Tesla's New Battery Could Make EVs Cheaper Than Gasoline Cars
EQM, the pipeline company, maintains a slim chance to finish the Mountain Valley Pipeline by year-end. Meanwhile, Tesla is working on a new battery that could make its electric vehicles (EVs) as affordable as gasoline cars. However, Tesla's solar plant in Buffalo, New York, remains shut. This battery could also serve as a grid resource post-car use.
Tesla's innovation could revolutionize the EV market. The new battery could make EVs cheaper than gasoline cars, potentially boosting EV adoption. However, Tesla's solar manufacturing plant in Buffalo has been closed, which might slow down solar panel production for these new batteries.
Ford and General Motors are also embracing clean energy. Ford plans to power its Tennessee plant with solar energy from a Mississippi project by late 2022. GM aims to do the same by the end of this year. These moves signal a shift towards renewable energy in the automotive industry.
In North Dakota, a planned coal plant closure hints at electric cooperatives moving towards clean energy. Additionally, a planned transmission system for multiple offshore wind farms in New England could save consumers around $1 billion. Despite the pandemic's impact, major Ohio utilities maintain a positive financial outlook. Illinois regulators are finalizing rules to allow utilities to earn returns on cloud-computing investments, indicating a shift towards digitalization in the sector.
While EQM faces challenges in completing the Mountain Valley Pipeline, Tesla's new battery technology could democratize electric vehicles. Ford and GM's solar energy plans, along with potential coal plant closures and offshore wind farm developments, underscore the growing trend towards clean energy in the U.S. Meanwhile, utilities adapt to digitalization, as seen in Illinois' regulatory updates. However, Tennessee's environmental regulators face scrutiny over data manipulation regarding dangerous radioactive metals in coal ash.
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