Paul Gerke (00:02.634)
Hey everybody, welcome to another edition of This Week in Cleantech, your favorite 15-minute roundup with some of the biggest stories in climate and clean energy each week. Today, if you're keeping score at home, is Friday, March 13th, 2026.
We have a special guest in waiting—Chuck McCutcheon from Axios will be joining the program shortly.
If you don't know me by now, I'm Factor This content director Paul Gerke, joined as always by cleantech commentator Mike Casey of Tigercomm. Mike, how are we?
Mike Casey (00:28.005)
We are fine, and I am fine. And I want to give two listener shoutouts first.
Our friends at Cypress Creek Renewables—Kevin Smith, the new CEO—they just acquired 2.5 gigawatts of solar and 2.9 gigawatt-hours of storage in Arkansas from Swift Current Energy.
Also, new listener David Knight—he's the CEO of Turbine and the editor of the Physical AI Newsletter. So hey, thanks for listening.
And I want to be a little different here. I want to give a non-listener shoutout to fracking secretary Chris Wrong, who managed to make it into the news two times in recent days—both times for being, well, wrong.
There is the now-infamous market-moving post on X, now deleted, in which His Highness asserted that a U.S. naval warship had escorted a tanker through the Strait of Hormuz. Wrong. Yeah, that would—
Paul Gerke (01:20.400)
Slightly incorrect there, yeah.
Mike Casey (01:23.609)
And then there's the pre-war assurances that news media reported he gave to Trump, assuring him there would be no shock to U.S. energy markets. With gas now approaching four dollars a gallon, that would suggest that he was wrong a second time.
So on a serious note, one acknowledges 17 American war dead and mourns their loss, along with the significant loss of life in this conflict. Paul, over to you, friend.
Paul Gerke (01:48.210)
All right, Mike. If you guys want to get something in on the show, you have a way to contact us—we shout it out every week. We love to hear from the viewers, the listeners.
If you've got a strong opinion or two cents to spare, you can find us at TWIC—T-W-I-C—at tigercomm, that’s with two M’s, T-I-G-E-R-C-O-M-M dot U-S.
All right, Mike, five stories on tap. Let’s start with number one. What are we covering this week?
Mike Casey (02:08.281)
Heck yeah. Alastair Marsh, Gaurav Naik, and Olivia Raimonde from Bloomberg wrote, Jefferies Makes the Case to Double Down on Clean Tech Investments, Paul Gerke.
Paul Gerke (02:20.458)
So this story about investment bank Jefferies—they're urging investors to stick with the clean energy sector, even as oil and gas prices trigger memories of the 2022 renewable sell-off that lasted about three years.
Last year, Jefferies told clean economy investors that they were entering the “glory days” of a strategy that long seemed like a losing bet. That advice coincided with a 44% surge in clean energy stocks last year, far outpacing the S&P’s 16% gain.
Despite the risk of supply chain disruptions and rising inflation concerns and interest rates going up, Jefferies’ head of sustainability says the Iran war could actually accelerate renewable investment as governments race to increase their energy independence.
Clean energy stocks have outperformed this year so far, with the S&P’s Global Clean Energy Transition Index up more than 6%. The S&P 500 is down about 1.5%.
The Iran war has pushed oil above $100 a barrel—it’s back and forth all over the place, but higher than it was, that’s for sure—meaning fossil energy stocks may outperform clean energy in the short term.
But long-term investors like pension funds and sovereign wealth funds remain committed to decarbonization, according to the executive director of the geopolitical unit at Hillco Global and former undersecretary of the U.S. Army.
Mike, your thoughts on this piece.
Mike Casey (03:37.879)
All right, so Paul Gerke, just showing you that I am not just a bloviator, but a historic bloviator. In the year 19 BC, Roman poet Virgil wrote, “Fortune favors the bold.”
Paul Gerke (03:50.324)
How old were you then? Did you have that in print? Was it just carved into a tablet?
Mike Casey (03:55.345)
All right, so here’s not just Jefferies, but BlackRock’s chief investment officer saying energy independence is a key focus right now, and buying renewable energy stocks could be a core part of any portfolio.
The clean energy sector is financially stronger than it was four years ago, with better balance sheets, stricter risk management standards, and higher return requirements before new projects move forward.
There’s also the buildout of renewables that’s taken place in recent years to help balance electricity prices. Germany suffered a blow in 2022 because of its reliance on Russian gas, and now solar power is helping cap electricity prices even as the Iran war leads global energy costs to increase.
Rising electricity demand from AI data centers is also strengthening the long-term case for renewables. We’re going to talk about that more with Chuck toward the end of the show.
Despite recent gains, clean energy stocks remain about 45% below their 2021 peak, but we are long-term investors in the global energy transition, Gerke.
Paul Gerke (04:55.653)
All right, story number two—familiar theme. If you like talking about AI data centers, you’ve got nowhere to run on this show.
Our second story is by Tripp Mickle from the New York Times, titled Demand for AI Data Centers Sends Prospectors Hunting for Land and Power. I like to talk about the gold rush and the Wild West—I think they’re very fitting metaphors here. Mike, what was in this story that caught your eye?
Mike Casey (05:16.557)
So this is interesting. Companies are working to secure the power and sites necessary for hundreds of billions of dollars of data centers being built across the country, making “powered land” one of the most valuable commodities.
S&P Global reports that AI companies are expected to seek about 85 gigawatts of new power capacity by 2030—that’s roughly a fifth more power than the current grid can supply.
Brian Janous—he’s a former Microsoft energy executive—co-founded a startup called Cloverleaf Infrastructure, which secures power and land for data centers.
Cloverleaf operates as a modern-day version of the oil industry’s landman, identifying unused grid capacity, securing utility agreements and permits, acquiring nearby land, and packaging the land and power for data center developers like OpenAI, Meta, and Google.
His company raised $300 million in private equity funding to launch in 2024. Paul, your thoughts?
Paul Gerke (06:18.333)
Yeah, it’s not just on paper either. That firm recently sold a 1,900-acre Wisconsin site with 1.3 gigawatts of capacity to Vantage Data Centers in a deal estimated to exceed $200 million.
And they’ve got plans for a $15 billion AI data center complex coming up for Oracle and OpenAI. Similar deals are underway in Georgia and Alabama.
Cloverleaf sometimes uses long-term land options rather than purchasing property outright to reduce their upfront costs.
However, projects often face strong community opposition—as we hear about all the time on this show—due to concerns about electricity prices, water use, noise pollution, environmental impacts, the list goes on.
So far, Cloverleaf was forced to abandon at least one of its proposed projects because of community opposition there.
The business is risky for other reasons too—if the AI boom, which is driving our entire economy outside of the war in Iran right now, slows down or tech companies scale back from data center construction, firms like Cloverleaf will likely be left with millions of dollars invested in unused land, power agreements, and equipment.
You gotta get out before that house of cards collapses, Mike. Story number three.
Mike Casey (07:26.371)
Third story—Timothy Cama, E&E News: Solar Group Takes Revenge on Chip Roy Over Tax Credits, Paul Gerke.
Paul Gerke (07:34.194)
Well, I know you love Texas Representative Chip Roy, so I’ll make my comments brief here, Mike.
He made it his mission last year, if you don’t know the guy, to kill renewable energy tax incentives.
In response, a PAC backed by solar executives called the Invest in Tomorrow Coalition decided to do the same for Roy’s campaign for Texas attorney general.
The PAC spent more than $650,000 opposing Roy in the race, targeting conservative voters on platforms like Rumble and Truth Social with messaging saying Roy is not MAGA enough for Texas.
Roy has now been forced into a runoff in the GOP race for Texas attorney general, finishing second in the primary—31.6% of the vote, behind Mays Middleton’s 39.1%.
Mike, is that plan working out for them, and what do you think about Mr. Chip Roy?
Mike Casey (08:20.131)
I think finally this sector is learning to play the outside game.
So the PAC said it’s “just getting started.” Major donors include Ripple founder and multi-deca-billionaire Chris Larsen, who contributed $250,000, along with climate and clean energy investors and executives.
Other Republicans the group is considering targeting include Representative Barry Moore in the Alabama Senate race, Representatives Ralph Norman and Nancy Mace in the South Carolina governor’s race, and Representative Byron Donalds in Florida’s governor’s race.
Mr. Roy, of course, whined about the effort, while supporters say they are out to hold politicians accountable for opposing clean energy policies, which help build the next generation of American energy and provide economic security.
We should note, however, that the fossil fuel lobby’s ethical bottom seems to know no bounds. Here was fracking king Harold Hamm calling Oklahoma Governor Kevin Stitt—whom Hamm bankrolled—to, quote, “ask his asset” to appoint him to fill the rest of Senator Markwayne Mullin’s Senate seat.
Paul, how’d you like to have been added to that Signal chat?
Paul Gerke (09:33.053)
I woke up to 66 text messages this morning—that’s what happens when you go to bed early with a four-month-old.
So I don’t know if I would have even noticed the Signal chat popping off until it was too late, but I digress.
Story number four from Steve Levine from The Information, titled EV Sales Sliding, BYD Fights Back with a New Battery. Tell me about it, Mike.
Mike Casey (09:51.833)
All right, so Chinese automaker BYD—we’ve noted that it overtook Tesla last year as the world’s top EV seller—but both companies are now facing a slump, with BYD sales falling year over year for six straight months and Tesla experiencing two years of declining annual sales.
So there’s no word on whether free ketamine has been provided to BYD executives.
But now other EV players are fighting for the top spot. While Tesla’s Elon Musk is shifting his attention—or should we say attention-seeking—toward AI-driven businesses like robotaxis and humanoid robots, BYD is doubling down on EVs, especially fast-charging batteries.
Last Thursday, BYD CEO Wang Chuanfu unveiled a new ultra-fast “flash charging” battery that can recharge an EV in about nine minutes. I won’t say that again—nine minutes.
The battery is an upgraded version of BYD’s Blade battery, which helped popularize lithium iron phosphate, or LFP, batteries as cheaper and practical EV power sources.
Once dismissed by Western automakers as too weak for cars, LFP batteries now power most of the world’s EVs, and Western companies are rushing to adopt the technology. Paul?
Paul Gerke (11:05.917)
Yeah, carmakers here in the West have invested in next-generation battery tech like lithium metal, silicon anode, and solid-state batteries—but they’ve all struggled to reach commercial scale.
BYD sold 2.3 million EVs last year, partly due to the lower cost advantages enabled by that LFP technology. That’s 28% more than Tesla, which is suffering a 9% year-on-year drop in sales and counting.
BYD’s domestic sales have recently declined, though, as competitors like Geely gain ground in China’s EV market.
Though BYD’s international sales are going up, to stay ahead of its rivals, BYD plans to launch 10 EV and plug-in hybrid models with the new fast-charging battery. That includes a $22,470 American Song Ultra electric SUV with a 375-mile range.
And they’ve got 20,000 flash-charging stations that they’re set to build, Mike. That would be impressive.
Let’s get to our guest, shall we? Story number five.
Mike Casey (12:00.537)
And I should just note that my co-host is a Detroit native, so he loves those car stories. He doesn’t like to let on, but he loves them.
And though we have had other Axios folks on, we have not had the privilege of having Chuck McCutcheon on. This is his first time.
Chuck, welcome. You have a piece, Exclusive: Google, Tesla Unite to Fight Energy Costs. What are these folks up to?
Chuck McCutcheon (12:25.708)
So they formed a coalition called Utilize, which basically wants to try to bring together companies and utilities, lawmakers, and try to get smarter, faster, and more affordable use of grid infrastructure.
This idea that you can get more out of the grid—I mean, they compare it to an airplane that only flies with full passengers a few times a year.
So using battery storage, distributed energy, and other technologies—advocating for those—can really address this affordability challenge now that affordability has become one of the hottest hot-button issues in this election year.
Paul Gerke (13:11.005)
Question—is it more focused on batteries, or are we talking everything? Grid-enhancing technologies, smart power flow, dynamic line ratings—the kind of stuff that FERC has been mandating that utilities get to doing?
Chuck McCutcheon (13:24.822)
Yes—the short answer to your question is yes, it’s all of the above.
They’re starting by looking at the states, though, instead of FERC, although they said they’ve been having conversations with FERC and folks on the Hill and whatnot.
But they’re really starting by looking at what states can do. And they point to an early win that they say they had in Virginia, where they got a grid utilization bill that passed with bipartisan support, and it’s just awaiting Governor Spanberger’s signature.
Mike Casey (14:03.299)
Chuck, I have been, as a non-expert, fascinated by this kind of meta-conversation—no pun intended—about the grid.
We have a legacy grid that needs physical infrastructure, no doubt, and then there are advocates of the precursor, non-physical upgrades—software, better management—which, as far as I know, it’s all needed.
How do you characterize the case these folks are making that they can operate the grid better to create headroom, so you don’t have this tremendous tension between the power needs of AI and people needs that have been going on for decades?
Chuck McCutcheon (14:50.390)
I mean, I think it’s something that they have honed in on as being something that has a lot of bipartisan support.
Chris Wright was talking about it at this BlackRock summit today—that we only use about half the capacity on average on the grid.
So I think there’s recognition that doing policy on the other stuff—like building transmission—is time-consuming and very hard.
But as demand grows, this is kind of the low-hanging fruit, so to speak.
Paul Gerke (15:24.957)
The low-hanging fruit, Chuck—but I do have to caution our listeners a little bit.
I’ve listened to folks at National Grid recently talk about their experiences with dynamic line ratings and getting more out of the grid. They’ve got use cases in the U.S. and the U.K.
And while it’s really good in some situations and can provide a lot, it’s not transmission. It’s more like buying time for transmission to be built.
And we’re still reliant on this seven- to ten-year transmission cycle that seems to be the real bottleneck.
What are these giant tech companies doing to actually get us there? It’s one thing to nickel-and-dime capacity, but if we’re talking gigawatts for data centers, we’re not pulling that out of neighborhood circuits.
Chuck McCutcheon (16:12.862)
Yeah, yeah—and I don’t think this will be, certainly for a company like Google, the last word on what they try to do.
I think this is just their recognition that affordability is really hot right now, and here’s an opportunity to partner with others, share ideas, lobby lawmakers, and take care of one aspect of the problem.
Mike Casey (16:50.146)
Well, Paul, we’re just about out of time. I could ask Chuck about six more questions myself, but we’ve got to go to Cleantecher of the Week.
Paul Gerke (16:56.601)
All right, let’s do it.
This week, our Cleantecher of the Week goes to Samir Pensey, CEO at Coral—New York-based Coral provides instant rebates for energy and HVAC updates.
They recently raised $7.5 million in pre-seed and seed funding. The company is working to expand access to affordable financing for sustainable home upgrades at a time when energy bills are rising and we’ve all got our brains on our HVAC systems.
Congrats to Samir, CEO at Coral, our Cleantecher of the Week.
Mike Casey (17:28.569)
We want to thank our wonderful producer Brian Mendez, and Clare Quirin for standing in for Brian, as well as Alex Peterson for his help in gathering these stories.
Paul Gerke (17:37.735)
And thanks to you for joining us on another edition of This Week in Cleantech.
A special shoutout to Chuck McCutcheon—great story over at Axios. If you haven’t checked it out, go give it a read.
Thank you for checking out this week’s episode. Please subscribe, give us feedback, and if you took something from the show, perhaps share some story suggestions to the email mentioned at the top.
You can read all the articles we discussed this week—links are in the episode description as well as in the post on factorthis.com.
Till next time—be good, people.
Mike Casey (18:01.923)
Take care.