Chrislynn Energy’s Post

Huge news for #ERCOT power supply as the initial list of reliable, dispatchable power plants are approved for government-backed loans to build in Texas. We'll see who actually goes through with the program and gets steel in the ground, but it's a welcomed site to see. Massive federal subsidies for renewables have crowded out investment in other forms of power generation. Last year, Texas took a big step in an effort to level the playing field. https://lnkd.in/gjQXKsab

Pacific Gas and Electric Company secures a $15 billion loan offer for grid upgrades and clean energy projects! ⚡🌍 The Biden administration’s conditional commitment to fund PG&E’s infrastructure projects marks the largest deal yet from the Department of Energy’s Loan Programs Office. This financing will focus on upgrading California’s grid while reducing costs and supporting clean energy goals. Key Highlights: 💧 Hydropower Upgrades: Enhancing PG&E’s network of hydroelectric dams to increase capacity. 🔋 Battery Storage + Transmission: Building new batteries and upgrading transmission to improve grid reliability. 🌐 Virtual Power Plants: Leveraging battery networks and energy management systems to meet local energy needs. 💰 Lower Utility Bills: The loan is expected to save PG&E customers close to $1 billion over its lifespan. As PG&E works to modernize its grid to meet growing demand and net-zero goals, this financing represents a critical step toward improving reliability, cutting emissions, and addressing affordability in California. Check out the full article from Bloomberg: https://lnkd.in/gNgcnPUY #CleanEnergy #GridUpgrades #EnergyTransition #PG&E #DOE #BatteryStorage #RenewableEnergy #PeakDemand

The US Department of Energy (DOE) Loan Programs Office (LPO) has made a conditional commitment for a loan to utility Arizona Public Service (APS), the first part of which would go towards a 600MWh BESS. #energystorage

Biden Administration Announces $45 Million to Fund Loans for Energy Efficiency Programs. The U.S. Energy Department on June 6 announced $45 million from the Energy Efficiency Revolving Loan Fund Capitalization Grant, or RLF, program to five states and the District of Columbia. The program, supported by the 2021 Infrastructure Investment and Jobs Act, offers funds that allow states and territories to make available loans and subsidies to...… The post Biden Administration Announces $45 Million to Fund Loans for Energy Efficiency Programs appeared first on EnerKnol. https://lnkd.in/dqweU5si

Let's say that PG&E takes this 15-billion-dollar loan (at low interest rates) and uses that money to build out it's CA grid infrastructure to supply the electricity demand that is expected to increase from green energy use. All that 15 billion goes into capital projects. How is it then that PG&E, a company that has clearly demonstrated that its maintenance of existing assets is woefully inadequate, can be counted on to manage any new assets coming out of this 15-billion-dollar loan? Here is PG&E's business plan: Install infrastructure over the past 124 years, then leave it to fail in place by failing to maintain it. Instead, reward top executives with lavish bonuses for thinking up this clever business plan. The poorly maintained assets fail (ticking time bombs), causing billions more in property damage and loss of human life. That property loss includes PG&E infrastructure that PG&E cannot afford to replace. However, PG&E, now teetering on the edge of bankruptcy, is allowed to claw back those losses through a series of rate increases rubber-stamped by the CPUC (CA Public Utilities Commission), tasked to approve or deny any and all rate increases petitioned from PG&E. PG&E customers get to pay for all this and more.

Energy utility "death by pilot" refers to an energy company becoming stagnant or failing to innovate due to excessively relying on small-scale pilot projects to test new technologies, often never fully implementing them on a larger scale, effectively hindering their ability to adapt and grow in the market; essentially, getting stuck in a cycle of testing without taking action. 

PG&E has received a historic $15 billion loan guarantee from the U.S. Energy Department, the largest commitment ever from the Loan Programs Office. This funding will help PG&E upgrade its electrical grid and invest in climate resiliency, including hydroelectric power, batteries, and power lines. With increasing electricity demand from electric vehicles, data centers, and the push to phase out fossil fuels, PG&E is focused on enhancing grid reliability and addressing climate-related challenges, including wildfire risks. The loan is expected to help PG&E reduce costs for consumers while improving infrastructure. While PG&E has faced significant rate increases and past financial struggles, including bankruptcy in 2019, this loan could save customers up to $1 billion by lowering borrowing costs. Additionally, PG&E plans to expand clean energy initiatives like solar panels, home batteries, and EV integration.🌱 #CleanEnergy #GridResiliency #ClimateAction #SustainableEnergy #PG&E #EnergyTransition #Innovation #ElectricVehicles https://lnkd.in/dZeC-zyP

Biden Administration Agrees to Record $15 Billion Loan to PG&E Energy Department loan would finance efforts to upgrade power grid and reduce emissions; future administrations can’t claw back the money The Biden administration will provide a record $15 billion low-interest loan commitment to California utility company PG&E (PCG) to support hundreds of projects aimed at fighting the effects of climate change and improving the electrical grid. The loan by the Energy Department’s Loan Programs Office is slated to fund projects that refurbish PG&E’s hydroelectric infrastructure and upgrade power lines to support renewable-energy projects, data centers and electric vehicles. The loan office had planned to provide a $30 billion loan to PG&E a few weeks ago, according to people familiar with the matter. The amount was cut in half, in part because of PG&E concerns about the hefty upfront payments such a large loan would have required. https://lnkd.in/gSrT8hNg

The DOE announced a conditional loan guarantee of $15 billion to PG&E to diversify California’s energy sources and improve grid resilience.

For decades, electric utility companies have been the last to deploy cutting edge American technology. Using the Energy Infrastructure Reinvestment program, we are moving away from “death by pilot” to utilities returning to their role of deploying cutting edge American technology to meet economic growth while saving ratepayers billions of dollars. “PG&E plans to use the financing for several infrastructure projects that will allow the utility to meet its net-zero emissions goals while aiming to keep up with demand growth, the company said. Potential projects include capacity increases to its network of hydroelectric dams, new batteries coupled with transmission upgrades and tapping into “virtual power plants,” networks of batteries and energy management systems that can help meet local demand needs. “This loan is going to reduce greenhouse gases. This loan is going to increase the useful life of energy infrastructure in California,” said Chris Creed, chief investment officer of the Energy department’s Loan Programs Office, in an interview. “This is going to replace needed pieces of equipment, and all the while, do so while saving rate payers money.”