Good morning. It’s hot everywhere. There are also floods and wildfires. I don’t know about you, but I think the climate is changing.

In today’s email:

• Extreme amounts of extreme weather

• Wineries learn to adapt to wildfire risk

• Michigan commits $11B to clean energy.

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BIG DEAL

Everything everywhere all at once

Climate risks are becoming increasingly expensive globally and locally, even in locations previously seen as disaster-resistant.

Driving the news: Extreme heat waves are straining power grids and causing business closures, with over 100 million Americans feeling the impact.

• The Western United States faces an intense heatwave due to a persistent heat dome, with Death Valley, California reaching 128°F

• Heat warnings extend from the Pacific Northwest to the Deep South and Florida.

• Phoenix endures an unprecedented streak of scorching days.

• Montpelier, Vermont experienced devastating flooding last week, with flash flooding risks ongoing in Pennsylvania.

Not just the US: The entire Northern Hemisphere is getting slammed with extreme weather.

• A European heatwave, unofficially named Cerberus, will drive temperatures up to 49°C (~120°F) in as many as 16 Italian cities.

• High river temperatures in France will lead to limited energy output from nuclear power plants along the Rhone River due to safety issues.

• Major tourist destinations are being impacted, with wildfires spreading through Spain and Croatia, and Greece temporarily closing the Acropolis due to high temperatures.

Why it's happening: Extreme weather events during summer indicate disruptions in the climate system.

• Heatwaves are becoming more frequent and intense, likely due to a slow-moving jet stream pattern known to favor heat.

• El Nino, in addition to human-caused warming, is also emerging to cause “knock on heat” around the world.

Why it matters: These events pose risks to life and infrastructure even at current levels of warming. And now natural disasters are popping up in unexpected places.

• Small businesses and individuals face financial and operational challenges, while power infrastructure limitations raise blackout risks.

• Rising home energy bills further strain individuals during heat waves, and disrupts various sectors, including dog training classes.

• Extreme events, whether it’s flooding in the Northeast US or heatwaves in Europe, impact the cost of insurance everywhere.

🔥 Hot take: This is just the tip of the iceberg. More heatwaves are likely this summer. Then hurricane season begins. The increased frequency of natural disasters is one of the more visible signs that something is changing, whether we’re all on the same page on what is causing it or not.

HOT TOPICS

News that matters

🍷 California wineries are tackling the aftermath of destructive wildfires by seeking innovative solutions. With future wildfires looming, winemakers are now exploring strategies to minimize the impact, including new research, technology, and improved land management. Smoke taint is a major concern, as it can ruin grapes and affect the taste of wine. Despite the challenges, vineyards can act as effective firebreaks while promoting smaller, controlled fires to prevent larger infernos. (ModernFarmer)

🧐 As clean energy investments surge, the definition of the "optimal" investment is evolving amid rising prices. Unpredictable factors in both demand and supply are pushing investors to rethink their clean energy goals. The Biden administration's climate initiatives could boost US wind capacity by 235% and solar capacity by 1,019% by 2050, driving up renewable energy prices. While the lowest levelized costs of energy (LCOEs) come from certain renewable options, such as utility-scale solar and wind with storage, comprehensive project evaluation that considers factors like location, interconnection costs, and transmission needs is now crucial. (Utility Dive)

🚃 The US is looking to boost public transportation with a $400 billion fund managed by the Loan Programs Office (LPO). While the LPO primarily supports new energy technologies and electric-vehicle manufacturing, it is now open to funding mass transit projects. With the recent IRA, the LPO's lending authority has been increased significantly. Companies interested in public transit funding can apply to the LPO, and if approved, the total funding could be up to $120 billion. (Bloomberg)

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CLIMATE DATA

States play a critical role in decarbonization

Economy-wide policies in leader states like Washington, New York, Massachusetts, and Colorado are making significant strides in combating climate change. Washington's carbon pricing program and Colorado's tax credits for clean technologies are putting their economies on track to surpass emission reduction targets.

However, more efforts are needed to achieve even more ambitious goals. While clean electricity and zero-emissions vehicle standards are driving progress, the building and industry sectors require innovative policies. New York's building performance standards and Colorado's promotion of clean hydrogen in industries are notable examples.

Market drivers such as coal retirements, EV adoption, and heat pump usage contribute to emissions reductions even in states with minimal climate policies. Renewable portfolio standards, clean electricity and zero-emissions vehicle standards, and building codes form the foundation for emissions reductions at the state level. (RMI)

DEBRIEF

• VSK Energy's solar joint venture will invest $1.5B in a U.S. solar manufacturing operation. They'll start with an initial $250M investment in a module factory in Colorado, with plans to expand to 4 GW capacity.

• Michigan utility DTE Energy commits $11 billion to clean energy construction, expediting the closure of its remaining coal plants. Falling costs and incentives like tax credits encourage utilities to accelerate green-energy adoption.

• Chinese automaker Nio introduces solid-state batteries, a first in the EV industry. The ES6 SUV will be the first model equipped with a 150 kWh pack supplied by WeLion, offering an impressive range of 578 miles.

• Brimstone's carbon-negative cement receives third-party certification as structurally and chemically equivalent to regular cement, overcoming the challenge of trust in eco-friendly alternatives.

• Chinese scientists are trying to protect melting glaciers on the Tibetan Plateau by covering them with reflective fabric. Purdue scientists have created an ultra-white paint that reflects up to 98% of sunlight, reducing surface and interior temperatures. It saves energy and cools buildings.

• CA Governor Newsom signs $311B budget with landmark clean energy approval reforms. Streamlined permitting and project reviews are expected to slash timelines by 3+ years and create jobs.

• Hawai'i leads the way in EV charging infrastructure as the first state to install federally-funded chargers. Other states such as Ohio, Pennsylvania, Alaska, Colorado, and the District of Columbia will soon follow.

• Norwegian company Kitemill's launched the first utility-scale airbone wind system. With a 16m wingspan and four propellers, it can generate an average of 100kW and set an endurance record of 500km in five hours.

• Mountain Valley Pipeline seeks Supreme Court intervention to overturn construction halt imposed by appeals court.

• Environmentalists clash with themselves. Concerns arise about losing farmland and forests to solar projects, while others fear restrictive rules will hinder climate action.

ACCLIMATE RECS

Dive deeper

New Research Rooted in Behavioral Science Shows How to Dramatically Increase Reach of Low-Income Solar Programs. The gift of a one dollar bill, plus a referral slip with a stamped envelope, leads to a big increase in success for a California nonprofit. (Inside Climate News)

Beyond the yuck factor: Cities turn to ‘extreme’ water recycling. San Francisco is at the forefront of a movement to recycle wastewater from commercial buildings, homes and neighborhoods and use it for toilets and landscaping. (GreenBiz)

Disaster towns: Victims of environmental catastrophes — and Americans’ short attention spans. (E&E News)

Will the U.S. get green hydrogen right? One decision has big climate implications. (Renewable Energy World)

Why Acclimate? The global economy needs to acclimate to a new reality, like a hiker conquering a Colorado 14er.

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As always, thanks for reading, and see you next time.

—Rick Jarrell, Founder of Acclimate