EP 6: New York Cancels Contracts With Three Offshore Wind Projects

Prepare to be electrified by the future of energy that's unfolding right before our eyes, as New York takes a leap with a game-changing program that could power up the city skyline with solar arrays. From the breezy shores of Maui, we bring you a session bubbling with innovation, where we unravel how a simple tweak by the New York ISO is set to revolutionize the energy markets, inviting smaller players to the big league. And while the winds may have temporarily calmed with New York's offshore wind projects taking a hit, we shine a light on the ripple effects this could have on the state's renewable ambitions.

Then, hold onto your seats as we zoom into the fast lane with Nissan's bold stride into the all-solid-state EV battery race, teasing a future where long trips without the angst of frequent stops to recharge could be our new reality. Not to be outdone, GM throws its hat into the ring with a bidirectional charging offering that's more than just a lifeline during power outages—it's a peek into a grid-smart future. As we discuss these electrifying developments, we don't just tell you what's happening—we connect the dots to show you how these advancements interlace with the grand tapestry of tomorrow's energy landscape. Join us and fuel your curiosity about the technologies that are not just powering our homes and cars, but also shaping our world.

Transcript:

Speaker 1: 0:00

Greetings for this, your energy video for week four of April 2024. I apologize for the noise of the birds in the background, but what can I say? Maui's simply not being cooperative this week. Well, in our first story, the New York Independent System Operator, new York ISO, just launched a pioneering program to integrate distributed energy resources DERs aggregations into the wholesale electric markets. The move is in line with FERC Order 2222, which requires grid operators to compensate aggregated DERs like any other wholesale asset. However, order 2222 stipulates that such aggregations must total at least 100 kW. New York ISO's rules cut this to 10 kilowatts. Among other resources, this should help stimulate development of more rooftop solar, and the state's going to need more renewable resources if its flagship offshore wind resource continues to take torpedoes to the bow.

Speaker 1: 0:51

Last week, new York canceled power contracts with three offshore wind projects totaling almost 4,000 megawatts of its total 9,000 megawatt target. New York blames GE, which pulled back from a commitment to make an 18-megawatt turbine that all three projects were planning to use. Instead of pursuing bigger and more powerful machines that were also somewhat more risky, ge Venova decided to pull back its horns and focus on developing and standardizing its 14 to 15-megawatt Halyard workhorse. For the developers. Smaller machines equate to having to buy and install more turbines as well as related infrastructure such as connecting transmission cables. The offshore wind industry projects have been bifurcated into pre and post-COVID phases, with Bloomberg NEF estimating that offshore wind project costs have soared 60% between 2021 and 2024, a victim of increased supply chain costs and rising interest rates. Well, data center company Equinix is looking to small modular nuclear startup Oklo to supply hundreds of megawatts of energy to future data centers. Oklo's small reactors will be sized to yield about 15 megawatts of power for over 10 years without refueling. According to a financial filing with Oklo's SPAC company ALTC at the SEC, equinix has ponied up a prepaid $25 million, as described in a letter of intent to buy between 100 megawatts and 500 megawatts from future Oklo plants.

Speaker 1: 2:15

Nissan is apparently accelerating development of its all-solid-state EV battery, kicking off a pilot production line at its Yokohama factory. Kicking off a pilot production line at its Yokohama factory. The company plans to include the battery technology in a wide variety of future models, which will allow them to offer twice the range for the same volume and weight, while charging in one-third of the time. Nissan currently plans to launch EVs with solid-state batteries manufactured in its own plants by 2028. That's still a long way out, so a lot can happen.

Speaker 1: 2:44

Gm is getting into the bidirectional game with a residential offering that will allow customers to engage in vehicle-to-home charging. The goal is to help customers better cope with power outages and integrate with future clean energy products. Buyers can choose from a set of options online, but will be supported by a GM team who will connect customers with installers and deal with needed permits team who will connect customers with installers and deal with needed permits. Gm Energy's V2H bundle already includes necessary equipment for bidirectional flows, with stationary energy storage and solar integration to be added later in 2024. First up in the vehicle lineup will be the 2024 Chevy Silverado, with additional Altium-based EVs added through 2026. Well, that's all for this short session from Maui. Thanks for watching and we'll see you again next week.