Together with Pact - Earth’s Favorite Clothing

Welcome back, climate leaders.

➡️ There’s still time to complete our subscriber survey and help build the future of Acclimate. It’ll only take a few minutes, I promise. 🙏🏼

In today’s edition:

• 🧑🏼‍🏭 IRA tax credits bring utility-scale storage manufacturing back to North America

• 🌾 Soil carbon startup lands $10.6m

• 🔥 Insurance claims for climate-related events trending toward $100B

Read time: 5 minutes

Was this email forwarded to you? Sign up here.

HOT TOPICS

1. 🧑🏼‍🏭 Onshoring: Freyr accelerates U.S. manufacturing due to the Inflation Reduction Act, leveraging promising tax credits. This solidifies the U.S. as a top utility-scale storage market, facilitating an estimated $86.3 billion in private investments.

2. ☀️ Solar installations: Post 2023 climate bill, the US is witnessing a solar boom, with installations at new places such as self-storage buildings and outlet malls. Over $100B worth of projects have been announced with solar forming 35% of all new utility-scale generation capacity.

3. ♻️ Reusable cup systems: r.Cup and Turn Systems are gaining popularity through city and venue collaborations. Aiming to reduce carbon footprints, U.S. cities and notable companies, like Delta Airlines, are transitioning from single-use to reusable cups.

4. 💵 Tax credits: New regulations for tax-credit transfers could propel a trillion-dollar surge in US clean energy investments over the next decade. Thanks to the Inflation Reduction Act, these credits can be purchased on the open market, greatly improving access and sparking a flood of new project funding.

5. ⛏ EV supply chain: Western companies are investing in Africa to create electric vehicle battery supply chains independent of China. Investments include a $100M BHP Group and Lifezone Metals nickel mine in Tanzania and a Zambia cobalt refinery backed by London's Vision Blue Resources.

TOGETHER WITH OUR SPONSOR

Discover Earth’s favorite clothing company

Dive into a world where fashion meets sustainability.

Our clothes aren't just stylish; they're a statement for the planet. Imagine wearing clothes that not only make you look good but also make you feel good about your choices.

Join the movement towards a greener future. Check out Pact and be a part of Earth’s favorite fashion revolution!

_{Please support our sponsors!}

TODAY’S DATA

$100B

Claims from weather-related incidents, linked to climate change, are on track to surpass $100 billion for the third consecutive year. Insurance giants Munich Re and Swiss Re report increasing coverage demand. (Bloomberg)

QUICK HITS

• Yard Stick raises $10.6m to measure the carbon held in soil, using it as a cheap carbon-removal option, potentially storing 2-4 billion metric tons annually. (link)

• California program offering $7,500 EV incentives becomes exclusive for low-income individuals. (link)

• Nikola has 209 electric trucks recalled due to coolant leaks causing fires, debunking previous "foul play" allegations. (link)

• High traffic overwhelmed Colorado's e-bike rebate application portal. Residents with varying income levels could secure rebates up to $1,100 by August 21. (link)

• Green Mountain Power and Motor's partnership enables Vermont customers to test drive electric vehicles, ensures home charger installation, and aids in enrolment to EV-specific rate plans. (link)

ACCLIMATE RECS

• Heat pumps can decarbonize food and beverage processing, but a report warns of bottlenecks

• Your cheat sheet to the climate law’s consumer incentives

• Montana’s landmark climate ruling: three key takeaways

• What are the potential impacts of e-bikes in parks across the National Park system?

• For climate tech startups, the IRA is starting to pay off

SUBSCRIBER SURVEY

We want to get to know you

Please take a few minutes to complete our subscriber survey. Everyone that completes the survey will be entered to win a $100 Patagonia gift card.

SHARE ACCLIMATE

Do you have coworkers, friends, or family that like news and insights on the clean energy transition? Share Acclimate and get rewarded.

Acclimate covers what’s driving the clean energy transition, and why. No doomerism. No information overload. Sign up here.

Send your feedback to [email protected] and help us stay focused on what’s driving the energy transition.

Interested in reaching readers like you? Advertise with us.

Talk soon,

- Rick Jarrell, Founder of Acclimate