Energy Gang Podcast

In the third and final special episode recorded live from the ACORE Finance Forum, host Ed Crooks and regular guest Amy Myers Jaffe talk to industry leaders to explore some key issues in renewable energy technology and finance.

Amy starts the episode by speaking with David Ulrey, CFO of Fervo Energy, an innovative geothermal startup. David shares insights into Fervos projects, including their initial commercial pilot in Nevada and the ambitious 100-megawatt development in Utah. They discuss the challenges and successes of pioneering next-generation geothermal energy, the potential for the technology to offer clean, reliable power across the US, and the evolving landscape of financing structures in the industry.

Ed then sits down with Mona Dajani, global co-head of Energy, Infrastructure and Hydrogen at the law firm Baker Botts. Mona provides an expert perspective on the shifting sands of energy dealmaking amidst political and economic uncertainty in the US. She highlights how companies are rapidly pivoting their strategies, shifting from green hydrogen to alternative technologies or repurposing sites for data centres, and discusses why global markets remain committed to clean energy despite changing US policy priorities.

Later, Ed and Amy speak with leaders from businesses supported by ACOREs Accelerate programme. Amy talks with Tonya Hicks, founder of Power Solutions Inc, who shares her inspiring journey as a woman entrepreneur in electrical contracting and renewable energy. Tonya stresses the importance of resilience and adaptability in the face of policy volatility and argues that the industrys momentum will continue despite political shifts.

Ed also speaks with Jennifer Rouda, CEO of 7Skyline, who discusses the unique challenges faced by tribal governments in the US pursuing renewable energy projects. Jennifer highlights the critical role of bridging finance and impact investors as federal funding becomes less predictable.

Finally, Ed and Amy wrap up with a comprehensive conversation with Ray Long, President and CEO of ACORE. Ray summarises key themes from the forum, including the industrys concerns about the abrupt potential removal of energy tax credits and the urgent need for viable alternative financing mechanisms. He underscores the economic and environmental impacts of current legislative uncertainty and outlines the future resilience strategies the clean energy industry may adopt.

This concludes our three-part series from the ACORE Finance Forum. We'll be back in two weeks, resuming regular coverage of all the latest developments and discussions shaping the energy transition.

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As the US races against China to develop the most advanced capabilities in AI, energy is critical. In this second episode from the ACORE finance forum, we speak to experts about how US energy policy, and in particular the reconciliation bill now being debated in Congress, might affect that race.

Host Ed Crooks and regular guest Amy Myers Jaffe talk first to Joseph Webster, a Senior Fellow at the think-tank the Atlantic Council. They discuss the need for increased power supplies for data centers, the US reliance on clean energy supply chains that originate in China, and the challenges facing attempts to reduce that dependence.

Ed and Amy then talk to Seth Hanlon, a Senior Fellow at the New York University Tax Law Center, and to Lesley Hunter, the Senior VP for Policy and Engagement at ACORE. They dig into the politics around the reconciliation bill currently being worked on in the Senate. Seth previously worked at the US Treasury on the implementation of the energy tax credits in the Inflation Reduction Act, and shares his perspectives on the possible effects of the new legislation that could come out of Congress. Lesley provides her insight on the prospects for persuading senators to support a more favorable outcome for the clean energy industry.

This is the second of three special episodes from the ACORE Finance Forum. We’ll be back next week with further coverage of all the essential conversations at the event.

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The Energy Gang are at The American Council on Renewable Energy (ACORE) Finance Forum in New York City, which brings together industry leaders, investors, and bankers to discuss the hottest issues in clean energy. Host Ed Crooks and regular guest Amy Myers Jaffe talk to ACORE Chief Executive and President Ray Long about the uncertainty hanging over the industry following the debate in Congress over repealing energy tax credits. He talks about the reasons why a Republican president and Congress should preserve tax breaks for low carbon technologies to advance their energy dominance agenda. 

Ed and Amy also talk to Meghan Schultz, EVP and Chief Financial Officer of Invenergy, the largest independent power producer in the US, and to Ted Brandt, CEO and Founder of Marathon Capital. They explain the impact that uncertainty over tax credits has already had on their businesses. They discuss what rising demand from data centers means for electricity prices. And they explore the potential implications if subsidies for low carbon energy are scrapped.

Finally, Ed and Amy reflect on what the proposed legislation could mean for energy competition between the US and China.

This is the first of three special episodes from the ACORE Finance Forum. We’ll be back tomorrow with further coverage of all the essential conversations at the event.

See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Legislation with massive implications for clean energy in the US has been making progress in Congress. The Republican party’s “big beautiful bill”, introducing sweeping changes to taxes and government spending, would phase out most of the tax credits for low-carbon energy that were created, expanded or extended in the Inflation Reduction Act (IRA) of 2022.

To unpack the proposals and examine what they might mean for the US and the world, host Ed Crooks is joined by some of the Energy Gang’s top policy wonks:

• Amy Myers-Jaffe, Director of NYU’s Energy, Climate Justice, and Sustainability Lab
• Robbie Orvis, Senior Director for Modelling and Analysis at the thinktank Energy Innovation
• Ray Long, President and Chief Executive of the American Council on Renewable Energy 

They discuss whether the phaseout of tax credits for wind, solar and storage will deter the development of renewable energy. The credits have created a whole industry to support investment in new renewables projects. What happens if those credits go away?

The group also dig into the crucial details of the proposals, including changes to the transferability of tax credits, and more stringent provisions on “foreign entities of concern” or FEOCs. Those rules could affect the majority of clean energy projects in the US. 

As of Tuesday 20th May, the game is not over. Some Republicans in the House and the Senate senators think the proposals don't fit with the administration’s bigger goals, and have been fighting to save at least some of the credits.

The gang set out the various options for how the negotiations over the bill could play out, and assess the potential damage.

And they ask the question: could clean energy in the US actually be better off without support from tax credits?

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It’s the most talked-about academic paper this year in the world of energy. Rethinking Load Growth, co-authored by Tyler Norris of Duke University has caused a stir in energy circles because it offers a new perspective on the hottest issue of the moment: how to provide power for new data centers and other large consumers. With new sources of electricity demand growing rapidly – from data centers for AI to battery factories to EV charging networks – grid planners are scrambling to understand how to integrate large new loads without breaking the system or budgets. 

That is the question for Rethinking Load Growth, and it delivers a startling insight: The US grid could absorb 98 gigawatts of new load, IF those loads can be sufficiently flexible. They would need to be curtailed for just 0.5% of the year, which is about 42 hours in total – not all in one go, but in blocks averaging a couple of hours at a time.

That kind of load flexibility could unlock faster, cheaper grid expansion, with big implications for investors, policymakers, and companies racing to develop new data centers and other facilities.

Tyler joins the show with host Ed Crooks and regular guest Amy Myers-Jaffe to discuss his research. They debate the questions:

• Why is his paper is causing so much interest in energy circles, and beyond
• What real-world adoption of flexible load looks like for data centers
• Whether virtual power plants (VPPs) are the missing piece
• And how governments and regulators could make or break this opportunity

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