U.S. gasoline prices hit a nationwide record of $5 a gallon this week, with the West Coast seeing prices as high as $10 a gallon. As we continue into the summer months, analysts believe prices will only continue to rise.
On Wednesday, President Joe Biden and his administration called on U.S. oil refiners to produce more gasoline and lower prices. However, many within the industry criticized the move, and reminded the Administration that their actions have contributed to reduced refiner’s capacity and led to higher prices across the board.
Meanwhile, solar stock has taken a sharp upward trend due to the Biden administration declaring a 24-month tariff exemption for all solar panel products. The exemption includes several Southeast Asia nations and the use of the Defense Production Act to promote domestic production. Last November, solar stocks plummeted due to market tension, tariffs, and numerous other lingering nationwide events. However, the solar stocks have rallied in the recent weeks, with many predicting continued increases. Did you know there are four principal ways solar energy is deployed in the country? Universal or utility-scale solar, community solar, private residential solar, and private third-party leased.
Want more of this week’s biggest news in energy? Check our top five favorite stories below.
5Department of Defense deploys first floating solar array
The world of “floatovoltaics” continued to evolve over the past weekend when the U.S. army deployed its first floating solar array. The Verge reports that the floating solar power plants will help boost clean energy, reduce greenhouse gas emissions, and give nearby military training facilities a source of backup energy during power outages.
4Researchers set world record in hydrogen combustion in micro gas turbines
From gas to hydrogen, researchers at the University of Stavanger in Norway claim to have found a method to operate gas turbines strictly with pure hydrogen. PV Magazine reports that the German Aerospace Center has partnered with the university on the project. Together, they plan to investigate more into the idea of all gas turbines being powered by green fuel.
3Solar covered skyscraper will produce its own energy
An eight-story high-rise in Melbourne, Australia, is set to be covered in over a thousand solar panels in hopes of developing a self-sufficient energy skyscraper. Good News Network reports that employees and companies based inside this skyscraper will be able to harness electricity on-site and use it immediately.
2What does the future look like for wind turbines?
Steel has been used for nearly all wind turbines for years, although engineers are beginning to experiment with building turbines out of wood. . UPM Timber reports that switching from steel to wood turbines will be cheaper, lighter, and more accessible; while also providing environmental benefits and promoting local economic growth for businesses.
1Experimental airship to keep watch for methane
The New Mexico desert took off soaring on Tuesday when a technology company launched one of its airships from the desert that will potentially be able to monitor methane in more remote areas. Politico reports that Sceye Inc. intends to build a high-altitude platform station that will provide officials with an alternative option to satellites and airplanes for boosting internet connectivity and collecting data from pollution to wildfire threats.