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Report reveals how unorthodox power market drastically lowered utility bills — here's how it defied expectations

Report reveals how unorthodox power market drastically lowered utility bills — here's how it defied expectations

Yahoo27-02-2025
Did you know that California's power grid met more than 100% of the state's electricity demand using only renewable energy for a record 98 days in 2024?
A new study published in Renewable Energy and reported by Electrek found that from late winter to early summer, solar, wind, and hydropower consistently generated more electricity than the state needed, averaging 4.84 surplus hours per day and reaching a peak of 10.1 hours.
California adopted more clean energy practices, with solar power up 31%, wind energy growing by 8%, and battery storage more than doubling since 2023. Big battery systems, including lithium-ion storage, played a huge part by holding on to extra solar power during the day and sending out up to 12% of the state's electricity at night.
Some feared that depending more on renewables would make electricity unreliable or drive up costs, but that wasn't the case. No blackouts occurred, and electricity prices fell by over 50% compared to the previous year.
A research team from Stanford University, Lawrence Berkeley National Laboratory, and the University of California, Berkeley studied these trends and found that running California's grid primarily on renewables is not only possible but also costs.
"The main grid in the world's fifth-largest economy was able to provide more than 100% of the electricity that it used from only four clean renewable sources: solar, wind, hydroelectric, and geothermal," said Mark Z. Jacobson, a Stanford professor and co-author of the study.
For Californians, this means cheaper power bills and a more stable energy supply. Burning gas dropped by 40% during this time, meaning fewer emissions in the air and less need to bring in fuel from outside the state.
California isn't the only place making big moves in clean energy. Texas hit record highs in wind and solar power generation, while Iowa and South Dakota now get more than 60% of their electricity from renewables. At the same time, new tech such as floating solar panels and better battery storage is helping keep power grids stable and lowering costs.
With more states stepping up their investments, running on mostly clean energy isn't just an idea for the future; it's already happening.
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One reader of the Electrek article said, "Just because renewables covered demand at some points doesn't mean it's sustainable long-term."
Another reader made their point, saying: "Consumers pay more per kWh in states with higher renewable generation. Love clean energy, but it's pricey."
And one commenter said: "No mention of the effect of AI and Bitcoin on the grid. Hopefully, Bitcoin will go away and all that energy can be used for cheaper power for homes and EV charging."
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Google Play Store Requires Government Licenses For Crypto Wallet Apps
Google Play Store Requires Government Licenses For Crypto Wallet Apps

Forbes

time17 minutes ago

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Google Play Store Requires Government Licenses For Crypto Wallet Apps

Google Play Store has implemented a new policy requiring cryptocurrency wallet developers to obtain government licenses before publishing apps in 15 jurisdictions, including the United States, United Kingdom, and European Union. The policy applies to both cryptocurrency exchanges and software wallets, regardless of whether the provider holds customer funds. The new requirements come as digital assets gain mainstream adoption. Bitcoin reached an all-time high of $123,000 in August 2025, and stablecoins are increasingly used for payments and remittances worldwide. Wallets or Password Managers? How Cryptocurrency Wallets Function Cryptocurrency wallets are software applications that manage cryptographic keys rather than storing actual digital assets. Each wallet contains a private key—a 256-bit number that serves as a digital signature. This private key mathematically generates a corresponding public key, which creates the wallet address where users can receive cryptocurrency. When users want to send cryptocurrency, the wallet software uses the private key to digitally sign a transaction message. This signed transaction is broadcast to the blockchain network, where nodes verify the signature matches the public key associated with the sending address. The transaction then gets recorded permanently on the blockchain. The wallet software functions similarly to a password manager, storing and managing the cryptographic keys that prove ownership of digital assets rather than holding the assets themselves. Custodial Versus Non-Custodial Wallets The cryptocurrency industry distinguishes between two types of wallets based on who controls the private keys. Custodial wallets are operated by companies that hold users' private keys on their servers. These providers manage transactions on behalf of customers, similar to how banks hold deposits. Companies like Coinbase and Binance are known for custodial wallet services, but they have significant investment in non-custodial technology too. Non-custodial wallets store private keys locally on users' devices. The wallet provider never has access to user funds and simply provides software that helps individuals manage their own cryptographic keys. Popular non-custodial wallets include MetaMask, Trust Wallet, and Exodus. This distinction has important regulatory implications. Custodial wallet providers actually hold customer funds, making them functionally similar to traditional financial institutions. Non-custodial wallet providers never access or control user funds. Google's Licensing Requirements Google's policy treats both wallet types identically, requiring the same licensing regardless of whether the app provider ever holds customer funds. In the United States, the policy requires developers to register with FinCEN as Money Services Businesses and obtain state money transmitter licenses. These requirements typically apply to companies that actually transmit money on behalf of customers. For European Union countries, Google requires developers to obtain CASP (Crypto Asset Service Provider) authorization under the Markets in Crypto-Assets (MiCA) regulation. MiCA licenses are designed for exchanges, trading platforms, and custodial services that actually provide crypto asset services to customers. In the United Kingdom, developers must register with the Financial Conduct Authority. Regulatory Landscape Challenges Developers The policy requirements exceed what current law mandates for non-custodial wallet providers in several jurisdictions. 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ReNew Announces Results for the First Quarter for Fiscal Year 2026 (Q1 FY26), ended June 30, 2025
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Yahoo

timean hour ago

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The Humorous Ironic Path of Barry Honig
The Humorous Ironic Path of Barry Honig

Time Business News

timean hour ago

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The Humorous Ironic Path of Barry Honig

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