The energy transition, decoded. Every week, three industry veterans explore the tech breakthroughs, market shakeups, and policy shifts that are driving the bigg...
Five years ago, as lockdowns swept the globe, we witnessed an energy shock that destroyed oil demand, upended electricity demand patterns, and dropped global emissions by staggering levels overnight.
In this episode of Open Circuit, we revisit predictions made during those early uncertain days and examine three major paradoxes that emerged.
First, how staying home rewired our physical and digital lives in ways that created surprising energy impacts. While transportation emissions initially plummeted, the widely predicted "death of cities" never materialized. Instead, we saw a complex reshuffling of urban populations, longer but less frequent commutes, and a data center boom that transformed tech companies into sophisticated energy players.
Then we explore how renewables defied expectations, growing 45% in 2020 despite supply chain chaos and project delays. As oil prices whipsawed, the volatility demonstrated the appeal of zero-fuel-cost clean energy, sparking the biggest investment boom in history. Yet public renewable companies have since been hammered in markets, revealing a disconnect between deployment reality and investor sentiment.
Finally, we analyze how the pandemic fractured the global policy response. While the EU embedded climate into its recovery, the US passed landmark clean energy legislation, and China accelerated both renewables and coal, the crisis also sparked deeper resistance to government intervention that continues to shape politics worldwide. Will the massive investments in decarbonization outweigh the policy whiplash we're now seeing?
Sign up for our merch sweepstakes here. And sign up for our live episode on April 16 here.
Open Circuit is supported by Kraken, the only proven, AI-powered operating system for utilities. Learn how Kraken helps unlock excellent customer experiences, increased innovation and reduced operational costs at kraken.tech.
Open Circuit is brought to you by On.Energy. As one of the fastest-growing battery storage IPPs, On.Energy delivers turnkey resiliency solutions for utilities and enterprise customers. Whether you’re managing data centers or local grids, we help bring storage to your fleet. Learn more at on.energy.
Credits: Co-hosted by Stephen Lacey, Jigar Shah, and Katherine Hamilton. Produced and edited by Stephen Lacey. Original music and engineering by Sean Marquand.
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53:48
Does residential solar have a bad product?
The residential solar industry is facing its most challenging period in years. High interest rates, sweeping policy change, and stubbornly high customer acquisition costs are all causing a contraction after years of rapid growth.
In this episode of Open Circuit, we examine this market transition. We’ll look at how the industry may emerge from the current downturn — through cost reduction, community-driven models, and evolving beyond a “bad product” to something that provides real grid services.
We’ll also talk about troubles at Sunnova, and what it means for the company’s $3 billion DOE loan guarantee.
Plus, as data centers get creative about sourcing power, a novel solution: off-grid solar microgrids that could bypass grid constraints entirely. Recent analysis shows hybrid solar-gas systems could deliver power at costs competitive with conventional options. Is this an answer to the AI power crunch?
Sign up for our merch sweepstakes here. And sign up for our live episode on April 16 here.
Open Circuit is supported by Kraken, the only proven, AI-powered operating system for utilities. Learn how Kraken helps unlock excellent customer experiences, increased innovation and reduced operational costs at kraken.tech.
Open Circuit is brought to you by On.Energy. As one of the fastest-growing battery storage IPPs, On.Energy delivers turnkey resiliency solutions for utilities and enterprise customers. Whether you’re managing data centers or local grids, we help bring storage to your fleet. Learn more at on.energy.
Credits: Co-hosted by Stephen Lacey, Jigar Shah, and Katherine Hamilton. Produced and edited by Stephen Lacey. Original music and engineering by Sean Marquand.
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49:45
Is Wall Street in climate retreat?
Major U.S. financial institutions are backing away from climate commitments – all six largest American banks have exited the Net-Zero Banking Alliance, BlackRock has quit comparable initiatives, and the Federal Reserve has withdrawn from climate risk assessment networks. Is this merely rebranding for the Trump era, or a fundamental shift in how finance approaches sustainable investments?
In this episode of Open Circuit, we examine what's driving this retreat — from political and legal pressures to economic realities. Despite the public pullback, investment data shows a more nuanced picture, even as institutions shift from decarbonizing portfolios to "de-risking” portfolios. We’ll also take a look at the market correction for private equity investments in clean energy.
Then, we dive into the ongoing debate about Bidenomics, sparked by economist Jason Furman's recent Foreign Affairs critique. Did the Inflation Reduction Act's climate provisions represent inefficient economic policy? Co-hosts Jigar Shah and Katherine Hamilton, who helped craft and implement the IRA, provide perspectives on design, implementation, and early results.
For transcripts and more on the stories we discuss in the show, subscribe to Latitude Media's newsletter.
Open Circuit is supported by Kraken, the only proven, AI-powered operating system for utilities. Learn how Kraken helps unlock excellent customer experiences, increased innovation and reduced operational costs at kraken.tech.
Open Circuit is brought to you by On.Energy. As one of the fastest-growing battery storage IPPs, On.Energy delivers turnkey resiliency solutions for utilities and enterprise customers. Whether you’re managing data centers or local grids, we help bring storage to your fleet. Learn more at on.energy.
Credits: Co-hosted by Stephen Lacey, Jigar Shah, and Katherine Hamilton. Produced and edited by Stephen Lacey. Original music and engineering by Sean Marquand.
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1:08:32
Musk takes a chainsaw to 'energy dominance'
Elon Musk built Tesla with help from government loans and carbon credits. Today, he's swinging a chainsaw at the very agencies that launched his empire — while directly undermining President Trump's "energy dominance" agenda.
In this episode of Open Circuit, we examine the impact of the Department of Government Efficiency's indiscriminate cuts. When these cuts hit nuclear security teams and grid operators at the Bonneville Power Administration, officials had to hastily reverse course. What are the real-world impacts to critical infrastructure?
We also explore how a sweeping executive order could restructure federal energy regulation. FERC — traditionally an independent, technical body — will now require White House approval for decisions. How could it slow down decisions and impact electricity markets?
And at EPA, officials are attempting to claw back $20 billion in legally committed green bank funding, prompting a federal prosecutor to resign rather than pursue what she saw as a baseless investigation. What does the EPA's approach tell us about the administration's lack of strategy?
Then we turn to Texas, where market forces are telling a different story. Despite a $5 billion subsidy program for gas plants, developers are walking away. French energy giant Engie recently abandoned two projects, citing equipment shortages and rising costs.
Meanwhile, clean energy is thriving without subsidies. Solar and batteries set new performance records last year, with zero-carbon power now providing 47% of Texas electricity. What does Texas tell us about the role of gas in the new era of load growth?
Open Circuit is brought to you by On.Energy. As one of the fastest-growing battery storage IPPs, On.Energy delivers turnkey resiliency solutions for utilities and enterprise customers. Whether you’re managing data centers or local grids, we help bring storage to your fleet. Learn more at on.energy.
For transcripts and more on the stories we discuss in the show, subscribe to Latitude Media's newsletter.
Credits: Co-hosted by Stephen Lacey, Jigar Shah, and Katherine Hamilton. Produced and edited by Stephen Lacey. Original music and engineering by Sean Marquand.
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1:05:05
The data center boom: ‘All the cheap power is gone’
The tech industry is pouring $1.3 trillion into data centers globally over the next five years. While efficiency breakthroughs like the launch of DeepSeek's R1 reasoning model might reduce computing needs, the sheer scale of AI deployment means we're still facing historic demand growth. Data center electricity consumption doubled under Biden — and it's projected to triple by 2030.
In this episode, we examine how utilities, tech companies, and policymakers are grappling with the wave of data center development. We explore why the "mega-campus" model is giving way to smaller building blocks, how grid constraints are reshaping data center deployment, and why all new generation — whether it's solar, nuclear, gas, or geothermal — converges at $100 per megawatt-hour.
Then, we sit down with Peter Freed, Meta's former director of energy strategy, who explains how tech companies evolved from building single data centers to managing massive power portfolios. He shares insights about the critical window between 2027-2032 when data center load will hit the grid alongside broader electrification, and why that's driving new interest in nuclear, geothermal, and grid-enhancing technologies.
Along the way, we tackle some big questions: How are utilities handling the flood of speculative interconnection requests? What does Trump's $500 billion Stargate project mean for grid infrastructure? And most importantly: who's going to pay for all of this?
For transcripts and more on the stories we discuss in the show, subscribe to Latitude Media's newsletter. Plus, get your tickets to Transition-AI: Boston on June 12.
Credits: Co-hosted by Stephen Lacey, Jigar Shah, and Katherine Hamilton. Produced and edited by Stephen Lacey. Original music and engineering by Sean Marquand.
The energy transition, decoded. Every week, three industry veterans explore the tech breakthroughs, market shakeups, and policy shifts that are driving the biggest industrial transformation in history.
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