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America’s green manufacturing boom, from electric vehicle batteries to solar panel production, isn’t yet fueled by renewable energy

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Panasonic’s recent $4 billion battery plant in De Soto, Kansas, is designed as a model of sustainability – it all-electric factory without the necessity to use a chimney. When accomplished, it would be the scale of 48 football pitches, employ 4,000 people and produce enough advanced batteries to power half one million electric cars a yr.

But there may be a catch, and it’s a giant one.

Although the factory will probably be powered by wind and solar energy more often than not, renewable energy sources provided only 34% electricity from the local company Everrgy in 2023.

In a lot of the United States, fossil fuels still play a key role in meeting energy demand. In fact, Everrgy asked for permission extend the lifetime of an old coal-fired power plant to meet the growing demand, including: from the battery factory.

I used to be there with my students at Wellesley College tracking the expansion of investments in clean energy production and the way these projects – including battery, solar panel and wind turbine production and their supply chains – map on the national energy grid.

The Kansas battery plant highlights the challenges ahead because the United States increases production of fresh energy technologies and transitions away from fossil fuels. It also illustrates the industry’s potential to speed up the transition to renewable energy across the country.

Boom within the production of fresh technologies

Let’s start with the excellent news.

In the battery sector alone, firms have announced plans to construct 44 large factories that may give you the option to produce enough battery cells to power greater than 10 million electric vehicles per yr in 2030.

This is the dimensions of commitment needed if the United States goes to address climate change and meet recent auto emissions standards announced in March 2024.

The challenge: These battery factories and the electric vehicles they equip would require quite a lot of electricity.

Producing enough battery cells According to one researcher, to store 1 kilowatt-hour (kWh) of electricity – enough to drive 2 to 6 miles in an electric automobile – requires about 30 kWh of production energy. recent research.

Combining these estimates and our trackingWe project that in 2030, U.S. battery production would require roughly 30 billion kWh of electricity per yr, assuming the factories are powered by electricity, just like the one in Kansas. This equates to roughly 2% of all U.S. industrial electricity consumption in 2022.

Huge solar potential of the battery belt

Numerous these plants are planned for a region of the southern United States called “battery beltThe potential of solar energy is high in much of the region, but the facility grid does there’s little use in it.

Our tracking has been found that three-quarters of battery production capability is situated within the states lower than average production of electricity from renewable sources Today. Almost all of those places will see more demand marginal emissionsbecause this extra power almost at all times comes from fossil fuels.

But we also track which battery firms are committing to powering their manufacturing operations with renewable energy, and the information points to a cleaner future.

By our calculations, half of the batteries will probably be produced in factories which have committed to sourcing at the least 50% of their electricity needs from renewable sources by 2030. Moreover, these commitments are concentrated in US regions where investment is lagging.

Some firms are already taking motion. Tesla is constructing the world’s largest solar panel on the roof of his factory in Texas. LG has committed to supply 100% renewable solar and hydro energy for a brand new cathode plant in Tennessee. Panasonic is taking steps to achieve this net zero emissions for all its factories, including the brand new one in Kansas, by 2030.

Greater corporate commitments could help boost demand for wind and solar power within the emerging battery belt.

What does this mean for electricity demand within the US?

Producing all these batteries and charging all these electric vehicles will put way more demand on the facility grid. But this is just not an argument against electric vehicles. Anything that may be connected to the grid, whether it’s an electric vehicle or a factory producing batteries, is getting cleaner as more renewable energy sources grow to be available.

This transition is already happening. Although natural gas dominates electricity generation, in 2023 Renewable energy sources provided more electricity than coal for the primary time in US history. The government forecasts that in 2024, 96% of latest electricity generation capability added to the grid, including batteries, will probably be fossil fuel-free. These trends are gaining momentum, thanks incentives for the use of fresh energy included within the Act on Reducing Inflation by 2022.

Looking to the longer term

The most vital lesson is that the challenge in Kansas is just not the battery plant – however the increasingly outdated electric grid.

As we speed up investment in a clean energy future, America can have to do exactly that redesign much of its energy grid use increasingly more renewable energy sources and at the identical time electrify every little thing, from cars to factories to homes.

This implies that investing within the modernization, expansion and decarbonization of the electricity grid is as necessary as constructing recent factories or switching to electric cars.

Investments in clean energy production will play a key role in enabling this transition: among the recent advanced batteries will probably be used on the grid, ensuring backup energy storage at times when renewable energy production is declining or electricity demand is especially high.

In January, Hawaii replaced its own the last coal power plant with a complicated battery system. It won’t be long before this starts happening in Tennessee, Texas and Kansas, too.

This article was originally published on : theconversation.com
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Business and Finance

David Shands and Donni Wiggins host the “My First Million” conference at ATL

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December is the birth month of David Shands and Donnie Wiggins, friends and business partners. Most people have fun by throwing a celebration. Others imagine it must be catered for. The chosen ones spend the day relaxing in peace and quiet.

Then there’s Shands and Wiggins.

The two decided that the best birthday gift can be to offer individuals with resources for generational wealth through a conference called “My first million”in Atlanta.

It’s a compromise between how their families and family members need to honor them and their desire to proceed to serve others. Shands acknowledges that almost all people won’t understand, and he unapologetically doesn’t expect them to.

“It’s not up to us to convince anyone why we do what we do,” admits Shands.

“I think everyone does what they do for different reasons, and I would just attribute it to a sense of accomplishment that I can’t explain to anyone else.”

He doesn’t need to clarify this to Wiggins because she understands his feelings. Wiggins has had a passion for serving others for so long as she will be able to remember.

“When I was in middle school, there were child sponsorship ads on TV featuring children from third world countries. I was earning money at the time and I asked my mother to send money,” she says BLACK ENTERPRISES.

She recalls how sad she felt for youngsters living in a world with so many opportunities, but at the same time going hungry. Her mother allowed her to send money, and in return she received letters informing her of their progress.

“It was very real to me,” Wiggins says, now admitting she’s undecided the letters were authentic. “I received a letter from the child I sponsored, a photograph and some updates throughout the 12 months. It was such a sense of being overwhelmed and it was something I felt so good about. I didn’t even tell my friends I used to be doing it.”

She carried this sense throughout her life, even when she lost every little thing, including her house, cars, and money. She still found ways to serve and give back, which is the basis of her friendship with Shands.

They each love seeing people at the peak of their potential, and that is what “My First Million” is all about. There can be no higher birthday gift for them than helping others create generational wealth.

What to expect during the “My First Million” conference.

They each built successful seven-figure empires, then train others, write books about it, and launch an acclaimed podcast Social proof.

Now they’re imparting that knowledge through the My First Million conference, an event for aspiring and existing entrepreneurs. Shands and Wiggins need to prove that being profitable is feasible and encourage people to bet on themselves.

“David and I, on paper, are not two people who should have made millions of dollars. Number one, we want (people) to see it,” Wiggins says. “Then we want them to actually get out of that room with practical and actionable steps.”

Both are clear: this just isn’t a motivational conference. This is a conference where people, irrespective of where they’re of their journey, will come away with clarity about their business and what they must be doing as CEOs. Shands and Wiggins want individuals who do not have a transparent marketing strategy or are considering starting a business to also attend the meeting.

“A few areas we will cover are inspiration, information, plan and partnership,” adds Shands. “We will give you 1-2-3 steps because some people get depressed and uninspired. Even if they know what to do, they won’t leave, go home and do it. So we have to really put something into their heads and hearts that they come away with.”

Sign up and enroll for My First Million Here. The conference will happen on December 13 this 12 months. but Shands and Wiggins say it definitely won’t be the last for those who miss it.


This article was originally published on : www.blackenterprise.com
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Business and Finance

Operation HOPE on the occasion of the 10th annual world forum

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Operation HOPE Inc. takes over Atlanta for the biggest game in the country dedicated to financial literacy and economic empowerment, Saporta reports.

The HOPE Global Forums (HGF) Annual Meeting 2024 strengthens the crucial link between financial education, innovation and community upliftment in hopes of finding solutions to the problems that stifle challenges around the world.

Organized by Operation HOPE founder John Hope Bryant, together with co-chairs Atlanta Mayor Andre Dickens and U.S. Ambassador Andrew Young, the forums, to be held December Sep 11 at the Signia Hotel, will have fun its 10th anniversary with three days of engagement discussions, observations and forward-looking presentations.

Under the theme “The Future,” Hope Bryant says attendees are looking forward to a “powerful moment in history.”

“Over the past decade, we’ve brought together great minds with daring ideas, servant leaders with voices for change, and other people committed to a brand new vision of the world as we realize it. “‘The Future’ is a clear call to action for leaders to help ensure prosperity in every corner of society,” he said.

The extensive program includes influential and well-known speakers who address business, philanthropy, government and civil society. Confirmed speakers include White House correspondent Francesca Chambers, media specialist Van Jones and BET Media Group president and CEO Scott M. Mills.

“John Hope Bryant and his team have been doing this for ten years, and every year HGF raises the bar,” Young said. “Discussions about the FUTURE are important not only for civil dialogue; they are also essential to bridging the economic divide and solving some of today’s most important problems.”

Atlanta is predicted to welcome greater than 5,200 delegates representing greater than 40 countries.

“I have long said that Atlanta is a group project, and through our partnership with HOPE Global Forums, we are inviting the world to join the conversation,” Dickens mentioned. “From home ownership and entrepreneurship to youth engagement and financial education, HGF will offer bold and innovative ideas to ensure a bright future for all.”

It coincided with the organization’s annual meeting launched one other path to enhance financial knowledge with HOPE scholarships. With three tiers of scholarships – HOPE Lite, HOPE Classic and HOPE Silver – clients could have access to free financial coaching and academic resources.


This article was originally published on : www.blackenterprise.com
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Business and Finance

New Orleans’ black business district is marked by history

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New Orleans, Black Business Disctrict


New Orleans has given a historic monument to a Black business district closed for interstate construction.

The marker was a project fulfilled by in response to the initiative of Plessy and Ferguson. Founded by descendants of men involved within the Plessy v. Ferguson case that legalized segregation within the United States, the organization worked with other community groups to put a marker under the Claiborne Viaduct.

Before the upheaval, Black New Orleanians could find stores owned by other members of their community on Claiborne Avenue. Racial discrimination originally limited the power to buy on the famous Canal Street. Given this, blacks as an alternative flocked to the realm to purchase every little thing from groceries to funeral arrangements.

This mall was home to many Black-owned businesses, and emerging and established entrepreneurs had arrange shop for generations. Consisting of pharmacies, theaters, studios and more, it helped maintain a vibrant black culture in the realm. It reigned because the most important street of Black New Orleans from the 1830s to the Seventies.

The street once featured a picturesque cover of oak trees surrounding bustling businesses. However, its decline began with the expansion of roads within the southern state. The first casualty was the oak trees that were cut all the way down to make way for the development of Interstate 10, and shortly thereafter, the district’s thriving entrepreneurs suffered an identical fate.

Many residents do not forget that they didn’t know in regards to the upcoming investment until the trees began falling. Raynard Sanders, a historian and executive director of the Claiborne Avenue History Project, remembered the “devastation” felt by the community.

“It was devastation for those of us who were here,” Sanders told the news outlet. “I was walking to school and they were cutting down oak trees. We had no warning.”

Despite its eventual decline, the district stays an integral a part of Black New Orleans entrepreneurship. Now the town will physically resemble a historic center where Black business owners could thrive. They celebrated the revealing of the statue in true New Orleans style with a second line that danced down Claiborne Avenue.

“The significance of this sign is to commemorate the businesses, beautiful trees and beautiful people that thrived in this area before the bridge was built, and to save the people who still stand proud and gather under the bridge,” also said Keith Plessy, a descendant of Homer Plessy’ ego.

The growth of local black businesses continues. Patrons and owners alike hope to evoke the spirit of Claiborne’s original entrepreneurs, empowering the community.


This article was originally published on : www.blackenterprise.com
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