Fwd: Carbon market revamp

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Loretta Lohman

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May 20, 2026, 10:38:29 AM (2 days ago) May 20
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20 May 2026


Good morning! The sun is only just coming up in California, and we’ve got two stories from the state to start your day. The first comes from Jeff St. John, who dives deep into the effort to overhaul California’s cap-and-invest program. The carbon market is essential to meeting state climate goals, and advocates say proposed changes would put those targets out of reach.

 

The Bay Area has taken its own stab at curbing emissions with rules that would phase out the sale of gas-fueled water heaters. But as Alison F. Takemura reports, regulators are first considering whether to loosen the standards for low-income and other households.

 

And one more thing: Canary Media is bringing together the clean energy leaders shaping rural America's future — and there's a place for your organization at the table. Sponsor a branded breakout room at our Sept. 22 summit at Civic Hall during Climate Week NYC, and lead the conversations that matter most to your work. Reach out to sponso...@canarymedia.com to learn more.

Kathryn Krawczyk

NEW FROM CANARY MEDIA



TODAY'S TOP NEWS

ELECTRIC VEHICLES

  • Global sales of electric and plug-in hybrid vehicles are on track to hit a record 23 million this year, the International Energy Agency estimates, though another report shows U.S. EV sales haven’t rebounded since federal tax credits were rescinded. (IEA, Clean Investment Monitor)

UTILITIES

  • Although NextEra Energy CEO John Ketchum has doubted offshore wind’s viability in the past, he now says his firm feels “very good” about Dominion Energy’s offshore wind project as the companies look to merge. (Reuters)

  • Congressional Democrats turn their eyes to regulating utilities as they look to fight rising energy costs. (E&E News)

FOSSIL FUELS

  • Energy company Enbridge proposes a major expansion to a pipeline that carries natural gas from New Jersey into Massachusetts, which will likely ignite more debate about the Northeast’s reliance on fossil fuels. (CommonWealth Beacon)
  • South Carolina regulators approve a $5 billion, 2.2-GW gas-fired power plant to be jointly built by Dominion Energy and state-owned utility Santee Cooper at a former coal plant. (South Carolina Daily Gazette)

CLEAN ENERGY

  • U.S. corporations will buy a record amount of clean energy this year as they look to meet rising demand and capitalize on expiring tax credits, according to the Corporate Energy Buyers Association. (report)

GRID

  • Lower-than-expected demand from data centers is helping reduce the risk of power outages this summer, though reliability risks are increasing in other seasons, according to the North American grid watchdog. (E&E News)
  • Grid operator ISO New England forecasts that small-scale, behind-the-meter energy storage systems will slightly reduce summer demand peaks by 2035. (Utility Dive)
  • Grid operator PJM Interconnection gets federal permission to curtail power to data centers and other large loads in its 13-state region as hot weather and planned power plant outages threaten to strain the grid. (Utility Dive)

ELECTRIFICATION

  • Berkeley, California, implements a rule aimed at leveraging real estate transactions to reduce carbon emissions by requiring home sellers and buyers to replace gas appliances with electric ones as a condition of sale. (Bloomberg)

COAL ASH

  • A federal appeals court overturns a lower court’s decision and allows an environmental group’s lawsuit to proceed against Alabama Power’s plan to leave 21.7 million tons of coal ash sitting in an ecologically sensitive area. (Inside Climate News)

GEOTHERMAL

  • In an effort to reduce emissions, Denver plans to convert a gas-fired district steam heating network to an “ambient loop” system that uses heat pumps to exchange thermal energy with the ground and wastewater sources. (NPR)

Canary Media is an independent, nonprofit newsroom covering the transition to clean energy and solutions to the climate crisis. Donate to support us.

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