Texas led the U.S. in wind and solar energy production last year
A new study from Climate Central shows that the U.S.sawimpressiveoverallgrowthinwindandsolar energycapacityin2022.
The states that dominated the list of top solar energyproducersin2022:
California generated 58,664,084 megawatt-hours from solar energy last year. Texas came in second, generating 22,863,146 MWh. Florida generated 13,595,456MWh.NorthCarolinagenerated11,532,539 MWh.Arizonagenerated10,408,801MWh.
Statesthatledinwindenergyproductionin2022:
Texas came in first, creating 129,578,478 MWh from wind in 2022. Iowa came in second, generating 48,442,412 MWh from wind energy. Oklahoma generated 45,757,509 MWh. Kansas produced 34,239,591MWh.Illinois generated23,819,521MWh.
The U.S. aims to reach net zero emissions by 2050, and the recent efforts to expand fossil fuel-free energyareamajorstepinthatdirection.
U.S. aims to chart new course for chip industry
The Commerce Department on Tuesday kicked off the application process for semiconductor manufacturing subsidies under the $53 billion ChipsAct.
The program serves as a test of Washington’s ability to invigorate and chart a future course for thesemiconductorindustrythatwasforgedinthe U.S. but in recent years has moved much of its manufacturingoverseas.
Some of the terms also reflected the administration’s social and economic priorities, such as diverse workforce and the use of union labor.
Companiesreceivingincentiveswillberequiredto share part of their profits with the government and limit stock buybacks and dividends. Companies are also expected to use union workers,aswellasU.S.-madeironandsteelforthe construction of facilities, while providing affordablechildcareforworkers.
Souce:
https://gizmodo.com/texas-red-states-wind-solar-renewable-energy-20221850163385
https://www.wsj.com/articles/chips-act-is-bounty-for-semiconductor-
Consumer confidence slips again
U.S. consumer confidence unexpectedly fell for the second straight month in February as Americans' outlook on the economy tumbled further, showing how persistent inflation is weighing on shoppers amidloomingrecessionfears.
The Conference Board's latest Consumer Confidence Index declined to 102.9 for this month, slipping from 106.0 in January — which was revised lower. Economists polled by Refinitiv had expected February'sindextotickupto108.5.
Consumers' assessment of the current business climate also worsened in February, with 17.8% of respondents answering that business conditions were"good,"downfrom19.9%inJanuary.
However, more consumers said the labor market was more favorable this month, with 52% saying jobswere"plentiful,"upfrom48.1%.
Still, the survey indicated Americans' have a dismal view of how economic conditions look in the near future.
Fewer consumers are planning to purchase homes or autos and they also appear to be scaling back plans to buy major appliances. Vacation intentions alsodeclinedinFebruary.
Souce:
https://www.foxbusiness.com/economy/consumer-confidence-slips-again
Federal Reserve officials sound warnings about higher rates
A run of strong economic data and signs that inflation remains stubbornly high could lead the FederalReservetoraiseitsbenchmarkratehigher in the coming months than it has previously forecast,severalFedofficialssay.
Christopher Waller, a member of the Fed’s influential Board of Governors, said that if the economy continued to show strength and inflation remained elevated, the central bank would have to lift its key rate above 5.4%. That wouldbehigherthanFedofficialshadsignaledin December, when they projected it would peak at roughly5.1%thisyear.
Even if data to be released later this month were to show hiring and inflation cooling again, Waller said, he would stillfavor raising the Fed’s rate to a range between 5% to 5.5%, up from about 4.6% now. And if the economic figures were to “continue to come in too hot,” he said, the Fed’s keyrate“willhavetoberaisedthisyearevenmore toensurethatwedonotlosethemomentumthat wasinplace”beforetherobustJanuaryeconomic reports.
CO2 emissions may be starting to plateau, says global energy watchdog
Global carbon dioxide emissions are still rising but may at least be reaching a plateau, research from the InternationalEnergyAgencyhasshown.
CO2 from energy – by far the biggest source of emissions – increased by less than 1% in 2022. This was despitetheturmoilinenergythemarketscausedbyRussia’sinvasionofUkraine.
The rise is smaller than the 6% increase in emissions from energy recorded by the IEA in 2021, a leap that cameonthebackofthereboundfromtheCovid-19pandemic.
However,a7%reductionisneededeveryyeartomeetthegoalofhalvingemissionsthisdecade.
Manyexpertshadfearedthesoaringpriceofgascouldpushcountriesbacktowardsusingcoal,whichhas much higher carbon emissions. But renewable energy seems to have been a big beneficiary, as countries optedforsolarandwindpower,andencouragedthetake-upofheatpumpsandelectricvehicles(EVs).
Even a small increase in greenhouse gas emissions takes the world much further away from the path to netzero,thegoalneededtolimitglobaltemperaturerisesto1.5Cabovepre-industriallevels.
Souce:
https://www.theguardian.com/environment/2023/mar/02/co2-emissions-may-be-starting-to-plateau-global-energy-watchdog-iea
