Bonus: Will Trump’s bill trigger a ‘Big, Beautiful’ energy crunch?
This week, we explore how the legislation’s attack on renewable energy may push up electricity bills and damage US competitiveness in AI. The tax credits in President Joe Biden’s sprawling Inflation Reduction Act were introduced to help the US keep up with rising electricity demand by making clean power sources cheaper. But now the big bill has changed all that, and an executive order issued days after its passage suggests his war on renewables isn’t over yet. Joining host Stephanie Flanders to discuss this dramatic turn of events are guests Ethan Zindler, head of country and policy research at BloombergNEF and previously climate counselor to US Treasury Secretary Janet Yellen, and Bloomberg lobbying and influence reporter Emily Birnbaum. For more episodes of Trumponomics, subscribe on Apple or Spotify. See omnystudio.com/listener for privacy information.
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29:34
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29:34
Capex and Investment in the New Industrial Revolution
Just how green are the investment portfolios of credit, equity and multi-asset funds? Building on its existing suite of banking and investment ratios, BloombergNEF has introduced the Energy Supply Fund-Enabled Capex Ratio, which assesses how much a given investment portfolio is contributing to low-carbon capital expenditures for every dollar directed to fossil fuels. Worldwide, low-carbon energy gets just 48 cents for every fossil-fuel dollar, but the regional picture when it comes to funding this new “industrial revolution” is far more complex. On today’s show, Dana Perkins is joined by BNEF finance and investment associate Ryan Loughead to discuss how investors are funding the low-carbon industrial revolution and the inaugural “Energy Supply Fund-Enabled Capex Ratio” report. Complementary BNEF research on the trends driving the transition to a lower-carbon economy can be found at BNEF<GO> on the Bloomberg Terminal or on bnef.com Links to research notes from this episode: Energy Supply Fund Enabled Capex Ratio - https://www.bnef.com/insights/36751See omnystudio.com/listener for privacy information.
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31:48
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31:48
AI Data Centers: Making Waves in the Energy Demand Sea
Everyone is talking about how much energy data centers and artificial intelligence will gobble up in the coming years. Yet AI is just one part of a vast, complex and constantly evolving energy landscape. So how will the AI revolution fit into a world where electric vehicles are displacing liquid road fuels, renewable-power projects are stuck in grid queues and big tech is investing in nuclear? On today’s show, Tom Rowlands-Rees is joined by Ian Berryman, BloombergNEF’s head of energy systems modeling, to discuss findings from this year’s edition of the New Energy Outlook. For the first time ever, BNEF’s flagship report has modeled the impact of data centers on the transition to a low-carbon economy. But how much of the global power supply will AI really require? And will additional clean energy sources be built to meet that added demand, or could the extra grid strain simply extend the lifespan of fossil-fuel generation? Complementary BNEF research on the trends driving the transition to a lower-carbon economy can be found at BNEF<GO> on the Bloomberg Terminal or on bnef.com Links to research notes from this episode: New Energy Outlook 2025 - https://www.bnef.com/insights/36179 Executive Summary - https://about.bnef.com/insights/clean-energy/new-energy-outlook/See omnystudio.com/listener for privacy information.
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30:22
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30:22
China Drives Global EV Sales as US Support Fades
Sales of electric vehicles are set for another record-breaking year. Thanks to falling battery costs and a rise in affordable models, plug-in EVs will represent a quarter of global passenger car sales in 2025. And while a rollback in government support has taken a bite out of EV uptake in the US, other countries are more than making up for this setback. Chinese automakers have been growing their footprint overseas, leading to strong growth in emerging markets. In China itself, organic consumer demand will lead to 50% of new vehicle sales this year coming with a plug, far surpassing government targets, and strong domestic sales of range-extended EVs have led them to become the fastest-growing drivetrain in the world. On today’s show, Tom Rowlands-Rees is joined by Colin McKerracher, BloombergNEF’s Head of Clean Transport, to discuss findings from this year’s Electric Vehicle Outlook. Complementary BNEF research on the trends driving the transition to a lower-carbon economy can be found at BNEF<GO> on the Bloomberg Terminal or on bnef.com Links to research notes from this episode: Electric Vehicle Outlook 2025 - https://www.bnef.com/flagships/ev-outlookSee omnystudio.com/listener for privacy information.
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34:40
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34:40
White House Nuclear Energy Push Meets Uncertain Market
The Trump administration has made no bones about its desire to revitalize the US’s nuclear power industry. With four new executive orders hot off the president’s desk, nuclear is being treated as a silver bullet, capable of meeting AI power demand while shoring up the country’s energy independence. The US is also looking to counter China and Russia, which in recent years have led the way in nuclear technology rollout both at home and abroad. But can this new policy push elicit the market response required to rebuild the US’s nuclear energy industrial base? On today’s show, Tom Rowlands-Rees is joined by BloombergNEF’s lead nuclear analyst, Chris Gadomski, to discuss findings from his note “Trump Pushes Nuclear But Market Pull Is Uncertain.” Complementary BNEF research on the trends driving the transition to a lower-carbon economy can be found at BNEF<GO> on the Bloomberg Terminal or on bnef.com Links to research notes from this episode: Trump Pushes Nuclear But Market Pull Is Uncertain - https://www.bnef.com/insights/36697See omnystudio.com/listener for privacy information.
The future of energy, transport, sustainability and more, as told by BNEF analysts. Each week, Dana Perkins and Tom Rowlands-Rees sit down with BloombergNEF (BNEF) analysts to uncover the key findings and stories behind their latest research.
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