Advocacy News – June 22, 2023
U.S. Energy Secretary and former Michigan Gov. Jennifer Granholm was the featured guest during the return of the Detroit Free Press Breakfast Club Series this week. In her ranging conversation with journalist Carol Cain, Granholm touched on several top-of-mind issues as well as Biden Administration initiatives underway — from electric vehicles to solar energy and grid reliability.
The Michigan Chamber was one of several event sponsors to help ensure robust opportunities for dialogue on these key energy issues that will affect businesses, communities and Michiganders.
Here are the MI Chamber’s top takeaways from her remarks:
- Electric vehicles and related jobs have the potential to create significant talent opportunities. While the additive jobs brought about by these sectors can have great rewards, it is equally important to think about and work through the potential challenges.
- Solar energy will continue to be a game changer for cleaning up the grid. Currently, the return on investments in solar energy systems is about 10 years. Tax credits available under the Inflation Reduction Act can help drive down those costs.
- Nuclear fusion is a real technology that can hold similar benefits to nuclear fission (the process utilized in nuclear power plants today), but without any nuclear waste as a byproduct. Though the country and industry are still years away from interconnecting this technology to the grid, the U.S. Department of Energy (DOE) will be playing a role in working with private companies to commercialize fusion power in the years to come.
- The nation’s current energy grid must be bolstered to be more resilient and add capacity. There is concern about the reliability of the energy grid today. Ultimately, we need to build 2,000 gigawatts of clean energy for our grid to reach net-zero carbon goals. Electric vehicles can play a supporting role through bidirectional charging as well as microgrids and a technology called advanced reconductoring.
- Fuel pipelines may need to be repurposed for hydrogen and CO2. The war in Ukraine has created a bifurcation of energy in the globe and showed just how vulnerable Europe is due to their reliance on Russian oil.
- The Inflation Reduction Act (IRA) represents a generational opportunity for moving the nation toward a cleaner, more sustainable future. IRA tax credits will be made available this fall and will be focused on technologies such as heat pumps, induction stoves, insulation, electrical panels, EV charging and solar installation.
Additionally, Secretary Granholm addressed concerns from the audience surrounding the Palisades Nuclear Plant and calls for the plant to be re-opened. She stated the potential for the plant to be repowered was currently working through the necessary regulatory process and was unable to provide further insight into the status of the plan.
For questions or more information, contact Mike Alaimo at malaimo@michamber.com.