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Energy Update: April 4, 2023

In the States

AKAlaska Governor Mike Dunleavy has introduced a bill to create a new financing entity for smaller-scale energy conservation and renewable energy projects in residential, commercial, and institutional buildings. The proposed legislation, Senate Bill 125 and House Bill 154, authorize the Alaska Housing Finance Corporation (AHFC) to create a non-profit subsidiary that would provide financing at more competitive terms than conventional commercial banks. The new energy finance entity would also be authorized to leverage federal grants and loans. The Governor announced the initiative as the “Alaska Energy Independence Fund,” and said, “Alaska has the resources, creativity and ability to achieve energy independence that will fuel a growing economy,” The proposed bill would allow the new subsidiary to provide direct or indirect financing and technical assistance for sustainable energy projects, including renewable energy generation, energy storage, energy efficiency improvements, clean transportation, and other greenhouse gas emissions reduction projects. Governor introduces legislation to do residential, commercial and institutional building renewable energy conservation projects—The Frontiersman


CA: California Governor Gavin Newsom is set to sign a bill aimed at penalizing the oil industry for alleged price gouging at the pump. The bill would empower the California Energy Commission to review data from refiners, set caps on oil company profits, and penalize companies that exceed those caps. The legislation would be the first bill of its kind in the nation. The move comes in response to record-high gas prices seen in California last year, which remained high despite falling crude prices. “We are going to get under the hood and address the issue like no other jurisdiction in this country has,” Governor Newsom said. Newsom to sign bill that would let California commission penalize oil companies—Fox40


MD: Maryland's General Assembly has passed the Promoting Offshore Wind Energy Resources Act, or POWER ACT, which aims to quadruple the amount of offshore wind energy planned along the state’s Atlantic coastline. The comprehensive legislation established a non-binding goal of 8.5 gigawatts of offshore wind capacity by 2031, more than four times the 2 gigawatts of projects now under development. Maryland Governor Wes Moore has committed to signing the legislation, as part of the state’s broader goal of meeting 100% of its electricity needs from renewable energy sources by 2035. This will position Maryland as a state to have the second most aggressive wind production goal in the country, after New York, and help the Biden administration achieve its  target goal of installing 30 gigawatts of offshore wind by 2030. To date, four offshore wind projects have been approved by Maryland's Public Service Commission, and all four are scheduled to being operating by 2026, although none are yet under construction. “Our administration is serious about offshore wind, and Maryland is ready to lead,” Governor Moore said. Maryland set to adopt one of the biggest offshore wind goals in the United States—Canary


VA: Governor Glenn Youngkin visited Southwest Virginia on Thursday to promote his “All American, All-of-the-Above” Energy Plan and sign nearly a dozen bills into law at the Energy Delta Lab in Abingdon. “Southwest Virginia's got such an extraordinary opportunity to lead, not just Virginia, but the nation,” Governor Youngkin said. The bills covered various energy topics, including advancing research in nuclear energy, encouraging the capture and use of coal mine methane, and empowering the Southwest Virginia Energy Research and Development Authority to promote energy projects. Governor signs bills focused on All-American, All-of-the-above Energy Plan—WSET



The Biden administration plans to introduce some of the world’s most stringent auto pollution limits, which could see all-electric cars make up 67% of new passenger vehicles sold in the US by 2032. This represents a significant increase on the President’s earlier ambitions for 50% of new auto sales to be electric vehicles by 2030. The proposal would require car manufacturers to produce more electric cars over time, requiring the construction of millions of electric vehicle charging stations, the overhaul of electric grids, and the acquisition of minerals needed for batteries. EPA set to propose rules to drive up electric vehicle sales tenfold—NY Times

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