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Miami Herald
2 days ago
- Automotive
- Miami Herald
EV Charger Installations Decline Amid Trump Criticism
The growth of high-speed electric vehicle charging infrastructure in the U.S. has hit a major speed bump. Installations dropped more than 21% in the first quarter of 2025 compared to the same period last year, according to BloombergNEF analysis of Energy Department data. Analysts say the sharp decline could threaten broader EV adoption just as the U.S. market needs to scale rapidly to meet climate goals and consumer demand. The dip in installations comes amid heightened political uncertainty. President Donald Trump has vowed to dismantle much of the Biden-era climate agenda, including the Inflation Reduction Act (IRA), which provides up to $7,500 in tax credits for EV buyers. Trump's allies in Congress have also proposed eliminating those credits, and his administration has already rolled back auto emissions standards and paused implementation of federally funded charging programs. That has led to a "negative feedback loop," says BloombergNEF analyst Ash Wang. "The uncertainty has automakers scaling back EV investments.". BloombergNEF has already revised its charging installation forecast for 2025 downward, from 360,000 new chargers to just 285,000. Although the bipartisan infrastructure law designated $5 billion for EV charging buildout, some states have halted or delayed projects tied to that money, citing the Trump administration's freeze on implementation. With federal momentum stalled and no clarity on whether tax credits will be preserved, private sector investment has also cooled. Wood Mackenzie analyst Emil Koenig noted that his firm's charging projections are still based on the existing EV credit, but even so, they've lowered expectations. "If the credit is repealed, it would materially affect our forecast," Koenig said. Beyond tax credits and infrastructure, analysts are also eyeing how Trump's tariffs on Chinese goods and foreign-sourced auto parts could further stifle EV momentum. About 35% of EVs sold in the U.S. last year were imported, and even some U.S.-assembled models rely heavily on global supply chains. Rising costs could kill or delay the launch of affordable EVs in the $25,000 range - models that are crucial for mass adoption. "Any delay in low-cost EV models will also materially set back charging infrastructure deployment," said Koenig. With more than 208,000 public EV charging ports currently online, the U.S. still lags far behind what's needed to support projected EV adoption by 2030. BNEF estimates that nearly 174,000 new charging points need to be added every year just to stay on track, assuming no new policies are introduced. Without continued federal support, experts warn, EV infrastructure could fall dangerously short, discouraging new buyers and risking a major setback in the transition away from fossil fuels. Copyright 2025 The Arena Group, Inc. All Rights Reserved.
Business Times
3 days ago
- Business
- Business Times
Top Thai wind power firm to fund 65 billion baht of spending with IPO
[BANGKOK] Thailand's largest wind power producer plans to spend 65 billion baht (S$2.6 billion) to almost triple its generation capacity over the next 12 years, and will go public to fund the expansion. Wind Energy Holding is targeting 2,000 megawatts of domestic installed capacity by 2037, from the current 700 megawatts, chief executive officer Nuttpasint Chet-Udomlap said in an interview in Bangkok. It's also exploring projects in the Philippines, he said. The closely held company will fund its growth with an initial public offering (IPO) on the Thai exchange, although that's currently in limbo while it resolves a legal issue, according to Nuttpasint. Wind Energy's net income and revenue both fell by more than a fifth in 2024. The wind generator's expansion plan dovetails with the Thai government's goal of adding around 16,000 megawatts of renewable power capacity, including atomic energy, from 2026 to 2037. That would take clean power in South-east Asia's No 2 economy to more than a third of the total, up from 23 per cent last year. 'Our expertise and specialist in wind energy will boost our leverage in the coming bids for the new projects,' Nuttpasint said. Wind Energy has acquired land and secured vendors to prepare for the government's new auctions, he said. Nopporn Suppipat, who founded the company in 2006, won a ruling in the UK court in 2023 to recover more than US$800 million over allegations he faced political pressure and was forced to sell his stock at a massive discount. Wind Energy has also had to go to a Thai court regarding its dividend payout in relation to those shares. The company will proceed with the IPO as soon as those disputes are settled, Nuttpasint said. He said he was closely following legal proceedings in Thailand, but had little knowledge about the progress of the court case in the UK. Outside of China, the wind industry has struggled in recent years due to rising costs for materials such as steel and cement. Annual additions outside China fell to 36 gigawatts last year, the lowest since 2019. The sector may rebound in 2025, with ex-China installations expected to rise 44 per cent, according to BloombergNEF. BLOOMBERG
Bloomberg
3 days ago
- Business
- Bloomberg
Weathering the Storm: Climate Risk Stress Tests
Extreme weather has always meant extreme risks for businesses and investors. Yet climate change has varied the calculus, and many businesses are facing new, potentially existential risks as the world and the energy transition heat up. As such, central banks and financial supervisors have begun conducting climate risk stress tests, to ensure these institutions are capable of mitigating the potential impacts of a changing climate. But what do these tests entail, which markets have been the most proactive in conducting them, and what exactly is 'climate risk' anyway? On today's show, Tom Rowlands-Rees is joined by Tifenn Brandily, BloombergNEF's head of transition risk and alignment, and special guest Edo Schets, Bloomberg's head of climate, nature and regulatory financial solutions, to discuss findings from the note 'Climate Risk Stress Test Review'.
Malaysian Reserve
3 days ago
- Politics
- Malaysian Reserve
Nuclear plant shutdown leaves Taiwan facing energy crunch
Lack of long-term waste storage and Japan meltdown fuelled opposition to atomic power by SING YEE ONG & CINDY WANG IN 1996, a rust-streaked freighter carrying barrels of nuclear waste attempted to dock at Orchid Island off the south-east coast of Taiwan. It never made it to shore. Hundreds of residents, mostly from the island's indigenous community, blocked the vessel with fishing boats and rocks, forcing it to turn back. It was the last time nuclear waste was sent there. 'I told them, if they insisted on coming in, we would burn the ship that night,' recalled Kuo Chien-ping, one of the movement's leaders. Onshore, residents armed with rocks and bottles they claimed were filled with gasoline — it was actually water — lined the pier prepared to defend their island, also known as Lanyu. 'It was the first time the government really listened to us,' said Syaman Lamuran, whose entire family joined the protest. 'Everyone was there. Even my mother, barely 5ft tall, was clutching a stone.' That defiant moment — part resistance, part reckoning — helped shape Taiwan's decades-long retreat from nuclear energy. The island shut its last reactor on May 17, the culmination of a phaseout strategy that threatens Taiwan's energy-guzzling chip industry and its security as tensions with China rise. The move also runs counter to the growing global appetite for atomic power, especially in nations racing to fuel artificial intelligence (AI) infrastructure and meet climate change emissions targets. Taipower power plant on Orchid Island. The island derives energy from diesel and gets no electricity from nuclear plants Costly Decision Taiwan's decision comes with a steep price. The final reactor shutdown, the sixth since 2018, takes place just as power demand is projected to rise 13% by the end of the decade, largely driven by data centres and chipmakers. Each shuttered reactor adds about US$500 million (RM2.19 billion) in annual liquefied natural gas (LNG) import costs, according to Bloomberg calculations. Taking into account energy demand growth, Taiwan may need to spend around US$2 billion more per year on LNG purchases by 2030, according to a BloombergNEF analysis. Already, companies like Taiwan Semiconductor Manufacturing Co, or TSMC, face soaring electricity bills, with rates on the island surpassing those at their overseas plants. That's why nearly three decades since that standoff on Orchid Island, smaller and less hostile protests have been organised in downtown Taipei, this time in support of keeping the Maanshan nuclear plant on Taiwan's southern tip online. Over a hundred activists, including lawmakers and staff from state-utility Taiwan Power Co (Taipower), stationed themselves outside the Ministry of Economic Affairs early this month and raised red banners reading: 'The wrong policy will destroy Taipower.' Rising fuel costs and renewable energy (RE) investments have weighed on the finances of Taipower, the island's primary power supplier. The state utility, which has absorbed higher costs to keep prices affordable, reported over NT$420 billion (RM61.18 billion) in accumulated losses by the end of last year. That's putting pressure on the government to increase power rates for businesses and households. 'Taipower can only stop having losses if it extends the life of nuclear plants', because those facilities don't operate at a loss, said Java Yang, a Taipower worker and organiser of the May 1 pro-nuclear demonstration. 'We lost lots of money because the price of natural gas has surged, and we paid too much for RE.' There have been signs that the govern- ment is softening its stance. Taiwan's legislature revised a nuclear power bill on May 13 that effectively opens the door for a restart of the island's atomic plants by renewing or extending licences for up to 20 years, but it isn't clear if the central government will push forward with that strategy. For now, it's too late to halt the closure of Maanshan, which is hitting its 40-year operational limit. Premier Cho Jung-tai said it could take 3.5 years to safely restart a closed plant, citing an estimate from Taipower. Nevertheless, one of Taiwan's opposition parties said it intends to hold a public referendum on resuming operations at the plant in August. A similar vote in 2021 narrowly cemented the closure of one nuclear plant. This time could be different. 'Taiwan's public opinions seem to indicate that this referendum will definitely pass,' said Chang Chi-kai, a lawmaker from the Opposition Taiwan People's Party. 'The Referendum Act stipulates that when a referendum passes, the government has the responsibility and duty to implement it.' Nuclear waste treatment plant on Orchid Island. Lacking permanent disposal site, govt faces pressure to cut nuclear reliance Economic and Security Risks Starting in the early 1980s, shipping nuclear waste for storage on Orchid Island was standard practice, though most local residents weren't initially told what was happening. But following the highly-publicised protests nearly three decades ago, no other Taiwanese town was willing to accept the shipments. High-level waste, like spent fuel from reactors, was just stored on site at nuclear plants. With no permanent waste disposal site, the government was under increasing pressure to reduce atomic generation. Then came the 2011 Fukushima disaster in Japan — a magnitude 9.0 earthquake off the coast severely damaged the Fukushima Dai-ichi power plant, leading to a partial meltdown that released radiation into the surrounding air, water and soil. It was the worst nuclear accident since Chernobyl. That calamity — accompanied by a devastating tsunami — was the final nail in the coffin for Taiwan's nuclear industry. 'Taiwan has many geographical faults and we have a lot of earthquakes, so the risk of an accident happening here is higher,' said Tsai Ya-ying, a lawyer at Wild at Heart Legal Defence Association. 'One nuclear accident can be considered the end of Taiwan.' Following a decisive 2016 election victory, the Democratic Progressive Party cemented a complete nuclear phaseout into law. At the time, the goal was for Taiwan to accelerate the deployment of wind and solar to replace nuclear. But the island has fallen short on those goals. Initially targeting 20% renewables by mid-decade, the government downgraded its goal to 15% by 2025. As of late 2024, renewables made up less than 12% of the energy mix, according to Taiwan's energy administration. To maintain a stable power supply, Taipower is adding nearly five gigawatts (GW) worth of gas-fired capacity to the grid this year, equal to roughly five nuclear reactors. Taiwan's power supply will be stable through at least 2032, Premier Cho said last month. 'New electricity consumption has been taken into consideration, and the addition of new units is larger than decommissioning to ensure a stable power supply,' Taiwan's energy administration added. Removing nuclear from the energy mix will raise power generation costs by NT$100 billion annually, according to Chang, the Opposition lawmaker. Also at risk are green goals: Taiwan aims to reduce its emissions by about 38% in 2035 from 2005 levels. TSMC expects to hit peak carbon emissions this year. Following the reactor shutdown on May 17, Taiwan will derive roughly 84% of its electricity from fossil fuels — up slightly from 2024. Nuclear contributed about 5% of electricity generation in 2024, down from 20% in the early 2000s. While nuclear generates toxic long-term waste, it produces almost no greenhouse gas (GHG) emissions, unlike coal and gas. Global Trend 'If we phase out nuclear, our carbon emissions will spike,' warned Eugene Chien, a government advisor who heads the Taiwan Institute for Sustainable Energy, or TAISE. He noted that environmental concerns are pushing more citizens to reconsider nuclear energy. In November, a TAISE poll showed 58% of respondents supported nuclear power, while 23% opposed it. That's an increasingly global trend. Even Japan has moved away from its decision to shut down nuclear plants — last month its atomic watchdog approved the first nuclear restart since 2021. Nations from the US to Belgium are taking similar steps. Moreover, Taiwan's reliance on seaborne LNG shipments to fill the gap doesn't just heighten environmental concerns — it creates a strategic vulnerability amid rising tensions with China, which considers the self-governing island to be part of its territory. A Chinese blockade could prevent deliveries and quickly drain gas reserves. With just 11 days of gas storage, Taiwan faces a serious risk if shipments are disrupted by conflict or disaster, Chien said. Even with pockets of support for nuclear emerging on Orchid Island, many of its roughly 5,000 residents remain wary, fearing links between the waste and health issues, including cancer and deformities in local fish. While earlier protests succeeded in halting new waste shipments, efforts to move the existing waste have largely stalled. 'I've fought for 30 years,' said Kuo from Orchid Island. 'How many 30 years do we have in life? I am still fighting.' — Bloomberg This article first appeared in The Malaysian Reserve weekly print edition
The Hill
3 days ago
- Business
- The Hill
What could the ‘big, beautiful bill' mean for power prices?
The Big Story The legislation guts massive subsidies for climate-friendly energy sources, including wind and solar power. © Gerry Broome, Associated Press file Provisions slashing energy subsidies are expected to have significant ramifications on not only the nation's greenhouse gas emissions but also energy prices. A recent analysis from BloombergNEF said that a repeal of the green tax credits would result in 17 percent less renewable construction. It said that the cut, combined with growing electricity demand, is 'a recipe for spiking power prices.' Ethan Zindler, policies and countries analyst with BloombergNEF, said that for analysis purposes, the changes made in the House bill are akin to a full repeal. 'The tax code at the moment helps to reduce the cost of electricity for consumers from renewables, which today account for the vast majority of what gets added to the grid,' he said. 'If you remove those supports, then developers will simply seek to charge more, and in a number of cases, utilities will be forced to pay more, and those costs will flow through to consumers.' Several analyses estimate that electric bills could rise noticeably as a result. A Rhodium Group estimate has found that keeping the tax credits in place could save consumers 2 to 4 percent on their electric bills in 2030 and 2 to 5 percent in 2035. Aurora Energy Research has found that removing the tax credits will increase electric bills by an average of 10 percent — or $142 per year — by 2040. Read more about the bill's overall impacts from colleagues and me at Welcome to The Hill's Energy & Environment newsletter, I'm Rachel Frazin — keeping you up to speed on the policies impacting everything from oil and gas to new supply chains. Did someone forward you this newsletter? Subscribe here. Essential Reads How policy will affect the energy and environment sectors now and in the future: Louisiana Republicans help kill anti-fluoride bill Republicans in the Louisiana House stifled a proposal on Wednesday that would have banned the addition of fluoride in public water systems — rejecting a burgeoning movement backed by Health and Human Services Secretary Robert F. Kennedy Jr. Bipartisan proposal would make looting a felony during disasters A new bipartisan bill aims to crack down on looting during natural disasters by making theft a felony in areas under federal disaster declaration. Antirenewable bills die quietly in GOP-controlled Texas Legislature A slate of bills targeting the Texas renewables industry are now doomed after missing a key deadline in the state House. In Other News Branch out with a different read from The Hill: RFK Jr. may bar government scientists from publishing in medical journals Health and Human Services (HHS) Secretary Robert F. Kennedy Jr. said he will ban government scientists from publishing in leading medical journals and proposed creating an 'in-house' publication by the department. What We're Reading News we've flagged from other outlets touching on energy issues, the environment and other topics: GOP tax bill will clear Senate 95% intact, House chairman predicts (The Washington Examiner) BLM official escorted out of building after DOGE conflict (Politico) What Others are Reading Two key stories on The Hill right now: Trump pardons former GOP Rep. Michael Grimm amid clemency spree President Trump on Wednesday took a slew of clemency actions, including pardoning former Rep. Michael Grimm (R-N.Y.) and commuting the sentence of a former Chicago gang leader. Read more Trump responds to TACO trade criticisms: 'You call that chickening out?' President Trump on Wednesday bristled when asked about a new Wall Street term based on his tendency to reverse his tariff threats, defending his approach and dismissing the question as 'nasty.' Read more Opinions in The Hill Op-eds related to energy & environment submitted to The Hill: Thank you for signing up! Subscribe to more newsletters here
