More Offshore Wind, Tesla’s ‘Money Furnaces’ And Green Hydrogen In Coal Country

This week’s Current Climate, which every Saturday brings you the latest news about the business of sustainability. Sign up to get it in your inbox every week.

On Thursday, the Biden Administration announced a partnership with 11 state governments to accelerate construction of offshore wind energy projects along the east coast. This move is a component of the Administrations long-term goal to have 30 gigawatts from offshore wind by the end of the decade. That’s enough to cut 78 million metric tons of carbon emissions and to power 10 million homes (or about 24 trips on Doc Brown’s time machine). As part of the move, the Department of Energy along with the governments of Maryland and New York will provide funding to secure supply chains for the project.

“Ten million homes with offshore wind. Ports turned back into economic engines, being in a position where foundries and factories are up and running — again, creating jobs,” President Biden said in remarks about the announcement, later saying that “This is a real boost for energy security.”

The Big Read

Australian Mining Billionaire Touts A Green Revolution In U.S. Coal Country — With Skepticism Trailing Close Behind

Andrew Forrest travels the globe trying to persuade leaders of industry and politics — and rank-and-file workers — that despite his polluting past he’s the man to champion green hydrogen as the clean fuel of the future. Read more here.

Discoveries And Innovations

This young chemistry researcher’s work explores how the natural photosynthesis process could be mimicked in order to provide an alternative energy source.

A new study from energy research think-tank Ember suggests that if Europe began an expansion of its electricity infrastructure and quadrupled its renewable energy generation, the continent would see $1 trillion in economic savings by 2035.

Researchers at the Swiss Federal Institute of Technology have developed a method of taking wood or other plant materials and turning them into recyclable, biodegradable plastics that could be used for a wide variety of applications.