick next up the base model twenty twenty two ford f one fifty lightning the ev model. I think it's like forty five thousand forty two thousand. You both go over. It is no one gets a point. It is the It is thirty nine thousand nine hundred. Seventy four dollars hot damn. That's not bad all right. So we've talked about some ev prices. And hopefully they keep dropping one way they drop is when they drive off the lot. And you purchase it on average how much do depreciate in three years off the lot man. Ten percent in three years isn't it like don't cars depreciate like ten percent seconds so i think in three years it's going to be like twenty five percent ten percent twenty five percent. Both of you are so off. It is fifty two percent one point one point four times greater than the average for all vehicles. This is a problem for us. At least if you're buying new if you're like me and you wanna use devi. This is a great time to buy. Is that like because of battery degradation or like the drive train. What's what do we know. It's also i think it's also because you know. Tv's are getting better so much faster than interesting wants one. Nobody wants the range you had three years ago. You want the read you have. That's a good stat. It's not a good stat actually. It's a bad staffer vs but it's.

stephen bob barker drew carey energy impact partners Daniel waldorf Stephen lacey Eleanor lacy daniel waldorf lacy Eleanor tesla nissan daniel Daniel Berkeley
"stephen lacey" Discussed on The Energy Gang

The Energy Gang

02:36 min | 8 months ago

"stephen lacey" Discussed on The Energy Gang

"B which <Speech_Male> is on tbs <Speech_Male> and often <Speech_Male> makes its way <Speech_Male> around the internet with <Speech_Male> good <Speech_Male> Funny clips <Speech_Male> dave. <Speech_Male> you know. Comedic sketches <Speech_Male> talking to <Speech_Male> experts based on <Speech_Male> things in the news <Speech_Male> and one recently <Speech_Male> was on the natural gas <Speech_Male> industries <Speech_Male> social media campaign <Speech_Male> to convince <Speech_Male> people to use <Speech_Male> gas stoves. <Speech_Male> We talked <Speech_Male> about that extensively <Speech_Male> on a <Speech_Male> recent <Speech_Male> show with donell baird <Speech_Male> and the gas <Speech_Male> industry of course now <Speech_Male> sees these <Speech_Male> gas bands as a real <Speech_Male> threat and all <Speech_Male> of a sudden. There's this <Speech_Male> shift about <Speech_Male> how we're using <Speech_Male> gas and homes <Speech_Male> in the gas industry <Speech_Male> <Speech_Male> Understands that <Speech_Male> they need to push <Speech_Male> back and <Speech_Male> alana harkin did <Speech_Male> a piece <Speech_Male> kind of joking <Speech_Male> about the gas industries <Speech_Male> <Speech_Male> Social <Speech_Male> media tactics to <Speech_Male> convince people to use more <Speech_Male> gas in their homes but <Speech_Male> also she <Speech_Male> reviewed the <Speech_Male> indoor air <Speech_Male> quality problem. And <Speech_Male> there's been you know in the last <Speech_Male> couple of years a <Speech_Male> lot of great research <Speech_Male> showing how <Speech_Male> natural gas use <Speech_Male> in the home for <Speech_Male> cooking can <Speech_Male> cause severe <Speech_Male> <Speech_Male> Air quality <Speech_Male> that would be illegal <Speech_Male> outside of <Speech_Male> the home. And <Speech_Male> <Speech_Male> i just feel <Speech_Male> like change works. <Speech_Male> Its way and really <Speech_Male> funny ways through society <Speech_Male> and influences <Speech_Male> behavior <Speech_Male> and perceptions <Speech_Male> and two years <Speech_Male> ago very few people were talking <Speech_Male> about this and now it's <Speech_Male> become a <Speech_Male> story worth mocking <Speech_Male> on national <Speech_Male> television. <Speech_Male> So it feels to me like <Speech_Male> this is a a small <Speech_Male> story but an <Speech_Male> important cultural moment <Speech_Male> for how <SpeakerChange> we view <Speech_Female> natural gas. <Speech_Female> Yeah <Speech_Female> even slept with <Speech_Female> the induction hot plate. Evidently <Speech_Female> <Speech_Female> <SpeakerChange> <Speech_Female> it was great. <Speech_Female> It was it was <Speech_Female> a great bit and <Speech_Female> <Speech_Male> Super interesting. <SpeakerChange> <Speech_Male> <Speech_Male> <Advertisement> I think that's going to do it for <Speech_Male> the show. Joe <Speech_Male> really <Speech_Male> your name has <Speech_Male> been mentioned so many times <Speech_Male> less show and we're so <Speech_Male> glad to actually <Speech_Male> have you on thanks for <Speech_Male> taking the time. Thanks <Speech_Music_Male> for having <Speech_Male> catherine <Speech_Male> I've seen a dog <Speech_Male> wander in and out of your room <Speech_Male> a couple of times during this conversation. <Speech_Male> I think. I think <Speech_Music_Male> you need to go. <SpeakerChange> Walk a <Speech_Female> dog now. <Speech_Female> That's the one. That's <Speech_Music_Female> been eating the <SpeakerChange> cicadas <Speech_Music_Female> and i'm a little worried <Speech_Male> <Speech_Male> joe. <Speech_Male> Daniel <Speech_Male> is a senior <Speech_Music_Male> energy analyst at the union <Speech_Music_Male> of concerned scientists. <Speech_Music_Male> Catherine <Speech_Music_Male> hamilton <Speech_Music_Male> is my co host <Speech_Music_Male> and co founder <Speech_Male> and chair. Thirty eight north <Speech_Male> solutions. Thanks <Speech_Male> to both of you. Thanks <Speech_Male> to all of you for listening. <Speech_Music_Male> We really appreciate <Speech_Music_Male> you being with us. <Speech_Music_Male> And of course <Speech_Music_Male> he's up with a rating <Speech_Music_Male> and review. <Speech_Male> Get to us <Speech_Music_Male> on social media with <Speech_Music_Male> your ideas. If you <Speech_Music_Male> want to respond to <Speech_Music_Male> our conversation <Speech_Music_Male> to joe's analysis <Speech_Music_Male> ask questions <Speech_Music_Male> please. <Speech_Music_Male> Were all there on <Speech_Music_Male> twitter. So you can <Speech_Music_Male> tag us and we <Speech_Music_Male> will hopefully <Speech_Music_Male> get back to you <Speech_Music_Male> and we will. Of <Speech_Music_Male> course catch you <Speech_Male> next week. I'm <Speech_Male> stephen lacey. This <Speech_Music_Male> is the energy gang <Speech_Music_Male> weekly debates <Speech_Music_Male> and discussions about <Speech_Music_Male> the fast <SpeakerChange> changing <Speech_Music_Male> world of energy.

Catherine Daniel Joe next week twitter alana harkin two years donell baird Speech_Music_Male couple of years both of you Thirty couple of times people hamilton Speech_Male eight north
"stephen lacey" Discussed on Climate 2020

Climate 2020

01:32 min | 2 years ago

"stephen lacey" Discussed on Climate 2020

"<Music> <Music> <Music> <Music> <Music> <Advertisement> <Music> Climate Twenty Twenty is <Speech_Male> produced in association <Speech_Male> <Advertisement> with a year's project <Speech_Music_Male> <Speech_Music_Male> <Advertisement> and by postscript <Speech_Music_Male> <Advertisement> audio <Speech_Music_Male> <Advertisement> <Speech_Music_Male> funding provided <Speech_Music_Male> by Exelon <Speech_Music_Male> at company that believes <Speech_Music_Male> that confronting climate climate <Speech_Music_Male> change is essential <Speech_Music_Male> to <Speech_Music_Male> maintaining the strength <Speech_Music_Male> and prosperity <Speech_Music_Male> at the cities. It serves <Speech_Music_Male> that's <Speech_Music_Male> why the excellent foundation <Speech_Music_Male> launched a twenty <Speech_Music_Male> million dollar <Speech_Music_Male> Climate Change Investment Investment <Speech_Music_Male> <Advertisement> Initiative <Speech_Music_Male> <Advertisement> to fund entrepreneurs <Speech_Male> <Advertisement> finding new <Speech_Music_Male> <Advertisement> solutions to fighting <Speech_Music_Male> <Advertisement> climate change <Speech_Music_Male> <Advertisement> for <Speech_Music_Male> more Info Visit Excellent <Speech_Music_Male> <Advertisement> Foundation <Speech_Music_Male> Dot Org. <Speech_Music_Male> <Advertisement> The show is hosted you <Speech_Music_Male> <Advertisement> by David <Speech_Music_Male> <Advertisement> Gilbert and me <Speech_Music_Male> <Advertisement> Jeff NASA <Speech_Music_Male> <Advertisement> climate twenty twenty <Speech_Music_Male> is produced by Jamie <Speech_Music_Male> Kaiser Daniel <Speech_Music_Male> Waldorf and <Speech_Music_Male> Stephen Lacey. <Speech_Music_Male> Sean <Speech_Music_Male> Marquand does our sound on <Speech_Music_Male> designer and composed <Speech_Music_Male> our theme music <Speech_Music_Male> digital music <Speech_Music_Male> and cover art by <Speech_Music_Male> can't Nickerson <Speech_Music_Male> Ben. Branston <Speech_Music_Male> is our production intern. <Speech_Music_Male> <Speech_Music_Male> Follow us on twitter <Speech_Music_Male> <Advertisement> and instagram. At climate. <Speech_Music_Male> <Advertisement> Two Thousand Twenty <Speech_Music_Male> <Advertisement> pod <Speech_Music_Male> <Advertisement> subscribe now and <Speech_Male> apple podcasts. Or <Speech_Male> wherever you listen to <Speech_Male> podcasts and please <Speech_Music_Male> <Advertisement> <Speech_Music_Male> <Advertisement> consider giving us <Speech_Music_Male> <Advertisement> a rating <Speech_Music_Male> high <Speech_Music_Male> <Advertisement> helps <SpeakerChange> us get discovered <Speech_Music_Male> by others care <Speech_Music_Male> <Advertisement> about climate in politics <Speech_Music_Male> for <Speech_Music_Male> <Advertisement> more information about US <Speech_Music_Male> <Advertisement> visit us at climate <Speech_Music_Male> <Advertisement> twenty podcast <Speech_Music_Male> <Advertisement> dot com. <Speech_Music_Male> And please <Speech_Music_Male> come back again next. It's <Speech_Music_Male> Thursday to hear the <Speech_Music_Male> latest climate <Speech_Music_Male> change in the twenty <Speech_Music_Male> twenty election. <Music>

"stephen lacey" Discussed on Climate 2020

Climate 2020

01:32 min | 2 years ago

"stephen lacey" Discussed on Climate 2020

"<Music> <Music> <Music> <Music> <Music> <Advertisement> <Music> Climate Twenty Twenty is <Speech_Male> produced in association <Speech_Male> <Advertisement> with a year's project <Speech_Music_Male> <Speech_Music_Male> <Advertisement> and by postscript <Speech_Music_Male> <Advertisement> audio <Speech_Music_Male> <Advertisement> <Speech_Music_Male> funding provided <Speech_Music_Male> by Exelon <Speech_Music_Male> at company that believes <Speech_Music_Male> that confronting climate climate <Speech_Music_Male> change is essential <Speech_Music_Male> to <Speech_Music_Male> maintaining the strength <Speech_Music_Male> and prosperity <Speech_Music_Male> at the cities. It serves <Speech_Music_Male> that's <Speech_Music_Male> why the excellent foundation <Speech_Music_Male> launched a twenty <Speech_Music_Male> million dollar <Speech_Music_Male> Climate Change Investment Investment <Speech_Music_Male> <Advertisement> Initiative <Speech_Music_Male> <Advertisement> to fund entrepreneurs <Speech_Male> <Advertisement> finding new <Speech_Music_Male> <Advertisement> solutions to fighting <Speech_Music_Male> <Advertisement> climate change <Speech_Music_Male> <Advertisement> for <Speech_Music_Male> more Info Visit Excellent <Speech_Music_Male> <Advertisement> Foundation <Speech_Music_Male> Dot Org. <Speech_Music_Male> <Advertisement> The show is hosted you <Speech_Music_Male> <Advertisement> by David <Speech_Music_Male> <Advertisement> Gilbert and me <Speech_Music_Male> <Advertisement> Jeff NASA <Speech_Music_Male> <Advertisement> climate twenty twenty <Speech_Music_Male> is produced by Jamie <Speech_Music_Male> Kaiser Daniel <Speech_Music_Male> Waldorf and <Speech_Music_Male> Stephen Lacey. <Speech_Music_Male> Sean <Speech_Music_Male> Marquand does our sound on <Speech_Music_Male> designer and composed <Speech_Music_Male> our theme music <Speech_Music_Male> digital music <Speech_Music_Male> and cover art by <Speech_Music_Male> can't Nickerson <Speech_Music_Male> Ben. Branston <Speech_Music_Male> is our production intern. <Speech_Music_Male> <Speech_Music_Male> Follow us on twitter <Speech_Music_Male> <Advertisement> and instagram. At climate. <Speech_Music_Male> <Advertisement> Two Thousand Twenty <Speech_Music_Male> <Advertisement> pod <Speech_Music_Male> <Advertisement> subscribe now and <Speech_Male> apple podcasts. Or <Speech_Male> wherever you listen to <Speech_Male> podcasts and please <Speech_Music_Male> <Advertisement> <Speech_Music_Male> <Advertisement> consider giving us <Speech_Music_Male> <Advertisement> a rating <Speech_Music_Male> high <Speech_Music_Male> <Advertisement> helps <SpeakerChange> us get discovered <Speech_Music_Male> by others care <Speech_Music_Male> <Advertisement> about climate in politics <Speech_Music_Male> for <Speech_Music_Male> <Advertisement> more information about US <Speech_Music_Male> <Advertisement> visit us at climate <Speech_Music_Male> <Advertisement> twenty podcast <Speech_Music_Male> <Advertisement> dot com. <Speech_Music_Male> And please <Speech_Music_Male> come back again next. It's <Speech_Music_Male> Thursday to hear the <Speech_Music_Male> latest climate <Speech_Music_Male> change in the twenty <Speech_Music_Male> twenty election. <Music>

Clean Energy's Ever-Changing Policy Risk

The Energy Gang

12:25 min | 2 years ago

Clean Energy's Ever-Changing Policy Risk

"In the summer of two thousand eight Britta von Essen took an internship with a major investment bank after wrapping up business school. It was considered at the time one of the top places to work it was with a company called Lehman Brothers and it was actually a fascinating summer. I was working in their global power group but focused on renewable energy and you know there was a lot going on at the time. Tax Equity was really ramping up. People were figuring out how the structuring was going to work with that. There are a couple. IPO's that were right on the horizon so it was a fascinating summer from renewables perspective and also what was going on at Leeman. It's been an unnerving week for US financial markets and now the potential collapse of Lehman Brothers once the fourth largest investment firm in the US at at that time. Lehman Brothers was the top investor in renewables it had bought big portfolios of wind and solar projects. It was a leading equity investor and it was helping take companies public it was an exciting time but as the summer war on market conditions worsened investors got nervous in things got grim for Leman analysts say the bank's future is in doubt out afterward reported a loss of nearly four billion dollars in the last quarter. Leman brothers is suffered heavy losses as a result of the US housing slump while I was there. It was just constant reassurance that that these cycles are normal and and you know financial markets go through this occasionally and everything was going behind of course it was not fine be one of the watershed days in financial markets histories. He was a manic manic Monday in the financial markets. The Dow tumbled more than five hundred points after two pillars of the street tumbled over the weekend leman brothers or one hundred and fifty eight-year-old firm filed for bankruptcy in the lead up to the Leeann bankruptcy in the fall. IPO's fell apart project financing dried up and cleantech companies beneath loans underwritten by the bank were suddenly exposed to risks. They didn't foresee. BRITTA had a front row seat to all of it. After leaving lemon she picked up and moved to Italy where she helped build wind and solar projects for a German developer soon after she witnessed yet another period of chaos the swift rollback of feed in tariffs the Italian market came to a screeching screeching halt. It did teach me a lot about developer resiliency the fundamental optimism that is required to be of renewable energy developer and and taking the long view on a lot of these projects so British took those lessons and apply them to the next chapter of her career. She now advises clean energy companies knees on how to manage risk so you've managed to witness the collapse of one of the biggest investment banks and one of the biggest European renewable energy markets back to back. That's quite an entrance into the industry well. I swear it's not me I'm not the not the driver and all of this but I think what it taught me was that things change and the markets move and those that are resilient and those that figure out how to work in the new paradigms that they're given are the ones who are successful so I've taken a huge amount of those lessons into my current job and into my current business where I'm basically advising folks how to roll with the ever changing markets that we see in wind and solar. I'm Stephen Lacey in this episode produced in partnership with Cohnresnick and cohnresnick capital talking talking with British Ivano sin about those ever changing market conditions today Britta's a managing director at cohnresnick capital over the last decade. She's seen all kinds of market risk mostly expiring or changing policies that create financial risk you know I it was the sixteen o three grant expiring then it was. ITC expiring PTC's stepping down. What are the safe harbor policies we we didn't even get the IT safe safe harbor policies until fairly recently. I think it's just a fundamental aspect of this industry. It's Salat about planning for the unexpected in British. Job is to help figure out how to get renewable energy deals done in the face of those challenges so I sat down with her to unpack some of those policy uncertainties and what they mean for renewables and I wanted to know how often does policy change derail projects so I have. You've worked on project many projects that were potentially derailed that we manage to work around various policy changes. I think change in tax law was a really interesting time where we had to figure out how to keep the investors active of an investing in two projects that would probably not be commissioned for another twelve months and how to get around the fact that there was a very likely change in tax law to be passed at that time and yet nobody knew exactly what that was going to look like. I think this PG bankruptcy recently and the California I think it was a be ten fifty four the wildfire response bill that has been high in the mind of a lot of California developers at the moment who were focused on contracts with sce NASD Johnnie and whether or not those credit ratings. We're GONNA take ahead that policy was passed and I think both of those organizations are are quite secure and short up and that was that was great news for California winging developers across the board with or without contracts well. Let's walk through some of the big drivers and uncertainties around them so you mentioned. PG Ag any I'd like to talk about PG and understand. What are you now looking for in a bankruptcy proceeding what kind of risks to contracts tracks are there currently what has been sorted out and what's still left to be sorted out that would impact renewable energy developers so I believe there is still still quite a bit of uncertainty as far as the potential for PG any to cancel contracts that are considered out out of market today so these would be some of the earlier vintage. PPA's there are several conversations and I know cohnresnick has been a part of several several of these about trying to restructure this through bilateral negotiations with pg any and kind of nipping in the bud lead and coming to a good solution for all parties but otherwise I think there is still a strong degree of uncertainty here there there are investors who are then making plays in this and trying to pick up these assets making a bet as to whether or not there will be restructuring of the contracts are not as as well as you know. It's an unfortunate situation but it's certainly a very active group of projects and sponsors that are figuring out working working through how to navigate that uncertainty. Let's go to tax equity. The solar investment tax credit is now facing the beginning of its step down schedule this is obviously going to impact the economics of project development but we have had some clarity on this step down unscheduled for for years now how is facing down the IDC GONNA change the way projects are financed and does it present any risks that were not there previously so you're right. There is a very clear step down schedule which I think has been helpful for folks trying to new forecasts what this looks like that being said given the safe harbor provision. I would venture that there is a generic assumption option from those who are procuring. PPA's at the moment that their assets that their projects will be safe harbored many of the major. I pee pees Jason. Strategic are making significant safe harbor place. They are you know doing this both for their own projects jags and under the assumption that there will be Ebony advantages over the next few years which I agree with. I think a lot of these developers that are procuring making this assumption are going to limit themselves to buyers of the assets that can then fulfill the safe harbor in order to meet the Economics Amax. What do you think the chances of an extension of the investment tax credit are. I know that the Solar Energy Industries Association has all of a sudden and put this back on their priorities list. They think maybe there's an opening to extend the federal tax credit. What do you think the chances of that arc given what you know so there's a couple a couple aspects of this that are important absolutely it would be beneficial to the industry right that being said we are months away from the step down last time this extension happened. I think we had a good twelve months of lead time so it allowed loud folks to plan at least partially accordingly in this case you would actually jam up probably some more some of the more major players who have made significant safe harbor plays that would have been capital that was not necessary to deploy a and potentially at pricing that is not beneficial to their assets so there are mixed mixed feelings throughout the industry about this. I think there is a decent chance I also think it's interesting giving kind of the economic markets at the moment and the potential for a downturn. Let's call it in the next twelve to eighteen months renewable such a critical component of job security and job growth in the US economy at the moment that especially if we're facing some type of downturn it may increase congressional and government support for some type of extension here. What about the storage tax credit. That's been floating around Congress for for a long time if there is this renewed push for potential solar. It see where does the storage. I T C fit in there would would it be something separate. Would it be wrapped together. And what do you think the chances of getting this thing finally pastor. I think the storage credit is actually much more critical critical than the than the solar one in the in the near term here I think with Alda we will continue to have murkiness around trying trying to loop storage into either wind or solar tax credits which is is just messy. It's hard for investors to get their heads around it. Just adds a lot of confusion and it also limits what you can do from adding storage onto existing renewable energy projects objects. I think throughout the energy community there is a consensus that storage is a critical component that needs to be deployed on a large scale will in order for renewables to continue on the growth. It is an in order to hit. Some of these are targets hundred percent in California boring. If for example you you have to have the storage component there otherwise you're facing you know a variety of issues on you know intermittent see or demand or any variety of aspects so. I am a little more bullish on the storage tax credit. I I think a standalone tax credit does a lot to simplify and streamline financing aspects for storage whether or not it connected to renewables and whether or not commissioned at the same time as the

Lehman Brothers Developer United States California IPO PPA Britta Solar Energy Industries Associ Britta Von Essen Leeman Pg Ag Leman PTC
"stephen lacey" Discussed on New Jersey 101.5

New Jersey 101.5

01:50 min | 2 years ago

"stephen lacey" Discussed on New Jersey 101.5

"Just it's kind of counter intuitive it's so hot you're brining roads I am G. you wouldn't Brian roads for heat but then again you wouldn't Brian roads for days in the winter when there's no snow in the forecast and yet he did it sorry Alan Leh good you're a New Jersey one one point five the other one doing here in the station see he's trying to build a report yeah see he's coming in smart okay it's so hot that even Whoopi Goldberg put on deodorant that was Doyle but that's a good one you see known for not she just looked like somebody who doesn't one like the type I can see that hello thanks for your call I never thought about that that would be Goldberg looks like she doesn't have the odor now I can I can buy the joy Behar too I can see both of them hello hi well I I've still got twenty dollars in my wallet here if anybody wants at one eight hundred two eight three one a one point five Stephen Lacey here in New Jersey one one point five it doesn't go up a little hello my job has been so hot outside even you doing goals what some might because illegals wooden buyers I guess that's really good well he's talk about ice right right yeah immigrations cost yeah yeah that's actually that's a well crafted joke I'm sorry I don't know why I didn't laugh at that was the best one so far Steve hi sorry I know I didn't laugh but that was that was decent a lot of people would have that was good and was topical you want that's like something okay.

Alan Leh Whoopi Goldberg Doyle Stephen Lacey New Jersey joy Behar Steve twenty dollars
"stephen lacey" Discussed on The Interchange

The Interchange

04:17 min | 3 years ago

"stephen lacey" Discussed on The Interchange

"So shale are you ready to give some career advice? I don't know, man. I always feel sort of ill equipped to dole out career wisdom. We why you're never short of opinions or observations. That's true. I guess, but you know, I always feel like my the only advice that I can give a sort of born of my my own personal unique and somewhat odd experience of a career. And so I I never feel totally like I've I have anything to impart that is universal. I think you're selling yourself short. But because you're hung up on this. I think I can help I talked to a listener who can give us a place to start this conversation. I Nicole, Stephen Lacey. How are you? I caught her during her work day at a venture backed ecommerce startup. She didn't want us to use any details that could link her to the employer. So we'll just keep it at that. Okay. Got it. Yeah. I'm taking time out of my office day said that would be much needed break. Nicole is happy at her tech job. But at the end of the day, she works hard for a company that sells stuff to people with extra money to spend stuff. They don't necessarily need. Meanwhile, she's got this side passion for energy. She reached the news and listens to podcast like this one. And she's realizing that there's gotta be something. More impactful out there for her. Yeah. It mostly setting from horrible anxiety about what could happen to the climate in the future. And I'm not sure how to channel that they're going to fantasize about, you know, going to work for somewhere where that actually could make a difference. I gotta say she could certainly channel that passion and fear into working more closely in this industry. But I'm not sure that's going to solve the anxiety problems. I know plenty of people who spend all their time working on decarbonisation, and are among the more anxious people that I know. Yeah. Word of worrying, Nicole being Zayed doesn't get any better necessarily. But actually, this does give me a little bit of anxiety. Because now I feel like she's gonna ask that question that I feel like I'm never equipped answer. Which is how does she find that job that she fantasizes about? Well, I asked her that and she made a request that I think we can fulfil or at least partially fulfill. Yeah. I think one thing that I would know and this might eight a question to direct to the people in venture capital that are funding. The new companies is what direction did they see clean technology or clean energy going it dignity? The mix the technology physically should be like helping numerous find technology. There's a lot of different directions at that could go in. And I I don't wanna like pick a particular technology like, you know, solar wind or carbon capture and then like choose the wrong thing, if it turns out that that is not going to be user, that's not going to be adopted. So I would I would just love to see more of a stake in the ground as to what people are going to rally behind. No what to look for anything else. You'd want us to talk about. I would love to hear about other people have made the transition or other people that are thinking about making a transition from you know, any of the other technology sectors and into clean energy. I think it would be interesting to talk about like what parts are similar the more concerned that other both might feel for questions. They might have is be where there's overlap. Yeah. I would be really interested to know what other people are thinking about trying to break into. The mystery. For Nicole and people like her out there. I'm a reporter. So I collected some of those stories, and I've spent the better part of the last decade and a half thinking about who the winners and losers are going to be and what technologies are going to win out in this energy transition. So I do have some thoughts about that. See I knew we get you to a place where you could feel comfortable. So coming up, we cobbled together our collective wisdom and offer up some clean tech career advice. I a word about our sponsor wonder capital last week..

Nicole Zayed reporter Stephen Lacey
"stephen lacey" Discussed on The Interchange

The Interchange

03:58 min | 3 years ago

"stephen lacey" Discussed on The Interchange

"Not available a decade ago to make the world more efficient, and and make the energy system of the agriculture system, cleaner, less, emitting, etc. Lower costs and increase reliability. So I'm all for the term. So we can't talk about language without talking about the buzz phrases of the day. I think cleantech used to be one of the big buzz phrases. But now it's machine learning. Artificial intelligence blockchain. Blockchain in particular is really getting interjected into a lot of energy company. Pitch decks. So what do you guys think when you see a company? Putting those words into the first slide on their pitch deck Abe blockchain is so twenty eighteen. Snow? It really is. I was gonna say the same thing that the number of pitch decks that include blockchain is down like ninety percent from twelve months ago. It is quite amazing. Isn't it the real question that comes up when I hear these questions is or when I hear these pitches is is this the hype of the day, or is there some actual genuine applications in there. I did a quick count of congruence existing portfolio of seventeen companies nine of them actually, incorporate some machine learning artificial intelligence neural net work within the overall company. Some of those have a as a primary piece of their puzzle and many are using them as kind of an ancillary or support piece of the puzzle or solution. So on one hand if somebody walks in and drops blockchain AI, and it has nothing to do with the product. Then I want nothing to do with that company on the other hand, many companies are actually showing up with genuine uses of of a in particular, which is quite. Yeah. I think about a in machine learning this is sort of unfair to machine learning. But I think of them as similar to blockchain in that. They're all tools. They're all relatively new tools that we can apply to solve whole wide variety of problems. So if you want to call yourself, a company that uses a I to do X, that's great. You're using one of the Newell tools. That's available. I'm interested in what X's and where the value lies there. Why is it that is the way to do it? Do you have some unique capacity to get it done in a way that other people don't? So the next set of questions is more important to me. But, you know, frame yourself as a company that does acts and uses AI rather than an AI company, and that probably that frame may be resonates with me a little bit more. It's hard to disagree with it. Abia Cal is a managing partner at congruent. Ventures. Abe. Thanks for joining us. Thanks for having me. And now you can open up the door and yelled down the hall to shale before the yeti runs out the door. I think you're the yeti shield. Con is the senior VP of research and strategy energy impact partners. Thanks for your insights as always and lake wise, Steven great to speak with you. Yes. Indeed. Well, folks, put your money on us. Give us a rating and review on apple podcasts or wherever you get. Your shows hit us up on Twitter was tweets. What do you think about this conversation? What is new indifferent about this next wave of these see are you a startup looking for money? Are you finding challenges? Are you finding new opportunities with this whole range of new funds and limited partners share your story in? We'll probably be tweet it. And maybe we'll factor it into future discussions. You can find shale their me there. You can't find a they're a why are you not on Twitter Vic news? You can't find a there, but you can find me and shale there and the inner change show, and we will of course, catch you next week. I'm Stephen Lacey. This is the interchange conversations about the future of energy from green tech media.

Abe blockchain Abia Cal Twitter cleantech Stephen Lacey Newell senior VP of research Steven managing partner ninety percent twelve months one hand
"stephen lacey" Discussed on The Energy Gang

The Energy Gang

03:57 min | 3 years ago

"stephen lacey" Discussed on The Energy Gang

"So you can get things like thermostats, by the way, we've also invested in echo be which Amazon invested in as well, which is a smart thermostat manufacturer. So you know, I think that their desire for dominance over the smart home will drive them into a desire for dominance over the smart homes energy consumption. So that brings us to a bigger question about Howard defining dominance or success dominance for an Amazon and Google is very different than dominance for a shell or total which is very different for dominance for Ford or an Uber. So when we actually start talking about competing these competitors head to head, and we try to pick a winner. What is winning actually mean? Right. You know, I guess we don't know how. This is going to go in the long term. Do we do we think that any of these new players are going to try to be the nouveau utility in full force? Meaning they wanna they're gonna wanna be vertically integrated from generation through the customer. I don't know. I mean, like I said with oil and gas there's some evidence that they may. But I don't think it has to go that far in order for there to be a really interesting and dynamic competition over the next decade or two if you think about the electrical sector in the US, we went through this wave of on bundling in the nineties when we started deregulating. We we open the markets up to retail competition, we opened up the generation side to competition, and we stopped, you know, with the Enron tobacco sort of put everything on halt. So we're partway through that transformation. And that was just opening up parts of the market to competition within this sector, largely you could make a case that even if these new entrance have no desire to own the lines. Wires ultimately own that transmission distribution infrastructure, even if they don't do that, this still would could be a big process of unbundling at the retail level, and at the generation level, especially as we get to a world where both retail and generation or sort of have to be operated in concert because we have all these intermittent resources that have to be managed flexibly and demand is a big part of that. Which is all to say that you know, I think there may not be a single winner here. It may not be that Amazon takes over all of electrobi- someday. But it doesn't have to go that far in order for it to be a very big storyline in the electrobi- market for a long time. That's absolutely, right. And we're trying to contextualized this emerging competition in an entertaining way. But I want to provide a caveat upfront. We certainly don't think this zero sum game. So each of these competitors is going to dominate in different ways. And that's what we're here to unpack. But ultimately, we have to pick some kind. Winner. So we are going to emerge with our choices for who's going to dominate in an an increasingly electrified future before we move into that shield. You wanna provide any disclosures given that you are in venture capital, you're working with some of the companies that we're gonna be talking about. Sure, I mean, that's one area of disclosure that I should offer. Which is that some of the companies already mentioned energy impact partners is an investor in. That's true of Arcadia power. It's true EKO be. It's probably true few more that we're going to mention I think the other disclosure that I should offer is so energy impact partners were venture capital fund. That is backed primarily by utilities, fourteen utility partners. We work really closely with them. So I'm predisposed toward understanding the strengths of utilities, and where they can play so take that into account as I give you my my choice of winter, no disclosures here, folks. Just pure unadulterated grudge match commentary from. Stephen Lacey coming up the bell rings in the competitors. Enter their corners of the ring. I are.

Amazon electrobi US Ford Howard Google Stephen Lacey
"stephen lacey" Discussed on The Interchange

The Interchange

03:46 min | 3 years ago

"stephen lacey" Discussed on The Interchange

"And they have a amazing natural resources to apply. But I'm really proud of the way they've developed an absolutely comprehensive map for their decarbonisation. If you take California California's now, the fifth largest economy in the world. So it's a real. It's this big. It's bigger than almost all countries. It's bigger than a hundred eighty countries it happens to be doing well economically. So they've decarbonised rapidly. Without crushing the economy. Quite the contrary they've disproved that fake idea. It's always been a fake idea that you had to choose between a clean environment and a strong economy. They've done a great job. Sector-by-sector one of the best building codes in the world's very strong transportation, fuel efficiency standards, really aggressive decarbonisation of the good and they've beat everyone of their targets at a much lower cost. And by the way, they're grid is getting more reliable as they decarbonised not less. They have a carbon cap which mops up a lot of the other sectors where they failed is the growing private car oil consumption. They've got good standards, but they haven't come up with really sound strategies to reduce single occupant vehicle use. But what California's done is is quite incredible, California. Norway. Our libertarian and conservative listeners are going to think we're socialists how hey last time. I checked both countries had really vigorous free market economies. Amongst the best in the world. Okay. Last question, which is what's the most undervalued policy? Then what's a policy that has a huge impact relative to the amount of attention that it gets building codes. Ooh. They are so exciting. When when you build a crappy building first of all, they're really hard to retrofit, if you don't insulate the ducks and the walls and the ceiling because you've got to just tear the whole billing part to fix it. So if you build a crappy building, you are condemning the homeowner to a lifetime of high energy costs maybe one hundred years, maybe more than one hundred years of wasted money. Conversely, if you build a building, well, you've created one hundred year asset and the difference is a strong standard, a dynamic, strong standards. But also the guys that walk around with clipboards checking to make sure you insulated ducts you, and you filled in the cracks and things like that. So about half of the buildings. The willed will have in twenty-fifty have yet to be built. We'd better get him. Right. How Harvey is the CEO of energy innovation? He is the lead author in a new book called designing climate solutions. How thanks so much for joining us delighted and thanks for the opportunity so shale I'll trade you some. Small modular new clear and flow batteries for your centralized Peavy and lithium ion batteries, no, the only item on the trading block for me is my augmented reality pick, which I immediately regretted once I made it. Well, I plan to make up some of the regrets that I have in this decarbonisation draft. And we're going to do a new one, and maybe I will consult with how when I make my next round picks shale con is the senior VP of research and strategy energy impact partners. He's my co host. Thanks for listening to this show. Hit us up on Twitter shale is there. I'm there the interchange show is there you can find how there as well. And let us know your thoughts about the policy solutions. You think are best how this plays into national politics and give tells book read as well we'll link to it in the show notes which show on. I'm Stephen Lacey. This is the interchange conversations on the future of energy from green tech media produced by postscript audio..

California California Peavy Norway Harvey Twitter Stephen Lacey twenty-fifty senior VP of research CEO one hundred years one hundred year
"stephen lacey" Discussed on The Energy Gang

The Energy Gang

02:20 min | 3 years ago

"stephen lacey" Discussed on The Energy Gang

"The the the the headline is her strategy is to stand out by nerd ing out and one of the quotes was from a new hampshire rally where she says you want me to get this crowd up on net metering do i have any net metering walks out there i'm a big believer in net metering i just i just thought that was that was so great because you know not a lot of politicians taking the limelight today talk in great detail about wonky up policy ideas and the fact that she's out there attempting to run her campaign on these wonky or issues in around energy and climate in particular is quite refreshing so we'll see if that works on the campaign stump in whether other politicians follow her lead but i suspect that climate and energy in the details of energy policy will emerge more throughout the next two years of campaigning jeez two years of campaigning i love these issues but i don't think i can listen to them the campaign context for two years guys it's less than two years what is it how many how long is it i just can't keep track any more it's a lifetime i was still writing twenty eighteen until like two days ago well that's it folks this is our last episode for january of twenty nineteen what a month it's been what a year we have a head of us if you like this show give us a rating and review on apple podcasts the podcast app of your choice we are posting this on the thirty first so technically you have one day to give us a creative review and we will choose the best review on apple podcast and give that person a free subscription to g._t._m. squared one lucky listener we'll get that award and that is a you got a lot there in that package for two hundred and forty nine dollars value so go go give us a rating in review also follow us on social media with the best place to get us is twitter you can get katherine jigger me and the energy gang there and we do interact with people a lot and we get your feedback and try to incorporate it into the show so thanks for that as well with catherine hazelton jigger shah i'm stephen lacey this is the energy gang a production of green tech media and postscript audio we will catch you next week.

apple twitter catherine hazelton jigger shah stephen lacey katherine two years forty nine dollars two days one day
"stephen lacey" Discussed on The Interchange

The Interchange

03:57 min | 3 years ago

"stephen lacey" Discussed on The Interchange

"So you can get things like smart thermostats, by the way, we've also invested in echo bay which Amazon invested in as well, which is a smart thermostat manufacturer. So you know, I think that their desire for dominance over the smart home will drive them into a desire for dominance over the smart homes energy consumption. So that brings us to a bigger question about Howard defining dominance or success dominance for an Amazon and Google is very different than dominance for a shell or a towel, which is very different for dominance for a Ford or an Uber. So when we actually start talking about competing these competitors head to head, and we try to pick a winner. What is winning actually mean? Right. You know, we don't know how. This is going to go in the long term. Do we do we think that any of these new players are going to try to be the nouveau utility in full force, meaning they want they're going to want to be vertically integrated from generation through the customer. I don't know. I mean, like I said with oil and gas there's some evidence that they may. But I don't think it has to go that far in order for there to be a really interesting dynamic competition over the next decade or two if you think about the electricity sector in the US, we went through this wave of on bundling in the ninety s when we started deregulating. We we open the markets up to retail competition, we opened up the generation side to competition, and we stopped, you know, with the Enron debacle sort of put everything on halt. So we're partway through that transformation. And that was just opening up parts of the market to competition within this sector, largely you could make a case that even if these new entrance have no desire to own the lines. Wires ultimately own that transmission distribution infrastructure, even if they don't do that, this still would could be a big process of on bundling at the retail level, and at the generation level, especially as we get to a world where both retail and generation or sort of have to be operated in concert because we have all these intermittent resources that have to be managed flexibly and demand is a big part of that. Which is all to say that you know, I think there may not be a single winner here. It may not be that Amazon takes over all of electricity someday. But it doesn't have to go that far in order for it to be like a very big storyline in the electricity market for a long time. That's absolutely, right. And we're trying to contextualized this emerging competition in an entertaining way. But I want to provide a caveat upfront. We certainly don't think this is a zero-sum game. So each of these competitors is going to dominate in different ways. And that's what we're here to unpack. But ultimately, we have to pick some kind of. Winner. So we are going to emerge with our choices for who's gonna dominate in an an increasingly electrified future before we move into that shield. You wanna provide any disclosures given that you are in venture capital, you're working with probably some of the companies that we're going to be talking about. Sure, I mean, that's one area of disclosure that I should offer. Which is that some of the companies we've already mentioned energy impact partners is an investor in. That's true of Arcadia power. It's drew e be it's probably true of a few more that we're going to mention I think the other disclosure that I should offer is so energy impact partners were venture capital fund. That is backed primarily by utilities, we have fourteen utility partners. We work really closely with them. So I'm predisposed toward understanding the strengths of utilities, and where they can play so take that into account as I give you my my choice of winter, no disclosures here, folks. Just pure unadulterated grudge match commentary from. Stephen Lacey coming up the bell rings in the competitors. Enter their corners of the ring. I are you.

Amazon echo bay Enron Howard US Google Stephen Lacey
"stephen lacey" Discussed on The Interchange

The Interchange

04:10 min | 3 years ago

"stephen lacey" Discussed on The Interchange

"Tech media. I'm Stephen Lacey, a contributing editor with GTM, welcome to the show. All right. Look where a couple of weeks into the year, and we're just gonna skip right over the optimism and take a hard look at some pretty disturbing data after a period of moderation. He trapping gases are going up here in the US and around the world one scientists called CO two emissions a speeding freight train after the global numbers were released in December implying. Well. Yeah, you get the picture. So we throw these number increases around one point nine percent. Two point seven percent three point four percent, and they can feel pretty abstract like climate change it self, but we're going to do our best put some meaning to them shell con is with me for the conversation. As always he's the senior VP of research and strategy at energy impact partners. Hey shale. Hello, steven. How's it going? It is going very well. How about you? How's life over there at postscript audio? It's great, man. How's life that e IP? I know that you've been engaging in a lot more air travel these days than I saw in the numbers in the emissions increases that jet fuel is up. I wonder how much you contributed to that more than I would care to admit yesterday. I did my first ever international day-trip I flew to Canada and back just yesterday, which is to say I have a lot of penance to pay on my air travel. Emissions. Well, hopefully, some of the investments you guys are making in cleantech companies pay off pretty big. So you can make up for those emissions. I probably need to do more than that. But I appreciate the thought. Well, we've got a guest joining us this week. He is one of my favorite reporters covering as he appropriately calls it the apocalypse beat. It's New York Times. Reporter Brad Plumer. He has been writing about the emissions picture among many, energy and environment. Topics, and he joins us from the New York Times offices in DC. Rod welcome thanks for having me on the apocalypse beat. You mentioned that in your Twitter profile. I always get a chuckle about that is that now a vertical at the New York Times. No, I think we tried to do the ever allusive mix of doom and gloom and optimism. So we try to mix it up. You guys have really stacked up your climate and energy reporting team in the last year or two I know the times has gone through a number of interruptions with its, you know, green coverage, and then it's climate coverage. How are things going with that? I think it's going really, well, I mean one of the advantages of having so many people I think I should probably know this off the top of my head. But I think we have about eight reporters, and we have some graphics folks is that we can just cover a lot of ground. So today, we have reporting on the shutdown and what that's doing to diff. Federal agencies, but also send reporter tick Kazahkstan to look at how climate change is shrinking glaciers, and what that means for the millions of people who rely for water. So having a big team really just lets you spread out a little bit. Which is which is really nice. Yeah. Been super impressed with the coverage. It is phenomenal. And a lot of the multimedia coverage is particularly compelling, but you know, it can be depressing to if you read the pages of the times and any other publication covering the environment. We are faced with daily reminders that the world is way off the most moderate goals set out in negotiations among countries and shockingly far away from targets that scientists say we need to hit. I told you we were skipping over the hopeful rhetoric this week. So over recent weeks, we've seen preliminary numbers come out that remind us of the reality once again in two thousand eighteen global emissions rose by two point seven percent and US emissions rose by. Three point four percent. According to an early tally from the rhodium group. So what does this mean we're going to provide some context of the emissions reversal? And then see where we need to make up the most ground. We're also going to touch on the Trump. So she'll can you walk kind of walk through what the rhodium group tallied for the US in twenty eighteen like what's going on?.

"stephen lacey" Discussed on The Interchange

The Interchange

04:19 min | 3 years ago

"stephen lacey" Discussed on The Interchange

"Elizabeth what does this tell us about conservative voters in what they care about? Well, you know, I think that polls for a longtime have shown that voters by wide margins support solar they support wind. Recently, when I was reporting this story about conservatives in clean energy, Republican pollsters were saying that even voters who identified as very conservative support solar. They support win. They oppose putting a moratorium on on new wind energy. So I think we're we're seeing the voters, you know, maintain their support voters as a whole or maintaining their support for solar and wind and even voters you might not think would support those energy sources are actually coming around as well. What what we're seeing in the way the politicians are behaving and the way people are responding to these polls is that clean energy is increasingly it's it's it's like mom and apple pie. What's remarkable about? This story is how unremarkable it is. Bob Steinberg is simply following the polls. He's figuring out what voters want. He sees the local economic. Element and then sticks to a position based on that that feels like pretty standard politics. Yeah. And I think he would also add to that. He kinda crunch the numbers. He tried to understand the issue. And he's he himself has had an evolution on the topic of wind energy just because of his own understanding and knowledge of the issue. So you've been focused on these issues in North Carolina for some time. How have you seen the politics of clean energy evolve? Yeah, I think that. As as renewables have have taken hold in proven that they can that the lights won't go out in the they can provide electricity just as well. Or better than you know, the big coal plant. They have become their own kind of political force in bent business force in the in the legislature gaining power. You know, when when I first started there was this. You know, always people say, well, it's always a false choice. This idea that you have to choose between a good environment and a good economy, clean environment and a good economy. But so now, I think increasingly with renewable energy people don't feel like they have to make that choice. Right. You can have clean energy, and you can have good jobs. And and so it's it's pretty remarkable evolution in that way. Well, I know you have your hands full over there as lawmakers go back into session. It sounds like there. There's a ton to cover both positive movement and political fights related to renewables. Whatever happens, though, I know you'll at least have Bob bag of peanuts to give you sustenance while you cover it all exactly, you know, they the he's now trying to figure out where his new office will be since he's switching from the house to the Senate. So he's not quite sure what the setup will be. But I'm sure they'll be room for the peanuts. Bob. Thanks for chatting with me. Next time. I'm down in Raleigh. I'll stop in for my bag of snacks and a good long conversation. You're absolutely right. Well, I certainly appreciate you taking the time to to reach out to me and giving me the opportunity to share with you a little bit about what is happened along the way since I arrived in the legislature in January of two thousand thirteen vis-a-vis renewable energy. It's been an interesting journey, and we're just getting started. My gosh. He's always at the spot. Bet they do. Elizabeth boots is a reporter for the energy news network. We touch base with her in Raleigh, North Carolina. Read her story about Bob Steinberg's primary election link in our show notes and for plenty more indepth coverage on the clean energy transition in the southeast northeast midwest and west head on over to energy, news dot US. You're gonna find plenty of quality reporting from journalists like Elizabeth from the heart of the country. This podcast was produced by green TEK, nedia and postscript audio the music was from Chad crouch. I'm Stephen Lacey. Thanks for listening.

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"stephen lacey" Discussed on The Energy Gang

The Energy Gang

01:40 min | 3 years ago

"stephen lacey" Discussed on The Energy Gang

"It's something that has been discussed further last few years in cleantech. But now has. Found its way into broader discussions of how to fund companies generally and more startups are choosing not to take traditional venture capital. So we're gonna do an episode here on the energy gang about funding opportunities. We've yet to figure out exactly how we're going to structure that episode. But if you have some ideas, and you wanna you have questions about, you know, how to raise money or what the best business model is or just general trends in finance and venture capital hit us up on Twitter, and we'd be happy to answer some of your questions. So that's that's what we've been thinking about. And we appreciate your feedback on some of this stuff. And we're going to have some really cool episodes on those topics that hopefully help many of you out in twenty nineteen that sounds awesome. I feel like I'm gonna learn a lot from those. Well, you better 'cause you're going to be teaching a lot. Okay. That's the end of the show, folks. Remember to go over to apple podcasts and rate and review us give us a creative review for your chance to win a free one year membership to GTM's squared at the end of the month. We're gonna come together and talk about our favorite entries on apple podcasts. And we'll hook that person up with a year subscription GTM's square. Thanks for listening. Hit us up on Twitter with anything else. You want us to discuss we will catch you next week with Catherine Hamilton and jigger Shaw. I'm Stephen Lacey. This is the energy gang produced by green tech media and postscript audio. We will catch you next week.

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"stephen lacey" Discussed on The Energy Gang

The Energy Gang

04:09 min | 3 years ago

"stephen lacey" Discussed on The Energy Gang

"I'm Stephen Lacey, contributing editor at GTM, welcome. We are about to witness one of the most contentious and consequential bankruptcies in the history of energy PG genie. California's biggest utility is reeling from wildfire costs, and it is now headed to the courts where it will likely be dismantled will it crush California's goals to clean up the electric grid or will lawmakers step in with a political fix of some kind that the risk of angering a lot of people whose lives have been devastated by wildfires. The stakes could not be higher. We're going to tackle the big questions raised by PGA spiral. Then why are hundreds of liberal green groups shutting down every technology except wind and solar as part of the green new deal. We'll discuss a letter that has raised a lot of criticism and risks fighting among allies, even before a real plan is considered in congress. Then. I'm sorry to say it folks, the Russians have likely already hacked your Email. We're going to have a rundown of a terrifying story on the Wall Street Journal of how the Russians infiltrated dozens of utilities allowing them to hide out inside the computer systems controlling the grid. Who knows maybe Russian intelligence is listening to us right now, Catherine Hamilton is the chair of thirty eight nor solutions a public policy firm in Washington DC. Hey, katherine. Hey, how are you all doing good? So if the Russians were listening to us, what would you want to tell them? Step away from the microphone. Secret Shah is back on the east coast just outside DC. He is the president of the investment firm generate capital. Hello jigger. Hey, how you doing good? What would you want to tell the Russians if they're listening in you know, I watched a YouTube video of a bunch of teenagers in Saint Saint Petersburg, having a fireworks fight. So I would say do more of that. That sounds pretty cool. Our Russian listeners hate us are like five Russian listeners are completely offended at this point. Well, if the the Russian intelligence agency is listening guys feel free to send some Twitter bots encouraging people to rate and review the show on EPO podcasts. And of course, as I mentioned at the top of the show, they can get a free squared membership. Well, the fact that Russia's hacking of the grid is not our top story tells you everything about the importance of this first topic PG looming. Bankruptcy. The biggest utility in the world's fifth largest economy in the world has spiraled out of control. It faces up to thirty billion dollars in wildfire costs from the two thousand seventeen in two thousand eighteen fire seasons ten times its current market capitalization. So yeah, this is a big deal, and it's also kind of confusing because it's so wrapped up in the states climate goals and the future risks of wildfires are so damaging. So this bankruptcy proceeding has to take both those factors into consideration. Which? Complicates matters. So here's how I wanna break the conversation up. What happens to the utility now like what are the proposals? What happens to renewable energy, contracts and other programs for efficiency and EVT's? How does this impact the state's broader climate goals? Will there be a political fix because of those important goals, and then what's the technological and operational fix to prevent wildfire damage from destroying another utility? So there is an important technological element that we will get to hopefully at the end, but mostly I think a lot of people are just kind of interested in the bankruptcy proceeding itself. And what it means for such a massive utility like PG knee. And then what it means for future bankruptcy proceedings. So let's just provide a very brief recap of how Pacific Gas and electric found itself in this financial calamity, a Catharine. Can you give us a really quick overview? Yes. So this is like the ninth largest bankruptcy since the eighties. So this is a huge deal. It's. It's a big one. And there's been a long and sorted history. With PG any from the Enron days in in two thousand two thousand one where PG e and so Kelly was we're all wrapped up in that then. So there was no love loss for PGA for a long time in two thousand nine when the Recovery Act gave a cost share program to PG need to do smart meters..

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