Utility-scale Solar: The Grim News Begins (Blue Ridge “wind-down’)

“… this was one of the hottest and most promising job sectors in the country at the end of 2024. Now, clean energy job growth is at serious risk – and with it, our overall economy.” (-Bob Keefe, below)

“Solar construction firm Blue Ridge Power issues mass worker layoff in North Carolina,” read the article in pv magazine. “The utility-scale solar engineering, procurement and construction firm filed a WARN act with the state, cutting over 500 jobs.”

Much of the rooftop solar industry is in liquidation mode, and now the central station “utility scale” solar industry is in trouble. Expect more of the same in the next months as solar subsidies and local opposition grows (the environmental grassroots). The delayed end of the Investment Tax Credit (30 percent credit) and the Production Tax Credit (2.8 cents/kWh) will cause a rush to the exits before the credits expire at the end of 2027 (with credits at risk for projects not started by July 4, 2026).…

Solar, Wind ESG/ETC Closures Accelerate

“One of the great mistakes is to judge policies and programs by their intentions rather than their results.” ( – Milton Friedman, 1975)

The “socially responsible” investing bubble–a combination of government subsidies and political correctness–is leaking air. Yesterday’s post reported the demise of the Net Zero Banking Alliance. Now the wind and solar Exchange Traded Fund [ETF] is in freefall. As Eric Balchunas, Senior ETF analyst at Bloomberg Intelligence, recently reported:

Solar, Wind ETF Closures Show Just How Much the Climate Has Changed. 5 ESG ETF closures in Aug, now 21 for year, 74 total… with 50 more in danger bc under the $50m mark. Basically when all is said and done about half of all ESG ETFs launched will likely be shuttered

One wealth analyst commented: “It seems to be a category started with good intent (ESG/Impact) but was quickly hijacked by politicians for their own causes and that dilutes any initial good intent.”…

Net Zero Banking Alliance Terminated

“RIP—and not a moment too soon for the 2.1 billion humans that suffer in abject energy poverty and much too late for the 16.5 million loved ones they have lost due to indoor air pollution during the 5 1/2 years the Net Zero Banking Alliance was working to prevent financing for fossil fuel projects all over the world.” (- Ryan Zorn, below)

“NZBA votes to cease all operations, abandon membership model,” reported ESG Dive. Lamar Johnson summarized:

• Members of the United Nations-backed Net-Zero Banking Alliance voted Friday to immediately cease operations and shift to a guidance-based model, an NZBA spokesperson told ESG Dive.
• The spokesperson said that the vote also “provided a mandate to explore how best to carry this work forward.” Banks will be involved in that process over the next six to 12 months where further plans will be developed. 

Thatcher & UK Politics: Up from Alarmism

NRDC in Climate Denial (forced smiles at ‘Climate Week’)

Finance vs. “Climate Finance” (Lisa Sachs’s Problem)

When the NYT Fairly Reported on Global Warming (December 13, 1989)

“Climate Pragmatism”: The New Retreat

Fisher on the NASEM Climate Report

The Fallacy of ‘Exxon Knew” (Part II)