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LFP battery increasingly applied to electric buses, energy storage systems

LFP (lithium ferro-phosphate) batteries are gaining momentum in EV applications, especially for electric buses and energy storage systems, with Foxconn's electric buses also adopting such batteries, according to supply chain sources......»»

Category: topSource: digitimesMay 23rd, 2022

Transcript: John Doerr

   The transcript from this week’s, MiB: John Doerr, Kleiner Perkins, is below. You can stream and download our full conversation, including the podcast extras on iTunes, Spotify, Stitcher, Google, Bloomberg, and Acast. All of our earlier podcasts on your favorite pod hosts can be found here. ~~~ BARRY RITHOLTZ, HOST, MASTERS IN BUSINESS: This… Read More The post Transcript: John Doerr appeared first on The Big Picture.    The transcript from this week’s, MiB: John Doerr, Kleiner Perkins, is below. You can stream and download our full conversation, including the podcast extras on iTunes, Spotify, Stitcher, Google, Bloomberg, and Acast. All of our earlier podcasts on your favorite pod hosts can be found here. ~~~ BARRY RITHOLTZ, HOST, MASTERS IN BUSINESS: This week on the podcast, I have, yes, an extra special guest, John Doerr of the famed venture capital firm Kleiner Perkins is here to discuss all things venture capital and climate related. He has a new book out that’s really quite interesting. We talk about everything from crypto to Tesla to beyond me, to all of the opportunities that exist in order to help moderate and reduce carbon in the atmosphere and the potential climate crisis that awaits us if we don’t change our ways. So, Doerr is a venture capitalist. He invests money in order to generate a return. These aren’t just finger-wagging-be-green-for-green sake. He describes their venture fund which they put nearly a billion dollars into it 10 years ago and now, it’s worth over three billion. That’s how successful the returns have been. He describes the climate crisis as a multitrillion dollar opportunity. Yes, we need to do something in order to make sure we leave our children and grandchildren a habitable Earth. At the same time, there is a massive opportunity in everything from food to electrical grid, to transportation, on and on and on. It really is quite fascinating somebody like him sees the world from both perspectives, from the, hey, we want to make sure we have a habitable place to live but he can’t take off his VC hat and he sees just massive opportunities to do well by doing good. Really, a fascinating conversation. With no further ado, my interview with Kleiner Perkins’ John Doerr. ANNOUNCER: This is Masters in Business with Barry Ritholtz on Bloomberg Radio. RITHOLTZ: My extra special guest this week is John Doerr. He is the famed venture capitalists known for his work at Kleiner Perkins Caufield & Byers. The venture capital firm operates 32 funds. They’ve made more than 675 investments, including such early-stage funding for companies like Google, Twitter, Amazon and too many others to list. Doerr still holds a substantial stake in his initial investment in Google. His most recent book is “Speed & Scale: An Action Plan for Solving our Climate Crisis Now.” John Doerr, welcome to Bloomberg. JOHN DOERR, CHAIRMAN, KLEINER PERKINS: It’s thrilled to be here with you, Barry. Thank you. RITHOLTZ: And I’m thrilled to talk to you. Let’s go back to the early parts of your career before we start to get current. You originally joined Intel because you couldn’t land a gig as a venture capitalist. Tell us a little bit about that. DOERR: I came to Silicon Valley with no job, no place to live and incidentally, no girlfriend. The lady I’ve been dating decided I was too persistent and dumped me. So, I — my real goal was to win my way back into her heart and to join with some friends to start a company. I wanted to start a company and I heard that venture capital had something to do with that. So, I cold called all the venture capitalists and some of them returned my call in the mid-70s and they looked at my experience and uniformly included that I should go get a real job. That was their advice. I remember Dick Gramley (ph) said, we just backed a small new chip company called Intel, why don’t you interview for a job there, and I did. And lo and behold, unbeknownst to me, my former girlfriend, Ann Howland, now Ann Howland Doerr, has gotten a job at Intel. I got a job there and when I arrived that first summer day, I was surprised to see her there and she was not happy to see me. So, it took the rest of the summer to put our relationship back together again. But I love Intel, it was a dynamic place. They just invented the microprocessor and I’ve seriously considered abandoning my graduate education in business as it turns out to just stay at Intel. But I returned there after graduating and worked for, I guess, four or five years helping democratize computing as to get microprocessors used in everything from traffic lights to defibrillators, to nuclear resonance magnetic imaging systems, and it was all because I wanted to be part of new rapidly growing companies. RITHOLTZ: How did you work your way from Intel to venture investing? How did you find your way to Kleiner Perkins? DOERR: I got a phone call one day from a friend who said, hey, John, I just finished interviewing for job at a venture capital firm, Kleiner Perkins Caufield & Byers. It sounded to me like a law firm. I really didn’t know them. But he said, you should go interview there because what they want to add to their team is someone younger professional with a strong technical background, a good network in Silicon Valley, and a passion for startups. I think you and they would make a great fit. So, I didn’t — they ran an ad actually in the “Wall Street Journal” for this position which I didn’t see. But I called up, I interviewed and got a job there as an entry level professional, a gofer, I did everything. I carried people’s bags. I read business plans. But there was one important condition that I had and that is I made them promise that they would back me with my friends in starting a company. I went to work there because, honestly, I wasn’t interested in venture capital. I wanted to be an early ’80s entrepreneur. And they had — they agreed to that and pointed out that they had backed other young partners at Kleiner in writing business plans. Bob Swanson had written a business plan for Genentech that led to the whole biotech industry and Jimmy Treybig had done the same thing with Tandem Computers. My current partner, Brook Byers as the young partner at Kleiner wrote the business plan for hybrid tech. So, Eugene Kleiner and Tom Perkins were unusual and I’d even say mythic or epic figures in that they had technical backgrounds. They started their own companies and they felt that was part of what their venture capital firm ought to do. RITHOLTZ: So, here’s the key question, how come you never left Kleiner Perkins? Why didn’t you launch your own startup? DOERR: Well, I did. They backed me in doing it. The first was one called Silicon Compilers. I became the full-time CEO and founder of that with a Cal Tech professor, Carver Mead. RITHOLTZ: Sure. DOERR: Then as I worked with companies like Compaq, Sun Microsystems, they were growing really rapidly, I realized I was not at all qualified to advise these entrepreneurs. So, I took another 18-month leave of absence from Kleiner to run the desktop division of Sun and almost left Kleiner permanently to do that. But Ann and I wanted to start a family and she said, you know, you’re doing this Sun thing and keeping involved in Kleiner, it’s just not going to work, we have to make some choices here. And so, I left my operating role at Sun. But never gave up an interest in starting new companies and did that again at a later time with a company called @Home. You may remember that they … RITHOLTZ: Sure. DOERR: … standardized and commercialized the cable modem to access the Internet. Before the @Home venture, access to the Internet was really very slow and cable modem swept the United States and our company was key in making that happen. RITHOLTZ: So, I like this quote from you, “If you can’t invent the future, the next best thing is to fund it.” And so, I guess that helps to explain your move from Sun over back to Kleiner Perkins. DOERR: Exactly. It was Alan Kay, the Chief Scientist at Apple, who said the best way to predict the future is to invent it and while I’ve made some inventions, they’re modest, my better fortune has been to find amazing entrepreneurs, identify them and then help fund and accelerate their success. RITHOLTZ: Quite interesting. Amazon, Netscape, Applied Materials, Citrix, Intuit, Genentech, EA Sports, Compaq, Slack, Uber, Square, Spotify, Robinhood, that is just an amazing, amazing list of startups that you guys were fairly early investors in. Any of them stand out as uniquely memorable to you? DOERR: Well, two of the standouts got to be Amazon and Google, now, Alphabet, because, what are they, they’re two of the four or five most valuable companies in the world and I think both of them have profoundly changed the way that we live, communicate, educate, inform, conduct commerce, see the world. They both — what they both have in common is exceptional founders and really strong management teams who have a sense of urgency and a focus on either large new markets or large existing markets that deserved and have benefited from disruption. So, I remember when I was first offered a position at Kleiner Perkins, I told them that I thought it was kind of unfair that they would pay me to do the job. I would pay them for the privilege of working with these amazing entrepreneurs and founders. RITHOLTZ: So, when you’re thinking about putting money into the Amazon in the mid ’90s or Google in the late ’90s, at any point in that process, are you thinking, sure, these can become $2 trillion companies soon? DOERR: Well, I had no really good idea how big they could be. So, I put the question to Jeff Bezos and his response was, well, John, I don’t know but we’re going to get big fast. At that time, I kicked up something of a firestorm by proclaiming that the Internet had been under hyped and it might be the largest legal creation of wealth in our lifetimes. But I was more clear and explicit with Larry Page when I met with him and Sergey and I asked Larry, how big Google would get. I’ll never forget this, Barry. He responded to me without missing a beat, 10 billion, and I said, just to test myself, I said, surely, you mean market capitalization, don’t you, and he said, no, John, I mean revenues. We’re just beginning in the field of search and you cannot imagine how much better it’s going to get over time. And sure enough, he was, he was more than right. RITHOLTZ: To say the very least. So, let’s talk a bit about Google. You are known for introducing to both Larry and Sergey your concept of, OKRs, objectives and key results. What was the impact of that on Google? How did they respond to your suggestion on come up with objectives and come up with ways to measure your progress? DOERR: So, for everyone in your audience, objectives and key results or OKRs is a goalsetting system that Andy Grove invented at Intel and that’s because in the semiconductor industry, I’m a refugee from the semiconductor industry, you got to get tens of thousands of people to get lines that are a millionth of a meter, one micron wide, exactly right or nothing works, the chips fail. So, you need exceptional discipline, attention to detail, focus and execution. And so, Andy came up with the system. I was so enamored of it. When I left Intel, I took it everywhere I went from nonprofits to startups to large companies. The Gates Foundation in the nearly days, for example, how — they were — I mean, they were a very large nonprofit startup and an important one for the planet. So, I took Andy Grove’s system to Larry and Sergey, the founders of Google, in the very early days and I went through it with them and at the end of it asked them, so, guys, what you think, would you use this in growing Google, and Larry was — had no comment whatsoever. But Sergey, he was more like brilliant. I’d like to tell you, Barry, that he said, we love this, we’re going to adopt it wholeheartedly. Well, the truth of the matter is what he said was, we don’t have any better way to manage this Google company. So, we’ll give it a try, which I took as a ringing endorsement because what’s happened since then to this day, every Googler, every quarter, writes down her objectives and key results and publishes them for the entire company to see and interestingly, they never leaked. So, there’s 140,000 Googlers who are doing this four times a year. They’re graded. But at the end of each quarter, they’re swept aside because they’re not used for bonuses or promotions. They serve a higher purpose and that’s a collective social contract to get everybody focused and aligned and committed in tracking their progress to stretch for almost impossible to achieve goals. And I’m telling you this story because the same system that Andy Grove invented has now spread pretty broadly through the technology and other sectors of the economy and it’s at the heart of this plan that we have called speed and scale to deal with climate crisis. RITHOLTZ: Quite interesting. I want to stick with some of the early investments that you made and ask a really broad general question, how likely is it that a company you made in early stage investment in ends up looking like the company you thought you were investing in, meaning, how often do companies iterate or pivot into something totally different from what you thought you were getting involved with? DOERR: Well, I was going to say not often if it’s totally different. But if it’s meaningfully different, that happens all the time. And that’s why in the venture capital work that we do, it’s so important to back — to find fund and build a relationship with the right people because the people and the quality of the team is going to affect how they pivot, how they adapt their business plan to changing markets, changing technologies, changing opportunities. RITHOLTZ: Very interesting. So, you mentioned Amazon and Google as just uniquely memorable startups. What about some memorable ones that you thought would work out that didn’t or I know VCs love to talk about look how silly we are, we had an opportunity to invest in X and we passed and now X is fabulously successful, what stands out in that space? DOERR: Well, the standout in that space is the bad decision we made to invest in Fisker instead of in Tesla and at that time, they had similar strategies, which was to enter the electric vehicle market with high-end luxury, pretty expensive car and then to drive the cost of that vehicle down over time. Both companies were struggling to raise money. One of them had experienced executive from the automobile industry, fundamentally a designer by the name of Henrik Fisker as its founder and CEO. The other had Elon Musk who had no automobile industry experience but was determined to reinvent every part of the automotive car doing it more as a machine to run software than a collection of subsystems procured from the automobile industry. We made the wrong call and the rest is history. RITHOLTZ: That Fisker, that first Fisker car was just a gorgeous design and at that time, Tesla was taking old Lotus convertibles and filling them with laptop batteries. Between the two, it’s pretty easy to see how the Fisker opportunity really looked more intriguing than Tesla did way back when. How typical is that for the world of venture? DOERR: It happens all the time. RITHOLTZ: All the time. DOERR: That’s what makes the job of finding funding and accelerating the success of entrepreneurs hard. RITHOLTZ: To say the very least. So, there was just a new report that came out. It said, renewable energy in the U.S. has quadrupled over the past decade. So, we’re all good, right? There’s nothing else to worry about with the climate? DOERR: I wish that was true. I came to this project, this passion back in 2006 when Al Gore’s movie, you remember “An Inconvenient Truth” appeared. RITHOLTZ: Sure. DOERR: And I took my family and friends to see it and we came back for a dinner conversation and went around the table to see what people thought. When it came turn for my 16-year-old daughter Mary Doerr, she said, I’m scared and I’m angry. She said, dad, your generation created this problem, you better fix it. And, Barry, I was speechless, I had no idea what to say. So, I set out with partners at Kleiner Perkins to understand the extent of the climate crisis, even hired Al Gore as a partner and over time, over three funds, invested a third up to a half of the funds, total about $1 billion in some 70 climate ventures, most of which failed and, in fact, it’s hard, it’s very hard to grow a climate tech or green tech venture. It’s pretty lonely in the early days of doing that. And we almost lost all of our investments but we stood by these entrepreneurs and they produced companies like Beyond Meat or Enphase or the NEST smart thermostats and today are worth some $3 billion. But that was then, this is now. I think what’s important about now is we need way greater ambition and speed to avert catastrophic, irreversible climate crisis. I mean, the evidence is all around us. We’ve got devastating hurricanes and floods and wildfires and 10 million climate refugees. The IPCC says that if we don’t reduce our carbon emissions by 2030 by 55 percent, we will see global warming overshoot by more than 2°C, nearly 4°F. And the Paris accords, which were agreed to in 2015, if we were achieving them, it would still cause us to land at around 2°C. The bad news is we’re not close to achieving any of those goals. So, the latest report from the UN said this is a code red problem and I also see all problems as opportunities. Barry, I think this is going to be the greatest opportunity, human opportunity, social opportunity, economic opportunity for the 21st century. RITHOLTZ: So, let’s talk a little bit about that opportunity. You talked in the book about cutting emissions in half by 2030 and net zero by 2050 and you referenced six main areas of attack, transportation, the electrical grid, food, protecting nature, cleaning up industry, and then removing carbon from the atmosphere. Let’s talk a little bit about each of those because they’re all quite fascinating. We were talking about Tesla, how quickly do we think that we’re going to be past internal combustion engines with a fully electrified transportation network? DOERR: Well, that’s a great question and we can — I want to put this in context. Every year, we dump 59 gigatons of carbon, greenhouse gas emissions in the atmosphere as if it’s some kind of free and open sewer. And so, the book and the research behind it has built a plan in electrifying transportation and the other five for which each of the objectives has three to five key results. These are Andy Grove Intel style, very measurable specific steps in transportation. It says that electric vehicles will achieve parity, price performance parity with combustion engines in the U.S. by 2024. It says one of two new personal vehicles purchased worldwide are electric vehicles by 2030. So, what I’m trying to say is this is a global plan. RITHOLTZ: Right. DOERR: We’ve seen some nations of the world, some states like California say they’re going to ban the sale of internal combustion vehicles. And there’s also key results for buses, for trucks, for miles driven, for airplanes and maritime and this whole plan is available for free. You can download it at the website speedandscale.com. So, it’s pragmatic, it’s ambitious, it’s almost unachievable. It’s a total of 55 key results for the world, numeric time bound, and we’ve got to get after them all at once. We can’t take turns. We’re not going to achieve all of these, Barry. It’s — but if we fall short on one, we can make ground faster in others. Now, I don’t want to intimidate people by how big — how tall an order this is. The book also includes 35 stories from entrepreneurs and policymakers and leaders and innovators, leaders of indigenous tribes that describe in their own words their struggle, their successes, their journey to change the world. One of my favorites is of a cross-country team who got together to petition their school district to go to cleaner busses. They were sick and tired of running behind diesel buses with polluted air and it shows that something that I deeply believe and that is we’re fast running out of time. And so, yes, we need individuals to take individual action to eat less meat, use photovoltaic solar and buy an electric vehicle if you can afford it. But I’ve really written this book for the leader inside of everyone, their inner leader, and that’s their ability to influence others to act as a group like this cross-country team of runners in Maryland who got their school district to adopt electric buses. What the book shows is that we can get this job done but, as I said, we’re fast running out of time. RITHOLTZ: So, let’s talk a little bit about — by the way, the bus discussions in the book are quite fascinating not just because China leapt out to a big lead and have been very aggressively replacing diesel buses with electric buses but you helped fund an entrepreneur in the U.S. that’s gone around and has done a great job getting cities to purchase electric buses. The transportation grid is clearly an issue but as you point out, that’s only six gigatons. A bigger issue is the grid, the electric grid, which produces 21 gigatons of emissions. Tell us about what we need to do to decarbonize the electrical grid. DOERR: 100%, you’re right. If we move to electric vehicles but we still use coal to generate electricity, we won’t have reduced emissions. And the biggest opportunity is to decarbonize the grid and that’s to take today’s 24 gigatons of emissions mostly from goal, also natural gas to generate electricity. Take that 24 down to three gigatons. So, the first key result, the biggest of them, is to get 50 percent of our electricity from zero emission sources globally by 2025 and get it down to 38 percent — get a 90 percent by 2035. That would save us 16.5 gigatons. Simply put, we need to move to renewable sources like wind and solar and invest in longer-term durable storage so that we have reliable energy when the wind isn’t blowing and the sun isn’t shining. RITHOLTZ: So, let’s talk about that battery technology a little bit. We’ve seen a series of incremental improvements over time but nothing has been like an order of magnitude improvement. Will we be able to get there soon enough? Do we need a Manhattan project for batteries or are all those incremental improvements compounding and we’ll get there eventually? DOERR: Much of the improvement that is needed in all of these technologies is lowering their costs. And so, batteries today are still too expensive for electric vehicles in India and in China. They’re barely affordable in the U.S. marketplace. RITHOLTZ: Right. DOERR: And so, the book tells the story of QuantumScape, I’ll disclose, a public company that I’ve invested in and served on the board of, an entrepreneur by the name of Jagdeep Singh and he is going for a quantum improvement in batteries to more than double their energy density. The energy density of a battery is how much energy you’ll get out of it for a pound of weight of a battery and it’s especially important in electric vehicles because the most expensive part of the vehicle is the battery and it’s the heaviest part and you got use energy to move the weight around. So, if you double the energy density of a battery, you can get a three or four times systems improvement in the vehicle itself. I’m not expecting, I don’t think anyone is forecasting an order of magnitude improvement. We’ve seen considerable lowering costs of batteries over time. But the QuantumScape innovation, which is an all solid-state battery, would be a genuine breakthrough. RITHOLTZ: Let’s talk a little bit about food, another key source of emissions. How can we become more efficient in growing the food affecting the menu of what we eat and reducing enough food waste to make a difference? DOERR: There’s three big things t to do about food. The first is to reduce the meat and dairies in our diet and I’m not saying cut them out entirely but to replace some of that with delicious, healthy plant-based proteins. And the book tells a story of Beyond Meat and the crusade of its founder. He struggled and mortgaged his house to lead the revolution in plant-based protein. It turns out that there’s a billion cows on the planet. The book tells you their story as well. If they were a nation, it would be the third largest country in terms of the emissions. The second big thing to do about food is to reduce food waste. Globally, 30 percent of the food that we produce is wasted and taking some straightforward measures we think that can be reduced. Our goal is to reduce it to 10 percent of the food that we produce, particularly when you consider the population will grow to 10 billion by the end of the century. Finally, we got to get more efficient with how we grow food and we can, for example, apply fertilizer much more precisely with new technologies. All in all, the food sector is a way for us to reduce nine gigatons of emissions to two gigatons by 2050 or a net gain of seven out of the 59 gigatons that we got to drive to zero. RITHOLTZ: So, we’ve spent a lot of time talking about beef and agriculture generally. But let’s talk about commercial fishing, what’s the impact of our fishing practices on the health of the oceans and its ability to absorb carbon and reflect heat? DOERR: Well, over fishing together with over drilling and over development have released huge amounts of carbon from the ocean floor and life and if we prevented the destruction of mangroves and other ocean life, we could prevent a gigaton of emissions from entering the atmosphere every year. Our plan calls to eliminate deep sea bottom trawling, which is an especially destructive practice. Bottom trawling releases one and a half gigatons of CO2 equivalent emissions. It also calls for increasing the protection of oceans to 30 percent by 2030 and 50 percent by 2050. I want to call out, this is an area of climate ambition that Walmart is staking out an important and powerful leadership position. Not only that they said they’re going to have their supply chain be carbon neutral by 2040 but they are going to preserve, protect millions of acres of land and ocean water in the effort to become the first scale regenerative company. RITHOLTZ: Really, really interesting. So, very often, the average person listening to a conversation like this thinks, well, what can I do, I’m just one person. What’s the balance of responsibility between individuals on one side and government and institutions on the other? DOERR: We need all the forces in our economy, in our society to come together and work on this. We need innovators. We need entrepreneurs. We need policymakers. We need investors. We need to hear more from impassioned youth. In 2018, Greta Thunberg was a single high school student skipping school on Fridays. A year later, in 2019, in December, she organized a million-person march in a hundred cities around the world and specifically, she made the climate crisis atop two voting issue in the nations in Europe. Barry, it is not a top voting issue in the U.S. It is not a top issue in China or even in India. So, we have work to do and that’s one of our accelerants, the ways we get all this done faster and that’s to turn movements into specific actions. We really need individuals to lead others in powerful ways. That’s, for example, employees, pushing your employers to make net-zero commitment or shareholders and investors demanding changes in the board rooms. It turns out that changing the lightbulbs and eating less meat is important but we’ve got to go further. We’ve got to change our laws or even our lawmakers in order to avert this climate crisis. RITHOLTZ: Quite fascinating. I want to talk about some of the things you’ve said in the book that apply everywhere but are especially applicable to the climate crisis. Let’s start with, quote, “It seems every dozen years we witness magical ever-exponentially larger waves of innovation.” So, let’s start first with climate, how and where are those waves of innovation coming that’ll help ameliorate the climate crisis? DOERR: Well, the innovations are happening on many fronts, the material sciences, electrochemistry, biology. The opportunity that the climate transition to a clean energy the economy represents is the largest of our lifetime. It’s a bigger mobilization than even the effort of the allies to defeat the Nazi Axis in World War II. You’ll remember then, we shut down for four years all manufacturing of automobiles and appliances and instead, created 268,000 fighter aircrafts, 20,000 battleships. It was a monumental effort dealing with an existential threat. And that same level of innovation and ambition is required to win in this climate campaign. Other areas of breakthroughs or innovations, I’m even becoming a believer that we’ll see nuclear fusion. That’s the kind of clean energy that comes from the sun, practical within a decade. Concrete and steel that’s carbon free, long duration storage, the opportunities to reimagine and reinvent how we create, share, transmit and use energy in every facet of our lives is as big an opportunity as we’ll see in our lifetime. RITHOLTZ: So, let’s stay focused on that opportunity for a minute. This isn’t a charity or a foundation that’s doing this for free. When we look around, there are actual venture investments that you’ve been making successfully. So, you past on Tesla but somebody put money into Tesla. Wind turbines, solar, Beyond Meat is now public company. You are an early investor into that. You’re looking at this as more than just, hey, we have to do this in order to make sure that we don’t have a runaway greenhouse effect and Earth turns into Venus and becomes uninhabitable. But there are also very legitimate economic opportunities here also. Expound on those a little bit. DOERR: Well, there’s no better example than Tesla which had gone from a struggling company reliant on loans, thank you, United States taxpayers, to the sought most valuable company in the world. And by some measures, Elon Musk is the most — is the richest individual in the world. He took on huge risks and he delivered for his customers and shareholders, his country and his planet. And the best of the work that Elon has done is inspire, perhaps, through fear but certainly by example the rest of the automobile industry to accelerate their shift to clean and electric vehicles. So, this is, how I like to say, the mother of all markets. It’s a monster market. Batteries alone, the batteries to move from internal combustion vehicles to electric vehicles, are estimated to be $400 billion per year, Barry, for 20 years. We are going to — we must recreate all the infrastructure that we use to power out planet. RITHOLTZ: Let’s talk about something we haven’t gotten to when we were talking about those larger waves of innovation. Lots of folks are excited about blockchain and crypto and Web 3.0. But when we look at things like Bitcoin, it’s a big energy hog, how do we reconcile all the wealth that’s being created there with its massive electricity consumption? DOERR: Its electricity consumption is sustainable and so, we’re going to have to move to clean Bitcoin, green Bitcoin and we’ll get there by regulation, if not, by other market forces I would predict. Today, I believe that Bitcoin uses as much energy as the entire nation of Sweden. So, Bitcoin, I believe, is here to stay but it — we can’t fuel it through dirty electricity. RITHOLTZ: You mentioned concrete earlier and I also read in the book that you want to end single-use plastics. What does the world of material science promised us for replacing things in those spaces? How do you replace concrete? How do you replace single-use plastic? DOERR: Concrete is probably the hardest problem of all because in the production of the concrete, you almost must create carbon emissions. We can reduce the energy use to make concrete. There are some concrete innovations that absorb the CO2 into the material. But that’s an area where we need more innovation. What was your second area? RITHOLTZ: Single-use plastics. DOERR: Single-use plastics. The plan calls for the banning and really the replacement of single-use plastics. The banning of single-use plastics and in general to replace plastics with compostable materials that can be recycled and I am confident that with investment and entrepreneurial work, we can get that done. RITHOLTZ: So, we haven’t really talked about pulling carbon out of the atmosphere. I get the sense from some people that they’re expecting some technological magic bullet that’s going to solve climate change. Tell us about how we can remove carbon from the atmosphere and is there a magic bullet coming. DOERR: The speed and scale plan calls for us to remove 10 gigatons of carbon dioxide per year. I emphasize remove. This will be gigatons of CO2 emissions that we were not able to eliminate, we were not able to cut, we were not able to slash. They’ll be some uses of aviation fuel as an example or other stubborn carbon. Two approaches to this, one of which is to innovate around nature-based ways of removing CO2. For example, growing greater kelp forest in the oceans. But the other that has captured a lot of attention is called direct air capture or that’s engineered removal of carbon. Think of them as kind of mechanical trees and this technology works today but only at small scale. It sucks the CO2 out of the air. It requires a lot of electricity in order to do that. And so, it’s very expensive today, some $600 per ton. If we’ve got to remove five gigatons per year at $600 per ton, that’s $3 trillion a year and it’s hard to see how that’s affordable. So, entrepreneurs are hard at work to lower those costs and I hope they do. RITHOLTZ: So, there’s a quote I like from another venture capitalist who said venture capital properly deployed can solve the biggest problems, filling the void left by shrinking scientific ambitions of governments, foundations and international organizations. What are your thoughts on that approach? How crucial is venture capital to our future and can it replace these other entities? DOERR: Venture capital is crucial and it’s stepping up to the challenge. There will be an estimated $30 billion invested venture capital in climate technologies this year. Our plan calls for 50 billion this year. But venture capital is not going to get this job done on its own. We need government-funded research and development to grow in the U.S. alone to 40 billion a year. Other countries have got to triple their funding. We need project financing. We need philanthropic investing. Jeff Bezos’ commitment of $10 billion to the Bezos Earth Fund is the largest philanthropic commitment to climate crisis that we’ve ever witnessed or enjoyed. There’s really four accelerators that will get this job done. One of them is investing. Another is innovation, the work of entrepreneurs. But I think the hardest are going to be to turn our movements into actions so we get the politics and the policy correct because it’s going to take a massive, collective, coordinated effort to achieve our ultimate OKR and that’s to take 59 gigatons of emissions to net zero by 2050. RITHOLTZ: That’s an ambitious target and if we miss that target, what are the ramifications? DOERR: We’ll leave our kids and our grandkids an uninhabitable planet. We’ll see the Arctic sea ice surely melts away. We’ll have — estimates are up to a billion climate refugees. There’s 10 million of them already. Hundreds of millions of people will starve. It’s unthinkable. And so, we must get this done. RITHOLTZ: So, let me turn this back to what’s going on in the world of venture now. When the early decades of you work at Kleiner Perkins was into a very friendly IPO market, how much does timing matter broadly, meaning, hey, if there’s an exit available, if there’s a big IPO market that makes it more likely people are going to invest in these companies and have a successful exit. Tell us a little bit about timing. DOERR: Well, investors, myself included, will stop at nothing to copy success. So, the timing of today’s markets for climate technologies whether it’s Tesla or Rivian or better batteries or Beyond Meat, it’s good and I would say in the long run, it’s going to continue to be good because the size of the markets and the need, the economic need, the opportunity, and the planetary pressures. RITHOLTZ: So, if a younger venture capitalist or a newfound venture fund came to you and ask for advice, what would you tell them about this opportunity? DOERR: There’s so many different venture firms and strategies. I would say to them that this is the greatest opportunity with 21st century that they should be strategic about their contribution. Is it to work with early-stage entrepreneurs and removing technical risks or at the other extreme, is it to be smart and sharp about project financing? But the overall costs of the transition from a dirty fossil economy to a clean new energy economy is $4 trillion per year, per year. That sounds like a big number until you compare it with the cost of dirty energy, the social cost, the disruption, the premature deaths. One in five deaths are premature due to carbon pollution. Those come in at about $10 billion per year. So, it’s literally cheaper to save the Earth than it is to ruin it. RITHOLTZ: And there’s just seems to be endless amounts of cash pouring into the venture capital sector. Arguably, it’s never been higher. What are your thoughts on this? Does it worry you? What’s the driver of all this money sloshing around? DOERR: Some people say that we’re experiencing a bubble, a bubble in fintech or Bitcoin or climate technologies. I see it very differently. I think it’s a boom and historically, whether it was the advent of transcontinental railroads or the automobiles, we saw booms which led to full employment, overinvestment, rapid innovation. And, no, not all those car companies survive. But I think the same will be true of the other fields of innovation. I think one of the things that gives me great hope is the power of human ingenuity. We got ourselves into these specs and, Barry, I’m betting, we’re going to figure our way out. RITHOLTZ: So, what do you say to people who sort of posture Silicon Valley’s best days are behind it? Do you have a response to any of those folks? DOERR: I think they’re wrong. I think provided we deal with this existential threat, the climate crisis, and that is not guaranteed, but provided we do that and we get a 50% reduction in the next decade, I think we’re on track for a wonderful, prosperous, healthy planet. RITHOLTZ: Can I tell you and I should have mentioned this earlier but I read a ton of books for the show and I found the book really quite fascinating and it’s pretty obvious to me that an engineer was behind this. There’s just a lot of great slides and charts and graphs and it’s not just all texts. Parts of it are narrative and parts of it are historical and it reminds me of a well-made slide deck. So, nice job on the book. DOERR: Well, thanks for sharing that. I want to send you a bound version of the book if you’ll email me your physical mailing address. There’s one other thing — other story I might tell you about the book. RITHOLTZ: Sure. DOERR: I was talking the other day with a reader, a mom who told me that every night, she takes two or three pages of the book and she reads them together with her daughter and then they talk about together what that means for the world her daughter is going to inherit, and I thought, wow, that’s the use of the book I never imagined and one that I’m honestly proud of. RITHOLTZ: How — it looks like this was the work of a lot of different people. How did you end up researching and writing this? DOERR: We talked to hundred different leaders in the field, policymakers, researchers, modelers, activists and from those, selected some 35 stories. We ended up with a thousand different data points that we needed to verify and collected those into 500 end notes, which are in the book. And I did it with an amazing small team of three or four on research and writing stuf. I’m an engineer as you know and so I’m not so good with words and I had the benefit of a writing team that helped make this much more readable. RITHOLTZ: Well, it shows, you can see the book is a fast read. I sat down with a bunch of stickies and highlighter and found myself just plowing through chapter after chapter. It was a relatively quick read and very easy to put down and then pick back up again. Each chapter is very distinct and you’ve really laid out a plan to prevent climate catastrophe from taking place. So, thank you for that. DOERR: One thing I want to make sure your audience know is this, they can get a free infographic, it’s a single poster-sized piece of paper that has on both sides of it all the objectives, all the key results, all the measures. And it’s reassuring for people who are fearful that there is a plan and that if we do these things, we can find a way to a habitable planet. That’s what we’ve got to do. RITHOLTZ: So, I know I only have you for a limited amount of time. Let me jump to my favorite questions that I ask all of my guests starting with tell us what you’ve been streaming these days, give us your favorite Netflix or Amazon Prime or whatever podcast you’re listening to. DOERR: So, I haven’t had time for streaming on Netflix. I’ve been doing research, reading books and papers on the climate crisis itself. But getting this word out, I’ve listened to a — I’ve started listening to a couple of new podcast, John Heilemann’s Hell & High Water … RITHOLTZ: Sure. DOERR: … and Tim Ferriss Show, both of which, I think, have a distinctive imprint from their hosts (ph). RITHOLTZ: Tell us about your mentors who helped to shape your career. DOERR: So, the biggest influence on my life was my dad Lou Doerr, an engineer, entrepreneur and hero and I’ve been blessed by a number of mentors, perhaps most notable of them, Andy Grove, and what I learned from him at Intel prompted me to write a first book called “Measure What Matters” and that tells stories of a dozen different organizations using OKRs, which is what then I applied to the climate crisis. I would tell you Al Gore is a hero of mine. He’s wonderfully resolute man who’s impassioned, effective and funny. He and I talked regularly about the climate crisis. RITHOLTZ: Tell us about some of your favorite books, what are your all-time favorites and what are you reading right now. DOERR: So, my current reading, no surprise, is largely around the climate crisis. I love Elizabeth Colbert’s “Under a White Sky” which described climate futures. And two other books are “How to Avoid a Climate Disaster” by Bill Gates, very accessible book, and a profile — a new profile of Winston Churchill called “The splendid and the Vile.” RITHOLTZ: Two good recommendations. What sort of advice would you give to a recent college grad who wanted to pursue a career in venture investing? DOERR: I would say to her gain experience as an entrepreneur. I’d repeat the advice that I was given early in my career which was go get a real job in a real growing tech company and sharpen your skills in the real hard world of business economics and then take that experience to help other entrepreneurs succeed. RITHOLTZ: And our final question, what do you know about the world of venture investing today that you wish you knew 40 years ago? DOERR: I wish I knew 40 years ago how important the team is, the leadership of the team, the recruiting of the team, the growing of the team because in the end, it’s more than large market, it’s more than compelling technologies. It’s teams who know how to execute well. RITHOLTZ: Really, really fascinating stuff. Thanks, John, for being so generous with your time. We have been speaking with John Doerr. He is a partner at famed venture firm Kleiner Perkins and the author of the new book, “Speed and Scale: An Action Plan for Solving our Climate Crisis Now.” If you enjoy this conversation, be sure and check out all of our previous discussions. You can find those wherever you find your favorite podcast, iTunes, Spotify, Acast, wherever. We love your comments, feedback and suggestions. Write to us at mibpodcast@bloomberg.net. Sign up for my daily reads @ritholtz.com. Follow me on Twitter, @Ritholtz. I would be remiss if I do not thank our crack staff that helps with these conversations together each week, Michael Batnick is my head of research, Atika Valbrun is our project manager, Paris Wald is our producer, I’m Barry Ritholtz, you’ve been listening to Masters in Business on Bloomberg Radio.   ~~~   The post Transcript: John Doerr appeared first on The Big Picture......»»

Category: blogSource: TheBigPictureDec 6th, 2021

Rockwell Automation (ROK) & Bravo to Offer Battery Solutions

Rockwell Automation's (ROK) partnership aligns well with the goal of nurturing innovation, sustainability practices and ESG initiatives in Brazil. Rockwell Automation, Inc. ROK is teaming up with Bravo Motor Company to provide forefront solutions for the batteries and electric vehicle manufacturers in the Brazilian market.California-based Bravo Motor offers applied innovation in decarbonization for the production of batteries, vehicles and energy storage systems.This alliance will aid Rockwell Automation in ramping up the first Giga Factory project in Latin America based on digitalization, comprising production optimization, integrated management and sustainability.Additionally, ROK will provide modern digital solutions for maximizing results and enhanced Time to Market, with optimization, simulation and augmented reality technologies combined with engineering and manufacturing. This partnership aligns well with Rockwell Automation’s goal of nurturing innovation, sustainability practices and ESG initiatives in Brazil.Rockwell Automation is heavily investing in the automotive market as it is one of the company’s major industries. Demand for batteries is rising on the higher need for electrification. Backed by rising demand for ESG and sustainability, ROK uses its products as operational efficiency and productivity tools to ensure the least consumption and energy efficiency.Bravo is offering the latest and evolving technology with the production of batteries, which will be utilized by electric vehicles and energy storage systems. Through ROK’s modern solutions, Bravo will be able to make the factories’ operations faster and ahead of the market.Rockwell Automation has been witnessing robust demand for core automation and digital transformation solutions. Huge capital investments across many end markets coupled with higher automation and digital transformation will continue to support solid order levels across all segments. The company expects orders in fiscal 2022 to likely reach $10 billion.Adjusted earnings per share guidance for fiscal 2022 is expected to be $9.20-$9.80, suggesting year-over-year growth of 1% at the mid-point. Rockwell Automation expects total sales of around $7.8 billion to $8 billion in fiscal 2022, with expected sales growth of 11% to 15%. Organic sales growth is projected at 10-14% for fiscal 2022.Given strong order wins from software and infrastructure services, Rockwell Automation continues to expect double-digit growth in both Core Automation and Information Solutions and Connected Services in fiscal 2022. It is poised to benefit from broadening the portfolio of hardware and software products, solutions and services while gaining traction from investments in the cloud. The company’s Intelligent devices continue to gain from significant strength across the automation portfolio and share gains in the Independent Cart Technology. Orders for auto and e-commerce remain very strong with robust growth in its Independent Cart Technology for motion control and battery applications.Price PerformanceRockwell Automation’s shares have lost 43.5% in the past six months compared with the industry’s decline of 42.3%.Image Source: Zacks Investment ResearchZacks Rank & Stocks to ConsiderRockwell Automation currently carries a Zacks Rank #3 (Hold).Some better-ranked stocks in the Industrial Products sector are Graphic Packaging Holding Company GPK, Myers Industries MYE and Titan International TWI, each flaunting a Zacks Rank #1 (Strong Buy) at present. You can see the complete list of today’s Zacks #1 Rank stocks here.Graphic Packaging has an estimated earnings growth rate of 86.8% for the current year. In the past 60 days, the Zacks Consensus Estimate for current-year earnings has been revised upward by 7.6%.Graphic Packaging pulled off a trailing four-quarter earnings surprise of 7.2%, on average. The company’s shares have appreciated 8% in the past six months.Myers Industries has an expected earnings growth rate of 67% for 2022. The Zacks Consensus Estimate for the current year’s earnings has moved up 27% in the past 60 days.MYE has a trailing four-quarter earnings surprise of 20.1%, on average. Myers Industries’ shares have increased 25% over the last six months.Titan International has an estimated earnings growth rate of 112% for the current year. In the past 60 days, the Zacks Consensus Estimate for current-year earnings has been revised upward by 55%.Titan International pulled off a trailing four-quarter earnings surprise of 56.4%, on average. The company’s shares have soared 46.7% in six months. Zacks Names "Single Best Pick to Double" From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all. It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time. This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.Free: See Our Top Stock and 4 Runners Up >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Rockwell Automation, Inc. (ROK): Free Stock Analysis Report Graphic Packaging Holding Company (GPK): Free Stock Analysis Report Titan International, Inc. (TWI): Free Stock Analysis Report Myers Industries, Inc. (MYE): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research.....»»

Category: topSource: zacksJun 30th, 2022

Enphase Energy (ENPH) System Demand Escalates in Washington

Enphase Energy (ENPH) announces that its Enphase Energy System, powered by IQ Microinverters and IQ Batteries, has witnessed increased deployment in Washington. Enphase Energy, Inc. ENPH recently announced that the demand for its Enphase Energy System, powered by IQ8 Microinverters and IQ Batteries, has escalated in Washington as homeowners seek higher energy security amid power outages due to extreme weather.Enphase Energy's products witness an increased demand due to their ability to provide power during prolonged power outages and help control rising energy costs. ENPH is already booking installations for the 2023 calendar year, demonstrating the rapidly growing demand for clean and reliable power.Additionally, with the introduction of the revolutionary Enphase IQ8 Microinverter, customers can access Sunlight Backup, which has the capability to restart the energy system during a power outage using only sunlight, thus providing backup power even with a fully depleted battery.Can Enphase Products Demand Survive in Washington?The demand for Enphase products is increasingly rapidly in the United States as the products not only lower utility bills and reduce the carbon footprint but also keep power flowing even during extreme weather conditions and grid disruptions. ENPH will continue to benefit from the rising demand as its products aim to increase the use of battery storage solutions during peak hours, reducing reliance on the grid and providing more energy independence for households across the state.Residential solar deployments in Washington are estimated to reach more than 75 megawatt in 2022, representing a 63% increase year over year. Moreover, the residential battery capacity in Washington is anticipated to increase by about four times by the end of 2026, per the report from U.S. Energy Storage Monitor and Wood Mackenzie. Hence, Enphase will enjoy the benefits of the rising demand in the region.Zacks Rank & Price PerformanceEnphase Energy presently has a Zacks Rank #3 (Hold). In the past six months, shares of ENPH have rallied 11.2% against the industry’s decline of 14.8%. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.Image Source: Zacks Investment ResearchBattery Storage Market Prospects in the USThe increasing energy costs, along with an increased focus of homeowners on becoming energy independent, are some of the factors that are primarily propelling the growth of the U.S. battery storage market. This is eventually benefiting companies like Enphase, which already enjoy a strong position as a leading U.S. manufacturer of microinverters and battery storage systems.Such growth projections entail immense prospects for solar companies in the United States like Enphase, SolarEdge Technologies SEDG, SunRun RUN and SunPower SPWR to reap the multitude of gains and prosper in the expanding battery storage market.SolarEdge’s StorEdge battery storage system helps meet energy demands with less or cheaper electricity. In 2021, SEDG strengthened its presence in the United States by launching its SolarEdge Energy Bank residential battery and SolarEdge Energy Hub inverter with enhanced backup power.SunRun’s BrightBox battery storage system offers the flexibility to generate, store and manage clean, affordable solar energy. BrightBox can buffer homeowners from increasing energy costs so that they have power when they need it the most, thus enabling homeowners to take charge of their electric bills and get control of energy needs now and in the future.SunPower’s Equinox system with the SunVault Storage solution offers an effective storage solution to homeowners by collecting excess energy in the daytime and distributing it as needed to power essential devices during an outage, thus reducing reliance on grid electricity. This also reduces peak-time charges. 5 Stocks Set to Double Each was handpicked by a Zacks expert as the #1 favorite stock to gain +100% or more in 2021. Previous recommendations have soared +143.0%, +175.9%, +498.3% and +673.0%. Most of the stocks in this report are flying under Wall Street radar, which provides a great opportunity to get in on the ground floor.Today, See These 5 Potential Home Runs >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report SunPower Corporation (SPWR): Free Stock Analysis Report Enphase Energy, Inc. (ENPH): Free Stock Analysis Report SolarEdge Technologies, Inc. (SEDG): Free Stock Analysis Report Sunrun Inc. (RUN): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research.....»»

Category: topSource: zacksJun 28th, 2022

A Mostly Wind- & Solar-Powered US Economy Is A Dangerous Fantasy

A Mostly Wind- & Solar-Powered US Economy Is A Dangerous Fantasy Authored by Francis Menton via The Gatestone Institute, When President Biden and other advocates of wind and solar generation speak, they appear to believe that the challenge posed is just a matter of currently having too much fossil fuel generation and not enough wind and solar; and therefore, accomplishing the transition to "net zero" will be a simple matter of building sufficient wind and solar facilities and having those facilities replace the current ones that use the fossil fuels. They are completely wrong about that. The proposed transition to "net zero" via wind and solar power is not only not easy, but is a total fantasy. It likely cannot occur at all without dramatically undermining our economy, lifestyle and security, and it certainly cannot occur at anything remotely approaching reasonable cost. At some point, the ongoing forced transition... will crash and burn. [I]t doesn't matter whether you build a million wind turbines and solar panels, or a billion, or a trillion. On a calm night, they will still produce nothing, and will require full back-up from some other source. If you propose a predominantly wind/solar electricity system, where fossil fuel back-up is banned, you must, repeat must, address the question of energy storage. Without fossil fuel back-up, and with nuclear and hydro constrained, storage is the only remaining option. How much will be needed? How much will it cost? How long will the energy need to remain in storage before it is used? There should be highly-detailed engineering studies of how the transition can be accomplished.... But the opposite is the case. At the current time, the government is paying little to no significant attention to the energy storage problem. There is no detailed engineering plan of how to accomplish the transition. There are no detailed government-supported studies of how much storage will be needed, or of what technology can accomplish the job, or of cost. It gets worse:.... Ken Gregory calculated the cost of such a system as well over $100 trillion, before even getting to the question of whether battery technology exists that can store such amounts of energy for months on end and then discharge the energy over additional months. And even at that enormous cost, that calculation only applied to current levels of electricity consumption.... For purposes of comparison, the entire U.S. GDP is currently around $22 trillion per year. In other words: we have a hundred-trillion-or-so dollar effort that under presidential directive must be fully up and running by 2035, with everybody's light and heat and everything else dependent on success, and not only don't we have any feasibility study or demonstration project, but we haven't started the basic research yet, and the building where the basic research is to be conducted won't be ready until 2025. Meanwhile the country heads down a government-directed and coerced path of massively building wind turbines and solar panels, while forcing the closure of fully-functioning power plants burning coal, oil and natural gas. It is only a question of time before somewhere the system ceases to work.... [I]t is easy to see how the consequences could be dire. Will millions be left without heat in the dead of winter, in which case many will likely die? Will a fully-electrified transportation system get knocked out, stranding millions without ability to get to work? Will our military capabilities get disabled and enable some sort of attack? No sane, let alone competent, government would ever be headed down this path. The Biden Administration's proposed transition to "net zero" via wind and solar power is not only not easy, but is a total fantasy. It likely cannot occur at all without dramatically undermining our economy, lifestyle and security, and it certainly cannot occur at anything remotely approaching reasonable cost. At some point, the ongoing forced transition will crash and burn. (Photo by VCG via Getty Images) With or without Congressional support, President Joe Biden has determined to move the U.S. as quickly as possible toward an economy predominantly powered by wind- and solar-sourced electricity. In his earliest days in office, Biden issued multiple Executive Orders directing the federal bureaucracy to bend all efforts to achieve this goal. One of those early Executive Orders, dated January 27, 2021 and titled "Tackling the Climate Crisis At Home and Abroad," stated: "It is the policy of my Administration to organize and deploy the full capacity of its agencies to combat the climate crisis to implement a Government-wide approach that reduces climate pollution in every sector of the economy..." When burned to generate energy, fossil fuels -- coal, oil and natural gas -- all emit carbon dioxide, otherwise known in Biden-speak as "climate pollution." Thus, under Biden's directive, they are all to be suppressed. The alternative of expanding nuclear power has meanwhile equally been made impractical by regulatory obstruction; and our potential hydro-electric capacity is already mostly in use. That leaves as the principal remaining option the generation of more electricity from wind and solar facilities; and indeed, the wind/solar electricity option is currently the subject of great regulatory favor, including extensive government subsidies and tax benefits. On last year's Earth Day, April 22, 2021, Biden issued a press release expanding on his Executive Orders and setting specific goals for the elimination of fossil fuels from the U.S. economy. Although Congress has not acted on any such proposals, the Earth Day press release supposedly committed the United States by unilateral executive action to "100 percent carbon pollution-free electricity by 2035," and to a "net zero emissions economy by no later than 2050." We are thus as a country embarked on a government-ordered crash program to eliminate our fossil fuel electricity generation within a very short 13-year period, and to eliminate all usage of fossil fuels within a not-much-longer 28 years. When Biden and other advocates of wind and solar generation speak, they appear to believe that the challenge posed is just a matter of currently having too much fossil fuel generation and not enough wind and solar; and therefore, accomplishing the transition to "net zero" will be a simple matter of building sufficient wind and solar facilities and having those facilities replace the current ones that use the fossil fuels. They are completely wrong about that. The green energy advocates, including our President and his administration, entirely misperceive the challenge at hand. The proposed transition to "net zero" via wind and solar power is not only not easy, but is a total fantasy. It likely cannot occur at all without dramatically undermining our economy, lifestyle and security, and it certainly cannot occur at anything remotely approaching reasonable cost. At some point, the ongoing forced transition, should it continue, will inevitably hit physical and/or financial limits, and will crash and burn. But the circumstances under which the crashing and burning will occur are currently unknown. Thus, worse than being a mere fantasy, the attempt to accomplish a "net zero" transition is a highly dangerous fantasy, putting the lives, health, and security of all Americans at risk as the attempted transition proceeds to its inevitable failure. The root of the mostly-unrecognized problem is that wind and solar generation facilities produce something fundamentally different from what fossil fuels produce. Fossil fuels produce energy that is reliable and dispatchable, that is, available when wanted and needed. The wind and sun produce energy that is intermittent, that is, available only when weather conditions permit, which often does not correspond to consumer demand. Here is something that ought to be blindingly obvious, but unfortunately goes largely unmentioned in discussions of the green energy transition: No amount of incremental wind and solar power generation on their own can ever provide a reliable 24/7 electricity grid. Electricity gets produced the moment it is consumed, and therefore a reliable grid must provide electricity to meet consumer demand at all hours. To take just the most obvious example, wind turbines produce nothing when the wind is calm, and solar panels produce nothing at night; and therefore, a combined wind/solar system produces nothing on a calm night. Unfortunately, peak electricity demand often occurs in the evening, shortly after sunset, when the wind is calm or close to it. Without full back-up from some source, an electrical grid powered by the wind and sun will experience, as just this one example, a full blackout on every calm night. And it doesn't matter whether you build a million wind turbines and solar panels, or a billion, or a trillion. On a calm night, they will still produce nothing, and will require full back-up from some other source. Fossil fuels, and particularly natural gas, are fully capable of providing the back-up needed by a principally wind/solar electricity generation system. But our President now directs that fossil fuel back-up is "carbon pollution" and must be eliminated. The remaining option is storage of the energy from the time when it is produced (e.g., in the case of a wind/solar system, at noon on a windy June day) until the time when it is needed for consumption (e.g., 7 PM on a calm December night). Which brings us to blindingly obvious statement number two: If you propose a predominantly wind/solar electricity system, where fossil fuel back-up is banned, you must, repeat must, address the question of energy storage. Without fossil fuel back-up, and with nuclear and hydro constrained, storage is the only remaining option. How much will be needed? How much will it cost? How long will the energy need to remain in storage before it is used? And, do storage systems exist that can store the energy for that period of time and return it without significant loss and at the rate required to keep the lights on? If our government officials were remotely competent, while proposing a green energy transition for the country over a short period of years -- and with hundreds of billions of dollars, if not trillions, being spent on the imminent transition -- these questions should be at the forefront of their attention every day. Long before the U.S. ever got committed to transition to an energy system based mostly on wind and sun, it should quite obviously have been far down the road toward demonstration of the feasibility and cost of the energy storage systems that are capable of enabling the transition. There should be highly-detailed engineering studies of how the transition can be accomplished. The requirements for amounts of batteries measured in gigawatt hours should be known at a high level of precision. The amounts of materials needed to produce the batteries should be known with an equally high level of precision. The technological capabilities of the batteries should be known with an also equally high level of precision (e.g., What is the optimum chemistry of the batteries to be used in the system? What will be loss of energy between input into the battery and consumption? How much in the way of additional generation facilities must be built to provide for this loss? How long can the batteries hold the charge? If charge added in June needs to be stored until December, do the proposed batteries have that capability? Do the proposed batteries need expensive climate control systems to enable them to hold the charge before it is used? And so on, and so on.) Indeed, by this time, supposedly only 13 years from when we will have a carbon-free electricity system, there should be existing demonstration projects showing clearly what technology will be used, and that the proposed technology works and can be deployed at grid scale and at reasonable cost. But the opposite is the case. At the current time, the government is paying little to no significant attention to the energy storage problem. There is no detailed engineering plan of how to accomplish the transition. There are no detailed government-supported studies of how much storage will be needed, or of what technology can accomplish the job, or of cost. It gets worse: In the absence of any serious government effort to address the engineering challenge of energy storage necessary to back up a predominantly wind/solar electricity system, the task has instead fallen to a small number of volunteer amateurs, mostly retired engineers of one sort or another. Several such people have produced credible calculations indicating that backing up a predominantly intermittent wind/solar electricity system using only battery storage will require storage in the range of approximately 30 days of average usage to avoid significant risk of the batteries running out of charge and the system crashing. The high amounts of storage required are largely a consequence of the seasonality inherent in either wind or solar generation, e.g., solar facilities produce far more electricity in the summer than the winter. One example of a serious effort to determine how much and what type of energy storage would suffice to back up a fully wind/solar electricity system was produced in 2018 by a man named Roger Andrews, a retired engineer then living in Mexico. Andrews's work appeared on a website called Energy Matters in November 2018. Andrews considered two cases, one for California and the other for Germany, and obtained detailed data of electricity usage and of production by existing wind and solar facilities in those places in order to make his calculations. Andrews' spreadsheets, and charts appearing in his post, demonstrate that, largely due to seasonality of production from both the sun and wind, it would take approximately 30 days of stored electricity usage to get through an entire year with a wind/solar system. Andrews showed that batteries to hold that amount of charge would cost in excess of a full year's GDP for either California or Germany, although, based on existing technology, batteries even at such enormous cost would not have the capability to hold the charge for sufficient months to fulfill their task. At the end of his post, Andrews concluded: "[B]attery storage is clearly not an option for a low-cost 100% renewable future." In a more recent example, in January 2022, a man name Ken Gregory -- a retired engineer living in Calgary, Canada -- undertook to produce a spreadsheet calculating storage requirements and costs for backing up a wind/solar electricity system for the case of the entire United States. Gregory's work is accessible at this link. Gregory's spreadsheet is based on detailed (in this case, hourly) data for actual consumption and generation from existing wind and solar facilities, with their wildly fluctuating output. Gregory's principal result is that full back-up by storage of the U.S. electricity system at current levels of consumption, and assuming all generation comes from wind and solar, would require something in the range of 250,000 gigawatt hours of battery capacity. Some of that energy would need to remain in storage for over six months, and be discharged over the course of months. Since U.S. electricity consumption is currently in the range of 3.7 million GWH per year, the 250,000 GWH storage requirement calculated by Gregory represents about 24 days of average usage, a result in the same range as the result reached by Andrews. Gregory calculated the cost of such a system as well over $100 trillion, before even getting to the question of whether battery technology exists that can store such amounts of energy for months on end and then discharge the energy over additional months. And even at that enormous cost, that calculation only applied to current levels of electricity consumption. The Biden "net zero" plan for 2050 involves the approximate tripling of electricity consumption, which by Gregory's calculations would drive the cost of the necessary storage up to the range of some $400 trillion. For purposes of comparison, the entire U.S. GDP is currently around $22 trillion per year. Obviously Gregory's calculations could be questioned or modified as to many of his assumptions, and perhaps his calculation of the cost of such a system is too high -- or maybe, too low. The fact remains that if the U.S. government were even slightly competent, it would have its own detailed engineering studies of how to accomplish its coerced energy transition, let alone, at this late date, demonstration projects for small cities or towns establishing the feasibility and cost of what is being proposed. None of that exists. Indeed, none of it is even in the works. To fully understand the depths of incompetence with which the U.S. government is approaching this energy transition, consider the current effort of the federal Department of Energy called the Energy Storage Grand Challenge. Under this program, the DOE proposes to hand out grants to study the challenges of creating batteries to back up the electricity grid when the grid has gone almost fully wind/solar, and particularly to study the subject of the "long duration" batteries that will clearly be needed to store and then discharge massive amounts of energy over the course of months on end to deal with the issue of seasonality. According to a piece that appeared in Energy Storage News in September 2021, here is the status of that effort: "The DOE is also helping to get a US $75 million long-duration energy storage research centre built at Pacific Northwest National Laboratory, which is expected to open by or during 2025." In other words: we have a hundred-trillion-or-so dollar effort that under presidential directive must be fully up and running by 2035, with everybody's light and heat and everything else dependent on success, and not only don't we have any feasibility study or demonstration project, but we haven't started the basic research yet, and the building where the basic research is to be conducted won't be ready until 2025. Meanwhile the country heads down a government-directed and coerced path of massively building wind turbines and solar panels, while forcing the closure of fully-functioning power plants burning coal, oil and natural gas. It is only a question of time before somewhere the system ceases to work. It is impossible to predict exactly when and where that will occur. But it is easy to see how the consequences could be dire. Will millions be left without heat in the dead of winter, in which case many will likely die? Will a fully-electrified transportation system get knocked out, stranding millions without ability to get to work? Will our military capabilities get disabled and enable some sort of attack? No sane, let alone competent, government would ever be headed down this path. *  *  * Francis Menton is the President of the American Friends of the Global Warming Policy Foundation, and blogs at manhattancontrarian.com Tyler Durden Thu, 04/28/2022 - 05:00.....»»

Category: blogSource: zerohedgeApr 28th, 2022

3 Clean Energy Stocks to Buy for a Green Future

These Clean Energy Stocks Could Offer a Green Future for Your Portfolio If the recent jaw-dropping rally in oil prices has reminded us of anything, it’s that our need for renewable energy sources has never been greater. With oil prices elevated thanks to the conflict between Russia and Ukraine, the biggest countries in the world […] These Clean Energy Stocks Could Offer a Green Future for Your Portfolio If the recent jaw-dropping rally in oil prices has reminded us of anything, it’s that our need for renewable energy sources has never been greater. With oil prices elevated thanks to the conflict between Russia and Ukraine, the biggest countries in the world are in desperate need of energy independence. Whether it’s wind, solar, hydroelectric, or other clean sources of power, it’s safe to say that the companies offering these green energy sources could be in for a lot of growth in the coming years. .first{clear:both;margin-left:0}.one-third{width:31.034482758621%;float:left;margin-left:3.448275862069%}.two-thirds{width:65.51724137931%;float:left}form.ebook-styles .af-element input{border:0;border-radius:0;padding:8px}form.ebook-styles .af-element{width:220px;float:left}form.ebook-styles .af-element.buttonContainer{width:115px;float:left;margin-left: 6px;}form.ebook-styles .af-element.buttonContainer input.submit{width:115px;padding:10px 6px 8px;text-transform:uppercase;border-radius:0;border:0;font-size:15px}form.ebook-styles .af-body.af-standards input.submit{width:115px}form.ebook-styles .af-element.privacyPolicy{width:100%;font-size:12px;margin:10px auto 0}form.ebook-styles .af-element.privacyPolicy p{font-size:11px;margin-bottom:0}form.ebook-styles .af-body input.text{height:40px;padding:2px 10px !important} form.ebook-styles .error, form.ebook-styles #error { color:#d00; } form.ebook-styles .formfields h1, form.ebook-styles .formfields #mg-logo, form.ebook-styles .formfields #mg-footer { display: none; } form.ebook-styles .formfields { font-size: 12px; } form.ebook-styles .formfields p { margin: 4px 0; } Get The Full Ray Dalio Series in PDF Get the entire 10-part series on Ray Dalio in PDF. Save it to your desktop, read it on your tablet, or email to your colleagues (function($) {window.fnames = new Array(); window.ftypes = new Array();fnames[0]='EMAIL';ftypes[0]='email';}(jQuery));var $mcj = jQuery.noConflict(true); Q4 2021 hedge fund letters, conferences and more We know that fossil fuels still play a huge role in the global economy, but there are still a variety of reasons to be bullish about clean energy stocks for the long term. Keep in mind that a lot of major political leaders including Joe Biden are on board with investing big in alternative energy sources, which means there will be plenty of opportunities for businesses to take advantage of. With growing evidence of climate change and the trend of sustainability picking up steam, it makes a lot of sense to start looking at the best clean energy stocks to buy for a green future. Here are a few stocks that standout: Tesla (NASDAQ:TSLA) No clean energy portfolio is complete without this leading electric vehicle manufacturer, which is the first clean energy company to cross the $1 trillion market capitalization mark. Tesla is a company with an instantly recognizable brand and a market-leading position in the EV space, which are both solid reasons to consider adding exposure. The company designs, manufactures, sells, and leases fully electric vehicles and energy generation and storage systems. Tesla's Model 3, Model Y, and Model S are among the best-selling electric cars in the world, and it's hard to bet against a man that is as dedicated as CEO Elon Musk. Tesla shares have been on fire over the last few weeks after breaking out of a downtrend, and with the recent news that another stock split could be on the horizon subject to shareholder approval, this EV stock's rally could be on the verge of becoming supercharged. Regardless of the split news, Tesla has been putting up solid earnings growth over the last few quarters as well, which is a quality that can be difficult to find in renewable energy stocks. Most recently, Tesla reported Q4 revenue up 65% to reach $17.7 billion, which was the best figure in the history of the company. It's hard to chase Tesla after such a strong move over the last few weeks, but the stock is absolutely a strong buy-the-dip candidate to consider going forward. Enphase Energy (NASDAQ:ENPH) Next up is Enphase Energy, a company known for developing innovative and efficient home energy solutions. Enphase’s microinverter technology is unique in that it offers a solar-plus-storage solution, which has helped the company develop a leading position in the solar roof panel market. It’s worth noting that the company is in the midst of rolling out a new product, which could be another positive for the stock. Enphase’s new IQ8 microinverter, which can supply power using the sun during outages even without a battery, result in stronger earnings next year and beyond. In Q4, Enphase delivered record revenues of $412.7 million, up 17% sequentially, which is certainly impressive given the semiconductor component shortage. The company also recently announced that its micro inverter-based solar systems are increasingly being used in commercial installations by government and community organizations in Australia. This is a good sign that Enphase could have upside in international markets, especially with the current geopolitical events that are occurring. The bottom line is that with commodity prices this elevated, renewable energy stocks offer intriguing upside, with Enphase Energy standing out as one of the top-quality businesses to choose from. Albemarle (NYSE:ALB) Have you ever stopped and wondered what exactly goes into the batteries that power electric vehicles? It’s lithium, a resource that can be expensive to come by unless you own the right land. That’s a big reason why Albemarle should be on your radar, as it’s the world’s largest lithium producer with plenty of low-cost lithium-producing assets in areas like Chile. The company also has a global leading position in the production of bromine and is a major producer of oil refining catalysts, rounding out a solid business model in the specialty chemicals space. Albemarle recently posted 12% adjusted EBITDA growth thanks to strong lithium prices and should continue to benefit from elevated commodity prices this year. Shares of this clean energy stock have been punished thus far in 2022, which means adding shares while they are well-off 52-week highs could be a nice option. Just keep in mind that lithium prices can be volatile, which translates to the potential volatility for the stock. Tesla is a part of the Entrepreneur Index, which tracks some of the largest publicly traded companies founded and run by entrepreneurs. Should you invest $1,000 in Tesla right now? Before you consider Tesla, you'll want to hear this. MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Tesla wasn't on the list. While Tesla currently has a "Hold" rating among analysts, top-rated analysts believe these five stocks are better buys. Article by Sean Sechler, MarketBeat Updated on Mar 31, 2022, 5:47 pm (function() { var sc = document.createElement("script"); sc.type = "text/javascript"; sc.async = true;sc.src = "//mixi.media/data/js/95481.js"; sc.charset = "utf-8";var s = document.getElementsByTagName("script")[0]; s.parentNode.insertBefore(sc, s); }()); window._F20 = window._F20 || []; _F20.push({container: 'F20WidgetContainer', placement: '', count: 3}); _F20.push({finish: true});.....»»

Category: blogSource: valuewalkMar 31st, 2022

3 Clean Energy Stocks To Buy For A Green Future

These Clean Energy Stocks Could Offer a Green Future for Your Portfolio If the recent jaw-dropping rally in oil prices has reminded us of anything, it’s that our need for renewable energy sources has never been greater. With oil prices elevated thanks to the conflict between Russia and Ukraine, the biggest countries in the world […] These Clean Energy Stocks Could Offer a Green Future for Your Portfolio If the recent jaw-dropping rally in oil prices has reminded us of anything, it’s that our need for renewable energy sources has never been greater. With oil prices elevated thanks to the conflict between Russia and Ukraine, the biggest countries in the world are in desperate need of energy independence. Whether it’s wind, solar, hydroelectric, or other clean sources of power, it’s safe to say that the companies offering these green energy sources could be in for a lot of growth in the coming years. if (typeof jQuery == 'undefined') { document.write(''); } .first{clear:both;margin-left:0}.one-third{width:31.034482758621%;float:left;margin-left:3.448275862069%}.two-thirds{width:65.51724137931%;float:left}form.ebook-styles .af-element input{border:0;border-radius:0;padding:8px}form.ebook-styles .af-element{width:220px;float:left}form.ebook-styles .af-element.buttonContainer{width:115px;float:left;margin-left: 6px;}form.ebook-styles .af-element.buttonContainer input.submit{width:115px;padding:10px 6px 8px;text-transform:uppercase;border-radius:0;border:0;font-size:15px}form.ebook-styles .af-body.af-standards input.submit{width:115px}form.ebook-styles .af-element.privacyPolicy{width:100%;font-size:12px;margin:10px auto 0}form.ebook-styles .af-element.privacyPolicy p{font-size:11px;margin-bottom:0}form.ebook-styles .af-body input.text{height:40px;padding:2px 10px !important} form.ebook-styles .error, form.ebook-styles #error { color:#d00; } form.ebook-styles .formfields h1, form.ebook-styles .formfields #mg-logo, form.ebook-styles .formfields #mg-footer { display: none; } form.ebook-styles .formfields { font-size: 12px; } form.ebook-styles .formfields p { margin: 4px 0; } Get Our Activist Investing Case Study! Get the entire 10-part series on our in-depth study on activist investing in PDF. Save it to your desktop, read it on your tablet, or print it out to read anywhere! Sign up below! (function($) {window.fnames = new Array(); window.ftypes = new Array();fnames[0]='EMAIL';ftypes[0]='email';}(jQuery));var $mcj = jQuery.noConflict(true); Q4 2021 hedge fund letters, conferences and more We know that fossil fuels still play a huge role in the global economy, but there are still a variety of reasons to be bullish about clean energy stocks for the long term. Keep in mind that a lot of major political leaders including Joe Biden are on board with investing big in alternative energy sources, which means there will be plenty of opportunities for businesses to take advantage of. With growing evidence of climate change and the trend of sustainability picking up steam, it makes a lot of sense to start looking at the best clean energy stocks to buy for a green future. Here are a few stocks that standout: Tesla (NASDAQ:TSLA) No clean energy portfolio is complete without this leading electric vehicle manufacturer, which is the first clean energy company to cross the $1 trillion market capitalization mark. Tesla is a company with an instantly recognizable brand and a market-leading position in the EV space, which are both solid reasons to consider adding exposure. The company designs, manufactures, sells, and leases fully electric vehicles and energy generation and storage systems. Tesla's Model 3, Model Y, and Model S are among the best-selling electric cars in the world, and it's hard to bet against a man that is as dedicated as CEO Elon Musk. Tesla shares have been on fire over the last few weeks after breaking out of a downtrend, and with the recent news that another stock split could be on the horizon subject to shareholder approval, this EV stock's rally could be on the verge of becoming supercharged. Regardless of the split news, Tesla has been putting up solid earnings growth over the last few quarters as well, which is a quality that can be difficult to find in renewable energy stocks. Most recently, Tesla reported Q4 revenue up 65% to reach $17.7 billion, which was the best figure in the history of the company. It's hard to chase Tesla after such a strong move over the last few weeks, but the stock is absolutely a strong buy-the-dip candidate to consider going forward. Enphase Energy (NASDAQ:ENPH) Next up is Enphase Energy, a company known for developing innovative and efficient home energy solutions. Enphase’s microinverter technology is unique in that it offers a solar-plus-storage solution, which has helped the company develop a leading position in the solar roof panel market. It’s worth noting that the company is in the midst of rolling out a new product, which could be another positive for the stock. Enphase’s new IQ8 microinverter, which can supply power using the sun during outages even without a battery, result in stronger earnings next year and beyond. In Q4, Enphase delivered record revenues of $412.7 million, up 17% sequentially, which is certainly impressive given the semiconductor component shortage. The company also recently announced that its micro inverter-based solar systems are increasingly being used in commercial installations by government and community organizations in Australia. This is a good sign that Enphase could have upside in international markets, especially with the current geopolitical events that are occurring. The bottom line is that with commodity prices this elevated, renewable energy stocks offer intriguing upside, with Enphase Energy standing out as one of the top-quality businesses to choose from. Albemarle (NYSE:ALB) Have you ever stopped and wondered what exactly goes into the batteries that power electric vehicles? It’s lithium, a resource that can be expensive to come by unless you own the right land. That’s a big reason why Albemarle should be on your radar, as it’s the world’s largest lithium producer with plenty of low-cost lithium-producing assets in areas like Chile. The company also has a global leading position in the production of bromine and is a major producer of oil refining catalysts, rounding out a solid business model in the specialty chemicals space. Albemarle recently posted 12% adjusted EBITDA growth thanks to strong lithium prices and should continue to benefit from elevated commodity prices this year. Shares of this clean energy stock have been punished thus far in 2022, which means adding shares while they are well-off 52-week highs could be a nice option. Just keep in mind that lithium prices can be volatile, which translates to the potential volatility for the stock. Tesla is a part of the Entrepreneur Index, which tracks some of the largest publicly traded companies founded and run by entrepreneurs. Should you invest $1,000 in Tesla right now? Before you consider Tesla, you'll want to hear this. MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Tesla wasn't on the list. While Tesla currently has a "Hold" rating among analysts, top-rated analysts believe these five stocks are better buys. Article by Sean Sechler, MarketBeat Updated on Mar 30, 2022, 4:49 pm (function() { var sc = document.createElement("script"); sc.type = "text/javascript"; sc.async = true;sc.src = "//mixi.media/data/js/95481.js"; sc.charset = "utf-8";var s = document.getElementsByTagName("script")[0]; s.parentNode.insertBefore(sc, s); }()); window._F20 = window._F20 || []; _F20.push({container: 'F20WidgetContainer', placement: '', count: 3}); _F20.push({finish: true});.....»»

Category: blogSource: valuewalkMar 30th, 2022

Green Technologies Have A Glaring Problem Of Scale

Green Technologies Have A Glaring Problem Of Scale Authored by Iddo Wernick via RealClearScience.com, In the context of the massive attention paid to climate change, nations around the world have committed to substantially reducing and even eliminating their carbon emissions by 2050. Achieving these goals relies on several ‘green’ technologies that would form the basis of a future energy system. As envisioned, mass deployment of these technologies will encounter fundamental physical limits that call into question their ability to function as replacements for their equivalents in the current energy system. By placing firm targets, nations around the world have committed to terminating their carbon dioxide emissions by 2050 to offer confidence that a better world is achievable if only society implements the right policies and employs the correct technologies. This assumption is inaccurate, based on a view that is at odds with nature. Due to unavoidable physical constraints, future green technologies offer little promise for achieving economies of scale. Many of the improvements suggested to improve their performance remain marginal and frequently come with the environmental costs of additional embedded energy requirements, extensive land use and greater material complexity. The outcomes achieved under laboratory conditions are not guaranteed to be viable at the scale necessary for them to make a significant difference.  Efforts to improve energy efficiency remain essential, but those efforts are not likely to reduce aggregate energy use. The vehicles and appliances of 2050 will likely be more efficient than those of today, but precisely because of their greater efficiency there will be many more of them. Under almost any scenario, global electricity demand will increase between now and 2050 and meaningful reductions in carbon emissions will need to come from changes in the primary energy supply. The technological vision implied by national pledges for a carbon neutral 2050 assumes that future societies will be able to: 1) Harvest nearly all the energy society uses directly from renewable natural sources (sun, wind, currents, waves, vegetation); 2) Store large amounts of electricity over long periods, and 3) Collect carbon dioxide molecules from mixed gases and dispose of them. A further implied assumption is that governments and citizens will be willing to pay the costs of environmental externalities independent of their cost, including the costs of avoiding a predicted climate disaster. Technologies designed to capture the radiant energy of the sun or the kinetic energy of the wind must accommodate the inherent randomness of these sources. Nature’s tendency to favor disorder over order (i.e., the 2nd law of thermodynamics) complicates the goal of extracting net energy from sources that rely directly on meteorological conditions. Moreover, the engineering devices deployed to convert these sources into electricity are subject to physical laws that limit their practical efficiency actually converting solar radiation and moving air into useful energy.  Centuries of searching for chemically compatible materials for a battery that can store significant energy, charge quickly, sustain many charge-discharge cycles, and do so safely and reliably have yielded batteries capable of powering appliances but still not well suited to powering vehicles or electric grids. Todays’ electric cars use a considerable amount of energy to transport their own battery packs. Utility scale batteries require massive capital outlays for equipment that offers hours, not days, of storage capacity. Huge economic rewards await those who can solve the technical puzzle of safe, reliable, energy dense batteries, but so far this object remains elusive. The technical problem of reliably removing carbon dioxide molecules from a mixed gas has been solved. Nonetheless, the removal process requires significant energy that reduces the net amount of useful energy generated when burning hydrocarbons. After decades of research and development, removing CO2 from a post combustion waste stream still requires 20-30% of the total energy generated under ideal conditions. Clever engineering can finesse technical challenges but cannot overcome fundamental forces of nature. The technologies proposed for meeting future carbon-neutral energy commitments rely on manipulating materials and energy at increasingly microscopic scales. Typically, proposed technologies rely on employing sophisticated control systems or highly engineered materials that improve efficiency outcomes. However, even pilot-scale advances in green energy technologies may offer little proof of their success when scaled up to mass production and consumption as the same strict tolerances and controlled conditions become more difficult to achieve.  Successful technologies may not succeed instantly and need to emerge over time, but their success cannot be forced by government fiat or the mandates of Five-Year Plans. Widely diffused technologies generally exploit sound scientific principles that benefit the humans they are intended to serve. They offer economic benefit by adding value to goods and services that consumers are willing to pay for. They typically rely on some scientific phenomenon that can be enhanced through the diligence of engineers to innovate in applying it.  For example, engineers have learned to control how we burn fuels to create optimal conditions for efficient heat generation and heat transport in power plants, homes and vehicles. The history of growth in digital processing and communication similarly relies on repeatedly exploiting basic principles in solid state physics with greater and greater engineering skill. Confidence that green technologies can scale to dominate national energy systems remains based more on marketing claims than on demonstrated operational experience. The national goals set for 2050 present a supreme technological challenge to reduce environmental fallout while raising living standards for billions around the globe. Neither rich nor poor nations can afford to invest in technologies that achieve questionable benefits at the expense of accessible, reliable energy services for its citizens. Technologies that do not scale are destined to remain boutique technologies, the purview of the rich, environmental activists, and politicians that seize upon them to make empty promises. Tyler Durden Mon, 11/29/2021 - 18:20.....»»

Category: blogSource: zerohedgeNov 29th, 2021

150+ of the best Cyber Monday deals to shop now: Target, Amazon, Walmart, and more

Shop Cyber Monday deals now. Save big at Amazon, Walmart, Target, and Nordstrom, and with small brands like Outdoor Voices, Eberjey, and Kiehl's. Prices are accurate at the time of publication.When you buy through our links, Insider may earn an affiliate commission. Learn more.Alyssa Powell/InsiderIt's November 29, which means Cyber Monday is live. Cyber Monday is explicitly an online-shopping event — even more so than Black Friday — and it's historically brought some of the sales weekend's lowest prices. While Cyber Monday is officially live now, many retailers are continuing Black Friday deals right now.Cyber Monday is a particularly great time to shop for tech, smart home, and gift cards, but categories like kitchen and home, as well as personal care are also very active.  Stock is typically more limited than Black Friday, which means acting fast is key to getting a good deal. Bookmark this page and check back throughout the day to keep up with discounts without spending all day combing the internet; we'll do the heavy lifting for you.At Insider Reviews, we test products all year and track their price history so we can give you solid buying advice during big shopping events like Cyber Monday. Tons of deals are available now on products we love and trust, and we're highlighting the best ones below.Spotlight: Our top 10 standout Cyber Monday dealsSony WH-1000XM4, $248 (originally $349.99)Amazon Echo (4th Gen), $59.99 (originally $99.99)KitchenAid Professional 5 Plus Series 5-Quart Bowl-Lift Stand Mixer, $294.11 (originally $429.99)Molekule Air Purifier, $479 (originally $799)Dyson V8 Absolute, $399.99 (originally $449.99)Eufy BoostIQ RoboVac 15C MAX, $169.99 (originally $279.99)Hulu Monthly Subscription, $0.99 (originally $6.99)Amazon Prime Video Channel Add-Ons, $0.99 for up to two months (originally up to $10.99 per month)L.L.Bean Wicked Good Slippers, Men's $75.65 (originally $89), Women's $67.15 (originally $79), and Toddlers $33.96 (originally 39.94)Lululemon Wunder Under High-Rise Tight, $69 (originally $98)Best Cyber Monday 2021 tech dealsAnker PowerWave Alloy PadIf you have a phone capable of charging at 15W or you want to future-proof, then the Anker PowerWave Alloy Pad is best for you.$24.79 FROM AMAZONOriginally $30.99 | Save 20%Belkin 15W Boost Charge Wireless ChargerBelkin's Boost Charge Wireless Charger is inexpensive, includes a charger and cable, and works as well as all the other options we tested.$29.99 FROM BEST BUYOriginally $39.99 | Save 25%Apple MagSafe ChargerApple’s MagSafe wireless charger uses magnets snap in place on the iPhone 12 and delivers charging of up to 15 watts. It is still compatible with wireless Qi charging, so older iPhone models can use it too, though they have to rest flat against the charger, as they lack the embedded magnets to take advantage of snap-on alignment. This is great for any iPhone owner looking for wireless charging and is on sale for $34.$29.99 FROM AMAZONOriginally $39.00 | Save 23%Roku Streaming Stick 4K (2021)Compared to the Roku Streaming Stick+, the new Streaming Stick 4K provides an improved viewing experience by adding support for Dolby Vision. This advanced high dynamic range (HDR) format can provide better picture quality on TVs that support it.$29.00 FROM AMAZONOriginally $49.99 | Save 42%$29.99 FROM ROKUOriginally $49.99 | Save 40%$29.99 FROM BEST BUYOriginally $49.99 | Save 40%$29.00 FROM WALMARTOriginally $49.99 | Save 42%Apple Pencil (2nd Generation)The Apple Pencil is a special stylus that lets you draw and handwrite on your iPad. There are two versions of the Apple Pencil, and they each work with a different collection of iPads.$99.00 FROM AMAZONOriginally $129.00 | Save 23%$99.00 FROM BEST BUYOriginally $129.00 | Save 23%$99.99 FROM VERIZONOriginally $129.99 | Save 23%$129.00 FROM APPLERoku Streambar 2020Too much clutter under the TV? The interesting Roku Streambar combines all of the features of a Roku 4K player with a compact soundbar.$79.98 FROM AMAZONOriginally $129.99 | Save 38%$79.98 FROM BEST BUYOriginally $129.99 | Save 38%$79.98 FROM TARGETOriginally $129.99 | Save 38%$99.00 FROM WALMARTOriginally $129.99 | Save 24%Google Nest Hub (2nd gen)The Google Nest Hub is a smart display with a unique Sleep Sensing feature to help you monitor your sleep habits. $49.99 FROM KOHL'SOriginally $99.99 | Save 50%$49.98 FROM WALMARTOriginally $99.98 | Save 50%$49.99 FROM BEST BUYOriginally $99.99 | Save 50%Apple Watch Series 7Much more than a timepiece, the Apple Watch can also be used for keeping track of workouts, making phone calls, sending text messages, setting timers and alarms, counting calories, and more.$379.99 FROM AMAZONOriginally $399.00 | Save 5%$379.99 FROM WALMARTOriginally $399.00 | Save 5%$399.00 FROM APPLESamsung Galaxy Watch 4 (40mm)The Samsung Galaxy Watch 4 is the obvious choice for Android users looking for a comprehensive, quality, premium smartwatch experience. However, it's a shame that the ECG feature is limited specifically to Samsung phone owners. $199.99 FROM AMAZONOriginally $249.99 | Save 20%$199.99 FROM TARGETOriginally $249.99 | Save 20%$199.99 FROM BEST BUYOriginally $249.99 | Save 20%MasterClass 2-for-1 membershipGet two MasterClass subscriptions for the price of one! Each subscription gets you access to all of MasterClass, so you can watch or sample unlimited celebrity and expert-led classes across a wide range of topics.$180.00 FROM MASTERCLASSOriginally $360.00 | Save 50%Bose QuietComfort 45The QuietComfort 45 have a refreshed design with improved noise cancelling and better battery life.$279.00 FROM BEST BUYOriginally $329.00 | Save 15%$279.00 FROM BOSEOriginally $329.00 | Save 15%$279.00 FROM AMAZONOriginally $329.00 | Save 15%$279.00 FROM WALMARTOriginally $329.00 | Save 15%Apple AirPods (3rd Gen)Apple's third-generation AirPods offer longer battery life, a MagSafe charger, water resistance, and support for spatial audio. $169.99 FROM AMAZONOriginally $179.00 | Save 5%$179.00 FROM APPLE$179.00 FROM BEST BUY$174.98 FROM WALMART$154.99 FROM MICRO CENTEROriginally $179.99 | Save 14%Apple Airpods (2nd Generation)You’ll need to pick up your pair from your local Micro Center, but this is a solid deal price for the second-generation Apple AirPods. You can often find them discounted as low as $120, making this extra $5 drop noteworthy. $104.99 FROM MICRO CENTEROriginally $129.99 | Save 19%$114.99 FROM TARGETOriginally $129.99 | Save 12%$114.99 FROM AMAZONOriginally $129.99 | Save 12%$119.99 FROM BEST BUYOriginally $129.99 | Save 8%Apple MacBook Air (M1)The latest MacBook Air released in late 2020 gains Apple's new M1 processor, which brings impressively fast performance and long battery life, for under $1,000, making it the best Apple laptop overall.$899.99 FROM BEST BUYOriginally $999.99 | Save 10%$999.00 FROM APPLE$999.00 FROM B&HApple 2020 MacBook Air (M1 chip, 8GB RAM, 512GB)The latest MacBook Air released in late 2020 gains Apple's new M1 processor, which brings impressively fast performance and long battery life, for prices starting at under $1,000, making it the best Apple laptop overall. The 512GB storage model adds to the price over the base 256GB model. $1099.99 FROM AMAZONOriginally $1199.00 | Save 8%$1149.00 FROM B&HOriginally $1199.00 | Save 4%Apple MacBook Pro with M1 Processor (13-inch, 8GB RAM, 256GB)Apple's latest MacBook Pro with the M1 processor is leaps and bounds beyond its predecessor, but the Intel MacBook Pro still has some tricks.$1199.00 FROM B&HOriginally $1299.00 | Save 8%$1299.00 FROM APPLELG 65-inch C1 OLED 4K TVLG’s C1 is one of the best 4K TVs you can buy. The OLED panel delivers incredible image quality with an infinite contrast ratio. This deal price matches the lowest we’ve seen so far.$1796.99 FROM AMAZONOriginally $2499.98 | Save 28%$1796.99 FROM WALMARTOriginally $2499.98 | Save 28%Samsung 65-inch Q60A QLED 4K TVSamsung's Q60A is the company's less expensive lineup of premium QLED TVs. $849.99 FROM BEST BUYOriginally $999.99 | Save 15%Amazon Fire TV 50" Omni SeriesAmazon launched its own smart TVs in fall 2021 and the Omni Series boasts features like hands-free Alexa support and video calling along with the latest Fire TV software.$359.99 FROM AMAZONOriginally $509.99 | Save 29%Amazon Echo (4th Gen)The latest Echo speaker from Amazon takes on a spherical design for more effective room-filling audio. $59.99 FROM AMAZONOriginally $99.99 | Save 40%$59.99 FROM BEST BUYOriginally $99.99 | Save 40%$59.99 FROM TARGETOriginally $99.99 | Save 40%Amazon Fire TV Stick 4K MaxThe Fire TV Stick 4K is designed to be 40% more powerful than Fire TV Stick 4K. It also adds Wi-Fi 6 support.$34.99 FROM AMAZONOriginally $54.99 | Save 36%$34.99 FROM BEST BUYOriginally $54.99 | Save 36%$34.99 FROM TARGETOriginally $54.99 | Save 36%Ring Video Doorbell (2020)The latest affordable Video Doorbell model from Ring features 1080p recording and improved motion tracking. It's a great deal if you're looking to start adding smart devices to your home. Orders made now will be fulfilled in 6 to 7 weeks.$79.98 FROM AMAZONOriginally $99.99 | Save 20%Google Nest Cam Outdoor Battery (2021) Elegant design, reliable performance, and wireless battery power make the Nest Cam Outdoor a tempting option to add peace of mind and checking in on your home's exterior when you're away. $149.99 FROM BEST BUYOriginally $179.99 | Save 17%$149.99 FROM GOOGLEOriginally $179.99 | Save 17%$149.99 FROM BED BATH & BEYONDOriginally $179.99 | Save 17%$149.99 FROM TARGETOriginally $179.99 | Save 17%$198.00 FROM AMAZONGoogle Nest ThermostatGoogle Nest makes some of the best smart thermostats you can buy. This model lets you control your home's temperature via the internet or through a mobile app. It can also learn your preferred temperature settings over time. $99.99 FROM TARGETOriginally $129.99 | Save 23%$89.99 FROM AMAZONOriginally $129.99 | Save 31%Vizio Elevate 5.1.4 SoundbarVizio's Elevate soundbar offers a 5.1.4 Dolby Atmos experience with performance that rivals many full-fledged home theater systems.$798.00 FROM AMAZONOriginally $1099.99 | Save 27%$799.99 FROM BEST BUYOriginally $1099.99 | Save 27%GoPro Hero 10 BlackThis video and still camera has similar capabilities to larger variants, while maintaining the small go-anywhere form-factor it's known for.$349.98 FROM GOPROOriginally $499.99 | Save 30%Best Cyber Monday 2021 kitchen dealsZojirushi MaestroThis bread machine is specifically calibrated to bake excellent one-pound loaves of bread, making it a solid choice for one or two-person households.$242.99 FROM AMAZONOriginally $329.99 | Save 26%$339.99 FROM ABTOriginally $395.00 | Save 14%Café Specialty Drip Coffee MakerWhat makes this coffee maker the best I tested is its combination of simplicity and customizability. It’s also extremely consistent — every cup of coffee brewed at every setting tasted just like it should. $279.95 FROM WILLIAMS SONOMAOriginally $349.95 | Save 20%$279.00 FROM BEST BUYOriginally $349.99 | Save 20%KitchenAid Professional 5 Plus Series 5-Quart Bowl-Lift Stand MixerThis KitchenAid is a powerful mixer that can handle sticky doughs and a few quarts of cake batter, but isn't too bulky for a home kitchen. It comes in eight colors, and each includes a flat beater, a spiral dough hook, and a wire whisk. $249.99 FROM TARGETOriginally $429.99 | Save 42%GreaterGoods Kitchen ScaleThis basic food scale is reliable and easy to use, for a low price.$8.39 FROM AMAZONOriginally $19.95 | Save 58%Nespresso Vertuo Next Deluxe Coffee and Espresso MakerA truly versatile machine, the Nespresso Vertuo Next uses capsules to make both coffee and espresso in a variety of cup or carafe sizes.$126.75 FROM TARGETOriginally $169.99 | Save 25%Ninja Professional Plus Food ProcessorThe Ninja Professional Plus makes food prep fast and easy with presets for chopped vegetables, shredded cheese, more.$79.98 FROM KOHLSOriginally $119.99 | Save 33%Ninja Foodi 5-in-1 Indoor Grill with Air Fryer, Roast, Bake & DehydrateThe Ninja Foodi 5-in-1 has five functions, including grill, bake, and dehydrate. Its temperatures range between 105°F to 500°F, giving it a lot of versatility in cooking options. Many of the parts are dishwasher safe for easier cleanup. $169.99 FROM TARGETOriginally $229.99 | Save 26%$169.99 FROM KOHL'SOriginally $249.99 | Save 32%Vitamix Explorian BlenderThe renewed Vitamix Explorian is pre-owned, but every bit as good as new and comes with a 90-day Amazon Renewed Guarantee on top of a 3-year full warranty.$289.95 FROM TARGETOriginally $449.99 | Save 36%$289.95 FROM BEST BUYOriginally $345.99 | Save 16%Instant Pot Duo Plus Pressure Cooker BundleThis bundle is a Target exclusive, and it includes an extra silicone egg rack and stainless steel steam rack for your pressure cooking needs. It’s only $60 right now — an excellent value for such a multifunctional kitchen appliance.$50.99 FROM TARGETOriginally $129.99 | Save 61%Cuisinart Chef's Classic 17-Piece Hard-Anodized Cookware SetThis nonstick set includes nine different pans, lids to match, and a steamer for a total of 17 pieces. $219.99 FROM KOHL'SOriginally $399.99 | Save 45%Keurig K-Mini Single Serve Coffee MakerThe slim 6- to 12-ounce coffee maker will fit neatly on any kitchen counter and save energy with the auto-off feature after brewing.$49.99 FROM THE HOME DEPOTOriginally $79.98 | Save 37%$89.99 FROM TARGETBest Cyber Monday 2021 home dealsHammam Linen Bath Towels 4-PackThese 100% cotton towels are big, soft, and fluffy.$33.15 FROM AMAZONOriginally $69.98 | Save 53%AeroGarden SproutA smaller option from AeroGarden's lineup, the Sprout lets you grow up to three plants in its narrow footprint. It's down to $70 with promo code SUMMER20 through May 31, a rare and excellent deal direct from AeroGarden.$49.95 FROM AEROGARDENOriginally $99.95 | Save 50%$49.99 FROM AMAZONOriginally $99.95 | Save 50%Chewy Pet ProductsFor Cyber Monday, Chewy is offering $30 off purchases of $100 or more. This is only for select products, including food, treats, beds, and more.$70.00 FROM CHEWYOriginally $100.00 | Save 30%Dyson Outsize Absolute+The Dyson Outsize Absolute+ is ideal for whole home, deep cleaning with its full-size dustbin and large cleaner head. $799.99 FROM DYSONOriginally $899.99 | Save 11%Dyson V8 AbsoluteBuilt with a soft roller head for hard floors and a motorized cleaner head for carpets, the Dyson V8 Absolute handles all surfaces efficiently.$399.99 FROM DYSONOriginally $449.99 | Save 11%Dyson Cyclone V10 AbsoluteEquipped with a sensor to detect the difference between carpets and hard floors, the Cyclone V10 Absolute is the perfect vacuum cleaner for any room in the house. We've seen it go for as low as $350 before (it's usually $550), but during Black Friday and Cyber Monday, you'll get it for $400 while supplies last.$499.99 FROM DYSONOriginally $549.99 | Save 9%Eufy BoostIQ RoboVac 15C MAXQuiet, slim, and powerful, the eufy RoboVac 15C Max is a solid investment if you're looking for a robot vacuum. It's already very affordable at retail price, but you can also often find it on sale, making it an even better deal.$169.99 FROM AMAZONOriginally $279.99 | Save 39%$169.99 FROM EUFYOriginally $249.99 | Save 32%iRobot Roomba i3+ (3550) Robot VacuumThe i3+ costs considerably more than your average robot vacuum, but it also does a lot more than the average robot vacuum. It develops personalized cleaning schedules and empties itself. $399.00 FROM WALMARTOriginally $599.00 | Save 33%$399.99 FROM IROBOTOriginally $599.99 | Save 33%$399.99 FROM THE HOME DEPOTOriginally $565.47 | Save 29%$399.99 FROM BEST BUYOriginally $599.99 | Save 33%Ecovacs Deebot Ozmo T8 AIVI Robot VacuumThe  Ecovacs Deebot Ozmo Pro Mopping System thoroughly cleans floors as opposed to pushing a wet cloth around. When paired with the Ecovacs Deebot Ozmo T8 AIVI Robot Vacuum, the two make easy work of time-consuming chores.$499.99 FROM AMAZONOriginally $749.99 | Save 33%$799.99 FROM BEST BUYBissell SpinWave Robot VacuumThe Bissell SpinWave Robot Vacuum picked up all the pet hair on carpet in our tests and has a great assortment of mop attachments and accessories. The company is also committed to helping homeless pets and helps them find loving homes. $249.00 FROM AMAZONOriginally $399.99 | Save 38%$299.00 FROM WALMARTOriginally $399.99 | Save 25%Dewalt Atomic 20-Volt Max Compact Drill/Impact Combo Kit This 20-Volt MAX Brushless Compact 2-Tool Combo Kit includes 1 cordless Drill/Driver, 1 cordless Impact Driver, two 20-Volt MAX Lithium Ion Batteries, 1 charger, and a carrying bag. $149.00 FROM THE HOME DEPOTOriginally $229.00 | Save 35%Kitchellence 3-Stage Knife SharpenerThis knife sharpener includes three stages to help repair and sharpen dull blades. It also includes cut-resistant gloves. $19.98 FROM AMAZONOriginally $30.00 | Save 33%Best Cyber Monday 2021 gaming dealsSony Spider-Man: Miles Morales Launch Edition (PS5)An all-new Spider-Man experience, Spider-Man Miles Morales has you master explosive new powers along with some classic web-slinging acrobatics. The PS5 update even lets you play the game in the gorgeous raytracing mode at a smooth 60 fps.$29.99 FROM TARGETOriginally $49.99 | Save 40%$29.99 FROM BEST BUYOriginally $49.99 | Save 40%$29.83 FROM AMAZONOriginally $49.99 | Save 40%Nintendo Switch Legend of Zelda: Breath of the Wild (Digital Download)The Legend of Zelda: Breath of the Wild was released for the Nintendo Switch in 2017, but still remains one of the best Switch games out there. Right now, a physical copy is selling for $40, which is a solid price on this rarely discounted game.$35.00 FROM WALMARTOriginally $59.99 | Save 42%Nintendo eShop $50 Gift CardThe Nintendo eShop is the best place to shop for digital copies of Nintendo's games. This gift card is the perfect gift or investment for anyone with a Nintendo Switch. Better still, Nintendo's eShop offers several sales throughout the year. This means, patient shoppers can double their savings.$45.00 FROM WALMARTOriginally $50.00 | Save 10%$50.00 FROM BEST BUY$45.00 FROM NEWEGGOriginally $50.00 | Save 10%Xbox Game Pass for PC (3-Month Membership)Typically, you can get a 3-month Game Pass subscription for $30. Right now, it's only $20, a solid deal. This is the PC version, which gets you EA Play, exclusive member discounts, and unlimited to access to over 100 games. $1.00 FROM MICROSOFTOriginally $29.99 | Save 97%$19.98 FROM AMAZONOriginally $29.99 | Save 33%$19.98 FROM BEST BUYOriginally $29.99 | Save 33%Microsoft Xbox Series S|X Wireless ControllerThis latest-gen Xbox gamepad is the best Microsoft has ever made, and during Cyber Monday, shoppers can save $20 on this recently released controller.$49.99 FROM MICROSOFTOriginally $59.99 | Save 17%$54.99 FROM BEST BUYOriginally $59.99 | Save 8%$49.00 FROM GAME STOPOriginally $54.99 | Save 11%$49.00 FROM WALMARTOriginally $64.88 | Save 24%Death Loop for PlayStation 5“Death Loop” is an unusual first-person shooter that challenges players to escape a day-long time loop by assassinating specific targets. The game is a great pick for fans of spy movies, sci-fi, and creative gunplay.$29.99 FROM BEST BUYOriginally $59.99 | Save 50%Call of Duty Vanguard for PlayStation 4The latest Call of Duty game is now on sale for $20 off, just a few weeks after its release.$39.00 FROM WALMARTOriginally $59.99 | Save 35%$44.99 FROM TARGETOriginally $59.99 | Save 25%Call of Duty Vanguard for PlayStation 5The latest Call of Duty game is now on sale for PlayStation 5 just a few weeks after its release.$54.99 FROM TARGETOriginally $69.98 | Save 21%$39.00 FROM WALMARTOriginally $59.94 | Save 35%Nintendo Mario Kart Live: Home Circuit Nintendo Switch Set EditionYou can use a Nintendo Switch to control this real-life Mario Kart toy, and watch Mario or Luigi’s perspective as they zoom around your home.$88.99 FROM TARGETOriginally $99.99 | Save 11%$99.99 FROM BEST BUYLogitech G305 Lightspeed Wireless Gaming MouseCompact and portable, the Logitech G305 is great to take on the go. It's best if you prefer smaller mice and right now it's only $40, a great price drop from a typical selling price of $50.$29.99 FROM AMAZONOriginally $59.99 | Save 50%$29.99 FROM WALMARTOriginally $48.97 | Save 39%Nintendo Switch Ring Fit Adventure"Ring Fit Adventure" for the Nintendo Switch uses the exclusive "Ring-Con" attachment and a leg strap to track movement and provide resistance for workouts. The game also includes an adventure mode. Right now, it's selling for $55 at Target and Amazon, $25 off its usual price and the lowest price we've ever seen on this game.$54.00 FROM AMAZONOriginally $79.98 | Save 32%$54.00 FROM WALMARTOriginally $80.00 | Save 33%$79.98 FROM BEST BUY$79.98 FROM TARGETBest Cyber Monday 2021 streaming dealsHulu Monthly Subscription (Deal)Save a huge 85% on an ad-supported Hulu subscription for an entire year. That amounts to just 99 cents per month. This deal is live until Monday, November 29. $0.99 FROM HULUOriginally $6.99 | Save 86%Disney Plus Free Trial with Amazon Music UnlimitedNew Amazon Music Unlimited subscribers can get six months of Disney Plus for free when they sign up. Current Music Unlimited members can get three months of Disney Plus. Music Unlimited costs $8 a month for Prime members or $10 a month without Prime.$0.00 FROM AMAZONAmazon Prime Video Channel Add-OnsPrime Video subscribers can choose from a variety of channel-add ons including Starz, Showtime, Paramount+, AMC+, Discovery+, and more.$0.99 FROM AMAZONOriginally $10.99 | Save 91%YouTube PremiumYouTube Premium lets you stream videos and music on YouTube without any ads. The service also features exclusive programs.FREE FROM YOUTUBEOriginally $11.99 | Save 100%Best Cyber Monday 2021 health & fitness dealsTheragun PrimeTheragun's Prime massage gun is the perfect blend of performance and value. It delivers a high-quality massage, is durably built, and features an ergonomic design that makes it easy to use anywhere on your body. It's also half the price of the flagship Pro model.$249.99 FROM THERABODYOriginally $299.00 | Save 16%$249.99 FROM KOHL'SOriginally $299.99 | Save 17%RENPHO Foot Massager MachineWith customizable patterns of kneading, compression, and heat therapy, the RENPHO Foot Massager Machine is a full-service Shiatsu device and feels like a home spa for your feet.$129.99 FROM AMAZONOriginally $149.99 | Save 13%Garmin Forerunner 245 MusicThe Garmin Forerunner 245 is a great choice for runners and offers features like calendar syncing, weather forecasting, and notifications, so you can leave your phone at home. $249.99 FROM TARGETOriginally $349.99 | Save 29%$249.99 FROM GARMINOriginally $349.99 | Save 29%Garmin Fenix 6SThe Garmin Fenix 6S Sapphire smartwatch is a premium watch perfect for those looking for enhanced GPS capabilities in a rugged design. The Fenix 6S features an always-on display, stainless steel bezels, an enhanced pulse oximeter for sleep monitoring and altitude acclimation, grade-adjusted pace guidance, and comes preloaded with maps, as well as the ability to tap into three different navigation satellite systems. $549.99 FROM AMAZONOriginally $749.99 | Save 27%Philips Sonicare 9900 PrestigeDentists love Philips Sonicare and its new 9900 Prestige has every bell and whistle you could want in an electric toothbrush, including the ability to adjust its vibrations based on how hard you're brushing.$299.99 FROM AMAZONOriginally $349.99 | Save 14%$299.95 FROM PHILLIPS SONICAREOriginally $349.99 | Save 14%Fitbit LuxeThe Fitbit Luxe is the company's latest fitness band that comes with a sleek design and advanced health features like stress management and the ability to measure heart rate variation.$99.99 FROM KOHL'SOriginally $149.99 | Save 33%$99.95 FROM FITBITOriginally $149.94 | Save 33%$99.95 FROM BEST BUYOriginally $149.94 | Save 33%Mirror from lululemonThis isn't just a mirror. It's a cardio class, it's a yoga studio, it's a boxing ring, it's your new personal trainer, and it's so much more. For Cyber Monday, Mirror is on sale for $500 with the code "CYBERMONDAY20"$995.00 FROM MIRROROriginally $1495.00 | Save 33%Hydro Flask 32-Ounce Wide Mouth This bottle has all the hallmark features of a Hydro Flask water bottle — 12-24 hours of temperature retention, powder color coating that won't chip or fade with time, a silicone twist top — with the very convenient wide mouth for easy pouring and drinking.$33.71 FROM HYDRO FLASKOriginally $44.95 | Save 25%Amazon HaloAmazon's Halo fitness tracker can analyze the tone of your voice to help you understand how you sound to others.$54.99 FROM AMAZONOriginally $99.99 | Save 45%LifeSpan TR1200i Folding TreadmillThe TR1200i is the baby sister of our top pick for a folding treadmill, the TR300i, with fewer built-in training programs and fewer fancy features like manual instead of digital buttons. But it's nearly the same size, has the same motor, and the same shock absorption — but for significantly cheaper.$899.00 FROM LIFESPANOriginally $1199.00 | Save 25%Best Cyber Monday 2021 style & beauty dealsKiehl's Powerful-Strength Vitamin C SerumThis serum by Kiehl’s boasts its ability to reduce fine lines, and customers agree—one even called it “botox in a bottle.”$44.00 FROM KIEHL'SOriginally $88.00 | Save 50%$70.00 FROM SEPHORAKiehl's Creamy Eye Treatment with Avocado This hydrating, fragrance-free eye cream de-puffs under-eyes. $25.00 FROM ULTAOriginally $50.00 | Save 50%$25.00 FROM KIEHL'SOriginally $50.00 | Save 50%Anastasia Beverly Hills Sugar Glow KitA palette with four metallic highlighter shades compatible with many skin tones, the Sugar Glow Kit is nice to have to change up your daily highlight or to do someone else's. Down to $20, this is a solid price on a palette from a brand known for it's popping highlights.$20.00 FROM SEPHORAOriginally $40.00 | Save 50%Fenty Beauty Portable Contour & Concealer BrushFenty Beauty Portable Contour & Concealer Brush $6.00 FROM FENTY BEAUTY Originally $24.00 | Save 75%Levi's Men's 501 Original Fit JeansNot too skinny and not too baggy, the Levi's 501 features a timeless fit that you'll be able to wear for years to come.$35.70 FROM LEVI'SOriginally $59.50 | Save 40%$35.70 FROM KOHL'SOriginally $59.50 | Save 40%$32.79 FROM AMAZONOriginally $59.50 | Save 45%Levi's 501 Original Fit JeansA blank canvas for self-expression, featuring the iconic straight fit and signature button fly.$58.80 FROM LEVI'SOriginally $98.00 | Save 40%Adidas Adilette Boost SlidesWith full-length Boost soles, these slides are designed for ultimate comfort.$35.70 FROM ADIDAS Originally $60.00 | Save 41%L.L.Bean Wicked Good Slippers - Men'sThis shearling-lined, leather-bottom slipper is one of the best men's slippers we've ever tried.$75.65 FROM L.L.BEANOriginally $89.00 | Save 15%L.L.Bean Wicked Good Shearling-Lined Slides - Women'sThese ridiculously-cozy, shearling-lined slides are easy to slip on and off, and keep your feet toasty around the house.$67.15 FROM L.L.BEANOriginally $79.00 | Save 15%L.L.Bean Toddlers' Wicked Good SlippersEverything we love about L.L.Bean's Wicked Good Slippers — but mini. These shearling-lined, leather-soled booties will keep kid's feet, sizes 3-10, toasty around the house and in a stroller.$33.96 FROM L.L.BEANOriginally $39.95 | Save 15%Lululemon Hooded Define JacketA fan-favorite, now with a hood. Between the technical fabric and a do-anything fit, it's easy to see why this one's a hit. Right now you can save up to 50% on this versatile piece, but sizes are selling out quickly. $64.00 FROM LULULEMONOriginally $128.00 | Save 50%Bombas Women's Gripper Slipper (Sherpa Lined) 2-PackA mix between socks and slippers, Bombas' Gripper Slippers include a cozy sherpa lining and sole grippers to prevent slips. $72.95 FROM BOMBASOriginally $96.00 | Save 24%Columbia Men's Lake 22 Down Hooded JacketThis water-resistant jacket is stocked with 650-fill power down insulation, zippered hand pockets, and a structured hood to keep you zipped up and toasty through any winter weather.$69.98 FROM COLUMBIAOriginally $140.00 | Save 50%Adidas Climacool VentoThe Adidas Climacool Vento features a highly breathable mesh upper to help keep your feet cool.$98.00 FROM ADIDASOriginally $140.00 | Save 30%Nike Adapt Auto MaxThe Nike Adapt Auto Max uses advanced technology to automatically form to your foot without laces.$288.97 FROM NIKEOriginally $400.00 | Save 28%Nike Space Hippie 01The Nike Space Hippie 01 is made from 50% recycled materials and features a lightweight, track-inspired look.$77.56 FROM NIKEOriginally $130.00 | Save 40%Crocs Classic Clog (Unisex)The shoe that really started it all, the Classic Clog is comfortable, breathable, and easy to slip on whenever. With over 20 fun colors to choose from, you can’t go wrong.$39.99 FROM CROCSOriginally $49.99 | Save 20%$27.55 FROM AMAZONDagne Dover Indi Diaper BackpackDagne Dover's Indi Diaper Backpack adds a stylish neutral flair while holding every basic essential.$160.00 FROM DAGNE DOVEROriginally $200.00 | Save 20%Rough Linen St. Barts Linen RobeThe Rough Linen St. Barts Robe is made from top-notch linen that offers a light feel and a cool, casual look.$131.93 FROM ROUGH LINENOriginally $167.00 | Save 21%Kiehl's Since 1851 Avocado Nourishing Hydration MaskWinter is coming, and Kiehls' Avocado Mask is here to provide your skin with hydration all season long. This nourishing treatment infuses your face with avocado and evening primrose oils, offering sumptuous moisture after just one use. Plus, it's green tint is a total throwback. You can save 50% on a jar during Black Friday sale. $21.50 FROM MACY'SOriginally $45.00 | Save 52%Giorgio Armani Lip Magnet Liquid LipstickA liquid lip color that gives you a super matte look, but it's so light it feels like a lip stain. The formula is highly pigmented, smudge-resistant, and comfortable on your lips.$19.00 FROM NORDSTROMOriginally $38.00 | Save 50%Nike Sportswear Essential Fleece PantsMade from soft fleece material, these sweats are perfect for everyday comfort.$48.00 FROM NORDSTROMOriginally $60.00 | Save 20%Thread & Supply Double Breasted PeacoatThis peacoat from Thread & Supply is a classic with a twist. The oversized buttons extend up the lapel to the collar, giving you the option to bundle up if necessary. And if you don't love it in black, never fear — you can save 31% on this coat in black, camel, or light gray. $39.90 FROM NORDSTROMOriginally $58.00 | Save 31%True & Co. True Body Triangle Convertible Strap BraletteThe convertible straps on this wireless bra can be worn either straight or crisscrossed, and the smooth material appears invisible under clothes.$30.80 FROM NORDSTROMOriginally $44.00 | Save 30%Chaps Mens Long Sleeve Button DownMade from an easy-to-care-for cotton blend and a dose of stretch, this men's button-down shirt will keep you looking polished all day.$19.98 FROM WALMARTOriginally $60.00 | Save 67%Nine West Car Coat CardiganThi cozy topper is part coat, part cardigan, and will keep you warm all winter. Save an extra 15% on this cardigan with the code ENJOY15 at checkout.$35.99 FROM KOHL'SOriginally $60.00 | Save 40%When is Cyber Monday?Cyber Monday falls on the Monday after Black Friday every year. In 2021, the shopping event will land on November 29.As a continuation of sorts to Black Friday, Cyber Monday gives shoppers another opportunity to save on tech, home goods, clothing, and more that you might've missed while digesting Thanksgiving dinner. Unlike Black Friday, though, Cyber Monday is entirely online.What time does Cyber Monday start?Cyber Monday officially begins at 12 a.m. ET on November 29. That said, the event is expected to carry over many deals from Black Friday, so some discounts are already available.What is Cyber Monday?Cyber Monday began as the online version of Black Friday, where online retailers offered big discounts to match their brick-and-mortar counterparts. Now, Cyber Monday is one of the biggest shopping days of the year, often surpassing even Black Friday in terms of revenue and sales. Previously, the main distinction between Black Friday and Cyber Monday was that Black Friday focused on in-store sales and Cyber Monday on online sales. But as shopping habits have increasingly favored the internet, shoppers can look forward to a very online-focused Cyber Monday and Black Friday. Cyber Monday offers a great opportunity to save on all your holiday gifts. How long do Cyber Monday sales last? Though Cyber Monday sales once took place on Monday only, we've seen them extend to longer and longer durations, with a handful lasting through the rest of the week. However, the best discounts we see are in limited supply and expire soon after they become available.What's better, Black Friday or Cyber Monday?With more and more buyers shopping online, the debate over which shopping holiday wins, is practically moot. Both events will be held predominantly online, and more than a few deals overlap. In fact, many Black Friday deals become Cyber Monday deals when the dates change. If possible, buyers should shop on both holidays. We've seen different products receive better discounts on each day, and the deals that each retailer offers will vary. Generally speaking, consumers shopping for big-ticket items, such as laptops, TVs, and kitchen appliances, can expect more opportunities on Black Friday. Shoppers looking for last year's models, smart home gadgets, digital subscriptions, and gift cards will likely find more luck during Cyber Monday.What should I buy during Cyber Monday?If a retailer offers Black Friday deals, it's a near guarantee that it will offer Cyber Monday deals, too. Amazon, Best Buy, Target, and Walmart are some noteworthy retailers that we know will participate in the shopping event, with deals across many product categories.We will likely see massive discounts on some of our favorite direct-to-consumer products during Cyber Monday, such as retail startups like Leesa and Brooklinen. For some online stores, Cyber Monday (or Cyber Week) will be one of the few times of the year when their products see major markdowns.Will there be Cyber Monday shipping delays?Shipping delays and shopping holidays are inextricably linked, so there's always a risk of late deliveries.To help you avoid the shipping crunch and get your stuff sooner, several retailers, including Walmart, Target, and Best Buy, offer in-store pickup and contactless curbside pickup. This means shoppers can grab their orders at a nearby location, provided that the retailer has it in stock. Best Cyber Monday deals we saw last yearLast year, we saw a lot of great sales on Cyber Monday ranging from sitewide discounts to specific products. Everything from home and kitchen, to subscription services were on sale during last year's annual savings event.Here are a few of the best Cyber Monday deals from 2020.  Philips Sonicare DiamondClean Classic Rechargeable Electric Toothbrush was $179 from Kohl's, originally $229.FujiFilm Instax Mini 11 Camera Bundle was $70 from Kohl's on Cyber Monday last year, originally $120.Keurig K-Supreme Single Serve K-Cup Pod Coffee Maker was $84 from Target on Cyber Monday last year, originally $140.How we select the best Cyber Monday dealsWe only choose products that meet our high standard of coverage, and that we've either used ourselves or researched carefully.We compare the prices among top retailers such as Amazon, Best Buy, Target, and Walmart and only include the deals that are better than all others offered (not including promotional discounts that come from using certain credit cards).All deals are at least 20% off, with the occasional exception for products that are rarely discounted or provide an outsized value.Read more about how the Insider Reviews team evaluates deals and why you should trust us.Read the original article on Business Insider.....»»

Category: topSource: businessinsiderNov 29th, 2021

A New Generation of Nuclear Reactors Could Hold the Key to a Green Future

On a conference-room whiteboard in the heart of Silicon Valley, Jacob DeWitte sketches his startup’s first product. In red marker, it looks like a beer can in a Koozie, stuck with a crazy straw. In real life, it will be about the size of a hot tub, and made from an array of exotic materials,… On a conference-room whiteboard in the heart of Silicon Valley, Jacob DeWitte sketches his startup’s first product. In red marker, it looks like a beer can in a Koozie, stuck with a crazy straw. In real life, it will be about the size of a hot tub, and made from an array of exotic materials, like zirconium and uranium. Under carefully controlled conditions, they will interact to produce heat, which in turn will make electricity—1.5 megawatts’ worth, enough to power a neighborhood or a factory. DeWitte’s little power plant will run for a decade without refueling and, amazingly, will emit no carbon. ”It’s a metallic thermal battery,” he says, coyly. But more often DeWitte calls it by another name: a nuclear reactor. [time-brightcove not-tgx=”true”] Fission isn’t for the faint of heart. Building a working reactor—even a very small one—requires precise and painstaking efforts of both engineering and paper pushing. Regulations are understandably exhaustive. Fuel is hard to come by—they don’t sell uranium at the Gas-N-Sip. But DeWitte plans to flip the switch on his first reactor around 2023, a mere decade after co-founding his company, Oklo. After that, they want to do for neighborhood nukes what Tesla has done for electric cars: use a niche and expensive first version as a stepping stone toward cheaper, bigger, higher-volume products. In Oklo’s case, that means starting with a “microreactor” designed for remote communities, like Alaskan villages, currently dependent on diesel fuel trucked, barged or even flown in, at an exorbitant expense. Then building more and incrementally larger reactors until their zero-carbon energy source might meaningfully contribute to the global effort to reduce fossil-fuel emissions. At global climate summits, in the corridors of Congress and at statehouses around the U.S., nuclear power has become the contentious keystone of carbon reduction plans. Everyone knows they need it. But no one is really sure they want it, given its history of accidents. Or even if they can get it in time to reach urgent climate goals, given how long it takes to build. Oklo is one of a growing handful of companies working to solve those problems by putting reactors inside safer, easier-to-build and smaller packages. None of them are quite ready to scale to market-level production, but given the investments being made into the technology right now, along with an increasing realization that we won’t be able to shift away from fossil fuels without nuclear power, it’s a good bet that at least one of them becomes a game changer. If existing plants are the energy equivalent of a 2-liter soda bottle, with giant, 1,000-megawatt-plus reactors, Oklo’s strategy is to make reactors by the can. The per-megawatt construction costs might be higher, at least at first. But producing units in a factory would give the company a chance to improve its processes and to lower costs. Oklo would pioneer a new model. Nuclear plants need no longer be bet-the-company big, even for giant utilities. Venture capitalists can get behind the potential to scale to a global market. And climate hawks should fawn over a zero-carbon energy option that complements burgeoning supplies of wind and solar power. Unlike today’s plants, which run most efficiently at full blast, making it challenging for them to adapt to a grid increasingly powered by variable sources (not every day is sunny, or windy), the next generation of nuclear technology wants to be more flexible, able to respond quickly to ups and downs in supply and demand. Engineering these innovations is hard. Oklo’s 30 employees are busy untangling the knots of safety and complexity that sent the cost of building nuclear plants to the stratosphere and all but halted their construction in the U.S. ”If this technology was brand-‘new’—like if fission was a recent breakthrough out of a lab, 10 or 15 years ago—we’d be talking about building our 30th reactor,” DeWitte says. But fission is an old, and fraught, technology, and utility companies are scrambling now to keep their existing gargantuan nuclear plants open. Economically, they struggle to compete with cheap natural gas, along with wind and solar, often subsidized by governments. Yet climate-focused nations like France and the U.K. that had planned to phase out nuclear are instead doubling down. (In October, French President Emmanuel Macron backed off plans to close 14 reactors, and in November, he announced the country would instead start building new ones.) At the U.N. climate summit in Glasgow, the U.S. announced its support for Poland, Kenya, Ukraine, Brazil, Romania and Indonesia to develop their own new nuclear plants—while European negotiators assured that nuclear energy counts as “green.” All the while, Democrats and Republicans are (to everyone’s surprise) often aligned on nuclear’s benefits—and, in many cases, putting their powers of the purse behind it, both to keep old plants open in the U.S. and speed up new technologies domestically and overseas. It makes for a decidedly odd moment in the life of a technology that already altered the course of one century, and now wants to make a difference in another. There are 93 operating nuclear reactors in the U.S.; combined, they supply 20% of U.S. electricity, and 50% of its carbon-free electricity. Nuclear should be a climate solution, satisfying both technical and economic needs. But while the existing plants finally operate with enviable efficiency (after 40 years of working out the kinks), the next generation of designs is still a decade away from being more than a niche player in our energy supply. Everyone wants a steady supply of electricity, without relying on coal. Nuclear is paradoxically right at hand, and out of reach. For that to change, “new nuclear” has to emerge before the old nuclear plants recede. It has to keep pace with technological improvements in other realms, like long-term energy storage, where each incremental improvement increases the potential for renewables to supply more of our electricity. It has to be cheaper than carbon-capture technologies, which would allow flexible gas plants to operate without climate impacts (but are still too expensive to build at scale). And finally it has to arrive before we give up—before the spectre of climate catastrophe creates a collective “doomerism,” and we stop trying to change. Not everyone thinks nuclear can reinvent itself in time. “When it comes to averting the imminent effects of climate change, even the cutting edge of nuclear technology will prove to be too little, too late,” predicts Allison Macfarlane, former chair of the U.S. Nuclear Regulatory Commission (NRC)—the government agency singularly responsible for permitting new plants. Can a stable, safe, known source of energy rise to the occasion, or will nuclear be cast aside as too expensive, too risky and too late? J R Eyerman—The LIFE Picture Collection/ShutterstockLaboratory personnel developing a fusion device in Project Sherwood at the Los Alamos National Laboratory, 1958 Trying Again Nuclear began in a rush. In 1942, in the lowest mire of World War II, the U.S. began the Manhattan Project, the vast effort to develop atomic weapons. It employed 130,000 people at secret sites across the country, the most famous of which was Los Alamos Laboratory, near Albuquerque, N.M., where Robert Oppenheimer led the design and construction of the first atomic bombs. DeWitte, 36, grew up nearby. Even as a child of the ’90s, he was steeped in the state’s nuclear history, and preoccupied with the terrifying success of its engineering and the power of its materials. “It’s so incredibly energy dense,” says DeWitte. “A golf ball of uranium would power your entire life!” DeWitte has taken that bromide almost literally. He co-founded Oklo in 2013 with Caroline Cochran, while both were graduate students in nuclear engineering at the Massachusetts Institute of Technology. When they arrived in Cambridge, Mass., in 2007 and 2008, the nuclear industry was on a precipice. Then presidential candidate Barack Obama espoused a new eagerness to address climate change by reducing carbon emissions—which at the time meant less coal, and more nuclear. (Wind and solar energy were still a blip.) It was an easy sell. In competitive power markets, nuclear plants were profitable. The 104 operating reactors in the U.S. at the time were running smoothly. There hadn’t been a major accident since Chernobyl, in 1986. The industry excitedly prepared for a “nuclear renaissance.” At the peak of interest, the NRC had applications for 30 new reactors in the U.S. Only two would be built. The cheap natural gas of the fracking boom began to drive down electricity prices, razing nuclear’s profits. Newly subsidized renewables, like wind and solar, added even more electricity generation, further saturating the markets. When on March 11, 2011, an earthquake and subsequent tsunami rolled over Japan’s Fukushima Daiichi nuclear power plant, leading to the meltdown of all three of its reactors and the evacuation of 154,000 people, the industry’s coffin was fully nailed. Not only would there be no renaissance in the U.S, but the existing plants had to justify their safety. Japan shut down 46 of its 50 operating reactors. Germany closed 11 of its 17. The U.S. fleet held on politically, but struggled to compete economically. Since Fukushima, 12 U.S. reactors have begun decommissioning, with three more planned. At MIT, Cochran and DeWitte—who were teaching assistants together for a nuclear reactor class in 2009, and married in 2011—were frustrated by the setback. ”It was like, There’re all these cool technologies out there. Let’s do something with it,” says Cochran. But the nuclear industry has never been an easy place for innovators. In the U.S., its operational ranks have long been dominated by “ring knockers”—the officer corps of the Navy’s nuclear fleet, properly trained in the way things are done, but less interested in doing them differently. Governments had always kept a tight grip on nuclear; for decades, the technology was under shrouds. The personal computing revolution, and then the wild rise of the Internet, further drained engineering talent. From DeWitte and Cochran’s perspective, the nuclear-energy industry had already ossified by the time Fukushima and fracking totally brought things to a halt. “You eventually got to the point where it’s like, we have to try something different,” DeWitte says. He and Cochran began to discreetly convene their MIT classmates for brainstorming sessions. Nuclear folks tend to be dogmatic about their favorite method of splitting atoms, but they stayed agnostic. “I didn’t start thinking we had to do everything differently,” says DeWitte. Rather, they had a hunch that marginal improvements might yield major results, if they could be spread across all of the industry’s usual snags—whether regulatory approaches, business models, the engineering of the systems themselves, or the challenge of actually constructing them. In 2013, Cochran and DeWitte began to rent out the spare room in their Cambridge home on Airbnb. Their first guests were a pair of teachers from Alaska. The remote communities they taught in were dependent on diesel fuel for electricity, brought in at enormous cost. That energy scarcity created an opportunity: in such an environment, even a very expensive nuclear reactor might still be cheaper than the current system. The duo targeted a price of $100 per megawatt hour, more than double typical energy costs. They imagined using this high-cost early market as a pathway to scale their manufacturing. They realized that to make it work economically, they wouldn’t have to reinvent the reactor technology, only the production and sales processes. They decided to own their reactors and supply electricity, rather than supply the reactors themselves—operating more like today’s solar or wind developers. “It’s less about the technology being different,” says DeWitte, “than it is about approaching the entire process differently.” That maverick streak raised eyebrows among nuclear veterans—and cash from Silicon Valley venture capitalists, including a boost from Y Combinator, where companies like Airbnb and Instacart got their start. In the eight years since, Oklo has distinguished itself from the competition by thinking smaller and moving faster. There are others competing in this space: NuScale, based in Oregon, is working to commercialize a reactor similar in design to existing nuclear plants, but constructed in 60-megawatt modules. TerraPower, founded by Bill Gates in 2006, has plans for a novel technology that uses its heat for energy storage, rather than to spin a turbine, which makes it an even more flexible option for electric grids that increasingly need that pliability. And X-energy, a Maryland-based firm that has received substantial funding from the U.S. Department of Energy, is developing 80-megawatt reactors that can also be grouped into “four-packs,” bringing them closer in size to today’s plants. Yet all are still years—and a billion dollars—away from their first installations. Oklo brags that its NRC application is 20 times shorter than NuScale’s, and its proposal cost 100 times less to develop. (Oklo’s proposed reactor would produce one-fortieth the power of NuScale’s.) NRC accepted Oklo’s application for review in March 2020, and regulations guarantee that process will be complete within three years. Oklo plans to power on around 2023, at a site at the Idaho National Laboratory, one of the U.S.’s oldest nuclear-research sites, and so already approved for such efforts. Then comes the hard part: doing it again and again, booking enough orders to justify building a factory to make many more reactors, driving costs down, and hoping politicians and activists worry more about the menace of greenhouse gases than the hazards of splitting atoms. Nuclear-industry veterans remain wary. They have seen this all before. Westinghouse’s AP1000 reactor, first approved by the NRC in 2005, was touted as the flagship technology of Obama’s nuclear renaissance. It promised to be safer and simpler, using gravity rather than electricity-driven pumps to cool the reactor in case of an emergency—in theory, this would mitigate the danger of power outages, like the one that led to the Fukushima disaster. Its components could be constructed at a centralized location, and then shipped in giant pieces for assembly. But all that was easier said than done. Westinghouse and its contractors struggled to manufacture the components according to nuclear’s mega-exacting requirements and in the end, only one AP1000 project in the U.S. actually happened: the Vogtle Electric Generating Plant in Georgia. Approved in 2012, its two reactors were expected at the time to cost $14 billion and be completed in 2016 and 2017, but costs have ballooned to $25 billion. The first will open, finally, next year. Oklo and its competitors insist things are different this time, but they have yet to prove it. “Because we haven’t built one of them yet, we can promise that they’re not going to be a problem to build,” quips Gregory Jaczko, a former NRC chair who has since become the technology’s most biting critic. “So there’s no evidence of our failure.” Georg Zinsler—Anzenberger/Redu​xA guided tour in the control room of reactor No. 2 inside the Chernobyl Nuclear Power Plant The Challenge The cooling tower of the Hope Creek nuclear plant rises 50 stories above Artificial Island, New Jersey, built up on the marshy edge of the Delaware River. The three reactors here—one belonging to Hope Creek, and two run by the Salem Generating Station, which shares the site—generate an astonishing 3,465 megawatts of electricity, or roughly 40% of New Jersey’s total supply. Construction began in 1968, and was completed in 1986. Their closest human neighbors are across the river in Delaware. Otherwise the plant is surrounded by protected marshlands, pocked with radiation sensors and the occasional guard booth. Of the 1,500 people working here, around 100 are licensed reactor operators—a special designation given by the NRC, and held by fewer than 4,000 people in the country. Among the newest in their ranks is Judy Rodriguez, an Elizabeth, N.J., native and another MIT grad. “Do I have your permission to enter?” she asks the operator on duty in the control room for the Salem Two reactor, which came online in 1981 and is capable of generating 1,200 megawatts of power. The operator opens a retractable belt barrier, like at an airport, and we step across a thick red line in the carpet. A horseshoe-shaped gray cabinet holds hundreds of buttons, glowing indicators and blinking lights, but a red LED counter at the center of the wall shows the most important number in the room: 944 megawatts, the amount of power the Salem Two reactor was generating that afternoon in September. Beside it is a circular pattern of square indicator lights showing the uranium fuel assemblies inside the core, deep inside the concrete domed containment building a couple hundred yards away. Salem Two has 764 of these constructions; each is about 6 inches sq and 15 ft. tall. They contain the source of the reactor’s energy, which are among the most guarded and controlled materials on earth. To make sure no one working there forgets that fact, a phrase is painted on walls all around the plant: “Line of Sight to the Reactor.” As the epitome of critical infrastructure, this station has been buffeted by the crises the U.S. has suffered in the past few decades. After 9/11, the three reactors here absorbed nearly $100 million in security upgrades. Everyone entering the plant passes through metal- and explosives detectors, and radiation detectors on the way out. Walking between the buildings entails crossing a concrete expanse beneath high bullet resistant enclosures (BREs). The plant has a guard corp that has more members than any in New Jersey besides the state police, and federal NRC rules mean that they don’t have to abide by state limitations on automatic weapons. The scale and complexity of the operation is staggering—and expensive. ”The place you’re sitting at right now costs us about $1.5 million to $2 million a day to run,” says Ralph Izzo, president and CEO of PSEG, New Jersey’s public utility company, which owns and operates the plants. “If those plants aren’t getting that in market, that’s a rough pill to swallow.” In 2019, the New Jersey Board of Public Utilities agreed to $300 million in annual subsidies to keep the three reactors running. The justification is simple: if the state wants to meet its carbon-reduction goals, keeping the plants online is essential, given that they supply 90% of the state’s zero-carbon energy. In September, the Illinois legislature came to the same conclusion as New Jersey, approving almost $700 million over five years to keep two existing nuclear plants open. The bipartisan infrastructure bill includes $6 billion in additional support (along with nearly $10 billion for development of future reactors). Even more is expected in the broader Build Back Better bill. These subsidies—framed in both states as “carbon mitigation credits”—acknowledge the reality that nuclear plants cannot, on their own terms, compete economically with natural gas or coal. “There has always been a perception of this technology that never was matched by reality,” says Jaczko. The subsidies also show how climate change has altered the equation, but not decisively enough to guarantee nuclear’s future. Lawmakers and energy companies are coming to terms with nuclear’s new identity as clean power, deserving of the same economic incentives as solar and wind. Operators of existing plants want to be compensated for producing enormous amounts of carbon free energy, according to Josh Freed, of Third Way, a Washington, D.C., think tank that champions nuclear power as a climate solution. “There’s an inherent benefit to providing that, and it should be paid for.” For the moment, that has brought some assurance to U.S. nuclear operators of their future prospects. “A megawatt of zero-carbon electricity that’s leaving the grid is no different from a new megawatt of zero carbon electricity coming onto the grid,” says Kathleen Barrón, senior vice president of government and regulatory affairs and public policy at Exelon, the nation’s largest operator of nuclear reactors. Globally, nations are struggling with the same equation. Germany and Japan both shuttered many of their plants after the Fukushima disaster, and saw their progress at reducing carbon emissions suffer. Germany has not built new renewables fast enough to meet its electricity needs, and has made up the gap with dirty coal and natural gas imported from Russia. Japan, under international pressure to move more aggressively to meet its carbon targets, announced in October that it would work to restart its reactors. “Nuclear power is indispensable when we think about how we can ensure a stable and affordable electricity supply while addressing climate change,” said Koichi Hagiuda, Japan’s minister of economy, trade and industry, at an October news conference. China is building more new nuclear reactors than any other country, with plans for as many as 150 by the 2030s, at an estimated cost of nearly half a trillion dollars. Long before that, in this decade, China will overtake the U.S. as the operator of the world’s largest nuclear-energy system. Francesca Todde—contrasto/Redux Civaux nuclear power plant, in Civaux, France, May 2018 The future won’t be decided by choosing between nuclear or solar power. Rather, it’s a technically and economically complicated balance of adding as much renewable energy as possible while ensuring a steady supply of electricity. At the moment, that’s easy. “There is enough opportunity to build renewables before achieving penetration levels that we’re worried about the grid having stability,” says PSEG’s Izzo. New Jersey, for its part, is aiming to add 7,500 megawatts of offshore wind by 2035—or about the equivalent of six new Salem-sized reactors. The technology to do that is readily at hand—Kansas alone has about that much wind power installed already. The challenge comes when renewables make up a greater proportion of the electricity supply—or when the wind stops blowing. The need for “firm” generation becomes more crucial. “You cannot run our grid solely on the basis of renewable supply,” says Izzo. “One needs an interseasonal storage solution, and no one has come up with an economic interseasonal storage solution.” Existing nuclear’s best pitch—aside from the very fact it exists already—is its “capacity factor,” the industry term for how often a plant meets its full energy making potential. For decades, nuclear plants struggled with outages and long maintenance periods. Today, improvements in management and technology make them more likely to run continuously—or “breaker to breaker”—between planned refuelings, which usually occur every 18 months, and take about a month. At Salem and Hope Creek, PSEG hangs banners in the hallways to celebrate each new record run without a maintenance breakdown. That improvement stretches across the industry. “If you took our performance back in the mid-’70s, and then look at our performance today, it’s equivalent to having built 30 new reactors,” says Maria Korsnick, president and CEO of the Nuclear Energy Institute, the industry’s main lobbying organization. That improved reliability has become its major calling card today. Over the next 20 years, nuclear plants will need to develop new tricks. “One of the new words in our vocabulary is flexibility,” says Marilyn Kray, vice president of nuclear strategy and development at Exelon, which operates 21 reactors. “Flexibility not only in the existing plants, but in the designs of the emerging ones, to make them even more flexible and adaptable to complement renewables.” Smaller plants can adapt more easily to the grid, but they can also serve new customers, like providing energy directly to factories, steel mills or desalination plants. Bringing those small plants into operation could be worth it, but it won’t be easy.”You can’t just excuse away the thing that’s at the center of all of it, which is it’s just a hard technology to build,” says Jaczko, the former NRC chair. “It’s difficult to make these plants, it’s difficult to design them, it’s difficult to engineer them, it’s difficult to construct them. At some point, that’s got to be the obvious conclusion to this technology.” But the equally obvious conclusion is we can no longer live without it. “The reality is, you have to really squint to see how you get to net zero without nuclear,” says Third Way’s Freed. “There’s a lot of wishful thinking, a lot of fingers crossed.”.....»»

Category: topSource: timeNov 16th, 2021

The Electricity Crisis Was Not Caused By A "Perfect Storm"

The Electricity Crisis Was Not Caused By A "Perfect Storm" By Leonard Hyman and William Tilles of OilPrice.com From hydropower failures in South America to natural gas shortages in Europe, and coal prices soaring in Asia, the global electricity crisis has clearly gone global While plenty of observers are willing to blame this on a ‘perfect storm’ of events, the truth is electricity providers were simply not prepared when they should have been As a result of this crisis, consumers are likely to disassociate themselves from unreliable and profit-chasing producers as they search for resilience  Recent news from the global electricity sector looks grim. South Americans, heavily dependent on hydroelectricity,  face drought-induced scarcity. Hard to believe in a continent laced by three enormous river systems. The alternatives for South American electricity users are an increased reliance on fossil fuels or turning off the lights (conservation). And unlike relatively inexpensive hydroelectricity, generating electricity with fossil fuels (apart from the ecological consequences) incurs fuel expense, which raises prices. The news emphasizes growing inflationary pressures. And this certainly feeds into that narrative. But there is a more worrisome problem for energy planners here. More droughts mean that hydro can no longer be considered a “firm” long-term resource for the electrical grid. Subtracting a major low-cost resource like hydro from a region’s energy mix and replacing it in any other fashion is an enormous financial undertaking. Just as countries are moving to reduce reliance on fossil fuels, one of the cleanest energy sources becomes scarcer. But there is a distinctly global flavor now to stories of electric utility infrastructure under duress not simply due to extreme weather. Failure of human ingenuity plays a part here. In Puerto Rico, the reorganized and semi-privatized electricity system, PREPA, experiences frequent blackouts. Yet customers seeking to install their own generation (and potentially resell power to the utility at critical times) can’t get the power company to hook them up. India faces an electricity shortage because power companies failed to restock coal inventories. Their executives expected a meaningful decline in coal prices which never materialized so they’re stuck. In the UK the windpower yield was below expectations and that dramatically pushed up power prices. But winter is coming—when the existing natural gas shortage pushes prices even higher. And then there is China. Electricity demand rose, coal usage increased, and coal prices went way up. But the government puts a ceiling on the price of electricity which causes generators to lose money on power sales in periods of rapidly escalating fuel prices like the present. So who wants to lose money on every KWH sold in the hope of making it up in volume? After experiencing blackouts and other usage reduction measures, the electric companies went to purchase more coal. However, world coal markets are now tight. One obvious short-term solution is a rapprochement with regional neighbor Australia despite a recent chilling in relations between the two governments.  In many places, the price of natural gas determines the price of electricity. If global warming were not a pressing concern, natural gas would be the boiler fuel of choice. In its absence, they would burn coal or oil. Natural gas prices have more than doubled this year in the US and quadrupled in European markets. No doubt a combination of higher demand and more cautious development by petroleum companies has tightened the market. But Europe depends to a great extent on Russian supplied gas and there are indications that the Russians did not fill European storage facilities in order to manipulate scarcity to their advantage. The Europeans do have alternatives to Russian gas, such as pipelines from Algeria (which is not the most stable supplier). Morocco wants to sign a deal but it has a problem caused by the sometimes rebellious Polisario Front which claims to represent the western Sahara region. European countries could sign big gas deals with Israel and Cyprus but would face Turkish objections. As they say, it’s complicated.  These and similar problems are not accidents and do not result from one-off difficulties or calamities. Forget about the perfect storm excuse. The problems arose because electric companies chose to defer capital and maintenance expenses, skimped on adequate fuel reserves, and focused on cost efficiencies. Customers would have been better served had they focused on hardening grid infrastructure and preserving continuous service against an increasingly hostile climate. Excessive focus on creating shareholder value can mean cutting corners to achieve savings. But the implied hope (and whether hope is an adequate basis for corporate strategy is another question) is that nothing untoward happens as a result. It’s like building a house of cards outside assuming the wind will never blow. It was in this vein that electric utilities adopted what amounts to a just-in-time supply system mentality with respect to electricity.  And there is another point to be emphasized. A well-functioning just-in-time inventory management system is a thing of beauty, efficiency, and cost minimization. But because of the extreme interdependency, one factory relies on the output of another, often thousands of miles away, any break in this carefully choreographed manufacturing process results in chaos and dysfunction. This corporate mentality has resulted in electricity systems that are now relatively low-cost but increasingly fragile. Puerto Rico, for example, is a simple case of underinvestment. The electric company, PREPA,  would have had to raise prices substantially to improve the network. If the UK had sufficient gas reserves in storage low wind conditions would not have been a big problem for power generation. But new construction and adequate gas reserves cost money. And UK regulators have worked heroically to keep down capital spending. The Europeans signed up voluntarily for Russian gas and nixed other projects. More pipelines serving their market meant paying the overhead on several competing gas transport lines which were not deemed economically efficient. As for Chinese and Indian utilities, having at least a 90-120 day coal inventory may become part of normal operations if one burns coal. But again all that adds substantially to costs.   Roughly four decades ago, neo-liberal economic principles were introduced to the electricity sector. The industry gradually changed from one dedicated to serving the public and encouraging economic development to one focusing instead on maximizing profits. Along the way, the political and regulatory systems seem to have become unusually obliging with respect to corporate interests as big money in US politics exerts its corrupting influence. Where will this lead? Well, sadly we don’t think it will lead to any serious evaluation of the structure of the electricity markets, or natural gas networks, or government policies that control them. Introspection or reflection about better utility arrangements takes time possibly even for trial and error. But our present system lurches from crisis to crisis. So where does that leave us, the electricity consumers? First, power users will try to disassociate themselves from increasingly expensive and unreliable networks. There are two reasons for this, reliability and price. As we wrote recently in reference to Entergy’s four- to six-week power outages following hurricane Ida, repeated outages of this duration are unacceptable in that it makes those regions both commercially disabled or even uninhabitable for protracted periods. We believe for this reason alone those who have the means will increasingly look for alternatives to the local power company. In addition, we’re also now witnessing rapid fuel price increases which are driving escalating electricity prices. Installing individual, non-fuel power generation and storage systems provide the energy user with long-term price stability. Once installed, a solar and battery storage system provides long-term price stability for the life of the system, possibly 20 or 30 years! This is a gigantic inflation hedge— although not looked at that way at present. In inflationary times self-generation permits power users to cap their (self-generated) rates for an extended period—a considerable benefit against a backdrop of volatile energy prices.  Lastly, we should mention the resurrection of nuclear power generation technologies both small-modular and gigawatt-scale. New and existing nuclear is heralded as the perfect low emissions, base load complement to intermittent wind or solar. It is relatively unaffected by the variabilities of nature and does not rely on fossil fuels with volatile prices. Nor need its fuel be imported from unfriendly nations which may suddenly turn off the “spigot” so to speak. As the notion of energy independence once again gains currency, widespread nuclear new-build may actually resume. But there is always something. The resumption of interest in new nukes is occurring against a backdrop of rampant price inflation. We will conclude by saying that the last time those two teamed up in the 1980s it wasn’t pretty.  Tyler Durden Thu, 10/07/2021 - 03:30.....»»

Category: blogSource: zerohedgeOct 7th, 2021

Exro: An Opportunity In Electrified Mobility

“We want to be the agnostic arms merchant to the fiber optic industry” – Kevin Kalkhoven of Uniphase to David Schneider in 1996 Q2 2021 hedge fund letters, conferences and more Investors seek similar situation for the electrified mobility industry Form Factors for Electrified Mobility Form factors include buses, motorcycles, snowmobiles, off-road vehicles/trucks from small […] “We want to be the agnostic arms merchant to the fiber optic industry” – Kevin Kalkhoven of Uniphase to David Schneider in 1996 .first{clear:both;margin-left:0}.one-third{width:31.034482758621%;float:left;margin-left:3.448275862069%}.two-thirds{width:65.51724137931%;float:left}form.ebook-styles .af-element input{border:0;border-radius:0;padding:8px}form.ebook-styles .af-element{width:220px;float:left}form.ebook-styles .af-element.buttonContainer{width:115px;float:left;margin-left: 6px;}form.ebook-styles .af-element.buttonContainer input.submit{width:115px;padding:10px 6px 8px;text-transform:uppercase;border-radius:0;border:0;font-size:15px}form.ebook-styles .af-body.af-standards input.submit{width:115px}form.ebook-styles .af-element.privacyPolicy{width:100%;font-size:12px;margin:10px auto 0}form.ebook-styles .af-element.privacyPolicy p{font-size:11px;margin-bottom:0}form.ebook-styles .af-body input.text{height:40px;padding:2px 10px !important} form.ebook-styles .error, form.ebook-styles #error { color:#d00; } form.ebook-styles .formfields h1, form.ebook-styles .formfields #mg-logo, form.ebook-styles .formfields #mg-footer { display: none; } form.ebook-styles .formfields { font-size: 12px; } form.ebook-styles .formfields p { margin: 4px 0; } Get The Full Ray Dalio Series in PDF Get the entire 10-part series on Ray Dalio in PDF. Save it to your desktop, read it on your tablet, or email to your colleagues (function($) {window.fnames = new Array(); window.ftypes = new Array();fnames[0]='EMAIL';ftypes[0]='email';}(jQuery));var $mcj = jQuery.noConflict(true); Q2 2021 hedge fund letters, conferences and more Investors seek similar situation for the electrified mobility industry Form Factors for Electrified Mobility Form factors include buses, motorcycles, snowmobiles, off-road vehicles/trucks from small to very large passenger vehicles and boats. Highlights of Company Capabilities Its technology advantages: Agnostic to battery chemistry, work for all segments (buses, RVs, motorcycles, snowmobiles, off-road vehicles/trucks and boats) Implementation can reduce number of parts in the vehicle, save money, reduce weight, improve reliability Increase efficiency of motor/battery system for better driving performance Increase miles per charge regardless of form factor $ content per vehicle correlates with size of vehicle Large and growing patent portfolio Implementation of their technology by one player in a segment would create a step function improvement in the vehicle, forcing competitors to adopt their technology or cobble together alternative Company Leadership – Pedigrees from GE Motor, International Rectifier, Siemens, Ballard Power, Ford, Audi, Volkswagen, GM, Vision Marine (electric boats) First commercial revenues likely early 2012 with motorcycle form factor First pure play creating an “ecosystem” of electrification subsystems that work together Company Financials Method for guesstimate of future numbers: Estimate gross profit per unit encompassing all form factors from electric bike to trucks Assume outsourced manufacturing for scale, subtract a high amount for corporate expenses, apply a tax rate and assume we are looking at 2025 Assume free cashflow = net income annually. * Far left column assumes units sold globally, company has enough cash for next 18 months Exro, A Pioneer In Mobile Electrification Exro Technologies Inc, traded in Canada as TSE:EXRO and bulletin board in US as OTCMKTS:EXROF with a market cap of US $310M The product is the coil-driver Its technology Continual optimization of the relationship between torque and speed of the motor Improves efficiency of the system to where in a multi-motor system a motor might be eliminated completely Replacement of moving parts with electronics reduces weight and increases reliability- perfect example :  Why the Porsche Taycan's Two-Speed Gearbox Is Such a Big Deal | WIRED Partnerships Land Motorcycles: for next generation models Zero Motorcycles: for next generation models (Zero is also partner of Polaris for next generation of Polaris electrified vehicles. Templar: Boating application Aurora Powertrains: Snowmobiles Clean Seed Capital: Farm Equipment Sea Electric: Fleet (truck) Vehicles Heinzmann: Auto, truck, e-bike motors Heinzmann is a tier 1 auto supplier Vicinity Motor: Buses Potencia Industrial (Mexico): Industrial and automotive Linimar Corp: Auto parts Advantages Of Exro Technologies From the point of zero motion to moving, you need torque As you get closer to cruising speed, the need for torque drops and you just need to maintain that speed. Encounter a hill, you need torque again. Exro has created a system that manages that relationship between torque and speed This optimizes torque and speed to maximize the efficiency of the motor, and in turn reduces the needs on the battery. Using the coil driver replacesmechanical parts, reduces weight of the vehicle, increases miles/charge, reduces cost Lighter vehicle = more range, better performance Because Exro reduces the cost of the finished product, they have a pricing umbrella that should give the company premium margins in an outsourced manufacturing model How Does The Coil Driver Work? The product consists of electronics in a box that is software driven. They change the coil configuration of the motor on the fly, with the inputs based on vehicle weight, grade of the road, and need for acceleration. The technology has the greatest impact on the largest vehicles and/or those dealing with a terrain such as hills and valleys, and situations with the biggest torque ranges. This makes sense, a reason why they are working with an ATV and snowmobile companies. Another great example for Exro technology is buses. The weight varies with number of passengers, lots of starts and stops, and have to navigate with slope and terrain. Garbage trucks and UPS type of delivery vehicles also. Additional Functionality Exro received new patents in July, 2021 for a new capability Electric vehicles (EVs) require 3 different types of power electronics to power the vehicle in motion and charge the batteries: A motor drive, on-board charger and external DC fast charger. The coil driver can replace all 3 components, reducing cost and complexity of deploying EV’s and simplifying the required infrastructure for charging. Just another example of reducing complexity of the vehicle, pulling out costs. Business Potential Business potential: No partner company has gotten an exclusive deal with EXRO – example they are working with 2 motorcycle companies (ZERO Motorcycles and Land Motorcycles). In an interview with CEO of Polaris (2’50” of the below link), he mentioned partnership with Zero Motorcycles. Anybody make the connection of where ZERO is getting their next generation technology from? Apparently not. Will It Sell? You are in the market for an electric car, boat, or motorcycle. You are having a tough time deciding between two brands, one with Exro, another without. With Exro inside, you realize: 20% more miles per charge, charge at home most of the time, fewer parts so more reliable. – clear competitive advantage. When the adoption of the technology gains traction which in my opinion will be mid 2022, investors won’t care if the hockey stick of revenue and earnings takes off in 2024 or even 2025. Hurdles To Adoption And Commercialization Coil Driver needs be perfectly connected to the motor, need to test, test, and test. New Kid on the block intersecting with big fish with “not invented here” syndrome. OEM’s and Tier 1 suppliers may have existing multi-year supplier deals that need to expire before introducing EXRO application First commercialization will be with nimbler OEM’s that produce motorcycle, off road vehicles. Established Automotive OEM’s due to supply chain logistics are already locking down model year ‘23, so even if an OEM signed with Exro tomorrow, earliest we would see Exro in a major brand vehicle would be ‘24 models. But, I would not be surprised to see a major name come onboard in the next 6-9 months. Investment Summary The elimination of heavy moving parts creates instant cost savings for an OEM. This translates to an increase in overall reliability, and should an issue arrive with the Exro component, it can be easily accessed and/or diagnosed electronically. In one video on YouTube, an electric bus company said they will be trialing EXRO at the end of this year and they expect a 20-30% increase in miles per charge. Lithium: With the world fixated on access to lithium and as the price of lithium increases, there will be more focus on optimizing the electrical system. As the lithium price rises, a technology that allows for fewer cells/battery pack should be welcomed. Charging Stations: Companies are building out recharging stations all over the world. Why not do it at home? With Exro built into the vehicle, you will be able to plug your vehicle into a regular 115v outlet. With the increased range of the vehicle between charges, you won’t need to go to an outside recharge station unless driving a very long distance. A great selling point for an automotive OEM. Company Financials 2025 *Far left column assumes units sold globally, company has enough cash for next 18 months Based on $662 million net income on 3 million units, 130 million shares = $5.09 in EPS. More conservatively cut it down to $4.00 in EPS, push it out to 2026 earnings. Current stock price = $2.25 and Exro has enough cash for 18-24 months. News of an OEM deal could move the decimal point on the stock price at which point I would hope they would issue 2-3 million new shares. That would be all they need until the cash starts to roll in. But Exro could get cash up front in signing a major OEM on a non-exclusive license deal, reducing the need for any equity offering. Battery Control System (BCS) Exro also has a Battery Control System for use when battery packs reach the end of their life. They optimize the batteries for use as energy storage systems. Energy storage system can be grid connected and/or used as a backup power supply for business and homes. They are targeting commercial launch is 2022. They are doing a demo at the North American Battery Show on 9/14 Incorporation of any upside from the BCS is icing on an already target rich cake. Updated on Sep 22, 2021, 9:51 pm (function() { var sc = document.createElement("script"); sc.type = "text/javascript"; sc.async = true;sc.src = "//mixi.media/data/js/95481.js"; sc.charset = "utf-8";var s = document.getElementsByTagName("script")[0]; s.parentNode.insertBefore(sc, s); }()); window._F20 = window._F20 || []; _F20.push({container: 'F20WidgetContainer', placement: '', count: 3}); _F20.push({finish: true});.....»»

Category: blogSource: valuewalkSep 22nd, 2021

Tesla Will Soon Report A Terrible Q2: Shortseller

Stanphyl Capital letter to investors for the month ended June 30, 2022, discussing their short thesis for Tesla Inc (NASDAQ:TSLA). Tesla’s Gigantic Money Furnaces Losing Billions Of Dollars In an interview released in June but conducted in late-May with a local Tesla fan club, Elon Musk called Tesla Inc (NASDAQ:TSLA)’s new German and Texas factories […] Stanphyl Capital letter to investors for the month ended June 30, 2022, discussing their short thesis for Tesla Inc (NASDAQ:TSLA). Tesla’s Gigantic Money Furnaces Losing Billions Of Dollars In an interview released in June but conducted in late-May with a local Tesla fan club, Elon Musk called Tesla Inc (NASDAQ:TSLA)’s new German and Texas factories “gigantic money furnaces losing billions of dollars.” Yet in the quarterly conference call just five weeks prior to that he implied things were going great at those factories… if (typeof jQuery == 'undefined') { document.write(''); } .first{clear:both;margin-left:0}.one-third{width:31.034482758621%;float:left;margin-left:3.448275862069%}.two-thirds{width:65.51724137931%;float:left}form.ebook-styles .af-element input{border:0;border-radius:0;padding:8px}form.ebook-styles .af-element{width:220px;float:left}form.ebook-styles .af-element.buttonContainer{width:115px;float:left;margin-left: 6px;}form.ebook-styles .af-element.buttonContainer input.submit{width:115px;padding:10px 6px 8px;text-transform:uppercase;border-radius:0;border:0;font-size:15px}form.ebook-styles .af-body.af-standards input.submit{width:115px}form.ebook-styles .af-element.privacyPolicy{width:100%;font-size:12px;margin:10px auto 0}form.ebook-styles .af-element.privacyPolicy p{font-size:11px;margin-bottom:0}form.ebook-styles .af-body input.text{height:40px;padding:2px 10px !important} form.ebook-styles .error, form.ebook-styles #error { color:#d00; } form.ebook-styles .formfields h1, form.ebook-styles .formfields #mg-logo, form.ebook-styles .formfields #mg-footer { display: none; } form.ebook-styles .formfields { font-size: 12px; } form.ebook-styles .formfields p { margin: 4px 0; } Get The Full Henry Singleton Series in PDF Get the entire 4-part series on Henry Singleton in PDF. Save it to your desktop, read it on your tablet, or email to your colleagues (function($) {window.fnames = new Array(); window.ftypes = new Array();fnames[0]='EMAIL';ftypes[0]='email';}(jQuery));var $mcj = jQuery.noConflict(true); Q1 2022 hedge fund letters, conferences and more So, as Zach said, we remain confident of a 50% growth in vehicle production in 2022 versus ‘21. I think, we actually have a reasonable shot at a 60% increase over last year. So, let’s see. Obviously, we ramped production, as you will know, with Giga Berlin and Giga Texas in the past few months. So, with two fantastic factories with great teams, and they are ramping rapidly. Now, with new factories, the initial ramp always looks small, but it grows exponentially. So, I have very high confidence in the teams of both factories. And we expect to ramp those initially slowly, but like I said, growing exponentially with them achieving high volume by the end of this year. …and then proceeded to almost immediately dump billions of dollars in TSLA stock. Back when this country had an SEC that prioritized “corporate fraud” over nonsensical crap such as “climate change disclosures” it might have taken a look at this, but under Trump and now Biden the SEC has become one of the most useless agencies in Washington, which is quite an accomplishment considering its competition! We also learned in June that Tesla only fulfilled its obligation to report a series of serious Autopilot accidents to the NHTSA after the NHTSA had already learned about them. Elon Musk remains the most vile person ever to head a large-cap U.S. public company, and we remain short Tesla, the biggest bubble-stock in modern market history, because: It has a flat-to-sliding share of the world’s EV market and a share of the overall auto market that’s only around 1.5%, yet a market cap greater than the next 9 largest automakers (by market cap) combined despite selling fewer than 3% of the cars they do. It has no “moat” of any kind; i.e., nothing meaningfully proprietary in terms of its electric car technology (which has now been equaled or surpassed by numerous competitors), while existing automakers—unlike Tesla­—have a decades-long “experience moat” of knowing how to mass-produce, distribute and service high-quality cars consistently and profitably. Meanwhile, its previously proprietary Superchargers are being opened to everyone. Excluding working capital benefits and sunsetting emission credit sales Tesla generates only minimal free cash flow. Growth in sequential unit demand for Tesla’s cars is at a crawl relative to expectations. Elon Musk is a pathological liar. A Terrible Q2 Tesla will soon report a terrible Q2 (even before accounting for a roughly $500 million Bitcoin write-down), with deliveries down substantially from Q1, which itself showed no growth over Q4. However, Q2’s decrease was due to a monthlong COVID-related closing of Tesla’s Shanghai factory, and thus it might be a while yet before we can get a “clean” demand picture for the company. Regardless, Tesla has objectively lost its “product edge,” with many competing cars now offering comparable or better real-world range, better interiors, similar or faster charging speeds and much better quality. (Tesla ranks second-to-last in Consumer Reports’ reliability survey while British consumer organization Which? found it to be one of the least reliable cars in existence.) Thus, due to competitors’ temporary production constraints, waiting times are now longer for many of Tesla’s direct EV competitors than they are for a Tesla. (Here’s one example, and here’s another.) In fact, Tesla is now the second, third or fourth choice for many EV buyers, and only maintains its volume lead though a short-lived edge in production capacity that will disappear over the next 12 to 36 months as competitors rapidly increase the ability to produce their superior EVs. In fact, Tesla’s poorly-built Model Y faces current (or imminent) competition from the much better made (and often just better) electric Hyundai Ioniq 5, Kia EV6, Ford Mustang Mach E, Cadillac Lyriq, Nissan Ariya, Audi Q4 e-tron, BMW iX3, Mercedes EQB, Volvo XC40 Recharge and Polestar 3. And Tesla’s Model 3 now has terrific direct “sedan competition” from Volvo’s beautiful Polestar 2, the great new BMW i4, the upcoming Hyundai Ioniq 6 and Volkswagen Aero, and multiple local competitors in China—here, from Snowbull Capital’s @TaylorOgan, is just one example of that Chinese competition: And in the high-end electric car segment worldwide the Porsche Taycan (the base model of which is now considerably less expensive than Tesla’s Model S) outsells the Model S, while the spectacular new Mercedes EQS, Audi e-Tron GT and Lucid Air make it look like a fast Yugo, and the extremely well reviewed new BMW iX and Mercedes EQS SUV do the same to the Model X. The worst thing that can possibly happen to “the Tesla story” will be when its German and Texas plants are fully operational and the subsequent excess capacity stares the world right in the face, thereby ending its myth of “unlimited demand” (especially at current, drastically-raised prices, where the cheapest Model 3 now starts at $47,000 and the cheapest Model Y begins at $66,000); in fact, look for margin-destroying price cuts by late this year or early 2023. Tesla Is Netflix Indeed, for years I’ve said “Tesla is Blackberry”—the maker of a first-generation version of a product that—once the market was proven—would be supplanted into niche obscurity by newer, better versions; now I can provide a much more recent analogy: Tesla is Netflix. For years Netflix had an absurd valuation based on its pioneering position in streaming media, but once it proved that such a market existed myriad competitors swarmed all over it, and in April the stock collapsed when we learned that not only is Netflix no longer in “hypergrowth” mode but for the first time since 2011 (when it transitioned from physical DVDs) it actually lost subscribers. I believe Musk knows that Tesla is “the next Netflix” (hence his recent “Twitter buying distraction”), with VW, Hyundai/Kia, Ford, GM, BMW, Mercedes, BYD & other Chinese competitors and, in a few years, Toyota & Honda, being the Disney, HBO Max, Amazon Prime, Peacock, Hulu, Paramount +, etc., of the electric car market, stealing Tesla’s share and eventually pounding its stock price down 95% or so from today’s, into the valuation of “just another car company.” Meanwhile, in June the NHTSA announced that its investigation of Tesla’s deadly Autopilot has expanded into “an engineering analysis,” the last required step before (finally!) demanding a full recall. The refund liability potential for Tesla for this is in the billions of dollars, and possibly even the tens of billions if a class action lawsuit proves that the cars involved were purchased solely due to the (fallacious) promise of “full self-driving.” And, of course, there will be a massive “valuation reappraisal” for Tesla’s stock as the world wakes up to the fact that Tesla’s so-called “autonomy technology” is just trailing-edge garbage. Also in June the NHTSA released some raw data about driver assistance system crashes, and over 70% of them involved Teslas. (For all Tesla deaths cited in the media—which is likely only a small fraction of those that have occurred—see TeslaDeaths.com.) Also interesting is that—unlike for other systems—in the vast majority of cases the Autopilot Teslas hit something rather than “were hit,” as was the case for more advanced systems (Level 4). And Tesla has sold this trashy software for over five years now: …and still promotes it on its website via a completely fraudulent video! Meanwhile, the “record” profits that accompanied Q1’s nearly flat delivery number were obtained via myriad one-time items, including $679 million of emission credit sales that will disappear over the next year or two as every automaker ramps up its EV sales, a mysterious $502 million reduction in SG&A expense (of which only $140 million was due to reduced stock comp) despite opening new factories in Germany and Texas (what is Tesla capitalizing instead of expensing???) and a combination of FIFO accounting and multiple sticker price increases that allowed Tesla to expense rapidly rising raw materials costs at older, lower prices while selling cars built from those materials at new, considerably higher prices. And, as cited here previously, Tesla practices consistently fraudulent warranty accounting. Adjusting for these factors, Tesla had GAAP earnings for the quarter that were at least $1/share lower than the posted $2.86, and annualizing that realistic $1.86/share to $7.44 means that at June’s closing price Tesla (on a no-growth quarter) had a PE ratio of around 90 vs. an industry-wide figure in the mid-single digits. Meanwhile, excluding growth in net payables and $993 million in sunsetting emission credit sales, Tesla’s free cash for Q1 2022 and Q4 2021 combined was just $950 million, which annualizes to only around $1.9 billion*. A 15x multiple on this (roughly a 100% premium to BMW’s multiple) would make TSLA stock worth only around $28/share! *And I’m not even backing out Tesla’s massively dilutive stock comp An Energy Company And for those of you who think that Tesla is “really an energy company,” in Q1 “Tesla Energy” had revenue of just $616 million (down 10.5% sequentially) and cost of revenue of $688 million, meaning it had a negative gross margin. So if Tesla is “really an energy company,” it’s even more screwed than if it’s just a car company! Meanwhile, many Tesla bulls sincerely believe that ten years from now the company will be twice the size of Volkswagen or Toyota, thereby selling around 20 million cars a year (up from the current run-rate of around 1.3 million); in fact in March Musk himself even raised this as a possibility. To illustrate how utterly absurd this is, going from 1.3 million cars a year today to 20 million in ten years means that in addition to one million cars a year of eventual production from the new German and Texas factories, Tesla would have to add 35 more brand new 500,000 car/year factories with sold out production; i.e., a new factory nearly every single quarter for ten years! Another favorite hype story from Tesla bulls has been “the China market,” but Tesla’s Q1 2022 domestic China sales sequentially declined by approximately 8000 units vs. Q4 2021, and it had only around 1.9% of the overall Chinese passenger vehicle market and has flatlined at only around 10% of the BEV market. In other words, “Tesla China” is no longer “a growth story”: Another favorite Tesla hype story has been built around so-called “proprietary battery technology.” In fact though, Tesla has nothing proprietary there—it doesn’t make them, it buys them from Panasonic, CATL and LG, and it’s the biggest liar in the industry regarding the real-world range of its cars. And if new-format 4680 cells enter the market some time in 2024 (as is now expected), even if Tesla makes some of its own,  other manufacturers will gladly sell them to anyone. And oh, the joke of a “pickup truck” Tesla previewed in 2019 (and still hasn’t shown in production-ready form) won’t be much of “growth engine” either, as it will enter a dogfight of a market; in fact, Ford’s terrific 2022 all-electric F-150 Lightning now has over 200,000 retail reservations (plus many more fleet reservations), GM has introduced its fantastic 2023 electric Silverado which already has nearly 200,000 reservations and Rivian’s pick-up has gotten excellent early reviews. Regarding safety, as noted earlier in this letter, Tesla continues to deceptively sell its hugely dangerous so-called “Autopilot” system, which Consumer Reports has completely eviscerated; God only knows how many more people this monstrosity unleashed on public roads will kill despite the NTSB condemning it. Elsewhere in safety, the Chinese government forced the recall of tens of thousands of Teslas for a dangerous suspension defect the company spent years trying to cover up, and now Tesla has been hit by a class-action lawsuit in the U.S. for the same defect. Tesla also knowingly sold cars that it knew were a fire hazard and did the same with solar systems, and after initially refusing to do so voluntarily, it was forced to recall a dangerously defective touchscreen. In other words, when it comes to the safety of customers and innocent bystanders, Tesla is truly one of the most vile companies on Earth. Meanwhile the massive number of lawsuits of all types against the company continues to escalate. So Here Is Tesla’s Competition In Cars... (note: these links are regularly updated) Porsche Taycan Porsche Taycan Cross Turismo Porsche Macan Electric SUV Officially Coming in 2023 Volkswagen ID.3 Volkswagen ID.4 Electric SUV Volkswagen unveils ID.6 SUV EV in China Volkswagen ID.Buzz Electric Van Volkswagen unveils the ID. AERO sedan with 385 miles of range New sketch of 2025 Volkswagen ID.1 unveiled VW’s Cupra Born Volkswagen unveils $7.1B commitment to boost product line-up, R&D, mfg in N. America Audi e-tron Audi e-tron Sportback Audi E-tron GT Audi Q4 e-tron Audi Q6 e-tron confirmed for 2022 launch 2022 Audi A6 e-tron set to take on Tesla Audi will expand EV lineup with electric A6 wagon Audi TT to be axed in 2023 for 'emotional', electric replacement Hyundai Ioniq 5 Hyundai Ioniq 6 Will Be a Slick-Looking EV Sedan Hyundai Kona Electric Genesis reveals their first EV on the E-GMP platform, the electric GV60 crossover Genesis Electrified GV70 Revealed With 483 Horsepower And AWD Kia Niro Electric: 239-mile range & $39,000 before subsidies Kia EV6: Charging towards the future Kia EV9 to land in US in 2023 with 300-miles range, $50,000 price Kia EV4 on course to grow electric SUV range Jaguar’s All-Electric i-Pace Jaguar to become all-electric brand; Land Rover to Get 6 electric models Daimler will invest more than $47B in EVs and be all-electric ready by 2030 Mercedes EQS: the first electric vehicle in the luxury class 2023 Mercedes EQS SUV Is a Seven-Seat EV Flagship with up to 536 HP 2023 Mercedes EQE Electric Sedan Mercedes EQE SUV to rival BMW iX and Tesla Model X Mercedes EQC electric SUV available now in Europe & China Mercedes-Benz Launches the EQV, its First Fully-Electric Passenger Van Mercedes-Benz EQB Makes Its European Debut, US Sales Confirmed Mercedes-Benz unveils EQA electric SUV with 265 miles of range and ~$46,000 price Ford Mustang Mach-E Available Now Ford F-150 Lightning electric pick-up available 2022 Ford set to launch ‘mini Mustang Mach-E’ electric SUV in 2023 Ford to launch 7 EVs in Europe in big electric push Ford unveils Lincoln Star electric SUV concept as it readies to add four new EVs by 2026 Polestar 2 sedan Polestar 3 SUV With 372-Mile Range Coming Late 2022 Volvo XC40 Recharge Volvo C40 Recharge Chevrolet Bolt sedan, 259-mile range starting at $31,000 Chevrolet Bolt EUV electric crossover Cadillac All-Electric Lyriq Available Spring 2022 GMC 2022 ALL-ELECTRIC SUPERTRUCK HUMMER EV GM’s 2023 electric Silverado pickup truck GMC to launch electric Hummer SUV in 2023 2023 Chevrolet Blazer EV primed to take on Tesla Model Y GM Launches BrightDrop to Electrify the Delivery of Goods and Services GM & Honda Will Codevelop Affordable EVs Targeting Most Popular Vehicle Segments Honda pours $40 billion into electrification, targets 2 million EV production by 2030 Honda and Sony finalize 50-50 joint venture to build EVs in 2025 BMW leads off EV offensive with iX3 BMW expands EV offerings with iX tech flagship and i4 sedan BMW i7 EV, with 600 hp, will be most powerful variant of new 7 Series flagship BMW iX1 Revealed With 313 HP, 272 Miles WLTP Range Renault-Nissan alliance plows $26B into EV blitz- will jointly launch 35 new EVs Nissan vows to hop back on EV podium with Ariya Nissan LEAF e+ with 226-mile range is available now Nissan Unveils $18 Billion Electric-Vehicle Strategy Renault upgrades Zoe electric car as competition intensifies Renault Dacia Spring Electric SUV Renault to boost low-volume Alpine brand with 3 EVs Renault's electric Megane will debut new digital cockpit Stellantis promises 'heart-of-the-market SUV' from new, 8-vehicle EV platform Chrysler to go all-EV by 2028 Alfa Romeo's First Electric Car Will Arrive in 2024 Peugeot e-208 PEUGEOT E-2008: THE ELECTRIC AND VERSATILE SUV Peugeot 308 will get full-electric version Subaru shows off its first electric vehicle, the Solterra SUV Citroen compact EV challenges VW ID3 on price Rivian R1T Is the Most Remarkable Pickup We’ve Ever Driven Maserati going fully electric by 2030 -all vehicles will offer a BEV version by 2025 Mini Cooper SE Electric Toyota’s Electric bZ4X Goes On Sale in Spring 2022 Toyota will have lineup of 30 full EVs by 2030; Lexus will be all-electric brand Honda and Sony to build, sell EVs by 2025 Opel sees electric Corsa as key EV entry 2021 Vauxhall Mokka revealed as EV with sharp looks, massive changes Skoda Enyaq iV electric SUV offers range of power, battery sizes Electric Skoda Enyaq coupe to muscle-in on Tesla Model 3 Skoda plans small EV, cheaper variants to take on French, Korean rivals Nio to launch in five more European countries after Norway BYD will launch electric SUV in Europe The Lucid Air Achieves an Estimated EPA Range of 517 Miles on a Single Charge Bentley will start output of first full EV in 2025 All-electric Rolls-Royce Spectre to launch in 2023 – firm to be EV-only by 2030 Aston Martin will build electric vehicles in UK from 2025 Meet the Canoo, a Subscription-Only EV Pod Coming in 2021 Two new electric cars from Mahindra in India; Global Tesla rival e-car soon Former Saab factory gets new life building solar-powered Sono Sion electric cars Foxconn aims for 10% of electric car platform market by 2025 And In China, Where Tesla’s EV Market Share Is Stuck At 10% And Not Growing… BYD is #1 in Chinese EVs, selling FAR more than Tesla Volkswagen to boost Chinese EV capacity to 1m by 2023 Audi-FAW's $3.3 billion electric vehicle venture Nio Xpeng Motors Hozon/Neta Li Auto GAC Aion Leap Motors GM launches Ultium EV production platform in China Ford Mustang Mach-E Rolls Off Assembly Line in China Cheaper than Tesla: Honda takes aim at China's middle class BMW i3 Debuts As All-Electric 3 Series Only For China Hongqi Geely Zeekr Premium EVs by Geely Baidu and Geely put nearly $400 million more into their electric car venture Mercedes-Benz Said To Build EV In China From 2024 BAIC Hyundai, BAIC Motor to inject $942 mn in China JV for EVs Toyota partners with BYD to build affordable $30,000 electric car Lexus RZ 450e Steers For China Dongfeng SAIC Renault launches sales of first EV in China Nissan expects 40% of sales in China to be electrified by 2026 Changan forms subsidiary Avatar Technology to develop smart EVs with Huawei, CATL WM Motors/Weimar Chery Seres Enovate Singulato JAC Motors Iconiq Motors Aiways Skyworth Auto Youxia Human Horizons Xiaomi announces plans for four electric vehicle models Here's Tesla's Competition In Autonomous Driving; The Independents All Have Deals With Major OEMs… Waymo ranked top & Tesla last in Guidehouse leaderboard on automated driving systems Tesla has a self-driving strategy other companies abandoned years ago Waymo operates robotaxis NOW GM’s Cruise operates robotaxis NOW Argo AI (owned by Ford & VW) Begins Driverless Vehicle Operations in Miami & Austin Mobileye operates driverless test fleets in Europe and the U.S. Cadillac Super Cruise Sets the Standard for Hands-Free Highway Driving Ford’s hands-free “Blue Cruise” Mercedes Launches SAE Level 3 Drive Pilot System Honda Legend Sedan with Level 3 Autonomy Now Available in Japan Hyundai + Motional Bringing IONIQ 5 robotaxis to the streets from 2023 Amazon’s Zoox will test its autonomous vehicles on Seattle’s rainy streets Baidu Apollo’s autonomous driving service is now inclusive to all the megacities in China Alibaba-backed AutoX unveils first driverless RoboTaxi production line in China Pony.ai approved for public driverless robotaxi service in Beijing Here's Where Tesla's Competition Will Get Its Battery Cells... Panasonic (making deals with multiple automakers) LG Samsung SK Innovation Toshiba CATL BYD Northvolt Volkswagen to Build Six Electric-Vehicle Battery Factories in Europe GM’s Ultium GM to develop lithium-metal batteries with SolidEnergy Systems Ford, SK Innovation announce EV battery joint venture BMW & Ford Invest in Solid Power to Secure All Solid-State Batteries for Future Electric Vehicles Stellantis affirms commitment to build battery factory in Italy with Mercedes, TotalEnergies Stellantis and Samsung SDI to Invest Over $2.5B in Battery Production Plant in United States Stellantis and LG to Invest Over $5 Billion CAD in Joint Venture for Li-Ion Battery Plant in Canada Stellantis and Factorial Energy to Jointly Develop Solid-State Batteries for Electric Vehicles Mercedes-Benz to build 8 battery factories in push to become electric-only automaker Mercedes-Benz and Sila achieve breakthrough with high silicon automotive battery Toyota to build plant in N.C. capable of making up to 1.2M batteries a year Toyota Outlines Solid-State Battery Tech, $13.6 Billion Investment Nissan Announces Proprietary Solid-State Batteries Daimler joins Stellantis as partner in European battery cell venture ACC Renault signs EV battery deals with Envision, Verkor for French plants Nissan to build $1.4bn EV battery plant in UK with Chinese partner UK companies AMTE Power and Britishvolt plan $4.9 billion investment in battery plants Foxconn breaks ground on first EV battery plant Freyr Verkor Farasis Microvast Akasol Cenat Wanxiang Eve Energy Svolt Romeo Power ProLogium Hyundai Motor developing solid-state EV batteries Morrow Here's Tesla's Competition In Charging Networks... Infrastructure Bill: $7.5 billion Towards Nationwide Network of 500,000 EV Chargers Electrify America EVgo Chargepoint Ionity Europe Shell 51 U.S. electric companies commit to build nationwide EV fast charging network by end of 2023 GM to Expand Access to EV Charging with More than 40,000 Charging Stations Volkswagen powers up the grid to take on Tesla Circle K begins North American EV fast charger rollout, plans 200-site network by 2024 Porsche to build out its own network of EV charging stations Petro-Canada Coast-to-Coast Canadian Charging Network Volta E.On BP Volkswagen and BP partner to deploy up to 8,000 EV chargers across EU/UK Smatric Allego Podpoint Instavolt Fastned Total Nio Battery Swap Stations BMW to Build 360,000 Charging Points in China to Juice Electric Car Sales Evie And here’s Tesla’s competition in storage batteries… Panasonic Samsung LG Energy Solutions CATL BYD AES + Siemens (Fluence) GE Hitachi ABB Toshiba Saft Johnson Contols EnerSys SOLARWATT Sonnen Generac Kokam Eaton Tesvolt Leclanche Lockheed Martin Honeywell EOS Energy Storage ESS Electriq Power Redflow Primus Power Simpliphi Power Invinity Murata Bollore Adara Blue Planet Aggreko Orison Powin Energy Nidec Powervault Kore Power Shanghai Electric LithiumWerks Natron Energy Energy Vault Ambri Voltstorage Cadenza Innovation Morrow Gridtential Villara Elestor SolarEdge Q-Cells Huawei Toyota ADS-TEC Form Energy Enphase Sumitomo Electric Stryten Energy Freyr Growatt Polarium Thanks, Mark Spiegel Updated on Jul 1, 2022, 10:56 am (function() { var sc = document.createElement("script"); sc.type = "text/javascript"; sc.async = true;sc.src = "//mixi.media/data/js/95481.js"; sc.charset = "utf-8";var s = document.getElementsByTagName("script")[0]; s.parentNode.insertBefore(sc, s); }()); window._F20 = window._F20 || []; _F20.push({container: 'F20WidgetContainer', placement: '', count: 3}); _F20.push({finish: true});.....»»

Category: blogSource: valuewalkJul 1st, 2022

Enphase (ENPH) Sees Increased Product Deployments in New Mexico

Enphase (ENPH) holds solid growth opportunities in New Mexico wherein residential battery capacity is projected to grow nearly eight-fold by the end of 2026. Enphase Energy, Inc. ENPH has been witnessing increased deployments of Enphase Energy Systems in New Mexico, thanks to the growing demand for energy storage products as the state anticipates a brutal heatwave this year.This should further boost Enphase’s revenues from the United States in 2022, wherein the solar player recorded solid 74% year-over-year revenue growth last year. What’s Driving Increased Deployments in New Mexico?Extreme weather conditions across the United States have been disrupting electric grids, thereby leading to more power outages than usual on numerous occasions. This, in turn, has led to increased homeowner interest in solar and battery systems. The state of New Mexico is expecting extreme heat this summer that may hit grid reliability.Homeowners in New Mexico can now install Enphase’s revolutionary IQ8 Microinverters, which provide an impressive backup system during an outage, even in the absence of a battery.No doubt these factors must have boosted the demand for energy storage systems like Enphase Energy System, which is a complete solar solution, comprising the company’s IQ Microinverters and IQ Batteries.Enphase’s Prospects in New MexicoIn 2021, renewable resources provided the largest share of in-state electricity generation for New Mexico, at almost two-fifths. Power from renewable energy has more than doubled since 2017, both in megawatt-hours and in the share of total generation. In 2019, New Mexico revised its 2004 renewable portfolio standard (RPS) and increased the state's required renewable energy targets to go carbon-free by 2045. These have set the stage for energy storage demand in the state.As multifaceted impacts of global warming are projected to create more frequent irregularities in weather patterns around the world, energy storage demand is expected to increase manifold in the coming years.Per the U.S. Energy Storage Monitor report from the Energy Storage Association and Wood Mackenzie, residential battery capacity in New Mexico is projected to grow nearly eight-fold by the end of 2026. Such a forecast exemplifies immense growth opportunities for ENPH to prosper on growing demand with its best-in-class battery storage systems and customer experience.U.S. Battery Storage BoomPer the U.S. Energy Information Administration, the United States is likely to witness an addition of 10,000 megawatts of large-scale battery storage projects to be installed between 2021 and 2023.Such compelling growth projections for the U.S. battery storage market embody indicate opportunities for companies like Enphase Energy. Prominent solar players like SolarEdge Technologies SEDG, SunRun RUN and SunPower SPWR have also capitalized on the bright prospects of the U.S. battery storage market with their product range.For instance, SolarEdge’s StorEdge battery storage system helps meet energy demands with less or cheaper electricity. The company strengthened its presence in the United States by launching its SolarEdge Energy Bank residential battery and SolarEdge Energy Hub inverter with enhanced backup power, in October 2021.The long-term earnings growth rate of SolarEdge stands at 28.6%. The Zacks Consensus Estimate for SEDG’s 2022 sales implies an improvement of 54% over the prior-year estimated figure.SunRun’s Bright Box battery storage system offers the flexibility to generate, store and manage clean, affordable solar energy. Brightbox can buffer homeowners from increasing energy costs so that they have power when they need it the most, thus enabling homeowners to take charge of their electric bills and get control of energy needs now and in the future.The Zacks Consensus Estimate for RUN’s 2022 sales indicates an improvement of 21.9% over the prior-year reported figure.SunPower’s Equinox system with SunVault Storage solution offers an effective storage solution to homeowners by collecting excess energy in the daytime and distributing it as needed to power essential devices during an outage. In March 2022, the company signed a deal, as part of which its Equinox home solar system will be deployed in all new houses built by Landsea in California, while home buyers in Arizona, Florida and Texas will also have the option to add the technology to their properties.The Zacks Consensus Estimate for SunPower’s 2022 earnings suggests an improvement of 457.1% over the past year’s reported number. The long-term earnings growth rate for SPWR stands at 15.6%.Price MovementIn the past year, shares of Enphase Energy have risen 14.4% against the industry’s 26.6% decline.Image Source: Zacks Investment ResearchZacks RankEnphase Energy currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here. 7 Best Stocks for the Next 30 Days Just released: Experts distill 7 elite stocks from the current list of 220 Zacks Rank #1 Strong Buys. They deem these tickers "Most Likely for Early Price Pops." Since 1988, the full list has beaten the market more than 2X over with an average gain of +25.4% per year. So be sure to give these hand-picked 7 your immediate attention. See them now >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report SunPower Corporation (SPWR): Free Stock Analysis Report Enphase Energy, Inc. (ENPH): Free Stock Analysis Report SolarEdge Technologies, Inc. (SEDG): Free Stock Analysis Report Sunrun Inc. (RUN): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research.....»»

Category: topSource: zacksJun 24th, 2022

Enphase (ENPH) Energy System Demand Ramps Up in New York

The demand for Enphase Energy's (ENPH) Energy System, powered by IQ8 Microinverters and IQ Batteries, augments in New York amid the approaching summer season. Enphase Energy, Inc.ENPH recently revealed that the demand for its Enphase Energy Systems, powered by IQ8 Microinverters and IQ Batteries, has ramped up in New York as homeowners hunt for reliable backup power amid the approaching summer season and resultant heat waves.To this end, it is imperative to mention that extreme weather conditions disrupt the proper functionality of the grid and thus tend to fuel the demand for resilient and sustainable backup power. In this context, Enphase products are uniquely designed to meet such energy independence demands.Consequently, its products witness pent-up demand in areas that are prone to natural disasters and other extreme conditions, which stress the grid. The current intensified demand in New York is a testament to the fact.Can Enphase Products Demand be Sustained in New York?The demand for electricity on hot summer days in New York is at its peak, which strains the grid and leads to prolonged power outages. In such a scenario, ENPH may continue to capitalize on the growing demand as its products aim at boosting the usage of the battery storage solution during peak hours to reduce dependence on the grid and aid its proper functioning when energy usage is at the highest.Moreover, going forward, the residential battery capacity in New York is likely to augment by nearly fivefold by the end of 2026, per the report from U.S. Energy Storage Monitor and Wood Mackenzie.Against this backdrop, Enphase’s IQ8 Microinverter that offers distinctive advantages to users and is the first in the world to be certified by UL, a global safety science leader, is likely to witness further increased deployment in a region that boasts such a capacity expansion in the battery storage market.Battery Storage Market Prospects in the USThe elevating utility prices, along with an increased focus of homeowners on becoming energy independent to dodge away from the grid going dark circumstances, are some of the factors that are primarily propelling the growth of the U.S. battery storage market. This is eventually benefiting companies like Enphase, which already enjoy a strong position as a leading U.S. manufacturer of microinverters and battery storage systems.Per the report from Grand View Research, the U.S. battery storage market is expected to witness a CAGR of 23.9% over the 2020-2027 period.Such growth projections entail immense prospects for solar companies in the United States like Enphase, SolarEdge Technologies SEDG, SunRun RUN and SunPower SPWR to reap the multitude of gains and prosper in the expanding battery storage market.SolarEdge’s StorEdge battery storage system helps meet energy demands with less or cheaper electricity. In 2021, the company strengthened its presence in the United States by launching its SolarEdge Energy Bank residential battery and SolarEdge Energy Hub inverter with enhanced backup power.SolarEdgeboasts a long-term earnings growth rate of 28.5%. SEDG shares have appreciated 6.8% in the past year.SunRun’s BrightBox battery storage system offers the flexibility to generate, store and manage clean, affordable solar energy. BrightBox can buffer homeowners from increasing energy costs so that they have power when they need it the most, thus enabling homeowners to take charge of their electric bills and get control of energy needs now and in the future.The Zacks Consensus Estimate for SunRun’s 2022 sales indicates a growth rate of 19.6% from the prior-year reported figure. RUN shares have rallied 0.5% in the past month.SunPower’s Equinox system with the SunVault Storage solution offers an effective storage solution to homeowners by collecting excess energy in the daytime and distributing it as needed to power essential devices during an outage, thus reducing reliance on grid electricity. This also reduces peak-time charges.The Zacks Consensus Estimate for SunPower’s 2022 earnings is pegged at 36 cents per share, which implies a growth rate of a solid 414.3% from the prior-year reported figure. SPWR shares have rallied 4.3% in the past month.Price PerformanceIn the past year, shares of Enphase have surged 13.5% against the industry’s decline of 24.6%.Image Source: Zacks Investment ResearchZacks RankEnphase currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here. 5 Stocks Set to Double Each was handpicked by a Zacks expert as the #1 favorite stock to gain +100% or more in 2021. Previous recommendations have soared +143.0%, +175.9%, +498.3% and +673.0%. Most of the stocks in this report are flying under Wall Street radar, which provides a great opportunity to get in on the ground floor.Today, See These 5 Potential Home Runs >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report SunPower Corporation (SPWR): Free Stock Analysis Report Enphase Energy, Inc. (ENPH): Free Stock Analysis Report SolarEdge Technologies, Inc. (SEDG): Free Stock Analysis Report Sunrun Inc. (RUN): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research.....»»

Category: topSource: zacksJun 22nd, 2022

2 Top Electronics Stocks to Buy From a Prospering Industry

The Zacks Electronics - Manufacturing Machinery industry participants, Kulicke and Soffa Industries (KLIC) and Axcelis Technologies (ACLS), are benefiting from increased capital spending on high-performance computing, advanced packaging and memory. The Zacks Electronics - Manufacturing Machinery industry is benefiting from increased capital spending on high-performance computing, artificial intelligence, advanced packaging and memory by semiconductor manufacturers. The rising need for data center, notebooks (due to coronavirus-induced remote working and learning) and gaming (pandemic-induced demand) are driving memory demand. Kulicke and Soffa Industries KLIC and Axcelis Technologies ACLS are gaining from the above-mentioned trends.These companies provide solutions to semiconductor manufacturers and OEMs. Although weak smartphone demand has been a concern, strength in cloud & data center, healthcare solutions and gaming has been a key catalyst.Industry DescriptionThe Zacks Electronics - Manufacturing Machinery industry comprises companies that provide a range of solutions to address the needs of wafer processing facilities as well as device packaging and test facilities of semiconductor manufacturing processes.The solutions offered by the industry participants include thin-film processing systems, photonics, process control tools (that perform macro defect inspections and metrology), metal organic chemical vapor deposition, advanced packaging lithography, wet etch and clean, laser annealing, and 3D wafer inspection systems.A few industry participants also offer microcontamination control products and advanced materials handling solutions. Notably, contamination-free transportation, storage and delivery of materials have gained immense significance in recent times.3 Trends Shaping the Future of the Electronics IndustryMiniaturization Enhances Prospects: Industry participants are benefiting from the ongoing transition in semiconductor manufacturing technology. The demand for advanced packaging that enables the miniaturization of electronic products remains strong. The consistent shift to smaller dimensions andthe rapid adoption of new device architecture like FinFET transistors and 3D-NAND, along with increasing utilization of new manufacturing materials to increase transistor and bit density, are driving demand for solutions provided by the industry players. Moreover, the emergence of techniques like wafer level packaging is driving the need for a high-purity manufacturing environment free of contaminants. The rising demand for clean processing as well as wafer carrier cleaning and conditioning tools is a key catalyst for the industry participants.Complex Process Driving Demand: The requirement of faster, more powerful and more energy-efficient semiconductors is expected to increase rapidly on the robust adoption of cloud computing, IoT and AI. Semiconductor manufacturers like Intel, Samsung, Taiwan Semiconductors are primarily looking to maximize manufacturing yields at lower costs. This is actually making semiconductor manufacturing processes more complex and in turn driving demand for solutions offered by the industry participants. The rapid adoption of IoT-supported factory automation solutions is also a contributing factor. Further, increasing deployment of 5G and the growing demand for edge computing are the key catalysts.Strong NAND, DRAM & SSD Demand: The improving demand for NAND and DRAM is a positive for the industry participants. Moreover, strong SSD demand driven by data center and cloud spending is a key catalyst. DRAM is also expected to benefit from strong demand in the data center, enterprise and cloud segments. Strong demand for chip and higher spending on semiconductor capital equipment is aiding industry participants.Zacks Industry Rank Indicates Solid ProspectsThe Zacks Electronics - Manufacturing Machinery industry is housed within the broader Zacks Computer and Technology sector. It carries a Zacks Industry Rank #94, which places it in the top 37% of more than 250 Zacks industries.The group’s Zacks Industry Rank, which is basically the average of the Zacks Rank of all member stocks, indicates robust near-term prospects. Our research shows that the top 50% of Zacks-ranked industries outperforms the bottom 50% by a factor of more than two to one.The industry’s position in the top 50% of the Zacks-ranked industries is a result of positive earnings outlook for the constituent companies in aggregate. Looking at the aggregate earnings estimate revisions, it appears that analysts are optimistic about this group’s earnings growth potential. Since Jun 30, 2021, the industry’s earnings estimate for the current year has increased by 15.3%.Before we present a couple of stocks that you may want to consider for your portfolio, let’s take a look at the industry’s recent stock-market performance and valuation picture.Industry Outperforms Sector, Lags S&P 500The Zacks Electronics - Manufacturing Machinery industry has outperformed the broader Zacks Computer and Technology sector but has been lagging the S&P 500 composite over the past year.The industry has declined 27.9% over this period compared with the S&P 500’s fall of 14.1% and the broader sector’s decrease of 28.7%.One-Year Price PerformanceIndustry's Current Valuation On the basis of the trailing 12-month EV/EBITDA ratio, which is a commonly used multiple for valuing Electronics - Manufacturing Machinery companies, we see that the industry is currently trading at 8.10X compared with the S&P 500’s 11.74X. It is below the sector’s trailing 12-month EV/EBITDA of 10.33X.Over the last five years, the industry has traded as high as 16.86X, as low as 8.10X and at the median of 12.84X, as the chart below shows.EV/EBITDA Ratio (TTM)2 Electronics Stocks to Buy Right NowAxcelis Technologies: This Zacks Rank #1 (Strong Buy) company is primarily a producer of ion implantation equipment used to fabricate semiconductor chips in the United States, Europe and Asia. You can see the complete list of today’s Zacks #1 Rank stocks here. Headquartered in Beverly, MA, Axcelis is riding on solid capital spending in the implant-intensive mature process technology markets. Strong adoption of the Purion product family has been a catalyst.Axcelis has been benefiting from a strong China market, driven by robust investments from a large number of domestic customers that serve the mature process technology market. Order momentum is expected to boost Axcelis’ top line in 2022.The Zacks Consensus Estimate for Axcelis’ 2022 earnings has been steady at $4.40 per share over the past 30 days.Price and Consensus: ACLS Kulicke and Soffa Industries: Singapore-based Kulicke and Soffa designs, manufactures and sells capital equipment and tools used to assemble semiconductor devices, including integrated circuits, high- and low-powered discrete devices, light-emitting diodes, and power modules. Additionally, it offers tools used to assemble components onto electronic circuit boards.Kulicke and Soffa is benefiting from strong adoption of its solutions in the automotive, semiconductor and the battery assembly space due to ongoing transition to electric vehicles and autonomous driving.Kulicke and Soffa’s expanding portfolio within the semiconductor space is a key catalyst. The company also sports a Zacks Rank #1.The consensus mark for Kulicke and Soffa’s current-year earnings has been unchanged at $7.22 per share over the past 30 days.Price and Consensus: KLIC  Zacks Names "Single Best Pick to Double" From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all. It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time. This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.Free: See Our Top Stock and 4 Runners Up >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Kulicke and Soffa Industries, Inc. (KLIC): Free Stock Analysis Report Axcelis Technologies, Inc. (ACLS): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research.....»»

Category: topSource: zacksJun 21st, 2022

Enphase (ENPH) Energy System Demand Rises in Puerto Rico

The demand for Enphase Energy's (ENPH) Energy System, powered by IQ8 Microinverters and IQ Batteries, escalates in Puerto Rico as the region prepares itself for a prolonged outage season. Enphase Energy, Inc. ENPH recently announced that the demand for its Enphase Energy System, powered by IQ Microinverters and IQ Batteries, has escalated in Puerto Rico as homeowners hunt for a reliable and clean energy source amid rising grid outages in the region. Also, the approaching hurricane season, when prolonged outages tend to become a daily phenomenon, sparked the demand for Enphase’s state-of-the-art energy system.Additionally, rising energy prices are also fueling the demand for a resilient storage system. In such a scenario, Enphase’s technologically advanced products, which are claimed to be the industry’s smartest, tend to gain traction. This entails ENPH’s continuous focus on strategically growing the business by tapping the market, which boasts significant demand strength.What’s Driving Demand for Enphase Products in U.S.?The demand for Enphase products is increasingly intensifying in the United States as the company strives to provide the best-in-class products to meet the ever-changing needs of the evolving solar market.Before the improved demand was witnessed in Puerto Rico, Enphase witnessed the increased deployment of its products in Southern California and Florida.With many regions in the United States approaching the hurricane season, when the grid fails to function 24x7 due to lashing winds and torrential rainstorms, the demand for Enphase's products is likely to increase manifold as it endeavors to offer industry-leading home solar and battery systems with greater resilience for energy independence.Moreover, Enphase’s increased focus to capitalize on the amplified demand going forward can be gauged from its effort to add an automated line at Flex’s factory in Romania, which boasts a quarterly capacity of roughly 750,000 microinverters starting in the first quarter of 2023 and will enable a global capacity of nearly six million microinverters per quarter.Such capacity maximization should boost the stock’s shipment count further and assist the company in meeting the growing solar demand, thereby bolstering its future revenues.U.S. Battery Storage Market BoomThe rapid expansion of the U.S. solar market is likely to trigger the growth of the battery storage market as well since solar energy fails to provide electricity 24x7. In the next two years, power plant developers and operators are likely to add 10 gigawatts of battery storage capacity, of which more than 60% will be linked with solar services, per the latest short-term energy outlook report from the U.S. Energy Information Administration.Such growth projections for the U.S. battery storage market stand to benefit the leading solar behemoths in the industry. Against this backdrop, solar companies that stand to gain from the expanding battery storage market are SunPower SPWR, SunRun RUN and SolarEdge Technologies SEDG.In March 2022, SunPower announced that its residential battery storage system, SunVault Storage, with 26-kilowatt hour (kWh) and 52 kWh configurations, is now capable of providing whole-home backup services for customers without sacrificing essentials or comfort during an outage. The installation of the new SunVault will begin in June 2022.The Zacks Consensus Estimate for SunPower’s 2022 earnings suggests a growth rate of a solid 414.3% from the prior-year period. Shares of SPWR have rallied 9.4% in the past month.SunRun’s Brightbox provides uninterrupted backup power for the entire home. It also excels in providing electricity during peak demand times, thus buffering customers from high rates.The Zacks Consensus Estimate for SunRun’s 2022 sales indicates a growth rate of 19.6% from the prior-year reported figure. RUN shares have rallied 6.3% in the past month.SolarEdge launched its residential battery, the SolarEdge energy bank, in 2021. This is a 10-kilowatt single-phase battery that integrates with its SolarEdge energy hub family of inverters. Some of the existing SolarEdge systems can be upgraded with a storage solution for backup or on-grid maximum self-consumption use.SolarEdge boasts a long-term earnings growth rate of 28.5%. SEDG shares have appreciated 4.2% in the past year.Price PerformanceIn the past year, shares of Enphase have risen16.4% against the industry’s decline of 27.9%.Image Source: Zacks Investment ResearchZacks RankEnphase currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here. Special Report: The Top 5 IPOs for Your Portfolio Today, you have a chance to get in on the ground floor of one of the best investment opportunities of the year. As the world continues to benefit from an ever-evolving internet, a handful of innovative tech companies are on the brink of reaping immense rewards - and you can put yourself in a position to cash in. One is set to disrupt the online communication industry. Brilliantly designed for creating online communities, this stock is poised to explode when made public. With the strength of our economy and record amounts of cash flooding into IPOs, you don’t want to miss this opportunity.>>See Zacks’ Hottest IPOs NowWant the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report SunPower Corporation (SPWR): Free Stock Analysis Report Enphase Energy, Inc. (ENPH): Free Stock Analysis Report SolarEdge Technologies, Inc. (SEDG): Free Stock Analysis Report Sunrun Inc. (RUN): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research.....»»

Category: topSource: zacksJun 16th, 2022

DTE Energy"s (DTE) Combined-Cycle Power Plant Starts Operation

DTE Energy (DTE) announces that its Blue Water Energy Center, a combined-cycle natural gas-fired power plant, has commenced its operations in Michigan. DTE Energy Company DTE recently announced that its combined-cycle natural gas-fired power plant in Michigan — Blue Water Energy Center — has finally commenced its operations. The 1,150-megawatt (MW) plant, which has been built to provide cleaner and affordable power for 850,000 customer homes in southeast Michigan, boasts an investment worth $1 billion.With this recent development, the company takes a step forward in providing cleaner and reasonable energy for its Michigan customers while also assisting the state in pursuing its clean energy goals of achieving carbon neutrality by 2050.DTE Energy’s Clean Energy GoalsWith the entire Utility sector transitioning to a clean energy environment, DTE Energy remains committed to reducing the carbon emission of its electric utility operations by 32% by 2023, 50% by 2030 and 80% by 2040 from the 2005 carbon emission levels. The company expanded this commitment by announcing a net-zero carbon emission goal for DTE Electric and DTE Gas by 2050.To meet carbon reduction goals in the near term, DTE Electric plans to put in service another natural gas-fueled combined-cycle generation facility in 2022.Apart from the aforementioned measure to mitigate climate crisis effects, DTE plans to expand in renewables through 4,000 MW of renewable energy from Michigan wind and solar farms while meeting its energy goals through investments in technologies like hydrogen and battery storage systems, thus ensuring the 24x7 provision of electricity for its customers and lower energy bills.To this end, it is worth mentioning that DTE Energy currently intends to invest $40 billion over the next 10 years to support reliability, the addition of renewable resources and the increased pace of electric vehicle adoption. Such strategies should boost the company’s renewable energy portfolio in the coming days.Other Utility MovesTo reap the benefits of the growing renewable market in the United States, utilities other than DTE Energy that are investing in combined-cycle natural gas-fired power plants include Duke Energy DUK, Dominion Energy D and CMS Energy CMS.Duke Energy invested $817 million to build the Asheville combined-cycle station. Its other combined-cycle stations include the Citrus combined-cycle station and a 750 MW combined-cycle natural gas plant at the W.S. LeeDuke Energy boasts a long-term earnings growth rate of 6.1%. DUK shares have returned 10.5% in the past year.Dominion Energy has significantly invested in the natural gas combined-cycle plant to boost its attainment of clean energy goals. Dominion Energy’s natural gas combined-cycle plants include the 540 MW Columbia Energy Center, the 875 MW Jasper Generating Plant, the 250 MW McMeekin Station and the 650 MW Urquhart Station.Dominion Energy’s long-term earnings growth rate is pegged at 6.3%. D shares have returned 9.2% in the past year.CMS Energy’s subsidiary, Consumer Energy, has two natural gas combined-cycle plants — one in Zeeland and one in Jackson — with a total generating capability of 1117 MW. The Zeeland facility employs two natural gas simple-cycle units providing an additional 360MW of generating capability. Together, The Zeeland and Jackson Generating Stations are capable of contributing more than 1,470 MW of clean energy to the grid.CMS Energy boasts a long-term earnings growth rate of 8.4%. CMS shares have returned 18% in the past year.Price MovementIn the past six months, DTE Energy’s shares have rallied 15.8% compared with the industry’s growth of 5.6%.Image Source: Zacks Investment ResearchZacks RankDTE Energy currently carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here. Zacks Names "Single Best Pick to Double" From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all. It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time. This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.Free: See Our Top Stock and 4 Runners Up >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Duke Energy Corporation (DUK): Free Stock Analysis Report DTE Energy Company (DTE): Free Stock Analysis Report CMS Energy Corporation (CMS): Free Stock Analysis Report Dominion Energy Inc. (D): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research.....»»

Category: topSource: zacksJun 7th, 2022

DTE Energy"s (DTE) Combined-Cycle Power Plant Starts Operation

DTE Energy (DTE) announces that its Blue Water Energy Center, a combined-cycle natural gas-fired power plant, has commenced its operations in Michigan. DTE Energy Company DTE recently announced that its combined-cycle natural gas-fired power plant in Michigan — Blue Water Energy Center — has finally commenced its operations. The 1,150-megawatt (MW) plant, which has been built to provide cleaner and affordable power for 850,000 customer homes in southeast Michigan, boasts an investment worth $1 billion.With this recent development, the company takes a step forward in providing cleaner and reasonable energy for its Michigan customers while also assisting the state in pursuing its clean energy goals of achieving carbon neutrality by 2050.DTE Energy’sClean Energy GoalsWith the entire Utility sector transitioning to a clean energy environment, DTE Energy remains committed to reducing the carbon emission of its electric utility operations by 32% by 2023, 50% by 2030 and 80% by 2040 from the 2005 carbon emission levels. The company expanded this commitment by announcing a net-zero carbon emission goal for DTE Electric and DTE Gas by 2050.To meet carbon reduction goals in the near term, DTE Electric plans to put in service another natural gas-fueled combined-cycle generation facility in 2022.Apart from the aforementioned measure to mitigate climate crisis effects, DTE plans to expand in renewables through 4,000 MW of renewable energy from Michigan wind and solar farms while meeting its energy goals through investments in technologies like hydrogen and battery storage systems, thus ensuring the 24x7 provision of electricity for its customers and lower energy bills.To this end, it is worth mentioning that DTE Energy currently intends to invest $40 billion over the next 10 years to support reliability, the addition of renewable resources and the increased pace of electric vehicle adoption. Such strategies should boost the company’s renewable energy portfolio in the coming days.Other Utility MovesTo reap the benefits of the growing renewable market in the United States, utilities other than DTE Energy that are investing in combined-cycle natural gas-fired power plants include Duke Energy DUK, Dominion Energy D and CMS Energy CMS.Duke Energy invested $817 million to build the Asheville combined-cycle station. Its other combined-cycle stations include the Citrus combined-cycle station and a 750 MW combined-cycle natural gas plant at the W.S. LeeDuke Energy boasts a long-term earnings growth rate of 6.1%. DUK shares have returned 10.5% in the past year.Dominion Energy has significantly invested in the natural gas combined-cycle plant to boost its attainment of clean energy goals. Dominion Energy’s natural gas combined-cycle plants include the 540 MW Columbia Energy Center, the 875 MW Jasper Generating Plant, the 250 MW McMeekin Station and the 650 MW Urquhart Station.Dominion Energy’s long-term earnings growth rate is pegged at 6.3%. D shares have returned 9.2% in the past year.CMS Energy’s subsidiary, Consumer Energy, has two natural gas combined-cycle plants — one in Zeeland and one in Jackson — with a total generating capability of 1117 MW. The Zeeland facility employs two natural gas simple-cycle units providing an additional 360MW of generating capability. Together, The Zeeland and Jackson Generating Stations are capable of contributing more than 1,470 MW of clean energy to the grid.CMS Energy boasts a long-term earnings growth rate of 8.4%. CMS shares have returned 18% in the past year.Price MovementIn the past six months, DTE Energy’s shares have rallied 15.8% compared with the industry’s growth of 5.6%.Image Source: Zacks Investment ResearchZacks RankDTE Energy currently carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here. Zacks Names "Single Best Pick to Double" From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all. It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time. This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.Free: See Our Top Stock and 4 Runners Up >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Duke Energy Corporation (DUK): Free Stock Analysis Report DTE Energy Company (DTE): Free Stock Analysis Report CMS Energy Corporation (CMS): Free Stock Analysis Report Dominion Energy Inc. (D): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research.....»»

Category: topSource: zacksJun 7th, 2022

Enphase (ENPH) Energy System Demand Intensifies in Florida

Enphase Energy (ENPH) announces that its Enphase Energy System, powered by IQ Microinverters and IQ Batteries, has witnessed increased deployment in Florida. Enphase Energy, Inc.ENPH recently revealed that Florida has been increasingly adopting its Enphase Energy System, with homeowners striving to reduce their dependence on the grid as they approach the hurricane season.What’s Driving the Demand?Florida offers a huge platform to battery storage makers like Enphase as the region is susceptible to intense storms and consequently prolonged power outages. In such a scenario, ENPH’s technologically advanced energy system that comes with benefits well-suited to meet householders needs for clean, reliable and safe energy provides homeowners with accessibility to backup power when they need it the most.Florida customers can opt to install Enphase’s revolutionary IQ8 Microinverters, which can provide Sunlight Backup. Enphase’s IQ8 Microinverters have the capability of forming a microgrid during a power outage using only sunlight, thus providing backup power even without a battery. Additionally, it offers a seamless power transfer without any reliance on elevating fuel prices.No doubt such remarkable features must have been boosting the demand for Enphase’s products in the Sunshine State, which is prone to power outages during severe weather conditions, especially hurricanes.Enphase’s Growth Prospects in FloridaThe current expansion in Florida’s market broadens scope for ENPH to further gain from the opportunistic solar market, buoyed by its impressive range of products. Looking ahead, per the U.S. Energy Storage Monitor report from the Energy Storage Association and Wood Mackenzie’s latest report, the deployment of battery storage in Florida is estimated to increase almost seven-fold by the end of 2026.Considering such bright prospects, we can expect Enphase to witness further deployment of its products in Florida’s solar market, which will thereby boost its revenue generation prospects.U.S.Solar Market BoomPer the latest energy report from the U.S. Energy Information Administration, the utility-scale solar generation from June to August 2022 is estimated to escalate by 10 million megawatt hours compared with the same period last summer. Moreover, in June 2022, the U.S. electric power sector is estimated to increase by 31% in solar capacity to reach 65 gigawatts of utility-scale solar-generating capacity since June 2021.Such growth trends exemplify the nation’s increased pace of embracing solar power to fulfill energy needs. This brings the spotlight on major solar players in the industry like Enphase Energy, Canadian Solar CSIQ, First SolarFSLR and Sunrun RUNwho can fortify their business in the opportunistic solar market.In May 2022, Canadian Solar announced the completion of the construction of a 100-megawatt (MW) renewable solar power plant near Ruleville in the Mississippi Delta, providing clean energy for Entergy Mississippi's 461,000 customers. The Sunflower Solar Station is the largest solar installation in Mississippi and provides enough energy to power 16,000 homes.The Zacks Consensus Estimate for Canadian Solar’s 2022 earnings suggests a growth rate of 170.8% from the prior-year reported figure. Shares of CSIQ have rallied 8.3% in the past three months.In May 2022, First Solar signed an agreement with Scout Clean Energy to supply 378 MW of its advanced thin-film photovoltaic solar modules.First Solar boasts a long-term earnings growth rate of 13.2%. Shares of FSLR have rallied 3.3% in the past three months.In May 2022, Sunrun announced the completion of a new solar installation serving 70 affordable rental homes in San Jose, CA. The Don de Dios Apartments solar project will provide 136 kilowatts of clean energy.The Zacks Consensus Estimate for Sunrun’s 2022 sales suggests a growth rate of 17.2% from the prior-year reported figure. RUN shares have rallied 5.4% in the past three months.Price MovementIn the past year, shares of Enphase Energy have rallied 48.3% against the industry’s decline of 12.3%.Image Source: Zacks Investment ResearchZacks RankEnphase Energy currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here. Zacks' Top Picks to Cash in on Electric Vehicles Big money has already been made in the Electric Vehicle (EV) industry. But, the EV revolution has not hit full throttle yet. There is a lot of money to be made as the next push for future technologies ramps up. Zacks’ Special Report reveals 5 picks investorsSee 5 EV Stocks With Extreme Upside Potential >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report First Solar, Inc. (FSLR): Free Stock Analysis Report Canadian Solar Inc. (CSIQ): Free Stock Analysis Report Enphase Energy, Inc. (ENPH): Free Stock Analysis Report Sunrun Inc. (RUN): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research.....»»

Category: topSource: zacksJun 3rd, 2022

Flight From Risk And Change To Pandemic Trends Behind Moves In The FTSE Reshuffle

The FTSE All Share Index Quarterly Review is based on closing prices on Tuesday 31st May and is due to be announced on Wednesday 1st June, with changes effective from Monday 20th June. Royal Mail PLC (LON:RMG) and ITV plc (LON:ITV) face potential demotion from the FTSE 100 Centrica PLC (LON:CNA) and Johnson Matthey PLC (LON:JMAT) could be […] The FTSE All Share Index Quarterly Review is based on closing prices on Tuesday 31st May and is due to be announced on Wednesday 1st June, with changes effective from Monday 20th June. Royal Mail PLC (LON:RMG) and ITV plc (LON:ITV) face potential demotion from the FTSE 100 Centrica PLC (LON:CNA) and Johnson Matthey PLC (LON:JMAT) could be promoted to the FTSE 100 JLEN Environmental Assets Group Ltd (LON:JLEN) and Foresight Solar Fund Ltd (LON:FSFL) set to enter the FTSE 250, Puretech Health PLC (LON:PRTC) and Baillie Gifford US Growth Trust PLC (LON:USA) contenders to leave the FTSE 250 if (typeof jQuery == 'undefined') { document.write(''); } .first{clear:both;margin-left:0}.one-third{width:31.034482758621%;float:left;margin-left:3.448275862069%}.two-thirds{width:65.51724137931%;float:left}form.ebook-styles .af-element input{border:0;border-radius:0;padding:8px}form.ebook-styles .af-element{width:220px;float:left}form.ebook-styles .af-element.buttonContainer{width:115px;float:left;margin-left: 6px;}form.ebook-styles .af-element.buttonContainer input.submit{width:115px;padding:10px 6px 8px;text-transform:uppercase;border-radius:0;border:0;font-size:15px}form.ebook-styles .af-body.af-standards input.submit{width:115px}form.ebook-styles .af-element.privacyPolicy{width:100%;font-size:12px;margin:10px auto 0}form.ebook-styles .af-element.privacyPolicy p{font-size:11px;margin-bottom:0}form.ebook-styles .af-body input.text{height:40px;padding:2px 10px !important} form.ebook-styles .error, form.ebook-styles #error { color:#d00; } form.ebook-styles .formfields h1, form.ebook-styles .formfields #mg-logo, form.ebook-styles .formfields #mg-footer { display: none; } form.ebook-styles .formfields { font-size: 12px; } form.ebook-styles .formfields p { margin: 4px 0; } Get The Full Henry Singleton Series in PDF Get the entire 4-part series on Henry Singleton in PDF. Save it to your desktop, read it on your tablet, or email to your colleagues (function($) {window.fnames = new Array(); window.ftypes = new Array();fnames[0]='EMAIL';ftypes[0]='email';}(jQuery));var $mcj = jQuery.noConflict(true); Q1 2022 hedge fund letters, conferences and more Susannah Streeter, senior investment and markets analyst, Hargreaves Lansdown summarises the runners and riders: "The latest quarterly review comes amid an evaporation of investor confidence as worries ratchet up about the impact of soaring inflation and rising interest rates on l growth at a time when the global economy is still adjusting to changes brought about by the pandemic. A change from lockdown behaviour with e-commerce sales falling and streaming services struggling is partly behind the arrival of Royal Mail and ITV in the FTSE 100 drop zone. Centrica’s fortunes have lifted along with higher energy prices, as it’s managed to deftly navigate volatile costs while investors are giving Johnson Matthey the benefit of the doubt even though it hasn’t as yet carved out its future in the electric world. In the FTSE 250 there is some evidence that the appetite for responsible investing remains resilient  with JLEN Environmental Assets Group and Foresight Solar Fund set to enter the FTSE 250, while PureTech Health and Baillie Gifford US Growth Trust appear to be among the casualties of the flight away from risky assets. Potential For FTSE 100 Demotion Royal Mail made a rapid recovery in 2021 but its recent share price weakness could see it fall out of the FTSE 100 as it’s once again in the drop zone. Some investors appear to think its pandemic performance has now come unstuck with parcel numbers on the decline, but although volumes have fallen from last year's highs, they crucially appear to be rebasing at a much higher level than pre-pandemic. Royal Mail’s accelerated modernisation drive has also been boosting profitability and the move to greater automation should make the company more flexible to deal with peaks and troughs of demand going forward. However worries about inflation are weighing on the stock, with the company warning that stamp prices may have to rise again as it faces a raft of higher prices from energy to labour costs, but here again increased automation should help it weather the storm. ITV is at risk of changing channels from the FTSE 100 big league to the FTSE 250 mid cap as worries rise about the risks in the streaming space. Competition is fierce in the sector, as the recent subscriber losses for Netflix have shown. There are concerns that consumers will be less willing to shell out for the upcoming ITVX venture particularly given the cost of living crisis, and worries have risen about advertising revenue as a recession looms. Although ITV’s Studios business offers growth potential given there is such a high demand for quality content, running a production company is an expensive business which is reliant on big hits so if the shows don’t land well, there could be a hit to the bottom line, given the Studios business makes up around  a quarter of group profit. ITV’s acceleration of digitisation makes sense but there are plenty of headwinds facing the group which is why the share price has fallen back. Potential For FTSE 100 Promotion Centrica’s solid first quarter performance showed evidence of the fruits of the turnaround strategy and its most recent update highlighted that full year profits would come in at the top end of expectations.  That propelled shares higher, placing the company in pole position for re-entry into the FTSE 100. As well as higher revenues from its nuclear and gas production business, cost savings have also boosted profits and its balance sheet is also looking a lot healthier thanks to disposals. There are still clouds hovering in the form of higher wholesale costs but Centrica’s hedge positions have proved to be a protective haven during recent surges in energy costs.  Already British Gas was the dominant provider of gas and electricity and it’s now also taken another 750,000 customers under its wing as other providers went bust. The current pricing structure limits what it can make on bills, but by gaining market share, alongside another increase in the energy price cap in the Autumn puts Centrica in a stronger position. It has also stressed it’s piling £50 million into supporting customers through an energy support fund, new apprenticeships and more customer service roles. Johnson Matthey’s approach of stripping the operations back to basics is starting to be cautiously welcomed by investors after the initial shock of the company exiting the battery scene. Its share price has been recovering with full year operating profit still in line with expectations, which makes it a contender to accelerate back into the FTSE 100. Its core business is highly profitable and catalytic converters, where it makes money, isn’t going to dry up immediately. However the shift to the new electric world is gathering pace and the race is on to find other new opportunities for growth. In many ways the company is well placed to seize on fresh potential with a new CEO, Liam Condon in charge who has a cash hoard at his disposal. But investors may be disappointed if fresh deals don’t land relatively soon as the clock is ticking on the traditional automobile business. Other Potential Movers And Shakers In The FTSE 250 Reshuffle Despite the volatility facing the financial markets, there is still strength in the appetite for ESG investing with JLEN Environmental Assets Group, formerly John Laing Environmental Fund, sharply rising in value and angling for position to enter the FTSE 250. The British investment trust offers an opportunity to invest in a portfolio of projects focused on renewable energy infrastructure. The Jersey based investment company, Foresight Solar Fund has regained shine amid a change in the direction of its diversified portfolio. It won shareholder approval to focus on battery storage alongside its ground based solar plants and there appears to be confidence in the strategy bearing fruit with shares climbing sharply since the start of the year, which could help propel it back into the FTSE 250. Biotech company PureTech Health could be heading out of the FTSE 250, a casualty of investors increasingly cautious approach to risk. The nature of the product pipeline makes the results quite volatile, although the broad spectrum of its drugs could help offer longer term resilience. The Baillie Gifford US Growth Trust has also fallen out of favour as investors ride back their bets on high growth companies in an era of rapid monetary tightening, and it’s also  contender for demotion from the FTSE 250.” About Hargreaves Lansdown Over1.7 million clients trust us with £132.2 billion (as at 30 April 2022), making us the UK’s number one platform for private investors. More than 98% of client activity is done through our digital channels and over 600,000 access our mobile app each month. Updated on May 24, 2022, 11:50 am (function() { var sc = document.createElement("script"); sc.type = "text/javascript"; sc.async = true;sc.src = "//mixi.media/data/js/95481.js"; sc.charset = "utf-8";var s = document.getElementsByTagName("script")[0]; s.parentNode.insertBefore(sc, s); }()); window._F20 = window._F20 || []; _F20.push({container: 'F20WidgetContainer', placement: '', count: 3}); _F20.push({finish: true});.....»»

Category: blogSource: valuewalkMay 24th, 2022