The energy transition, decoded. Every week, three industry veterans explore the tech breakthroughs, market shakeups, and policy shifts that are driving the bigg...
Major U.S. financial institutions are backing away from climate commitments – all six largest American banks have exited the Net-Zero Banking Alliance, BlackRock has quit comparable initiatives, and the Federal Reserve has withdrawn from climate risk assessment networks. Is this merely rebranding for the Trump era, or a fundamental shift in how finance approaches sustainable investments?
In this episode of Open Circuit, we examine what's driving this retreat — from political and legal pressures to economic realities. Despite the public pullback, investment data shows a more nuanced picture, even as institutions shift from decarbonizing portfolios to "de-risking” portfolios. We’ll also take a look at the market correction for private equity investments in clean energy.
Then, we dive into the ongoing debate about Bidenomics, sparked by economist Jason Furman's recent Foreign Affairs critique. Did the Inflation Reduction Act's climate provisions represent inefficient economic policy? Co-hosts Jigar Shah and Katherine Hamilton, who helped craft and implement the IRA, provide perspectives on design, implementation, and early results.
For transcripts and more on the stories we discuss in the show, subscribe to Latitude Media's newsletter.
Open Circuit is supported by Kraken, the only proven, AI-powered operating system for utilities. Learn how Kraken helps unlock excellent customer experiences, increased innovation and reduced operational costs at kraken.tech.
Open Circuit is brought to you by On.Energy. As one of the fastest-growing battery storage IPPs, On.Energy delivers turnkey resiliency solutions for utilities and enterprise customers. Whether you’re managing data centers or local grids, we help bring storage to your fleet. Learn more at on.energy.
Credits: Co-hosted by Stephen Lacey, Jigar Shah, and Katherine Hamilton. Produced and edited by Stephen Lacey. Original music and engineering by Sean Marquand.
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1:08:32
Musk takes a chainsaw to 'energy dominance'
Elon Musk built Tesla with help from government loans and carbon credits. Today, he's swinging a chainsaw at the very agencies that launched his empire — while directly undermining President Trump's "energy dominance" agenda.
In this episode of Open Circuit, we examine the impact of the Department of Government Efficiency's indiscriminate cuts. When these cuts hit nuclear security teams and grid operators at the Bonneville Power Administration, officials had to hastily reverse course. What are the real-world impacts to critical infrastructure?
We also explore how a sweeping executive order could restructure federal energy regulation. FERC — traditionally an independent, technical body — will now require White House approval for decisions. How could it slow down decisions and impact electricity markets?
And at EPA, officials are attempting to claw back $20 billion in legally committed green bank funding, prompting a federal prosecutor to resign rather than pursue what she saw as a baseless investigation. What does the EPA's approach tell us about the administration's lack of strategy?
Then we turn to Texas, where market forces are telling a different story. Despite a $5 billion subsidy program for gas plants, developers are walking away. French energy giant Engie recently abandoned two projects, citing equipment shortages and rising costs.
Meanwhile, clean energy is thriving without subsidies. Solar and batteries set new performance records last year, with zero-carbon power now providing 47% of Texas electricity. What does Texas tell us about the role of gas in the new era of load growth?
Open Circuit is brought to you by On.Energy. As one of the fastest-growing battery storage IPPs, On.Energy delivers turnkey resiliency solutions for utilities and enterprise customers. Whether you’re managing data centers or local grids, we help bring storage to your fleet. Learn more at on.energy.
For transcripts and more on the stories we discuss in the show, subscribe to Latitude Media's newsletter.
Credits: Co-hosted by Stephen Lacey, Jigar Shah, and Katherine Hamilton. Produced and edited by Stephen Lacey. Original music and engineering by Sean Marquand.
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1:05:05
The data center boom: ‘All the cheap power is gone’
The tech industry is pouring $1.3 trillion into data centers globally over the next five years. While efficiency breakthroughs like the launch of DeepSeek's R1 reasoning model might reduce computing needs, the sheer scale of AI deployment means we're still facing historic demand growth. Data center electricity consumption doubled under Biden — and it's projected to triple by 2030.
In this episode, we examine how utilities, tech companies, and policymakers are grappling with the wave of data center development. We explore why the "mega-campus" model is giving way to smaller building blocks, how grid constraints are reshaping data center deployment, and why all new generation — whether it's solar, nuclear, gas, or geothermal — converges at $100 per megawatt-hour.
Then, we sit down with Peter Freed, Meta's former director of energy strategy, who explains how tech companies evolved from building single data centers to managing massive power portfolios. He shares insights about the critical window between 2027-2032 when data center load will hit the grid alongside broader electrification, and why that's driving new interest in nuclear, geothermal, and grid-enhancing technologies.
Along the way, we tackle some big questions: How are utilities handling the flood of speculative interconnection requests? What does Trump's $500 billion Stargate project mean for grid infrastructure? And most importantly: who's going to pay for all of this?
For transcripts and more on the stories we discuss in the show, subscribe to Latitude Media's newsletter. Plus, get your tickets to Transition-AI: Boston on June 12.
Credits: Co-hosted by Stephen Lacey, Jigar Shah, and Katherine Hamilton. Produced and edited by Stephen Lacey. Original music and engineering by Sean Marquand.
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1:02:09
Trump's energy paradox
The Trump administration wants energy abundance. But it just declared war on the fastest and cheapest ways to achieve it.
That's the central paradox emerging from the administration's first weeks in office, where a flood of executive orders, permit freezes, and funding delays are creating precisely the kind of uncertainty that could thwart its own energy goals.
In our first episode of Open Circuit, we sort through it all. We examine which threats are real, which ones are noise, and how to think strategically about this moment.
For more on the stories we discuss in the show, subscribe to Latitude Media's newsletter.
Credits: Co-hosted and produced by Stephen Lacey. Original music and engineering by Sean Marquand.
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53:10
The energy transition, decoded
The greatest industrial transformation in history is well underway — but it's going to be messy, contentious, and certainly not linear.
In the midst of a volatile political and economic era, Jigar Shah, Katherine Hamilton, and Stephen Lacey are reuniting to launch Open Circuit, a show that decodes the technology, business, and policy trends shaping clean energy and climate technologies.
You might recognize these voices — they were the original co-hosts of The Energy Gang.
Open Circuit brings together these three industry veterans to explain what's really accelerating the energy transition, from technological leaps and supply chain shifts, to market upheavals and policy setbacks.
Through sharp analysis and firsthand experience, they’ll break down how major projects come together, how deals and policies get structured, and what it takes to build critical infrastructure at scale.
Episodes drop on Fridays, starting February 14. Subscribe to Open Circuit wherever you get podcasts, or listen at Latitude Media.
The energy transition, decoded. Every week, three industry veterans explore the tech breakthroughs, market shakeups, and policy shifts that are driving the biggest industrial transformation in history.
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