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In the first half of 2024, the U.S. added 20.2 GW of new electricity generation capacity, with solar power leading the way at 12 GW, accounting for 59% of the total additions, according to the U.S. Energy Information Administration (EIA). Florida and Texas were significant contributors, driving 38% of the new solar capacity. Energy storage also saw substantial growth, with 4.2 GW deployed, primarily in California, Texas, Arizona, and Nevada. Fossil fuel retirements far exceeded new fossil fuel installations, with 5.1 GW of capacity retired, mostly from methane and coal, while only 0.4 GW of new gas capacity was added. The EIA forecasts that by the end of 2024, the U.S. could see a record 37 GW of new utility-scale solar and 15 GW of new energy storage deployed. However, this growth could be hindered by potential new tariffs on solar panels, which might delay or cancel projects, as was seen in 2022. Despite these risks, if the current pace is maintained, 2024 could more than double the previous year’s solar capacity record. https://lnkd.in/eJNhxSNG #EnergyTransition #UnitedStates #OdinGlobal

Google has made a tax equity investment in Swift Current Energy's 800MW solar PV project in Illinois, known as the Double Black Diamond Solar project. This financing leverages provisions from the Inflation Reduction Act, including incentives for energy communities and domestic content. The project, currently under construction, is expected to be operational by early 2025, with McCarthy Building Companies, Inc. as the EPC contractor, First Solar providing the panels, and Nextracker Inc. supplying solar trackers. This investment reflects a growing trend of corporate involvement in renewable energy through tax equity financing. For example, Walmart recently partnered with Pivot Energy on a 72MW community solar portfolio. Additionally, Google has entered a 1.5GW solar PV energy agreement with Energix North America , with potential expansion, further solidifying its commitment to renewable energy projects. https://lnkd.in/e_ZWmEUq #Google #TaxEquity #OdinGlobal

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Ramboll has acquired K2 Management, expanding its global wind energy consultancy team to over 900 experts across 20 countries, including new locations in Vietnam, Thailand, Taiwan, and Portugal. This acquisition supports Ramboll's goal of growing its wind division to over 1,000 experts by 2025, driven by rising demand in the global wind market. By integrating K2 Management's project development and strategic advisory expertise with Ramboll's engineering and design capabilities, the company aims to become a leading global provider of wind energy services. This expansion strengthens Ramboll's role in the green energy transition, allowing it to better support clients at all stages of wind energy projects worldwide. https://lnkd.in/eRsqWyWP #Ramboll #K2Management #OdinGlobal

Sveaskog, Sweden's state forest owner, has partnered with solar developer Alight to develop 2GW of solar power over the next five years, focusing on regions with significant electricity deficits in central and southern Sweden. The first two projects will cover 150 hectares in the central region and 70 hectares in the south. Sveaskog will co-invest up to 49% in these projects, leveraging its vast land holdings to contribute to the country’s renewable energy expansion. The partnership aims to address Sweden’s increasing demand for renewable electricity, with Sveaskog and Alight emphasizing the importance of sustainable and balanced development. If a small portion of Sveaskog’s land is converted to solar parks, it could more than double Sweden's current solar capacity. https://lnkd.in/e6aZwfh6 #Sweden #EnergyTransition #OdinGlobal

The U.S. Department of Energy (DOE) has granted $147 million to support Form Energy's construction of an 85 MW/8500 MWh iron-air battery energy storage system (BESS) in Lincoln, Maine. This project is part of the Power Up New England initiative, which received $389 million in federal funding to enhance energy infrastructure in the region. The iron-air battery system, located at a former paper mill site, will store wind and solar energy, providing power for up to 85,000 homes. Unlike lithium-ion batteries, the iron-air technology is safer and more cost-effective, using abundant materials like iron and oxygen. This battery project, one of the largest of its kind globally, will help address grid congestion in New England and improve resilience against extreme weather events, which have previously left many Mainers without power. While iron-air batteries are still emerging technology, they are gaining traction worldwide, with countries like the U.S., Japan, and China investing in their development. Form Energy is expanding its footprint in the U.S., with similar projects underway in Georgia and Minnesota. https://lnkd.in/eeeR3RXm #FormEnergy #EnergyStorage #OdinGlobal

LS Power has agreed to acquire Algonquin Power & Utilities Corp. renewable energy business, which includes 3GW of operating wind and solar assets spread across the US and Canada. This portfolio consists of 44 operating assets, with 2,700MW located in the US and 300MW in Canada. Additionally, the acquisition includes an 8GW development pipeline that features wind, solar, battery energy storage, and renewable natural gas projects. This strategic purchase enhances LS Power's existing renewable energy portfolio, which already includes over 19,000MW of renewable, energy storage, and clean energy projects. The acquisition aligns with LS Power's goal to address rising electricity demand and advance the energy transition. The deal is expected to close between late 2024 and early 2025, pending regulatory approvals. LS Power's CEO, Paul Segal, highlighted the importance of this acquisition in expanding the company's renewable energy capabilities. The transaction also supports LS Power's broader energy transition initiatives, complementing its existing platforms like REV Renewables and Rise Light & Power. https://lnkd.in/eHZUun-B #LSPower #Acquisition #OdinGlobal

In 2024, while battery and cell manufacturers faced challenges due to declining revenues from slower electric vehicle (EV) sales, the stationary energy storage market surged by 61%, driven by a 43% drop in turnkey system prices compared to 2023. BloombergNEF (BNEF) reports that stationary storage surpassed consumer electronics as the second-largest application for lithium-ion batteries. Although EVs still dominate battery demand, the gap between EV and stationary battery demand has narrowed significantly. This growth is fueled by policies such as China's mandates for storage with solar and wind, the U.S. Inflation Reduction Act, and initiatives across Europe, Japan, and Latin America. BNEF also projects that by 2030, cheaper and safer lithium iron phosphate (LFP) batteries will dominate, with nickel manganese cobalt (NMC) batteries holding just a 1% market share. https://lnkd.in/d7pJEP8R #EnergyStorage #EnergyTransition #OdinGlobal

ChargePoint has introduced Omni Port, a universal EV charging connector compatible with all major electric vehicles, including Tesla and non-Tesla models. This solution eliminates the need for adapters or dedicated parking spaces for different charging types. Omni Port is now a standard feature in ChargePoint products and comes at no additional cost. The charging station adapts to each EV by identifying the vehicle's make and model through the ChargePoint app, or users can pay with a credit card. The port supports both AC and DC charging and is compatible with 800-volt vehicle architecture for sustained high-speed charging. With over 5.5 million EVs in North America, Omni Port offers a unified solution for J1772 and CCS1 connectors, ensuring widespread compatibility. ChargePoint plans to ship Omni Port by the end of 2024, with retrofitting available for existing models at a nominal cost. https://lnkd.in/epAYc3d5 https://lnkd.in/ebxqYSc9 #ElectricVehicles #ChargePoint #OdinGlobal