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Experts Only Podcast Countdown Week Three: The Climate Science & Communication Experts

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Since 2017 host Jon Powers has tapped experts from the worlds of clean energy, finance, technology, and climate science to share experiences, opinions, and predictions for what’s next. This fall we will post the 100th episode of the Experts Only podcast; in anticipation of that milestone, we are sharing some listener favorites from the last four years. We hope you enjoy!
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Episode #42: With Climate Communications Expert Anthony Leiserowitz

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Director of the Yale Program on Climate Change Communication

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“Early in our work we realized  that Americans don’t have a single viewpoint on climate change or frankly, any other important issue. You’ll hear a lot of people out there say, “Well, there are believers and there are deniers.” That is, unfortunately, way too simplistic and does real violence, in fact, to the reality, which is that there are a lot of different perspectives on this.”
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Episode #60: With the Climate Science Expert Dr. Michael E. Mann

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Distinguished Professor of Atmospheric Science at Penn State and director of the Penn State Earth System Science Center

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“There is this massive disparity in terms of the level of organization and resources and funds: the fossil fuel industry, the most powerful, wealthiest industry on the face of the earth on one side, and a bunch of scientists and environmentalists and other folks who don’t have those sorts of resources. But we do have a secret weapon, and that’s scientific truth. I like to think that that still matters even in the fact-challenged atmosphere that we now find ourselves.”

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Episode #17: With Arun Majumdar, Expert in Emerging Energy Technology

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 Former Director of the Department of Energy’s ARPA-E program; now at Stanford University

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“The purpose of ARPA-E, the mission, is to invest in research on breakthrough ideas. Transformative ideas that–if successful–would have the chance of creating some foundational technologies, create the foundation for new industries that do not exist today. Someone had to initiate it because frankly,  while these ideas could be wildly successful, they also were risky. And so the idea of ARPA-E is to identify these breakthrough transformative ideas and invest in them, and invest in the people who came up with these ideas.”
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Episode #27: With Energy Innovation Expert Amory Lovins

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Co-founder, Chief Scientist, and Chairman Emeritus of the Rocky Mountain Institute (RMI)

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“Brains are evenly distributed, one per person. Therefore, most of the brains are not in the rich countries. Only half are in the heads of men. Most are in the heads of poor people who are very resourceful, and we have a lot to learn if we have the humility to look at what other people are coming up with. China is making extraordinary, world-leading progress in both efficiency and renewables. We’re seeing very exciting developments at both a national and a state and city level in India in rethinking personal mobility and making it shared, connected, and electric, and also fair and accessible to everybody. Some of the technical and policy innovations there, I think will have a big influence in other countries.”
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Episode #56: With Climate Filmmaking Expert Jamie Redford

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Chairman and Co-Founder of The Redford Center

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“It’s always inspiring to meet people who are just simply on the ground doing good things without a lot of fanfare. And what you see is that there are so many wheels turning, making this new economy work. It’s not like there’s a bunch of people out there with green capes waving wands over everything. This thing [the energy transition] is happening on a daily basis at the community level, at the institutional level, at civic level, all because the simple economics are there.”
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America has the chance to lead the energy transition – will Congress hold us back?

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America has the chance to lead the energy transition – will Congress hold us back?

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By Jon Powers, president and co-founder of CleanCapital. Jon served as federal chief sustainability officer for the White House under President Barack Obama.

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President Joe Biden’s ambitious $2 trillion infrastructure plan aims to remake America’s energy sector for the 21st century. But the biggest opportunity for creating explosive growth in clean energy could come from something much simpler.
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The people making the energy transition happen—from utility-scale wind and solar developers and forward-thinking utilities to clean energy financiers, large corporate power purchasers, and centrist and progressive policy think tanks—all agree that reforming the tax code to enable 100 percent direct pay is necessary for meeting President Biden’s goals.
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Streamlining access to capital

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Direct pay is the key to ensuring U.S. projects have access to capital at low cost, high speed, and with greater certainty. It would remedy a clunky tax credit system that keeps vital tax credits for clean energy like the Production Tax Credit (PTC) and Investment Tax Credit (ITC) from fully driving the energy transition the way Congress intended. The tax equity system that has emerged to fill the gaps in that framework remains one of the largest remaining barriers to major wind and solar development. Eliminating its use here will pave the way to new jobs, cleaner power and a 21st century green economic opportunity.
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Direct pay is a simple and straightforward fix to the problems that have plagued the efficient use of the PTC and ITC. This option would transform the industry’s current reliance on the surge and freeze cycle of tax equity financing. Right now, projects that are critically needed to meet America’s climate goals and create jobs face a minefield of uncertainty around financing. When tax cuts, recessions, or other shocks to the financing system happen, the availability of tax equity investment grinds to a halt. And so do the clean energy investments that rely on that system.
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The direct pay solution

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To say this creates a major bottleneck in clean energy investment and deployment is an understatement. At a time when the opportunity for the energy transition is greatest, two thirds of wind projects set to begin construction this year are still seeking tax equity financing, along with more than half of large-scale solar projects. These delays hold America back from its potential as a global clean energy leader.
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Thankfully, a rising tide of policymakers, corporate leaders and environmental groups are calling for direct pay to help companies access capital faster, more reliably and at lower cost. Under this solution, Congress would simply allow the IRS to provide wind and solar builders the same money up front that they would have been able to eventually deduct from their taxes.
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Making direct payment an option for current and emerging technologies without the artificial constraints of the tax equity market would be one of the most transformative energy policies in decades. Offering 100 percent direct pay would not eliminate tax equity financing, but it would open massive new opportunities for investment as well as new options for conventional loan underwriting and bond issuances for large projects.
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A time for action

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Direct pay is already under consideration by the White House’s Council of Economic Advisors, but ultimately it will be up to Congress to seize the opportunity and ensure that America is leading the way on clean energy investment. A group of legislators led by Senators Tom Carper and Ron Wyden and Rep. Earl Blumenauer are already taking notice and have introduced a suite of new bills in response.
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U.S. leadership of the clean energy transition depends on American entrepreneurship and innovation. Direct pay is the most concrete action that Congress can take to send a clear signal to investors: the energy revolution will happen here.
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It is time to move past the cyclical uncertainty of the tax equity market and guarantee maximum private sector investment in U.S. leadership of the energy transition. In tandem with President Biden’s ambitious plans on energy and infrastructure, allowing full direct pay would eliminate a needless bottleneck and unleash an unprecedented wave of investment at a crucial time.
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Listen to Experts Only Podcast #98 With the Experts in Direct Pay:

Shannon Maher Bañaga, Managing Director, Public Affairs, Energy & Natural Resources at FTI Consulting Strategic Communications & Frank DeRosa, Senior Policy Advisor at 8minute Solar Energy

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Experts Only Podcast Countdown Week Two: The Finance & Investing Experts (Part 1)

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Since 2017 host Jon Powers has tapped experts from the worlds of clean energy, finance, technology, and climate science to share experiences, opinions, and predictions for what’s next. This fall we will post the 100th episode of the Experts Only podcast; in anticipation of that milestone, we are sharing some listener favorites from the last four years. We hope you enjoy!
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Episode #65: With the Expert in Sustainable Grantmaking, Marilyn Waite

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Program Officer in Environment, William and Flora Hewlett Foundation

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“It is very difficult to get that more risk-averse capital to move into the early-stage disruptive, deep decarbonization tech needed; also if it’s all climate change, understanding that capital moves in different ways, has different actors and is organized out there in the world.”
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Episode #54: With the Expert in Climate Tech Investing, Melanie Nakagawa

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Former Director of Climate Strategy, Princeville Capital

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“You’re really seeing corporate commitments and corporate policy driving a lot of the innovation and disruption that’s happening when it comes to climate and clean energy solutions, whether it’s fleet-wide targets or looking at electric vehicle fleet-wide standards, which is then driving things like improved fleet telematics or charging infrastructure or better ways to look at procurement decisions. And for other companies it’s driving the build-out of more solar and renewables.”

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Episode #88: With the Clean Energy Finance Expert Thomas Byrne

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CEO & co-founder, CleanCapital

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“In this rapidly changing and dynamic clean energy market, we want to be an investor for all different types of asset classes. So it’s going to be the smaller scale solar, storage, and community solar, but we’re also preparing ourselves to be embarking on new segments of the market that arise, new business models that are undoubtedly going to arrive here in the next couple of years.”
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Episode #74: With the Climate Impact Investing Expert, Nicole Systrom

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Founder, Sutro Energy Group

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“People are seeing how climate is more than just one thing. And there’s so many solutions that we need to address it. We can develop all the great technology we want, but if we don’t have the right financial instruments to deploy that technology or manufacture it, who cares? And we’ve got Tesla now, which shows that you can build a great big fat, sexy company that is good for the environment.”

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Episode #77: With Generation Investment Management’s ESG expert Colin le Duc

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Founding Partner, Generation Investment Management

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“The fundamental philosophy and principles of what we’re doing have not changed. We’re taking a highly focused approach to investing and taking an approach to fundamental, bottom-up, research-driven stock selection, and putting that into a long-term investing context. I think what has evolved is the level of sophistication and judgment associated to how that asset selection process is going on. The influence of ESG and the availability of information around ESG has actually come up a lot. And the specification and the nuance of the debate has come a very, very long way.”
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Guest Blog: For Utilities, It’s Time to Reassess DDoS Protection

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For utilities, it’s time to reassess DDoS protection

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Last month I had the pleasure of interviewing Richard Hummel on our podcast. Given the timeliness and critical nature of cybersecurity threats to energy companies, I invited Richard to post this guest blog to elaborate on the challenges at hand.   — Jon Powers
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By Richard Hummel, Threat Intelligence Lead, NETSCOUT

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Cyberattacks against critical infrastructure like energy utilities can cause enormous disruption in the daily lives of millions of Americans. For proof, we need look no further than the cyber attack on Colonial Pipeline, which spawned fears of fuel shortages and sparked gas lines in large swaths of the U.S earlier this year.
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In response, the Biden administration has launched a broad effort to increase cybersecurity at utilities and other critical infrastructure, with a proposed budget that includes nearly $10 billion for civilian cybersecurity next year, a 14% increase. Concurrently, a bill pending in Congress would allocate nearly $1 billion to state, local, and tribal governments to upgrade their cyber defenses, with utilities a primary focus.
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But one form of attack that utilities should always be prepared for is the oldest, and most basic: distributed denial of service (DDoS). DDoS attacks flood targeted computers with illegitimate traffic to exhaust the network, causing lags or even stopping access outright. They are not technically complicated and so can be launched by malicious actors with even rudimentary knowledge. In fact, users on the dark web can pay to have a DDoS attack launched on their behalf for as little as $7.
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A rising threat
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The most recent DDoS attack to make the news targeted Luma Energy just 10 days after the company had become the primary electricity provider for the island of Puerto Rico. The attack took down the client portal and mobile app, restricting customers’ ability to access account information. What’s worse, it was launched at the exact time the company was battling another crisis, as a fire at an electrical substation knocked out power to more than 800,000 customers.
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In 2020, we saw 10 million DDoS attacks compared to 2019, representing a 20% increase that impacted every industry and sector in the world. Specifically looking at the utilities sector, we observed 2.3k attacks in 2019 versus 7.3k attacks in 2020, representing a 217% increase in attacks year over year. The first half of 2021, we observed 4,800 attacks already with six months to go, putting us on track to once again see an increase in attacks year over year.
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Increased vulnerability
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Today, several trends within the utility sector are converging to increase the potential vulnerability to DDoS attacks, such as the proliferation of embedded Internet of Things (IoT) devices that enable remote monitoring and control, like smart meters that let utility companies measure energy usage without needing physical access to a property. These can not only be targeted for DDoS, but also compromised and appropriated to launch additional attacks.
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Furthermore, consumers are demanding more digital services: they want to pay their bills and monitor their usage online, which gives more surface area, so to speak, for an attack. And the increase in the number of utilities employees working remotely due to COVID — thus relying on digital access themselves — has exacerbated the problem.
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Increased mitigation
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The good news, however, is that most DDoS attacks can be mitigated with proper planning and resources. A good first step for a utility would be to review the average network traffic. With this baseline, utilities can extrapolate what kind of capacity they’d need to address a DDoS attack. Because of the increase in devices and digital services, utilities should expect that their network needs have expanded dramatically.
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Another good step is formalizing a response plan should a DDoS attack occur — at NETSCOUT, we always say that it’s not “if” a DDoS attack will occur, but “when.” Furthermore, even if a utility has already made such a plan, it’s worth updating it to include work-from-home factors, new IoT features on the network, and what would happen if a DDoS attack interrupted operations at key vendors or suppliers, as “supply chain attacks” are also a crucial vector.
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When energy service is disrupted, life stops for consumers and businesses alike. But while DDoS attacks can pose a significant risk to utilities, especially as the industry becomes more reliant on digital services and IoT devices, with proper preparation it’s entirely possible to stop this form of potentially devastating cyber attack.
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Tune in:

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Richard Hummel was recently interviewed on Experts Only podcast. Listen to Episode 95 here.

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