ByKevin Sheekey

How Clean Energy Fights Inflation.

Solar Is Now 33% Cheaper Than Gas Power in US

Natural gas’s dominance as power-plant fuel in the US is fading fast as the cost of electricity generated by wind farms and solar projects tumbles, according to Guggenheim Securities.

Utility-scale solar is now about a third cheaper than gas-fired power, while onshore wind is about 44% less expensive, Guggenheim said Monday in a note to clients.

“Solar and wind now present a deflationary opportunity for electric supply costs,” the analysts said, which “supports the case for economic deployment of renewables across the US.”

It’s not just the price of solar that’s cause for optimism: At the end of 2021, the US had 1,144 gigawatts of utility-scale electricity generation capacity. That includes everything from 130-year-old hydro dams to brand-new wind farms and solar projects with batteries attached. It took over a century to install all of it, and today, companies want to build almost that much capacity, all over again.

Not Just the US: China’s Solar Energy Creation to Overtake Wind By End of this Year

And in Africa: Kenya’s President Ruto Says Africa Must Leapfrog Fossil Fuel by Using Wind, Solar

Abortion Rights Debate Heats Up.

100 Days Since Roe Overturned: Biden Warns Republicans Are ‘Doubling Down’ on National Abortion Ban After 15 Weeks

October Surprise: Anti-Abortion Herschel Walker Denies Paying for Girlfriend’s Abortion as Republicans Maintain Support

The battle over US abortion rights has returned to the spotlight after the Daily Beast reported that Georgia Senate candidate Herschel Walker once paid for a girlfriend’s abortion 13 years ago. Walker, who denies the report, is a fierce advocate for a nationwide abortion ban.

Abortion has emerged as among the top issues that could decide control of the US Senate. Amid the report and the candidate’s denial, Republicans are standing by Walker in his race against Senator Raphael Warnock. Georgia is seen as a ‘must win’ seat for Republicans to take back control of the Senate.

To make matters worse for Walker, his son Christian posted a video on Twitter to criticize his father for lying about his past, saying: “I don’t care about someone who has a bad past and takes accountability. But how dare you lie and act as though you’re some ‘moral, Christian, upright man.’ You’ve lived a life of destroying other peoples lives.”

Click here to watch Christian’s powerful video.

What I’m Reading.

UK Latest: Liz Truss Seeks to Rally Tories at Party Conference, Saying Disruption Is Needed

In a speech at the annual Tory Party Conference in Birmingham on Wednesday, Truss acknowledged the rocky start to her premiership after a bruising week where her own MPs criticized her tax cuts, leading her to U-turn on a key policy. Click here for more from her speech.

Market Watch: EU to Use ‘Every Lever’ to Maintain Financial Stability

The financial system has shown its resilience, first during Covid-19 and now in the wake of the war in Ukraine, but “we are also very mindful that things can change,” EU financial services commissioner Mairead McGuinness said in an interview on Bloomberg TV. “Every lever we have policy-wise to maintain stability will be used fully.”

Hurricane Ian Recovery Latest: Death Toll Surpasses 100 in Florida as President Biden Prepares to Tour Damage Today

‘Extreme’ Court Latest: Conservative US Supreme Court Justices Mull Curbing Black Voting District as Justice Jackson Balks

At issue is whether Alabama must draw a second heavily Black congressional district for a state that has seven House seats and a 27% Black population. The case could deliver a fresh blow to the Voting Rights Act, the 1965 law designed to protect minority voters at the ballot box.

Iran Protests Simmer: Anti-Government Outrage Spreads to Universities, High Schools Across Iran

The protests, which emerged in response to the death of 22-year-old Mahsa Amini after her arrest for allegedly violating the Islamic Republic’s strict dress code, have embroiled dozens of cities across the country and evolved into the most widespread challenge to Iran’s leadership in years.

First on Bloomberg: Elon Musk Revives $44 Billion Twitter Bid, Aiming to Avoid Trial

‘Office Evangelists’ Step Up: In Return-to-Office Tug of War, These Employees Savor In-Person Working Again

Hedge Fund News: Ray Dalio Gives Up Control of Bridgewater in Final Succession Step

Today in EU Tech: Apple Will Be Forced to Use New Charger After EU Votes for USB-C

Royal Visit: Princess Anne Visits New York City Tuesday, Stops By Staten Island Ferry

NYC Arts to the World: Met Opera Starts Streaming of Live Performances to Homes

The Metropolitan Opera is expanding its program called ‘The Met: Live at Home’ of direct-to-home streaming of its performances in areas that don’t have movie theater transmissions, among them Brazil and Italy. Operas will be available for streams in 171 countries and territories beyond the 50 who have had movie-theater access. The cost will be $10-$20 per opera, which will be available for replays in a seven-day window. Bloomberg Philanthropies is providing digital support for ‘The Met: Live in HD’ program.

Best of Late Night.

“At a fishing tournament in Cleveland on Friday, a duo that had been declared winners were caught cheating. Of course, this was fishing, so after they were caught, they were released.”
— Stephen Colbert

‌”It’s a lakeside fishing scandal so explosive, many are calling it ‘Watergate.’”
— Stephen Colbert

‌”In a million years, I would never be able to guess that professional fishermen’s trash talk would include the phrase, ‘Where’s your crown now?’”
— James Corden

On Katz’s Delicatessen partnering with sandwich shop Alidoro to release a New York Subway-themed sandwich:

‌”Katz’s will release the so-called 1904 Signature Sub this month in honor of the NYC subway systems’ 118th birthday. And if you’re wondering what the subway was like 118 years ago – ride it.”
— Seth Meyers

And the best of satire:

Donald Trump Furious at Herschel Walker: “Only a Loser Pays His Bills”

About the Sheekey Daily Read

I’m always searching for the stories that shine a light on – and offer solutions to – some of the most pressing issues of our time. I started my daily email to capture and share the stories I think are important. Thanks for reading!
– Kevin Sheekey

By submitting my information, I agree to the privacy policy and to learn more about products and services from Bloomberg.