Sustainability Weekly

SUSTAINABILITY
Written By Dara Magagnoli

Fridays are for…

Clean Energy Loans, Climate Change Lawsuits, Debates on Extinction, and more!

by Alli DiGiacomo

Happy Friday! This week’s newsletter touches on some final acts of the Biden Administration before he leaves office on Monday, as well as a historic Supreme Court decision, a look back on the new energy capacity in 2024, and other interesting news. I hope everyone enjoys the long weekend and stays warm! 

Keep reading for more sustainability news…

T H I S W E E K ’ S T O P S T O R I E S

DOE ANNOUNCED $22.4 BILLION TO UTILITIES TO CUT ENERGY COSTS AND EMISSIONS

The Department of Energy (DOE) announced $22.4 billion in conditional loans to eight U.S. utilities across 12 states as part of the Energy Infrastructure Reinvestment (EIR) program, funded by the Inflation Reduction Act. These loans will reduce carbon emissions and energy costs by supporting clean energy projects, including renewable energy generation, battery storage, grid upgrades, and repair of leaky gas lines. The projects serve nearly 15 million customers and span over 12 states. The loans, issued through the Loan Programs Office (LPO), offer lower interest rates than commercial markets and are backed by utilities' assets, making them financially stable. The New York Times noted that this is “one of the biggest commitments ever made” by the LPO. The program is a major federal investment in clean energy infrastructure, with the LPO having issued nearly $55 billion in loans under the Biden administration. 

With just a few days left before Trump takes office, the loans still need to be finalized. It is no secret that Trump is skeptical over clean energy initiatives. But DOE sources told the Times that the loans are legally binding and difficult to revoke.

SUPREME COURT DECLINED TO HEAR FROM FOSSIL FUEL COMPANIES TRYING TO BLOCK CLIMATE CHANGE ACCOUNTABILITY LAWSUITS

The U.S. Supreme Court declined to hear appeals from major oil and gas companies, including Shell, ExxonMobil, and BP, attempting to block climate liability lawsuits, allowing Honolulu's case against the industry to move forward. The lawsuits, part of a broader legal push in the U.S. and globally, allege that the fossil fuel industry misled the public about the dangers of their products, contributing to climate impacts like rising sea levels and severe storms. The Supreme Court’s decision upholds a 2023 ruling by Hawaii's highest court permitting Honolulu to proceed with claims under state law for deceptive marketing and concealment. This decision could set a precedent for over 25 similar lawsuits nationwide seeking billions in damages. The cases are not about regulating emissions but holding corporate companies accountable for misleading practices and climate damage. In Honolulu’s case, pretrial discovery is currently happening, and a trial could happen as early as 2026.

96% OF NEW U.S. POWER CAPACITY IN 2024 WAS CARBON-FREE

In 2024, 96% of new power capacity added to the U.S. grid came from carbon-free sources such as solar, batteries, wind, nuclear, and other renewables, according to Cleanview's analysis of U.S. Energy Information Administration data. A total of 56 gigawatts (GW) of capacity was installed, with solar leading at 34 GW, a 74% increase from 2023. Fossil fuel additions had just 2.4 GW of gas and nuclear capacity had 1 GW added. As the grid continues to decarbonize, and power emissions decline (since their 2007 peak), we can’t forget that fossil fuels, especially gas, remain the largest source of U.S. electricity power. Emissions from gas rose by 4% in 2024, mostly from AI-driven data centers. Biden’s target of  decarbonizing the grid by 2035 will likely face greater challenges under incoming President Trump, who plans to expand fossil fuel use.

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