Articles tagged with "energy-subsidies"
GM’s EV Production Retreat Leads To A $1.6 Billion Financial Hit - CleanTechnica
General Motors (GM) is taking a significant $1.6 billion financial charge due to scaling back its electric vehicle (EV) manufacturing capacity in the U.S. This decision stems from expectations of slower EV adoption caused by the termination of certain consumer tax incentives and reduced emissions regulation stringency. The charges include $1.2 billion in non-cash impairments related to capacity adjustments and $0.4 billion in cash-impacting costs such as contract cancellations and settlements. GM indicated that this reassessment of EV capacity and related investments, including battery component manufacturing, is ongoing. Despite previously achieving "variable cost positive" status—meaning EV sales covered direct costs like materials and labor—this metric likely deteriorated with subsidy changes and reduced production scale, making profitability more challenging. The market reacted positively to GM’s announcement, with its share price rising 2.75%, reflecting investor belief that scaling back EV production may improve financial outcomes. However, this raises questions about the future utilization of facilities built with substantial
electric-vehiclesEV-productionautomotive-manufacturingbattery-technologyenergy-subsidieselectric-mobilityclean-energyThe Economics Of Renewables — The Bottom Line Is Often Hidden By Hyperbole - CleanTechnica
The article from CleanTechnica addresses the widespread misinformation and political opposition surrounding renewable energy, particularly from right-wing governments and fossil fuel interests. Critics often rely on outdated data or political motivations to claim that renewables are too expensive compared to fossil fuels, despite evidence to the contrary. The piece highlights former President Trump’s vocal anti-renewables stance, including efforts to dismantle renewable subsidies and infrastructure, which contrasts with data from the U.S. Energy Information Administration (EIA) showing a more balanced and reliable energy mix. It also notes that clean energy investments offer better long-term returns, as renewable hardware generates electricity over decades, unlike fossil fuels which are consumed immediately. The article further counters common myths about renewable energy reliability, citing advances in battery storage technology that allow surplus solar power to be stored and used when needed, enhancing grid stability. This progress is not limited to the U.S.; for example, in France, serious economic analyses have debunked exaggerated cost claims about renewable development, showing more reasonable
energyrenewable-energyclean-energyenergy-policyfossil-fuelsenergy-subsidiesenergy-transitionUS Energy Secretary Calls For An End To All Subsidies For Solar & Wind - CleanTechnica
US Energy Secretary Chris Wright, during a visit to Ames National Laboratory in Iowa, called for an end to all federal subsidies for wind power, arguing that after 33 years of incentives, the wind industry has matured and should now compete fairly in the marketplace alongside other energy sources. Wright emphasized the need for the US to mine and refine its own critical raw materials, highlighting national security and economic concerns tied to reliance on foreign sources, particularly China. He praised Ames Laboratory’s efforts to revitalize domestic capabilities in rare earth minerals essential for technologies like electric vehicles, storage batteries, and artificial intelligence. The article critiques Wright’s stance by pointing out the irony that his personal wealth stems from fossil fuel industries that have benefited from government subsidies and lax regulations, including the externalized environmental and health costs often ignored in economic calculations. It underscores that untaxed externalities—such as pollution and climate damage—are effectively subsidies for fossil fuels, with the International Monetary Fund estimating these costs in the trillions. While Wright acknowledged climate
energyrenewable-energysolar-powerwind-powerenergy-subsidiesfossil-fuelsenergy-policyFortescue Cancels Flagship Hydrogen Projects: UK Should Take Notice - CleanTechnica
Fortescue’s recent cancellation of two flagship green hydrogen projects—one in Gladstone, Australia, and another in Arizona, USA—signals significant economic challenges facing hydrogen as a mainstream energy source beyond industrial feedstock use. Despite substantial financial backing, government grants, and initial optimism, both projects proved financially unviable amid shifting policy landscapes and market realities. The Arizona project, an 80 MW facility, was undermined by the removal of US hydrogen subsidies, leading to a $150 million pre-tax loss write-off. Similarly, the Gladstone plant, partially operational and supported by about A$60 million in government grants, was shut down due to high costs and competitiveness issues, with potential grant repayments under evaluation. These setbacks underscore hydrogen’s struggle to compete economically without extensive subsidies, a pattern echoed globally as major firms like BP, Shell, and Iberdrola scale back or abandon hydrogen energy projects. The broader hydrogen industry faces mounting practical and financial hurdles, including infrastructure challenges related to storage, distribution,
energyhydrogen-energygreen-hydrogenenergy-policyrenewable-energyenergy-infrastructureenergy-subsidiesIs Clean Energy Finally Affordable? BLUETTI’s Paying In—And Launching Something New
clean-energyaffordable-energyhome-battery-systemsBLUETTIrenewable-energyenergy-transitionenergy-subsidies