News from Novi: 10 Headlines that Stood Out to Us this Week
News from Novi: 10 Headlines that Stood Out to Us this Week
Top of the list (again) is the reconciliation process and treatment of the IRA tax credits, followed by data centers/load growth
Issue 5 – Week of May 19th, 2025
1- House Oks megabill after major energy, environment changes
In the early morning of May 22nd, the House approved the latest version of the megabill. To appease fiscal conservatives, the bill proposes even greater restrictions to energy tax credits.
NOVI TAKE: If you like the IRA tax credits, not a great opening salvo, but there’s still a great deal of wrangling ahead (see below).
2- Senate GOP preps for ‘one big, beautiful’ rewrite
The House finally passed the ‘big, beautiful bill’ onto the Senate. But the Senate has already made it clear that they will not be able to pass the bill as is. There are Senators on both sides of the party line that have expressed concerns regarding Medicaid and the green-energy tax credit.
NOVI TAKE: Also, there are no SALT Republicans in the Senate …
3- China’s head start on clean energy is shaping the debate on the Republicans’ megabill
As the details of the mega bill are being argued through on the Hill – many of the decisions around what to do about the cuts related to clean energy are coming down to a fundamental divide on whether we can compete with China. The debate is whether the U.S. is still in the race against China to dominate clean energy technologies or if China’s already won leaving the US to focus on oil, natural gas, and coal.
NOVI TAKE: Seems premature to cede dominance to China and ignore all of the progress made under the IRA already.
4- Is LPO getting another new director?
The Loan Program Office may be getting its third director since Trump took office. Greg Beard, new to the Federal government, may be taking the role.
NOVI TAKE: If they are giving LPO a new director, then that means that LPO is sticking around (or “not getting doged”)?
5- Report Highlights Community Pushback Stalling $64 Billion in Data Center Development Nationwide
In Virgina activist groups are taking action against the construction of data centers, a theme that can be seen nationwide. A recent report from the Data Center Watch found that “$64 billion in U.S. data center projects have been blocked or delayed by a growing wave of local, bipartisan opposition.”
NOVI TAKE: what do you call those superhero blockbusters series? Seems like we’ve seen this movie before… NIMBY vs Data Centers
6- In Georgia, stakeholder still can’t agree on data center load growth numbers
Georgia Power is receiving push back for Georgia’s Public Service Commission on their 2025 integrated resource plan. Particularly in their forecast for load growth, concerns that they are overestimating the demands. The recommendation is to remove the assumption that the data center projects, which adds huge load growth to the grid, will be built at a higher rate than other projects.
NOVI TAKE: A sign that the rubber is hitting the road.
7- TVA is first US utility to apply for an SMR construction permit
The Tennessee Valley Authority became the first American utility to submit modular reactor construction permit application to the Nuclear Regulatory Commission, showing a commitment to Nuclear being part of the energy mix in the future.
NOVI TAKE: SMR’s have forever been on the horizon, but we finally have an indication that shovels may be put into the ground!
8- How states can pick up the slack on industrial decarbonization
As the Trump administrations attacks federal funding for clean energy and decarbonization, it may be time for States to step in and do what they can to motivate industries to deduce emissions. Though they won’t be able to provide the same amount of funding, there are many things the State governments can do for decarbonization efforts.
NOVI TAKE: We know states can do a lot …
9- Bond Market Warns Trump, Congress on Dangers of Swelling Deficit
Investors are pushing back against the current administration’s tax-cut plan as there is concern of the effects it would have by virtue of the trillions of dollars it would add to the budget deficits.
NOVI TAKE: Maybe if cooler heads can’t prevail in DC, finance will?
On April 8, 2025 Duke University held a summit on energy transitions and investment in emerging market. The James E. Rogers Energy Access project has released a summary of each panel with key insights derived from the summit.
NOVI TAKE: Honored to have been a part of celebrating all of the great work of the Energy Access Project and Jim’s legacy – we’re sure he would be delighted!