Solar Shined, Wind Faltered, and Gas Was Still King

Solar Shined, Wind Faltered, and Gas Was Still King

The United States green-energy transition rose to new heights in 2023 despite high interest rates and the volatile global supply chain. A record amount of renewable energy was added to the grid, with solar energy leading the way. Nearly 1.5 million electric vehicles were purchased, which was a 50% increase from the previous year. Investments in the power and transportation sectors to get off of fossil fuels hit a record $303 billion, making the U.S. the second largest investor in the energy transition after China. Solar farms and solar panels were built at a record pace in 2023, while wind power expansions were either cancelled or renegotiated. Although renewable energy generated a record 41% of power in the U.S., fossil fuels still remain the largest source.

Catherine Boudreau, Business Insider

America’s Warmest Winter on Record

Preliminary data shows winter 2023-2024 was the lower 48’s warmest winter on record, spanning over 130 years of data. This winter surpassed the previous warmest winter from 2015-2016 by 0.75 degrees. Michigan, Minnesota, and Wisconsin each had their record-warmest winter in history, and several other states saw their second-warmest winter. Some cities in Michigan and Wisconsin saw their first ever 70 degree days during the winter months. Places in Illinois and Nebraska even hit 80 degrees for the first time in winter as well. These temperatures are more typical for May, rather than February. Given all the warmth, it should be no surprise that February 2024 had the smallest snow coverage over the contiguous U.S. in 20 years. The warmth also left the Great Lakes ice cover at a 51 year low for February.

Jonathan Erdman, Weather Underground

SEC Ruling Requires Companies to Disclose Climate Risks

The Securities and Exchange Commission voted to approve new climate risk disclosure rules for companies with at least $75 million of value in the hands of public investors. These large companies will now be required to disclose some aspects of their carbon footprints and tell investors how climate change could impact their businesses. Although, the rules are not as stringent as some had hoped they would be. The final version of the rule no longer requires businesses to disclose indirect emissions like greenhouse gasses produced to acquire raw materials from a supplier or the emissions created during a product’s end use. For some companies, those types of emissions represent as much as 90% of their total emissions footprint, so the disclosures likely won’t represent the full risk picture.

Evan Bush and Brian Cheung, NBC News

What’s in the works for ClimateWatch?

Our goal is to bring you the latest in climate issues, trends, forecasts, innovations, and more. One way we’re hoping to do that in the future is by including an in-depth analysis from one of our experts! Stay tuned for that, you won’t want to miss it.