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Shift Key with Robinson Meyer and Jesse Jenkins
How Jigar Shah Thinks About Risk
Jigar Shah might have more control over America’s new wave of industrial policy — not to mention its climate policy — than anyone not named Joe Biden. And he’s not even a Cabinet-level official. As director of the Department of Energy’s Loan Programs Office, which is akin to its in-house bank, Shah oversees how roughly $400 billion in lending authority will be spent. That money will help finance new EV factories, geothermal wells, carbon capture sites, and more.
On this week’s episode, Rob sits down with Shah to discuss the philosophy that he brings to his role. When financing new projects — many of which are the first of their kind — how does he think about cash flow, about technological innovation, about risk? Robinson Meyer is executive editor of Heatmap News; Jesse Jenkins, an energy systems engineering professor at Princeton, is off this week.
Mentioned:
The Loan Programs Office: Building a Bridge to Bankability
The Race to Spend the I.R.A.’s $100 Billion in Grants Has Begun
Ezra Klein’s theory of “everything-bagel liberalism”
Rob on the questions swirling at one-time LPO beneficiary Tesla
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This episode of Shift Key is sponsored by…
KORE Power provides the commercial, industrial, and utility markets with functional solutions that advance the clean energy transition worldwide. KORE Power's technology and manufacturing capabilities provide direct access to next generation battery cells, energy storage systems that scale to grid+, EV power & infrastructure, and intuitive asset management to unlock energy strategies across a myriad of applications. Explore more at korepower.com.
Watershed's climate data engine helps companies measure and reduce their emissions, turning the data they already have into an audit-ready carbon footprint backed by the latest climate science. Get the sustainability data you need in weeks, not months. Learn more at watershed.com.
Music for Shift Key is by Adam Kromelow.
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15. The World Will Miss 1.5C. What Comes Next?
59:10||Season 2, Ep. 15Here’s the bad news: The world is almost certainly going to miss the Paris Agreement’s goal of keeping global temperatures from rising beyond 1.5 degrees Celsius over pre-industrial levels. The needed emissions cuts are too large and the direction of policy too slow to lead to any other outcome. In the next few decades, global warming will slip past the 1.5 degree mark — and temperatures will keep rising.What does that mean? What comes next? And how should we feel about that? On this week’s episode of Shift Key, Rob and Jesse chat with Kate Marvel, an associate research scientist at Columbia University and the NASA Goddard Institute for Space Studies. We talk about why every 10th of a degree matters in the fight against climate change, the difference between tipping points and destabilizing feedback loops, and how to think about climate change in a disappointing time. Shift Key is hosted by Robinson Meyer, the founding executive editor of Heatmap, and Jesse Jenkins, a professor of energy systems engineering at Princeton University.Mentioned: The UN Environmental Program’s emissions gap reportThe IPCC’s monumental report on the risks of 1.5C of temperature riseJesse’s post-Trump op-ed: Trump Is Not the End of the Climate FightRob’s piece from 2023 on the “end of climate science”Trump’s Energy Secretary-designate Chris Wright’s speech at the American Conservation Coalition SummitJesse’s downshift; Rob’s upshift. --This episode of Shift Key is sponsored by …Watershed’s climate data engine helps companies measure and reduce their emissions, turning the data they already have into an audit-ready carbon footprint backed by the latest climate science. Get the sustainability data you need in weeks, not months. Learn more at watershed.com.As a global leader in PV and ESS solutions, Sungrow invests heavily in research and development, constantly pushing the boundaries of solar and battery inverter technology. Discover why Sungrow is the essential component of the clean energy transition by visiting sungrowpower.com.Intersolar & Energy Storage North America is the premier U.S.-based conference and trade show focused on solar, energy storage, and EV charging infrastructure. To learn more, visit intersolar.us.Music for Shift Key is by Adam Kromelow.14. Trump, China, and Climate Change: What Happens Next?
01:04:51||Season 2, Ep. 14The rollbacks are coming. Donald Trump’s incoming administration is expected to pull the United States out of the Paris Agreement, weaken the Environmental Protection Agency’s rules for power plants and tailpipe pollution, and — potentially — rewrite or repeal big swaths of the Inflation Reduction Act. Each of those actions would seem to provide an opening for the world’s No. 1 polluter — China — to assert global leadership and zip ahead in the next generation of clean energy technology.How will it respond? On this week’s episode of Shift Key, Rob and Jesse chat with Jeremy Wallace, the A. Doak Barnett Professor of China Studies at Johns Hopkins University. Wallace, a Heatmap contributor, helps us understand how China is thinking about Trump, the current state of China’s economy, and why China sometimes flexes its climate leadership — but just as often doesn’t. Shift Key is hosted by Robinson Meyer, the founding executive editor of Heatmap, and Jesse Jenkins, a professor of energy systems engineering at Princeton University.Mentioned: Jeremy Wallace on how China will respond to U.S. reversalsJeremy’s writing on China, clean energy, and tradeRob on how the Biden administration thought about China and clean energy The Draghi report: EU competitiveness: Looking ahead--This episode of Shift Key is sponsored by …Watershed’s climate data engine helps companies measure and reduce their emissions, turning the data they already have into an audit-ready carbon footprint backed by the latest climate science. Get the sustainability data you need in weeks, not months. Learn more at watershed.com.As a global leader in PV and ESS solutions, Sungrow invests heavily in research and development, constantly pushing the boundaries of solar and battery inverter technology. Discover why Sungrow is the essential component of the clean energy transition by visiting sungrowpower.com.Intersolar & Energy Storage North America is the premier U.S.-based conference and trade show focused on solar, energy storage, and EV charging infrastructure. To learn more, visit intersolar.us.Music for Shift Key is by Adam Kromelow.13. The Inflation Reduction Act Is About to Be Tested
45:53||Season 2, Ep. 13Last night, Donald Trump secured a second term in the White House. He campaigned on an aggressively pro-fossil -fuel agenda, promising to repeal the Inflation Reduction Act, Biden’s landmark 2022 climate law, and roll back Environmental Protection Agency rules governing power plant and car and truck pollution.On this week’s episode of Shift Key, Jesse and Rob pick through the results of the election and try to figure out where climate advocates go from here. What will Trump 2.0 mean for the federal government’s climate policy? Did climate policies notch any wins at the state level on Tuesday night? And where should decarbonization advocates focus their energy in the months and years to come? Shift Key is hosted by Robinson Meyer, the founding executive editor of Heatmap, and Jesse Jenkins, a professor of energy systems engineering at Princeton University.Mentioned: Rob’s post-election story: Trump Won. Now the Fight Over the Clean Energy Economy Begins.Heatmap’s rundown of climate election results around the countryHow clean energy stocks are faring post-Trump’s win--This episode of Shift Key is sponsored by …Watershed’s climate data engine helps companies measure and reduce their emissions, turning the data they already have into an audit-ready carbon footprint backed by the latest climate science. Get the sustainability data you need in weeks, not months. Learn more at watershed.com.As a global leader in PV and ESS solutions, Sungrow invests heavily in research and development, constantly pushing the boundaries of solar and battery inverter technology. Discover why Sungrow is the essential component of the clean energy transition by visiting sungrowpower.com.Intersolar & Energy Storage North America is the premier U.S.-based conference and trade show focused on solar, energy storage, and EV charging infrastructure. To learn more, visit intersolar.us.Music for Shift Key is by Adam Kromelow.12. Climate-o-Rama: EVs, Oil, Trump, and More
59:24||Season 2, Ep. 12It’s all happening. The presidential election is a week away, and our cohost Jesse Jenkins is back from vacation. There is so much to talk about in the world of decarbonization and energy. So we tried to catch up on all of it. Are EV sales starting to rebound in the U.S.? What’s up with the Cybertruck? And what about Senator Joe Manchin’s permitting reform bill? On this week’s episode of Shift Key, Jesse and Rob attempt to discuss all those questions and more. Peak oil demand — the IRA’s focus on manufacturing — the emerging political economy of decarbonization — we hit it all. Or we try to, at least. Shift Key is hosted by Robinson Meyer, the founding executive editor of Heatmap, and Jesse Jenkins, a professor of energy systems engineering at Princeton University.Mentioned: Q3 EV sales; GM beats expectationsIs Tesla struggling to convert Cybertruck preorders? Jesse was wrong about Cybertruck sales: Exhibit 1, Exhibit 2The IEA projects peak demand for fossil fuels.The importance of local PUC electionsNew York’s hydrogen hub is on iceJesse’s upshift; Rob’s upshift.--This episode of Shift Key is sponsored by …Watershed’s climate data engine helps companies measure and reduce their emissions, turning the data they already have into an audit-ready carbon footprint backed by the latest climate science. Get the sustainability data you need in weeks, not months. Learn more at watershed.com.As a global leader in PV and ESS solutions, Sungrow invests heavily in research and development, constantly pushing the boundaries of solar and battery inverter technology. Discover why Sungrow is the essential component of the clean energy transition by visiting sungrowpower.com.Intersolar & Energy Storage North America is the premier U.S.-based conference and trade show focused on solar, energy storage, and EV charging infrastructure. To learn more, visit intersolar.us.Music for Shift Key is by Adam Kromelow.11. Are Democrats the Party of Nuclear Now?
01:02:06||Season 2, Ep. 11Over the past two months, the country’s biggest tech companies have announced a flurry of deals with advanced and conventional nuclear companies. At the same time, Democratic candidates running for federal office — including Kamala Harris and a handful of Senate candidates — have touted their support of building new nuclear power plants. Has nuclear’s moment finally arrived?On this week’s episode of Shift Key, we have Josh Freed, the senior vice president of Third Way’s climate and energy program, discussing why nuclear might be about to boom, why Democrats are embracing nuclear, and whether a Trump administration could derail the investments. This episode of Shift Key is hosted by Robinson Meyer, the founding executive editor of Heatmap, and Jillian Goodman, Heatmap’s deputy editor. Shift Key co-host Jesse Jenkins, a professor of energy systems engineering at Princeton University, is out this week.Mentioned: What Makes Amazon’s Big Nuclear Deal DifferentMicrosoft’s Mega Deal Is a Massive Victory for Nuclear PowerGoogle’s deal with Kairos EnergyDemocrats Embrace Nuclear Power In Heated Senate Races, by Alexander KaufmanJillian’s upshift/downshift, Rob’s upshift.--This episode of Shift Key is sponsored by …Watershed’s climate data engine helps companies measure and reduce their emissions, turning the data they already have into an audit-ready carbon footprint backed by the latest climate science. Get the sustainability data you need in weeks, not months. Learn more at watershed.com.As a global leader in PV and ESS solutions, Sungrow invests heavily in research and development, constantly pushing the boundaries of solar and battery inverter technology. Discover why Sungrow is the essential component of the clean energy transition by visiting sungrowpower.com.Intersolar & Energy Storage North America is the premier U.S.-based conference and trade show focused on solar, energy storage, and EV charging infrastructure. To learn more, visit intersolar.us.Music for Shift Key is by Adam Kromelow.10. Talking Permitting Reform, Trade, and More With Biden’s Top Climate Advisor
01:01:06||Season 2, Ep. 10What’s next for the Biden administration — and for climate policy in the United States? Should Democrats negotiate with Republicans over permitting reform, even if it means making concessions to fossil fuel interests? And how should the country’s trade policy handle the problem of carbon pollution? On this week’s episode of Shift Key, Rob speaks with Ali Zaidi, the national climate advisor to President Joe Biden. Zaidi leads the White House Climate Policy Office, which coordinates domestic climate policy across federal agencies. Before joining the White House in 2021, Zaidi was the state of New York’s deputy secretary for energy and environment. This interview was recorded live on October 10 in New Haven, Connecticut, at the Yale Clean Energy Conference. Shift Key is hosted by Robinson Meyer, the founding executive editor of Heatmap, and Jesse Jenkins, a professor of energy systems engineering at Princeton University. Jesse is out this week.Mentioned: Rob on housing policy as climate policyHydrogen Tax Credit Rules Will Be Done by the End of the YearRob’s upshift, and his other upshift.--This episode of Shift Key is sponsored by …Watershed’s climate data engine helps companies measure and reduce their emissions, turning the data they already have into an audit-ready carbon footprint backed by the latest climate science. Get the sustainability data you need in weeks, not months. Learn more at watershed.com.As a global leader in PV and ESS solutions, Sungrow invests heavily in research and development, constantly pushing the boundaries of solar and battery inverter technology. Discover why Sungrow is the essential component of the clean energy transition by visiting sungrowpower.com.Intersolar & Energy Storage North America is the premier U.S.-based conference and trade show focused on solar, energy storage, and EV charging infrastructure. To learn more, visit intersolar.us.Music for Shift Key is by Adam Kromelow.9. Want to Decarbonize Your Life? Here’s How.
01:05:58||Season 2, Ep. 9How can you fight climate change in your daily life? Last month, Heatmap published our attempt at answering that question: Called Decarbonize Your Life, it’s a series of stories and guides to help you make decisions that nudge the energy system away from fossil fuels. We consulted studies, ran our own analysis (with help from some friends), and used our expert judgment to arrive at six big, high-leverage actions you can take to fight climate change.On this week’s episode of Shift Key, Jesse and Rob speak with Heatmap’s deputy editor Jillian Goodman and founding staff writer Emily Pontecorvo about what those actions are, how the guide came together, and why big choices matter so much more than small ones. Shift Key is hosted by Robinson Meyer, the founding executive editor of Heatmap, and Jesse Jenkins, a professor of energy systems engineering at Princeton University.Mentioned: Decarbonize Your LifeQuantifying the potential for climate change mitigation of consumption optionsEmily on WattTime’s work with AppleEmily on heat pumpsJillian on the climate food rulesRob on switching to an EVRob and Emily on why we don’t include flyingJesse’s downshift (sorta); Rob’s upshift.--This episode of Shift Key is sponsored by …Watershed’s climate data engine helps companies measure and reduce their emissions, turning the data they already have into an audit-ready carbon footprint backed by the latest climate science. Get the sustainability data you need in weeks, not months. Learn more at watershed.com.As a global leader in PV and ESS solutions, Sungrow invests heavily in research and development, constantly pushing the boundaries of solar and battery inverter technology. Discover why Sungrow is the essential component of the clean energy transition by visiting sungrowpower.com.Intersolar & Energy Storage North America is the premier U.S.-based conference and trade show focused on solar, energy storage, and EV charging infrastructure. To learn more, visit intersolar.us.Music for Shift Key is by Adam Kromelow.8.5. How Climate Change Shaped Hurricane Helene
48:25||Season 2, Ep. 8.5This is a special Hurricane Helene edition of Shift Key. Our regular programming will resume next week.Nearly a week after Hurricane Helene made landfall, we are still coming to terms with the scale of its destruction. The storm killed at least 182 people, making it the deadliest cyclone to make landfall in the continental United States since Katrina. From Tampa Bay to Asheville, North Carolina, it caused the worst hurricane-related damage in a century.Why was Hurricane Helene so bad? Why did it cause such horrible flooding in western North Carolina, South Carolina, Tennessee, and Georgia? And did climate change have anything to do with its destruction? To answer these questions, Rob and Jesse speak with Gabriel Vecchi, a Princeton geoscientist and one of the world’s top experts on hurricanes and climate change. Shift Key is hosted by Robinson Meyer is the founding executive editor of Heatmap, and Jesse Jenkins is a professor of energy systems engineering at Princeton University.Mentioned: Vecchi’s study on how hurricanes will get wetter as the climate warms An early attribution study on Hurricane Helene and climate changeThe Wall Street Journal: Why Helene Devastated an Area So Far InlandThe Average U.S. Hurricane Kills 7,000 to 11,000 PeopleIn terms of organizations on the ground, we like World Central Kitchen and the North Carolina Disaster Relief Fund.--This episode of Shift Key is sponsored by …Watershed’s climate data engine helps companies measure and reduce their emissions, turning the data they already have into an audit-ready carbon footprint backed by the latest climate science. Get the sustainability data you need in weeks, not months. Learn more at watershed.com.As a global leader in PV and ESS solutions, Sungrow invests heavily in research and development, constantly pushing the boundaries of solar and battery inverter technology. Discover why Sungrow is the essential component of the clean energy transition by visiting sungrowpower.com.Intersolar & Energy Storage North America is the premier U.S.-based conference and trade show focused on solar, energy storage, and EV charging infrastructure. To learn more, visit intersolar.us.Music for Shift Key is by Adam Kromelow.8. The Local Elections That Matter for Decarbonization
51:10||Season 2, Ep. 8In just over a month, America will elect hundreds of thousands of people to state, county, and municipal offices. While those elections might lack the splashiness of the race for the White House or Congress, they could shape how and whether the United States fights climate change. So which elections matter most?On this week’s episode of Shift Key, Jesse and Rob speak with Caroline Spears, the executive director of Climate Cabinet, a group that tries to do ‘Moneyball for climate policy,’ analyzing the races that could matter most for the country’s decarbonization. A winner of the Grist 50 award, Spears formerly worked in the solar industry and now leads the growing organization. We dive into which offices have the most sway role over adaptation and mitigation and which races deserve your attention in 2024. Shift Key is hosted by Robinson Meyer, the founding executive editor of Heatmap, and Jesse Jenkins, a professor of energy systems engineering at Princeton University.Mentioned: Climate CabinetRob’s upshift, Jesse’s downshift.--This episode of Shift Key is sponsored by …Watershed’s climate data engine helps companies measure and reduce their emissions, turning the data they already have into an audit-ready carbon footprint backed by the latest climate science. Get the sustainability data you need in weeks, not months. Learn more at watershed.com.As a global leader in PV and ESS solutions, Sungrow invests heavily in research and development, constantly pushing the boundaries of solar and battery inverter technology. Discover why Sungrow is the essential component of the clean energy transition by visiting sungrowpower.com.Intersolar & Energy Storage North America is the premier U.S.-based conference and trade show focused on solar, energy storage, and EV charging infrastructure. To learn more, visit intersolar.us.Music for Shift Key is by Adam Kromelow.