Is Walmart’s Net Zero Emissions Target Slipping Away?

Walmart

Walmart was the first U.S. retailer to make a zero-emissions commitment by 2040, without relying on carbon offsets. However, the company’s latest news release revealed that the retail giant is most likely to miss its greenhouse gas emissions targets. It aimed to cut absolute scope 1 and 2 GHG emissions by 35% by 2025 and by 65% by 2030 from 2015 levels. But these numbers now look foggy.

The company revealed,

“We anticipate achieving our near-and mid-term emissions reduction targets later than our 2025 and 2030 target dates.”

Walmart’s Operational Emissions: Gains and Setbacks

By the end of 2023, Walmart reduced its operational emissions (Scopes 1 and 2) by 19.3% compared to its 2015 baseline. Its carbon intensity declined by an impressive 45% in the same timeline. But despite these long-term gains, annual emissions in 2023 increased by 3.9%. This rise became the reason behind Walmart pushing its pre-determined target. 

Most importantly, it showcased the challenges of balancing commercial expansion with sustainability.

WalmartSource: Walmart

What Slowed Walmart’s Progress?

Coming to the analysis directly, external factors played a significant role in stalling the retail giant’s sustainability journey. The three factors that Walmart has cited led to the rise in emissions were:

  1. Pollution from old and aging refrigeration equipment
  2. Fuel emissions from transportation in the U.S., including fleet expansion and third-party route changes.
  3. Slow adoption of renewable energy compared to its business growth.

Out with the Old, In with the New

The company has realized that achieving its net zero goals won’t be a straight path. There will be inevitable hurdles due to business growth and external factors. While the company will continue with its 2040 net zero emission goals, its interim targets might take longer to achieve.

Walmart’s statement stressed that curbing emissions relies on policies and infrastructure across global markets. For instance, reducing refrigeration emissions and HVAC systems or reducing emissions in heavy transportation require systemic solutions.

Additionally, broader sectoral shifts in transportation, materials, and agriculture can significantly reduce value chain emissions.

walmart emissionSource: Walmart

Renewable Energy Adoption

Walmart wants to power 50% of its operations with renewables by 2025 and 100% by 2035. Notably last year, 48% of its electricity came from renewable sources, with 30% directly procured through contracts.

The strategies to further bring down Scope 2 emissions are:

  • Add 1 GW of solar and storage capacity by 2030, building on 600 projects already in progress.
  • Since 2020, Walmart has facilitated over 2 GW of renewable projects through Power Purchase Agreements and is exploring international investments.

The company also reached a major milestone with its flagship “Project Gigaton” through which it aims to mitigate 1 billion metric tons of emissions in its value chain by 2030. The best part they achieved it six years early. Notably, the company credits supplier partnerships and continued innovation for this success.

Despite progress, achieving these goals depends on accessing renewable capacity, especially in international markets with regulatory challenges. The company is working to unlock opportunities but faces uncertainties in some regions.

Tackling Refrigerant Emissions

Refrigerant emissions accounted for 55% of Walmart’s Scope 1 emissions in 2023 mostly due to leaks in aging equipment. To address this, Walmart is working on:

  • Annual preventive maintenance of the equipment, technician training, machine learning for detection of leaks, and reusing gases.
  • Upgrading systems by transitioning to low-GWP refrigerants in new and existing facilities. Over 290 U.S. locations now use ultra-low GWP alternatives like CO2 and ammonia.
  • Advocating policy changes and supporting legislation to phase out high-GWP refrigerants.

These efforts are a part of their continued progress aligned to equipment upgrades and technology availability.

walmartSource: Walmart

Supporting EV Adoption

Walmart plans to build an EV fast-charging network at thousands of U.S. stores and Sam’s Clubs by 2030. This will be an addition to its existing 1,300 chargers at 280 locations. The company’s stats show that with 90% of Americans living within 10 miles of a Walmart, the initiative will make EVs more accessible and convenient.

Drivers can shop while charging- which shows how convenient that would be for customers. Additionally, they are testing zero-emission vehicles in its supply chain, with EV deliveries already in place for many customers.

Thus, despite challenges related to a possible delay in achieving its net zero emissions target, Walmart stays committed to its 2040 goal. This will require affordable low-carbon solutions, strong policies, and better infrastructure for a sustainable future.

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Oklo and Switch Make History with 12 GW Nuclear Power Agreement

oklo switch nuclear

Oklo, one of the top advanced nuclear companies, and Switch, pioneering in the data center and AI eco-system have signed a historic corporate power agreement to deploy 12 gigawatts of Oklo Aurora powerhouse projects through 2044. Considering its scale, they call it the “Master Power Agreement” which builds the framework for collaboration. Both companies will finalize the binding agreements after achieving the project milestones.

Jacob DeWitte, Co-Founder and CEO of Oklo expressed his sentiments by noting,

“We are excited to collaborate with Switch on this historic agreement,” “Rob Roy and the Switch team share the vision we have for nuclear energy’s role in powering artificial intelligence and providing the world with energy abundance. Oklo expects to benefit enormously from Switch’s record of turning visions into reality. The lifespan of this Master Agreement will allow us to iterate and evolve with Switch, from development to deployment to scaling. We believe that working with Switch will not only accelerate our early powerhouses but also accelerate our ability to scale by demonstrating customer demand for decades to come.”

Unlocking the Oklo-Switch Master Power Agreement

The press release highlighted that since January 2016, all Switch data centers have run on 100% renewable energy, totaling nearly 984 million kilowatt-hours yearly. The Master Agreement with Oklo will help Switch create a sustainable infrastructure and boost the market for renewable energy.

Now talking about Oklo, the nuclear giant, is aptly showcasing its business model through this Master Agreement. It aims to simplify access to clean energy by selling power and not power plants. The outcome will be customers getting a direct, flexible pathway to clean, reliable, and affordable advanced nuclear energy.

 Rob Roy, Founder and CEO of Switch said, 

“The relationship with Oklo underscores our commitment to deploying advanced nuclear power at a transformative scale for our data centers, further enhancing our offerings of one of the world’s most advanced data center infrastructures to current and future Switch clients. By utilizing Oklo’s powerhouses, we aim to ensure that Switch remains the leader in data center sustainability while supporting our vision of energy abundance.”

Switch: Redefining Data Centers with Innovation and Sustainability

Switch, founded in 2000 by CEO Rob Roy, is a game-changer for top design, infrastructure, and operator of advanced data center campuses. The company is creating modular, scalable, and sustainable data centers that support AI, cloud, and enterprise clients.

Their advanced solutions range from liquid-cooled AI systems to hyperscale cloud and ultra-secure enterprise data centers. One of their blueprint systems includes the Switch EDGE which is the world’s first and only Class 4 system + system, air-transportable edge data center platform. These designs sustain low-latency performance and unmatched reliability.

The Switch MOD®: Customizable and Scalable Solutions

Another prototype is Switch’s Modular Optimized Design (MOD®) data centers. They are built with the same high standards as its colocation facilities. These data centers can be customized to meet specific client needs and are scalable for future growth.

SWITCH

The MOD® design incorporates Rob Roy’s patented innovations, including 100% Hot Aisle Containment Chimney Pods and Multi-Mode HVAC Units. These features ensure optimal efficiency, reliability, and security. Switch also manufactures these components through exclusive license agreements, making them uniquely available to its clients.

GREEN Initiatives

The company is committed to sustainability and helps clients achieve their environmental goals through its Switch GREEN initiatives. Notably, all Switch data centers run on 100% renewable energy, giving clients instant credibility for their ESG (Environmental, Social, Governance) strategies. Clients also receive 100% green Renewable Energy Credits (RECs) that support their sustainability efforts.

Switch believes that through their innovative designs and green energy solutions they can power the future of data centers while protecting the planet.

Source: SWITCH

Oklo’s Nuclear Edge: Revolutionizing Clean Energy

Oklo, the California-based nuclear tech powerhouse, is revolutionizing clean energy with its innovative nuclear technology. The company is developing advanced nuclear power plants that run on nuclear waste to provide reliable, affordable, and scalable energy solutions.

The company received clearance from the U.S. Department of Energy (DOE) and Idaho National Laboratory (INL) to proceed with site characterization for its first commercial fission power plant in Idaho.

Earlier, it had secured a site use permit from the DOE to access fuel material from INL and submitted the first custom combined license application for advanced fission to the U.S. Nuclear Regulatory Commission.

Expanding Innovation with Atomic Alchemy

Recently Oklo announced plans to acquire Atomic Alchemy Inc. in an all-stock transaction. Atomic Alchemy has signed a Memorandum of Understanding (MOU) with Zeno Power Systems, a leader in Radioisotope Power Systems (RPSs).

In this partnership, Atomic Alchemy plans to provide Zeno Power with radioisotopes like strontium-90 (Sr-90) and americium-241 (Am-241). These materials are essential for powering Radioisotope Thermoelectric Generators, also known as “nuclear batteries.” These systems are ideal for remote or off-grid locations, including space and underwater missions. The radioisotopes can be produced as byproducts from Oklo’s recycling process units.

Thus, Oklo’s mission to lead in delivering clean, sustainable energy by harnessing advanced nuclear technologies is clear. With sustainable partnerships like that with SWITCH, nuclear energy can revolutionize the AI and datacenter universe. 

More Power per Punch: Nuclear Energy Outshines Fossil Fuels

carbon credits

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Voluntary Carbon Market Growth: Nature-Based Credits Double Xpansiv CBL Trading Volume

VCM Soars, Nature-Based Credits Spark Doubling of Xpansiv CBL Trading Volume

The voluntary carbon market (VCM) saw a sharp rise in activity during November as reported by Xpansiv. CBL’s N-GEO standardized contracts and project-specific nature credit trading nearly doubled trading volumes month-over-month. 

Xpansiv runs the largest spot exchange for environmental commodities, such as carbon credits and renewable energy certificates, and excels in registry services for energy and environmental markets.

Trading Doubles as Market Shifts Toward High-Quality Nature Credits

Over 600,000 tons of over-the-counter (OTC) block trades were settled under CBL’s N-GEO and N-GEO Trailing Vintage contracts, with prices ranging from $0.30 to $4.10 per metric ton.

This surge reflects seasonal trends observed last year when November transactions accounted for 8% of the year’s total, doubling October’s volume.

  • By mid-December 2024, over 2 million tons had already been traded, representing 16% of the year’s activity. 

The market appears poised to match December 2023’s high trading levels, where 31% of the year’s volume was processed.

November also marked the debut of a significant upgrade to CBL’s trading capabilities: the introduction of carbon removal credits as a distinct market segment. This new feature allows market participants to view and trade these credits separately, improving transparency and flexibility.

Complementing this initiative is the enhanced Xpansiv Connect portfolio management system. It supports the full lifecycle of removals, carbon, and renewable energy credit positions. By integrating these capabilities, Xpansiv aims to streamline trading operations and portfolio oversight for participants.

Early adoption of the removals segment has been promising, with 6 firms, including project developers Anew and c2invest, listing RMV-tagged credits on the exchange. Anew notably posted 75,000 U.S. forestry project removal credits, signaling strong support for this market innovation.

Market Activity Breakdown: November 2024

Nature Credits Take the Lead

Nature credits continued to dominate VCM activity in November. Over 60,000 recent vintage Asian reforestation credits were traded, with prices ranging between $25.00 and $42.00. 

Xpansiv most active VCM credits November

The volume-weighted average price (VWAP) for AFOLU (Agriculture, Forestry, and Other Land Use) credits surged from $3.76 in October to $9.54 in November. This indicates a growing demand for these high-quality, nature-based solutions.

However, other sectors saw sharp declines in carbon prices:

  • Energy credits fell from $1.47 in October to $0.84.
  • Industrial waste credits dropped from $2.25 to $0.50.
  • Miscellaneous credits declined from $4.01 to $1.06.

These trends suggest a shift in market preference toward nature-based solutions, particularly reforestation projects, which align with sustainability goals and deliver co-benefits such as biodiversity conservation.

Standardized GEO Contracts See Mixed Results

CBL’s Standardized Global Emissions Offset™ (GEO®) contracts experienced significant price fluctuations in November. The VWAP for block trades under the N-GEO contract dropped from $18.10 in October to just $0.77.

This decline partly reflects the types of AFOLU credits traded via the N-GEO contract. In October, the highest-priced N-GEO trade was $26.60, whereas November’s peak was $4.10. 

  • Interestingly, project-specific AFOLU trading hit a new high, with the most expensive credit selling for $42.00 in November, compared to $27.50 in October.

The disparity underscores the evolving market dynamics, where project-specific trading often commands a premium over standardized contracts due to unique attributes and localized benefits of individual projects.

Bid and Offer Highlights

As of late November, market participants placed several significant bids and offers:

  • Renewable energy and AFOLU credits below $1.00 accounted for nearly 400,000 tons of activity.
  • Additional bids for 175,000 tons of renewable energy and older AFOLU credits from Mai Ndombe, Southern Cardamom, and Kasigua were priced between $0.25 and $0.30.

These low-price bids reflect continued interest in older and less premium credits, though the market’s overall focus seems to be shifting toward higher-quality, higher-priced credits, particularly in the nature-based and removal segments.

Is This a New Era for the Voluntary Carbon Market?

The November surge in Xpansiv’s voluntary carbon market activity signals a robust close to 2024. CBL’s efforts to innovate with removal credits trading and enhanced portfolio tools have positioned it to meet the growing demand for transparency and efficiency in environmental markets.

The sharp rise in AFOLU credit prices and the growing popularity of removals reflect the market’s potential to scale impactful projects. With over two million tons traded by mid-December, the VCM is not only demonstrating resilience but also showing signs of maturation, as participants increasingly prioritize quality over quantity.

As market preferences evolve, nature-based credits and removal projects are gaining prominence, attracting higher prices and increased trading volumes. This trend aligns with global efforts to prioritize high-quality solutions that not only offset emissions but also contribute to broader environmental and social benefits.

Is this market activity signal a new era for carbon markets in 2025? Let’s keep watch. 

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Canada’s 2035 Emissions Reduction Goal: Everything You Need to Know

Canada

Combating climate change has become a significant agenda in all nations’ developmental pathways. To address this challenge, Canada has set a new greenhouse gas (GHG) emissions reduction target for 2035, aiming to slash emissions by 45–50% below 2005 levels.

This reformed target modifies its existing 2030 climate goals, which entailed reducing GHG emissions by at least 40–45% below the same baseline. Through this announcement, the Canadian Government wants to maintain continuity and momentum in its climate efforts. Significantly, it also demonstrates the country’s commitment to tackling the climate crisis while aligning with the emerging global carbon markets and fostering economic growth.

Crafting Canada’s 2035 Climate Blueprint

Canada’s 2035 emissions target was shaped by expert insights, scientific research, and collaboration. The government relied on the latest science, international climate agreements, Indigenous knowledge, and advice from the Net-Zero Advisory Body to guide its decision.

To ensure the target reflected the needs of all Canadians, the government sought input from provinces, territories, Indigenous communities, and other stakeholders. Furthermore, the government allowed Canadians to share their thoughts on climate action and the level of ambition needed through surveys and submissions.

The news release noted that approximately 11,000 people shared their opinions through an online public engagement portal launched in spring 2024. The government also received over 23,000 comments and 100 written submissions. Insights from the Canadian Climate Institute further contributed to shaping this decision.

Throughout the process, household affordability remained a key priority, ensuring the target was both practical and achievable.

Two Laws Driving Canada’s Net-Zero Journey

Canada’s journey to achieving net-zero emissions by 2050 is guided by two key commitments, the Paris Agreement and the Canadian Net-Zero Emissions Accountability Act (CNZEAA).

Internationally, the Paris Agreement requires Canada to set ambitious Nationally Determined Contributions (NDCs). These targets aim to keep global temperature rise well below 2°C compared to pre-industrial levels, with efforts to limit it to 1.5°C.

On the other hand, the CNZEAA ensures the government sets 5-year national emissions reduction targets, at least ten years in advance, along the roadmap to net-zero emissions by 2050. This means Canada’s next target must be established by 2025.

Canada net zero emissionSource: Government of Canada

Bending the Emissions Curve: Canada’s Success Stories

Canada is progressing steadily in its journey to reducing greenhouse gas emissions. While challenges remain, the country’s climate strategy is showing promising results.

The government gives credit to its citizens who have been contributing to the economy that has become less carbon-intensive as compared to 2005. In 2015, projections indicated emissions would rise by 9% by 2030 compared to 2005 levels. However, the emission curve is seen to move downward due to initiatives like improving energy efficiency, transitioning to cleaner energy grids, and implementing carbon pricing.

The Green Municipal Fund

This program is an initiative of the Federation of Canadian Municipalities funded by Environment and Climate Change Canada and Natural Resources Canada and has enabled over 2,300 sustainability projects. Their efforts have avoided more than 2.9 billion tonnes of greenhouse gas emissions. Notably, the program’s impact was highlighted in a Senate report emphasizing the need for expanded initiatives to help municipalities adapt to climate challenges.

Carbon Pollution Pricing

Canada’s carbon pollution pricing is a proven tool for reducing emissions. Between 2019 and 2021, this approach reduced 18 megatonnes of emissions that would have otherwise been released. By 2030, carbon pricing is expected to contribute to one-third of Canada’s total emissions reductions.

Clean Jobs

In 2021, the environmental and clean technology products sector employed over 314,000 workers, marking a 6.5% increase from 2020.

Canada’s progress also includes core regulations like the Clean Electricity Regulations and the Electric Vehicle Availability Standard. Incentives such as the Canada Carbon Rebate and the Canada Greener Homes Initiative make adopting net-zero technologies more affordable for businesses and individuals.

Economic Opportunities in the Clean Transition

The shift to a clean economy offers significant opportunities and Canada is on the right track to lead in green innovation and attract investment.

  • Canada ranks 2nd on the Global Cleantech 100 and 3rd in hydroelectricity production, hosting 20% of global CCUS projects.
  • Achieved renewable energy growth with daily launches of hydro, wind, biomass, biofuel, and solar projects.
  • Attracted $71B in FDI since 2013 and has funded 177 clean energy projects, creating 28,000 jobs.

Furthermore, Canada’s clean electricity, known for being reliable and affordable, is a major competitive advantage. Businesses and industries worldwide recognize its value, drawing investors and creating jobs across the country. In 2021, Canada’s clean technology market was valued at $34 billion, with $9.1 billion in exports.

Supporting Workers and Communities

The new 2035 target report has stressed that the government will ensure Canadians have the tools and support needed to sustain this economy. Core programs, such as the Canada Greener Homes Initiative, help individuals and businesses transition to sustainable technologies. Although these technologies may have higher upfront costs, they offer long-term savings and significant emissions reductions.

As Canada advances sectoral transformation, workers will benefit from new opportunities in clean energy and technology. The transition will position the country as a global leader in green innovation.

A Pledge to Protect and Lead

By 2025, Canada will submit this target as its NDCs under the United Nations Framework Convention on Climate Change. Within the following year, the government will outline the key actions required to meet the goal. By December 2029, a detailed 2035 Emissions Reduction Plan will lay out the specific policies and initiatives to achieve the target.

It is now evident that the 2035 emissions reduction target is a bold commitment to drive real change. It’s a pledge to protect Canadians from climate threats like wildfires, floods, and extreme weather. Simultaneously, it strengthens Canada’s global leadership in clean energy and paves the way for a more resilient net zero future.

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Crusoe Energy’s $600M Raise Fuels AI Revolution with Clean Energy Data Centers

Crusoe Energy's $600M Raise Fuels AI Revolution with Clean Energy Data Centers

Crusoe Energy Systems, a clean energy and AI infrastructure innovator, has raised $600 million in a Series D funding round, propelling its valuation to $2.8 billion. The company receives backing from prominent investors like Founders Fund, Nvidia, and Fidelity. With this funding, Crusoe is set to address the growing energy needs of artificial intelligence (AI) while prioritizing sustainability.

From Flaring to AI: How Crusoe is Scaling Clean Energy Data Centers

Founded in 2018, Crusoe began by tackling natural gas flaring—an environmentally harmful process where excess gas like methane is burned at oil sites. Using its Digital Flare Mitigation technology, Crusoe converted waste gas into energy to power small, containerized data centers. This approach reduces methane emissions while offering oil and gas companies a reliable, cost-free alternative to routine flaring.

  • According to the company, 1 Crusoe DFM-powered GPU reduces emissions by ~4.4 carbon dioxide equivalent metric tons per year.

Initially focused on cryptocurrency mining, the company has since shifted to AI-driven workloads, building clean energy data centers designed for the immense computational demands of machine learning (ML) and generative AI.

The recent funding round fuels Crusoe’s vision of building vertically integrated, AI-focused data centers powered by clean energy. A flagship project in Abilene, Texas, developed in partnership with Blue Owl Capital and Primary Digital, exemplifies this mission. 

This facility, spanning 998,000 square feet, is capable of housing up to 100,000 GPUs and delivering over 1.2 gigawatts of power—enough to support the energy needs of approximately 700,000 homes.

Chase Lochmiller, co-founder and CEO of Crusoe, emphasized the importance of building the facility, noting that:

“We’ve designed this data center to enable the largest clusters of GPUs in the world that will drive breakthroughs in AI.”

Crusoe’s newly launched Crusoe Cloud platform extends its capabilities to developers and researchers globally. Designed specifically for AI and machine learning workloads, the platform provides high-performance computing power while aligning with the company’s sustainability goals. 

By leveraging stranded and waste energy, Crusoe ensures that its cloud services contribute to environmental preservation without compromising on performance.

Addressing AI’s Growing Energy Demands with Nvidia’s Support

The rise of AI technologies has spiked energy demands for data centers worldwide. According to the International Energy Agency (IEA), data centers consumed 460 terawatt-hours (TWh) of energy in 2022. This figure will double by 2026. 

According to an analysis by the Electric Power Research Institute (EPRI), data center energy use in the U.S. will double driven by AI.

US data centers power use under 4 scenarios EPRI analysis

SEE MORE: US Data Center Power Use Will Double by 2030 Because of AI

  • Global energy demands for computing are surging, with projections of over 38GW by 2030. Meanwhile, inefficiencies in energy use persist: 144 billion cubic feet of natural gas were flared in 2021 and data centers alone could consume over 8% of global electricity by 2030, up from just 1% in 2020, per the IEA data.

Major companies like Microsoft, Google, and Amazon have cited energy consumption as a key hurdle in their decarbonization efforts. Crusoe’s innovative model offers a sustainable solution by repurposing waste energy and incentivizing the development of new low-carbon power sources.

By using Digital Flare Mitigation (DFM) and Digital Renewable Optimization (DRO) technologies, Crusoe captures and converts natural gas that would otherwise be flared. It also strategically positions its computing workloads near renewable energy sources, reducing inefficiencies and emissions.

The $600 million Series D round reflects the industry’s confidence in Crusoe’s ability to balance energy efficiency and technological advancement. Key supporters include Nvidia, which sees Crusoe’s infrastructure as crucial for advancing AI. Other major players like Deloitte and Vast Data do the same.

Sean Liu, Partner at Founders Fund, remarked on the company’s work, noting that:

“Crusoe is reimagining AI infrastructure from the ground up to meet and exceed organizations’ demands, powering the next wave of innovation in a sustainable way.”

The Environmental Benefits of Crusoe’s Model

Crusoe’s approach addresses two critical challenges: 

  1. Reducing methane emissions and 
  2. Supporting high-performance AI infrastructure. 

Methane, a potent greenhouse gas, is often released during flaring, contributing significantly to climate change. By converting this waste into a productive energy source, Crusoe mitigates environmental harm while fueling technological progress.

In addition to natural gas, Crusoe taps into stranded and surplus renewable energy, further reducing reliance on traditional fossil fuels. The company’s operations span 9 U.S. states and 3 countries, including Iceland. And it has more than 15 gigawatts of clean energy projects in development.

Through its DFM tech in the U.S., Crusoe was able to avoid over 680,000 metric tons of GHG emissions. The infographic below further shows how the company’s DFM helps reduce emissions.

Crusoe DFM emission reduction

When it comes to its own GHG footprint, Crusoe actively tracks and reduces it by measuring Scope 1, 2, and 3 emissions annually with Emitwise’s carbon accounting platform, aligned with the GHG Protocol. The company uses quantity and spend data to calculate emissions across its operations, value chain, and employee activities.

Crusoe GHG emissions
Crusoe GHG footprint 2023

In 2023, despite business growth doubling emissions, Crusoe’s Digital Flare Mitigation technology significantly reduced methane emissions by capturing flared gas for energy use. Combined with renewable energy purchases, Crusoe avoided more emissions than it produced, and so, Scope 2 emissions are zero.

Revolutionizing Energy Use of AI Infrastructure

Crusoe’s clean energy data centers could support the future of AI. By combining energy efficiency with technological capability, the company offers a scalable solution to the industry’s growing demands. Its vertically integrated approach enables rapid deployment of cutting-edge infrastructure, allowing it to outperform legacy cloud providers in cost and speed.

This innovative model not only meets immediate energy needs but also sets the stage for long-term sustainability. By lowering the cost of clean energy-powered AI computing, Crusoe aligns the future of computing with global climate goals.

With its latest funding, Crusoe plans to expand its data centers, enhance its cloud platform, and support the development of new clean energy projects, while remaining committed to technological innovation.

As the demand for AI infrastructure continues to grow, Crusoe’s sustainable model offers a clear path forward. By turning waste energy into a valuable resource, the company is proving that AI advancements can coexist with a greener, more sustainable future.

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Google, Stripe, H&M, Shopify of Frontier Invest $80M in Carbon Removal Credits

Google, Stripe, H&M, Shopify of Frontier Invest $80M in Carbon Removal Credits

The Frontier coalition, comprising companies like Google, Stripe, H&M, and Shopify, has committed $80 million toward innovative carbon removal technologies. This investment supports two pioneering startups that generate carbon removal credits: CO280 and CREW. 

Notably, the deal highlights the premium price paid to incentivize innovation:

  • CO280: $48 million at $214 per metric ton, securing the removal of 224,500 metric tons of CO₂ between 2028 and 2030.
  • CREW Carbon: $32.1 million at $447 per metric ton, capturing 71,878 metric tons of CO₂ using limestone filtration.

While these carbon credit prices far exceed the target of $100 per ton, they reflect the coalition’s strategy to support early-stage technologies and drive costs down over time, ultimately making carbon removal scalable and affordable.

Why Frontier’s Model Matters

If the world continues to take its current path in carbon emissions, achieving the critical 1.5°C temperature limit is impossible. 

carbon removal pathway to limit global temperature rise

To avert the worst impacts of climate change, reducing emissions alone won’t suffice. Most climate models emphasize the need to permanently remove gigatons of carbon dioxide already present in the atmosphere and oceans. 

While methods like planting trees and soil carbon sequestration help, they are unlikely to scale adequately. A gigaton-scale portfolio of innovative, permanent carbon removal solutions is essential to meet this challenge. This is where the Frontier coalition comes in.

Frontier is an advance market commitment (AMC) established to accelerate the development of permanent carbon removal technologies by guaranteeing future demand. Founded by Stripe, Alphabet, Shopify, Meta, and McKinsey, and supported by tens of thousands of businesses using Stripe Climate, Frontier aims to purchase over $1 billion of carbon removal between 2022 and 2030.

How Frontier Works

Frontier operates by aggregating demand from participating buyers to set an annual maximum spend on carbon removal. Suppliers of carbon removal technologies apply for consideration through regular requests for proposal (RFP) processes. 

Frontier’s team of technical and commercial experts evaluates these suppliers and facilitates purchases on behalf of the buyers. For early-stage suppliers, agreements may involve low-volume pre-purchases, while larger suppliers ready to scale may enter into offtake agreements to purchase future tons of carbon removal at an agreed price upon delivery.

how Frontier carbon removal model works

The coalition prioritizes carbon removal solutions that are:

  • Durable: Capable of storing carbon permanently (over 1,000 years).
  • Cost-Effective: With a pathway to affordability at scale (less than $100 per ton).
  • High Capacity: Potential to contribute significantly to carbon removal efforts (over 0.5 gigatons per year).
  • Net Negative: Maximizing the net removal of atmospheric carbon dioxide.
  • Verifiable: Employing scientifically rigorous and transparent methods for monitoring and verification.
  • Safe and Legal: Adhering to high standards of safety, compliance, and environmental outcomes. 

The coalition’s AMC approach de-risks innovation by pre-purchasing carbon offset credits. This provides startups with financial certainty to scale technologies and lower costs. 

While in early development, carbon capture technologies are critical to addressing climate change. Unlike nature-based solutions like reforestation, these solutions directly remove emissions from industrial processes.

Frontier’s goal is to make carbon removal both scalable and affordable, fostering long-term decarbonization strategies. Its recently announced $80 million investment involving CO280 and CREW will support the deployment of innovative carbon capture technologies. These investments aim to reduce carbon removal costs and deliver scalable solutions.

Let’s take a closer look at each of these carbon removal startups’ technologies.

CO280: The Carbon Negative Developer

CO280 empowers businesses with innovative tools to tackle carbon emissions and align with net-zero goals. Its advanced platform simplifies carbon footprint assessments, emissions tracking, and offsetting strategies, offering real-time insights for decision-making. Here’s how the company tackles the carbon dilemma:

CO280 approach
Image from CO280 website

The carbon capture startup is using the oil industry’s carbon capture and storage (CCS) technology. By focusing on transparency, CO280 ensures that businesses can make measurable progress toward sustainability while adhering to global standards.

With a blend of data-driven solutions and strategic partnerships, CO280 is shaping the future of the voluntary carbon market, making it a vital ally for organizations seeking actionable climate impact.

CREW Carbon: Redefining Wastewater Management

CREW Carbon is at the forefront of climate innovation with its cutting-edge technology that enhances wastewater treatment while capturing greenhouse gases permanently using limestone. The company’s systems transform the environmental impact of wastewater management, making the process safer and more efficient.

By integrating advanced carbon removal solutions, the startup addresses two critical challenges simultaneously: 

  1. Reducing emissions from wastewater and 
  2. Preventing harmful gases from entering the atmosphere. 

The image shows how the company’s technology seamlessly integrates into wastewater treatment.

CREW carbon solution
Image from CREW website

The carbon capture startup also supports projects focused on reforestation, clean energy, and carbon removal, ensuring each initiative meets rigorous sustainability standards. The company prioritizes accessibility and transparency, simplifying the carbon offset process with tools and education for users at all levels.

Beyond the Target: A Broader Vision for Carbon Markets

Frontier plays a crucial role in shaping the future carbon credit market by supporting these innovative removal companies. It helps startups raise additional funds through purchase commitments, enabling large-scale deployment.

With backing from major companies like Stripe, Alphabet, and Shopify, Frontier drives innovation that aligns with global decarbonization targets, aiming for 1,500 GW of storage capacity by 2030.

Long-term projections indicate that billions of tonnes of carbon removal will be needed by 2050. According to BCG, voluntary demand from large corporations will primarily drive this market.

BCG carbon removal credit demand projection 2030-2040

By 2030, demand for durable carbon removal could reach 40–200 million tonnes annually, valued at $10–$40 billion. By 2040, demand may climb to 80–870 million tonnes per year, with a market value of $20–$135 billion.

Initiatives like Frontier show how private-sector collaboration can transform carbon removal into a cornerstone of the global energy transition. It offers opportunities for both buyers and suppliers to participate in accelerating carbon removal technologies. Buyers can join the commitment to create demand, while suppliers can apply to have their technologies evaluated and potentially funded.

By fostering collaboration between credit buyers and suppliers, Frontier aims to drive innovation and scale in the carbon removal industry, contributing to global efforts to mitigate climate change.

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Nickel Supply Woes: Innovations Steering a Sustainable EV Future

nickel

This December, the International Council on Clean Transportation (ICCT) released a report- “A Global and Regional Battery Material Outlook” that emphasized the critical need for major vehicle markets to achieve 100% BEV sales for new light-duty vehicles by 2035 and heavy-duty vehicles by 2040. This is in conjunction with the Paris Agreement’s target of limiting global warming to below 2°C. While progress lags behind this trajectory, many nations are setting ambitious targets and exploring new measures to accelerate vehicle electrification. This transition will drive a sharp rise in demand for batteries and essential materials like nickel, lithium, and cobalt.

Nickel Demand Soars with EV Batteries

Governments worldwide are adopting policies to expand battery electric vehicles (BEVs) and plug-in hybrid electric vehicles (PHEVs) to combat global warming and air pollution. 

The surge in EV adoption has significantly boosted demand for nickel, a key component in battery production. This analysis highlights trends in battery technology and the growing importance of nickel while exploring strategies to manage the demand for this material.

To begin with, let’s study the growth trajectory of electric vehicles as explained in the ICCT report.

  • Baseline projections estimate that global annual battery demand for road transport will grow from 808 GWh in 2023 to 3.8 TWh by 2030, reaching 7.0 TWh by 2040.
  • Light-duty vehicle (LDV) BEV battery demand alone is expected to increase ninefold by 2050, while heavy-duty vehicles (HDVs) will see a 24-fold jump.

icct report nickel battery demand

Moving on nickel’s role in the battery landscape continues to evolve. The silvery-white metal plays a vital role in high-performance batteries like lithium nickel manganese cobalt oxide (NMC) variants. This variant has higher nickel content and unique features like better energy storage and vehicle range. Thus, as EV adoption rises, nickel demand is expected to soar. 

  • The global nickel demand for EV batteries will reach 1.4 million metric tons (Mt) by 2030 and 2.2 Mt by 2040.

Image: Annual global demand for nickel under the baseline and demand reduction scenarios, all with the baseline battery technology share

nickel demand nickel supply

Tracking Nickel Demand for Batteries Across Regions

China

Nickel demand for batteries in China is expected to grow significantly, increasing from 93 kt in 2023 to 273 kt in 2030 and 379 kt in 2040. This rise is mainly due to the emergence of high-nickel NMC variants, even when the overall share of NMC batteries declines. However, policy measures like recycling programs and the promotion of smaller battery sizes could help reduce nickel demand by up to 29% by 2050.

United States

In the U.S. demand for nickel demand is set to surge from 50 kt in 2023 to 359 kt in 2030 and 471 kt in 2040. This reflects rising sales of high-nickel, low-cobalt NMC variants, such as NMC811. Additionally, recycling and changes in cathode composition are expected to moderate long-term demand growth.

European Union

The EU forecasts demand for nickel to increase from 71 kt in 2023 to 353 kt in 2030 and 623 kt in 2040. High-nickel variants, including NMC811 and NMC955, will dominate the market. However, smaller battery sizes and recycling could cut demand by 29% in 2035 and 16% by 2050.

MUST READ: Powering the Future of Nickel with NMC 811 Batteries 

India and Indonesia

Emerging economies like India will see a nickel demand surge, projected from 1 kt in 2023 to 20 kt in 2030 and 67 kt in 2040. Notably, industrialists predict that this growth will be driven by expanding BEV sales, especially two- and three-wheelers, and the adoption of high-nickel variants.

In Indonesia, nickel demand will climb from 0.18 kt in 2023 to 8 kt in 2030 and 27 kt in 2040. Indonesia’s rich nickel resources make it a top player in NMC battery production, potentially driving higher demand under NMC-dominant scenarios. On the contrary, a shift to high LFP market shares could reduce nickel demand.

Tackling Nickel Supply Challenges Amid Surging Demand

From the above study, we saw that high-nickel NMC batteries currently drive global nickel demand, with China, the United States, and the European Union leading this surge. However, advancements in battery technologies present viable pathways to reduce reliance on nickel.

For example, expanding LFP battery adoption could decrease nickel demand by 33% by 2030 and 21% by 2040 compared to baseline projections. Similarly, sodium-ion batteries, a promising technology with minimal nickel content, are expected to replace some LFP batteries. Thereby, further alleviating supply pressures.

These emerging technologies showcase the industry’s adaptability in overcoming supply chain challenges and addressing rising material costs. The growing shift toward diverse battery chemistries demonstrates the potential to balance material demand while maintaining electrification goals.

LFP NMC nickel

Strategies for a Sustainable Supply Chain

Ensuring a sustainable battery supply chain requires proactive strategies to manage nickel demand effectively. Key approaches include:

  1. Material Innovation: Developing and scaling low-nickel or nickel-free battery chemistries like sodium-ion and solid-state batteries to reduce dependency on critical materials.
  2. Battery Recycling: Investing in advanced recycling technologies to recover nickel and other valuable materials from used batteries, creating a circular economy.
  3. Smaller Batteries: Promoting EV models with smaller battery sizes to optimize material use and reduce the strain on raw material supplies.

Boosting Domestic Battery Production and Mining Capacities

Financial incentives are vital for strengthening domestic battery production and supporting material supply chains. Policies like the U.S. Inflation Reduction Act (IRA) provide tax credits for battery manufacturing, while the EU’s Battery Fund aims to boost battery production across Europe. Similarly, India’s FAME scheme and Indonesia’s reduced VAT for EVs link purchase incentives to the use of local components, enhancing domestic supply chains. These initiatives connect financial support to local manufacturing, fostering self-reliance and industry growth.

nickel critical minerals demand mining

A robust EV supply chain also requires upstream investments in mining and refining capacities. Under baseline scenarios, nickel mining is projected to meet 97% of global demand by 2030. ICCP predicts if LFP batteries gain more market share then nickel supply could exceed demand to adapt to the industry dynamics. 

Disclaimer: Visuals and Data Source

Alaska Energy Metals: An Emerging Nickel Player

However, mining and refining capacities face challenges, such as long project lead times and regional concentration. Governments with domestic reserves can step in with financial support to expand operations. For instance, the IRA mandates that some critical EV battery materials must be mined, refined, or recycled in the U.S. or allied countries. This ensures stable material flows, secures supply chains, and strengthens local economies.

By diversifying mining and refining capacities while promoting alternative battery chemistries, the industry can balance growth with sustainability and resource conservation.

Significantly amid all these challenging market conditions, an emerging player is targeting U.S. nickel independence. Alaska Energy Metals Corporation (AEMC) is leading efforts to support the U.S. energy transition through its flagship Nikolai project in Alaska. The site holds a significant resource of nickel, copper, cobalt, and platinum group metals. And the Canadian Nickel Junior is sourcing them sustainably.

Thus, a company like AEMC will play a significant role in reducing U.S. reliance on imports with robust exploration plans for nickel and other critical minerals. 

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Antimony: The Unsung Hero of Solar Energy and National Defense

Antimony: The Unsung Hero of Solar Energy and National Defense

As the global energy landscape evolves, one material has emerged as a cornerstone for both renewable energy and defense sectors: antimony. This versatile mineral is pivotal in solar technology, battery advancements, and military applications. 

However, recent geopolitical tensions have highlighted vulnerabilities in its supply chain, emphasizing the need for nations to secure sustainable sources. Companies like Military Metals Corp are stepping up to bridge the gap, ensuring antimony’s availability in an increasingly resource-scarce world.

Renewable Energy’s Secret Weapon

The transition to renewable energy relies heavily on advanced materials, and antimony is no exception. In solar panels, this mineral enhances the efficiency of perovskite solar cells by improving light absorption and charge transport. This results in higher energy conversion rates, making solar panels more effective at capturing sunlight. 

Additionally, antimony compounds increase thermal stability, allowing panels to endure extreme conditions without frequent replacements.

Energy storage is another area where antimony shines. Liquid-metal batteries, a promising solution for storing solar energy, depend on antimony’s unique properties. These batteries enable efficient capture and distribution of excess solar power, addressing the intermittency challenges of renewable energy sources. 

With solar installations projected to grow exponentially, antimony’s role in making this energy transition feasible cannot be overstated. The EIA projects solar capacity to reach over 300 GW by 2030 and around 700 GW by 2050.

US solar capacity projections

The Silent Shield: Antimony’s Role in Defense Systems

Beyond renewable energy, antimony is indispensable to national security. The Department of Defense (DoD) uses this critical mineral in 200+ types of munitions, including percussion primers, stab detonators, and armor-piercing rounds. 

Moreover, antimony alloys enhance the durability and reliability of lead-acid batteries used in military vehicles and equipment.

Antimony’s role in flame retardants further underscores its importance in defense. Military uniforms, equipment, and vehicles rely on antimony-based compounds for fire resistance, ensuring the safety of personnel in combat scenarios. Furthermore, antimony-containing semiconductors are critical for infrared sensors and night-vision devices, key technologies for modern warfare.

Breaking China’s Grip: Global Efforts to Secure Antimony Supplies

China controls nearly 50% of global antimony mining and 80% of processing, creating a bottleneck in the supply chain. Recent export restrictions by China, citing dual-use applications of the mineral for both civilian and military purposes, have exacerbated this dependence. 

These restrictions pose significant challenges for countries like the United States, which relies on imports for over 80% of its antimony consumption.

China’s export controls also affect antimony’s availability for renewable energy technologies. The U.S. solar industry, a critical player in the clean energy transition, faces potential disruptions due to limited access to the material for solar panel production. 

As trade tensions escalate, securing alternative sources becomes a strategic imperative. Antimony is one of the critical minerals that China restricted export more recently in October this year. 

Diversifying Antimony: The Key to Supply Chain Resilience

Countries worldwide are taking steps to reduce reliance on Chinese antimony. 

Over two years, global antimony drilling activity totaled 625 holes, with 88 yielding significant intervals. Australia dominated with 444 holes, including 65 significant finds, reflecting its active exploration sector. The USA followed with 44 holes and 10 significant intervals. 

antimony drilling activity 2024

Other contributions came from Canada, New Zealand, and Namibia. Emerging interest in regions like Bosnia, Indonesia, and Slovakia highlights a global push to secure antimony resources, driven by rising demand in energy and defense sectors. 

This data underscores strategic exploration efforts amid tight global supply chains and geopolitical tensions impacting mineral accessibility.

  • In the U.S., the Department of Defense awarded $15.5 million to Perpetua Resources to explore antimony production from the Stibnite Gold Project in Idaho. 

Similarly, Spearmint Resources in Canada has doubled its acreage at the George Lake South Antimony Project, recognizing the mineral’s strategic value.

Moreover, international collaboration is gaining momentum. Nations like Australia, Belgium, and India are investing in antimony processing facilities. Meanwhile, African countries such as Mozambique and Tanzania are emerging as alternative mining hubs. These efforts aim to create resilient supply chains that can withstand geopolitical shocks.

Antimony’s dual role in solar technology and defense highlights its unique importance. This underscores the need for a balanced approach to resource allocation, ensuring that both renewable energy goals and national security needs are met.

The escalating U.S.-China trade war further complicates this balance. Tariffs, export restrictions, and retaliatory measures threaten to disrupt global markets, making it imperative for industries to innovate and adapt.

Surging Prices and Market Outlook

The global antimony market is under intense pressure due to surging demand and constrained supply. In December 2024, antimony trioxide prices soared by almost 232% compared to last year, reaching $38,000 per metric ton. This is largely driven by China’s export restrictions and heightened geopolitical tensions. 

The mineral’s critical role in defense, solar panels, and battery technologies has made it a highly sought-after resource.

Global demand for antimony is expected to rise sharply in the coming years, particularly as renewable energy and defense sectors expand. Analysts predict that its market value could grow significantly, driven by advancements in solar technology, energy storage, and defense applications.

Demand for this critical mineral is forecasted to reach $3.5 billion by 2030. However, the market remains vulnerable to supply chain disruptions, with China’s dominance continuing to exert influence on global prices.

Efforts to address these challenges include investments in alternative sources and recycling initiatives. Countries like the U.S. and Canada are accelerating domestic production, while companies like Military Metals Corp are spearheading exploration projects to tap into previously untapped reserves. 

Military Metals Corp: Leading the Antimony Revolution

Military Metals Corp is an emerging key player in ensuring a stable antimony supply. The company’s strategic assets in Slovakia and Canada aim to reduce dependency on Chinese imports by revitalizing historical mining sites with untapped potential.

Trojarova, Slovakia: Military Metals has identified significant antimony-gold mineralization at this site, with historical estimates indicating high-grade deposits. By extending underground adits and exploring deeper veins, the company plans to unlock valuable resources for both defense and renewable energy applications.

West Gore, Nova Scotia: Once Canada’s largest antimony producer, this site holds immense potential for modern exploration. Historical data suggests significant quantities of this mineral and gold in waste dumps and tailings, providing a cost-effective avenue for resource extraction.

Military Metals’ commitment to sustainable practices and strategic exploration ensures a reliable supply of antimony, bolstering both energy independence and defense readiness.

What Comes Next for Antimony?

To meet antimony’s growing demand, a multi-faceted approach is essential:

  • Investment in Domestic Mining: Expanding mining operations in countries like the U.S. and Canada can reduce reliance on imports and strengthen supply chain resilience.
  • Technological Innovation: Developing alternative materials and recycling methods can alleviate pressure on antimony resources.
  • International Cooperation: Collaborative efforts among nations can diversify supply chains and ensure equitable access to critical minerals.

Antimony is more than just a mineral; it is a linchpin for renewable energy and national security. As the world navigates the complexities of the clean energy transition and geopolitical tensions, ensuring a stable supply of this critical resource is paramount. The time to act is now, and antimony’s story is one of resilience, innovation, and opportunity.

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U.S. Battery Storage Hits a New Record Growth in 2024

Battery Storage Market, Renewable Energy, Hybrid Energy Systems, U.S. Clean Energy Goals, Regional Energy Leaders, Solar Plus Storage Projects, Energy Transition Technologies, Grid Reliability Solutions

The U.S. battery storage market achieved unprecedented growth in 2024, fueled by the need for renewable energy integration and improved grid stability. With nearly 9.2 gigawatts (GW) of new capacity installed in late November, the year surpassed previous records, per S&P Global data. This highlights the sector’s rapid expansion and future potential.

Power Surge: How Battery Storage Is Transforming the U.S. Grid

Large-scale lithium-ion battery storage installations in the U.S. reached new heights in 2024, surpassing the previous year’s record of 8.4 GW, according to S&P Global data. 

By November 25, developers had added 9.2 GW of new capacity, setting a new benchmark for the industry. The third quarter alone accounted for 3.6 GW of these additions, representing a 52.5% increase compared to the same period in 2023. This remarkable growth pushed the nation’s cumulative battery storage capacity to 26.3 GW.

US large-scale energy storage Q4 2024

Most installed battery systems are designed for 1 to 4 hours of discharge, with many directly connected to solar farms. These hybrid setups provide dual benefits: 

  • Renewable energy generation, and 
  • Storage for use during peak demand periods or when solar production wanes.

Among the major projects completed in 2024, Quinbrook Infrastructure Partners’ Gemini Solar Plus Storage Project in Nevada stands out. This massive facility, which became fully operational in July, combines a 690-MW solar farm with a 380-MW/1,416-MWh battery system. It delivers power under a 25-year agreement with NV Energy, supporting grid reliability and renewable energy adoption.

Charging the Future with Expanding Battery Projects Pipeline

The pipeline for future battery storage projects in the U.S. remains robust, reflecting sustained confidence in the sector. By the third quarter, developers had begun construction on 14.2 GW of new battery power capacity, with an additional 2 GW in advanced development. 

Of this total, over 6.4 GW targets completion by the end of 2024, although actual commissioning timelines often extend beyond initial projections.

Looking further ahead, the U.S. battery storage market has a planned pipeline of 143 GW of non-hydro energy storage projects through 2030. This includes ambitious goals for the next few years, including:

  • 43.6 GW in 2025,
  • 37.3 GW in 2026, and
  • 33.8 GW in 2027.

These figures highlight the industry’s rapid evolution and its critical role in the energy transition.

Battery Storage Key to 60% Carbon Reduction

Battery storage is emerging as a critical driver of the energy transition, with costs falling and adoption accelerating. Major companies are expanding their offerings to meet surging demand fueled by the rise of AI and data centers. Both of these will significantly increase energy consumption, driving substantial growth in the global battery storage market.

Electric vehicles (EVs) alone will replace millions of barrels of oil daily by 2030, intensifying the need for large-scale energy storage in the power sector.

According to the International Energy Agency (IEA), achieving net-zero emissions requires energy storage capacity to grow six-fold by 2030. This means reaching 1,500 GW by that period. 

  • Batteries are expected to drive 90% of this expansion, increasing 14-fold to 1,200 GW, while other technologies like pumped storage and compressed air provide support.

lithium battery storage IEA

This rapid growth calls for annual battery deployment to rise by 25%. Batteries could account for 60% of carbon reductions by 2030, both directly through EVs and solar PV systems and indirectly via electrification and renewable energy integration.

As battery storage scales up, it remains essential to decarbonizing the energy sector and ensuring electricity security worldwide. In the U.S., certain states are leading the charge in battery storage development and planning.

Who is Leading the Battery Charge?

Per S&P Global analysis, California maintains its dominance with 11.9 GW of installed capacity as of November 25, most of which operates within the California Independent System Operator’s (CAISO) service area.

Texas follows with 8.1 GW of installed capacity, supported by its vast renewable energy resources and deregulated energy market. Arizona (2.1 GW) and Nevada (1.3 GW) also feature prominently, while no other state has surpassed the 1 GW threshold.

US large-scale energy storage by state

When it comes to planned projects, Texas leads with 59.3 GW of battery storage in development, far outpacing California’s 35 GW. Nevada ranks third with 15.5 GW, followed by Arizona (9.1 GW) and Oregon (5.3 GW).

This geographical distribution highlights the growing regional diversity in battery storage investments, driven by varying energy demands, renewable energy policies, and state-level incentives.

Toward a Clean Energy Future with Solar + Storage

The 2024 additions reflect a healthy mix of hybrid and standalone systems, showcasing the versatility of battery storage solutions. Of the nearly 9.2 GW added this year, around 6 GW were standalone projects, while 3.2 GW were hybrid systems, mostly colocated with solar farms.

These hybrid setups are particularly valuable for enhancing the efficiency of renewable energy projects. By combining solar generation with battery storage, hybrid facilities can store excess solar power during the day and discharge it during periods of high demand or low solar output. 

This ability to smooth energy supply and demand makes hybrid systems a critical component of the grid’s transition to cleaner energy sources. 

The Atrisco Solar Plus Storage Project in New Mexico is another noteworthy example of hybrid development. This facility includes a 360-MW solar farm paired with a 300-MW/1,200-MWh battery system.

The project delivers power under a 20-year agreement with the Public Service Company of New Mexico, underscoring the long-term viability and economic benefits of such projects.

The rapid growth of the U.S. battery storage market in 2024 reflects broader efforts to decarbonize the energy system. By enabling the integration of renewable energy and improving grid reliability, battery storage is becoming an indispensable tool for achieving national and state-level clean energy goals.

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