Open Circuit

Latitude Media
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The energy transition, decoded. Every week, three industry veterans explore the business models, tech breakthroughs, and market shakeups that are driving the biggest industrial transformation in history. The show offers a rare insider's view of the clean energy market.

  1. 9 HR AGO

    State of the transition: The biggest fights in energy

    Everyone has a strong opinion on energy right now. If you’ve followed energy for a while, none of this is new. There have always been strong opinions — renewables versus fossil fuels, subsidies versus markets, activists versus infrastructure. But the intensity feels different right now. People are arguing about everything: the speed of the transition, how to fix broken electricity markets, whether renewables raise or lower power prices, whether AI data centers are about to break the grid. So who’s actually right? This week, JP Morgan’s Michael Cembalest joins the show to weigh in on some of the top fights in energy. Michael is the chairman of market and investment strategy at JP Morgan Asset and Wealth Management. He writes the “Eye on the Market” newsletter, and every year he publishes a deep dive on energy market trends. This year’s report is called “Fighting Words.” We talk with Michael about the fallout from the war with Iran and why the global economy may absorb it differently than past crises. We also dig into gas markets, electricity prices, data centers, CCS, green hydrogen, and sustainable aviation fuels — and what they all reveal about the reality of today’s energy system. Credits: Co-hosted by Stephen Lacey, Jigar Shah, and Caroline Golin. Produced and edited by Anne Bailey, Sean Marquand, and Stephen Lacey. Want to watch this episode? Subscribe to our YouTube channel. Ready to accelerate your career in clean energy? Yale’s Financing and Deploying Clean Energy Certificate is a fully online, 10-month program built for working professionals. It delivers real-world skills in clean energy policy, technology, project finance, and innovation — all in just five hours a week. Enroll here and use the discount code OpenCircuit26 on your application to save $500 on tuition. Applications close April 20, 2026. Explore the new era of AI innovation in the fifth season of Where the Internet Lives, an award-winning podcast from Google and Latitude Studios. Follow and listen to Where the Internet Lives on Apple, Spotify, Google, or wherever you get your podcasts.Join Latitude Media on April 13-14, in San Francisco for Transition-AI 2026, a two-day, in-person conference on the digital and energy infrastructure buildout needed to support AI load growth. Our podcast listeners get a 10% discount on this year’s conference using the code PODS10. ⁠Register today here⁠!

    1h 20m

  2. 13 MAR

    Iran, energy shocks, and the case for distributed power

    President Trump’s war with Iran has rattled global energy markets. Oil prices have surged, LNG markets are tightening, and shipping through the Strait of Hormuz — a chokepoint that carries roughly 20% of the world’s oil supply — has been severely disrupted. Tankers are stalled, shipping costs are soaring, and energy markets are bracing for one of the largest oil supply disruptions in history. The result: higher fuel prices, rising electricity costs, and a reminder of how vulnerable modern economies still are to fossil-fuel geopolitics. This week, we look at the wide-ranging impacts of the shock, from global oil and LNG markets to electricity prices and grid security. We’ll also ask the question: will this accelerate the shift toward clean, distributed energy or just push countries toward more coal? Or both? That leads us to a big idea that is getting a lot of attention: the “bring your own distributed capacity” model where large electricity customers help unlock grid headroom through demand response, efficiency, batteries, and other distributed resources. Guest co-host Julia Hamm joins us to talk about how the concept works, why it’s gaining traction among utilities and hyperscalers, and the pathway for distributed capacity to become a real solution to the grid’s growing constraints. Want to watch this episode? Subscribe to our YouTube channel.  Ready to accelerate your career in clean energy? Yale’s Financing and Deploying Clean Energy Certificate is a fully online, 10-month program built for working professionals. It delivers real-world skills in clean energy policy, technology, project finance, and innovation — all in just five hours a week. Enroll here and use the discount code OpenCircuit26 on your application to save $500 on tuition. Applications close April 20, 2026. Explore the new era of AI innovation in the fifth season of Where the Internet Lives, an award-winning podcast from Google and Latitude Studios. Follow and listen to Where the Internet Lives on Apple, Spotify, Google, or wherever you get your podcasts. Join Latitude Media on April 13-14, in San Francisco for Transition-AI 2026, a two-day, in-person conference on the digital and energy infrastructure buildout needed to support AI load growth. Our podcast listeners get a 10% discount on this year’s conference using the code PODS10. ⁠Register today here⁠!

    1h 2m

  3. 6 MAR

    The problem with Trump's AI power pledge

    The politics of AI and electricity came to the White House this week. On Wednesday, the biggest tech companies in the world — Amazon, Google, Meta, Microsoft, OpenAI, and Oracle — gathered in Washington to sign what the administration is calling a “ratepayer protection pledge.” The promise: data centers will pay for their own power and grid integration costs. But is anything actually changing? Or is it just political theater? This week, we’ll look at the politics and intention of the announcement, along with some real-world models emerging for powering the AI economy. In Minnesota, Google is pulling together a package of renewables, long-duration storage, and distributed batteries for a planned data center.  In Mississippi, xAI continues to build unpermitted gas engines and explicitly flouting air quality regulations. And the Energy Department is also backing a grid modernization project that includes gas, nuclear, batteries, hydropower, and transmission upgrades.  Three models. Three very different bets on what the future of AI power looks like. Which one wins out? And more importantly, who pays? Want to watch this episode? Subscribe to our YouTube channel.  Ready to accelerate your career in clean energy? Yale’s Financing and Deploying Clean Energy Certificate is a fully online, 10-month program built for working professionals. It delivers real-world skills in clean energy policy, technology, project finance, and innovation — all in just five hours a week. Enroll here and use the discount code OpenCircuit26 on your application to save $500 on tuition. Applications close April 20, 2026. Explore the new era of AI innovation in the fifth season of Where the Internet Lives, an award-winning podcast from Google and Latitude Studios. Follow and listen to Where the Internet Lives on Apple, Spotify, Google, or wherever you get your podcasts. Join Latitude Media on April 13-14, in San Francisco for Transition-AI 2026, a two-day, in-person conference on the digital and energy infrastructure buildout needed to support AI load growth. Our podcast listeners get a 10% discount on this year’s conference using the code PODS10. ⁠Register today here⁠!

    59 min

  4. 27 FEB

    Clean energy didn’t collapse in 2025. It adapted.

    When President Trump kicked off an aggressive trade war, a lot of people predicted economic doom. But it didn’t happen. We’re seeing something similar in clean energy right now with ever-shifting tariffs, half-written rules on foreign sourcing, and the weaponization of permitting. But capital hasn’t fled. In fact, it increased last year. So what is happening here? According to new market intelligence from the clean energy finance platform Crux, project finance, construction lending, and bridge lending all grew at a modest rate – with renewable electricity and batteries accounting for 80% of activity. This week, we’re going to take a look at where capital is leaning in, where it’s pulling back, and how new changes to tariffs and foreign sourcing rules will influence the market.  And then we’ll turn to solar and batteries, which are weathering the storm of uncertainty, but still facing plenty of turbulence. What’s driving that resilience? Want to watch this episode? Subscribe to our YouTube channel.  Ready to accelerate your career in clean energy? Yale’s Financing and Deploying Clean Energy Certificate is a fully online, 10-month program built for working professionals. It delivers real-world skills in clean energy policy, technology, project finance, and innovation — all in just five hours a week. Enroll here and use the discount code OpenCircuit26 on your application to save $500 on tuition. Applications close April 20, 2026. Explore the new era of AI innovation in the fifth season of Where the Internet Lives, an award-winning podcast from Google and Latitude Studios. Follow and listen to Where the Internet Lives on Apple, Spotify, Google, or wherever you get your podcasts. Join Latitude Media on April 13-14, in San Francisco for Transition-AI 2026, a two-day, in-person conference on the digital and energy infrastructure buildout needed to support AI load growth. Our podcast listeners get a 10% discount on this year’s conference using the code PODS10. ⁠Register today here⁠!

    1h 6m

  5. 20 FEB

    The Green Blueprint: Sage Geosystems' bet on underground energy storage

    This week, we’re featuring an episode of The Green Blueprint.  In this episode, Lara Pierpoint talks with Cindy Taff, CEO of Sage Geosystems. Cindy and her team at Sage Geosystems are developing geothermal technology that could revolutionize energy storage. Instead of pumping water up a mountain, they pump it deep into the earth, providing cost-effective, long-term storage for intermittent renewable sources.  They’re piloting this technology at a new commercial facility in partnership with  San Miguel Electric Cooperative, a rural Texas electric cooperative that is transitioning from coal to solar and battery storage thanks to a USDA grant.  Lara and Cindy talk about Sage’s groundbreaking new technology, its first commercial facility, and upcoming partnerships with geothermal giant Ormat Technologies.  If you are looking for more Open Circuit episodes to consume, subscribe to Latitude’s YouTube page.  Explore the new era of AI innovation in the fifth season of Where the Internet Lives, an award-winning podcast from Google and Latitude Studios. Follow and listen to Where the Internet Lives on ⁠Apple⁠, ⁠Spotify⁠, ⁠Google⁠, or wherever you get your podcasts. Ready to accelerate your career in clean energy? Yale’s Financing and Deploying Clean Energy Certificate is a fully online, 10-month program built for working professionals. It delivers real-world skills in clean energy policy, technology, project finance, and innovation — all in just five hours a week. Enroll here and use the discount code OpenCircuit26 on your application to save $500 on tuition. Applications close April 20, 2026. Join Latitude Media on April 13-14, in San Francisco for Transition-AI 2026, a two-day, in-person conference on the digital and energy infrastructure buildout needed to support AI load growth. Our podcast listeners get a 10% discount on this year’s conference using the code PODS10. ⁠Register today here⁠!

    42 min

  6. 13 FEB

    Are investors losing faith in Big Tech's infrastructure frenzy?

    This year alone, the biggest tech companies plan to spend more than $600 billion on physical infrastructure — eclipsing the railroad boom, the interstate highway system, and the Apollo space program. But are investors starting to flinch? This week, we examine the negative market reaction to tech earnings. Is Wall Street reacting to the infrastructure bottlenecks that stand in the way of building at that scale? Or are they worried about the tech industry’s approach to solving them? Then we turn to one of the boldest responses to those bottlenecks: space-based data centers. After SpaceX’s acquisition of xAI, Elon Musk says orbital computing powered by solar could be imminent. We unpack the arguments for and against space-based data centers. Then we look at solar. Musk says Tesla plans to build 100 gigawatts of domestic solar manufacturing capacity. Tesla has launched a new panel and mounting system that it claims will reduce installation time by 30%. At the same time, a new poll from Trump’s chief pollster shows majority support for solar among GOP voters — especially when panels are made in America. Is there a vibe shift underway? Ready to accelerate your career in clean energy? Yale’s Financing and Deploying Clean Energy Certificate is a fully online, 10-month program built for working professionals. It delivers real-world skills in clean energy policy, technology, project finance, and innovation — all in just five hours a week. Enroll here and use the discount code OpenCircuit26 on your application to save $500 on tuition. Applications close April 20, 2026. Explore the new era of AI innovation in the fifth season of Where the Internet Lives, an award-winning podcast from Google and Latitude Studios. Follow and listen to Where the Internet Lives on Apple, Spotify, Google, or wherever you get your podcasts. Join Latitude Media on April 13-14, in San Francisco for Transition-AI 2026, a two-day, in-person conference on the digital and energy infrastructure buildout needed to support AI load growth. Our podcast listeners get a 10% discount on this year’s conference using the code PODS10. ⁠Register today here⁠!

    1h 6m

  7. 6 FEB

    Is this geothermal’s breakout moment?

    2026 could be the year of the mega-IPO, with OpenAI, SpaceX, and Anthropic all rumored to be eyeing public markets. But for energy nerds and hot-rock lovers, there’s another IPO to watch: Fervo Energy. With Fervo preparing for a long-anticipated IPO, the geothermal sector is heading into a moment of price discovery. It’s a test of whether next-generation geothermal has finally crossed a new commercialization threshold and becoming bankable, repeatable infrastructure. Over the past few years, over a billion dollars has flowed into geothermal startups, including Sage Geosystems, Zanskar, Quaise Energy, Eavor, XGS Energy, and Dandelion Energy. These companies are taking very different approaches — from enhanced geothermal systems and pressure-based designs to AI-driven exploration and ultra-deep drilling — but they’re all chasing the same prize: firm, clean power at scale. Meanwhile, geothermal developers are signing contracts and partnerships with large tech companies looking to power future data centers. And the industry’s ties to oil and gas drilling have given it political durability under the Trump administration. With this rare moment of alignment, can geothermal unlock a much larger pool of infrastructure capital? Later in the show, we ask a different but related infrastructure question: what happens to the fossil fuel system as demand declines? We discuss new research looking at how unmanaged decline could lead to price shocks, reliability risks, and political backlash if replacement infrastructure isn’t ready in time. Join Latitude Media on April 13-14, in San Francisco for Transition-AI 2026, a two-day, in-person conference on the digital and energy infrastructure buildout needed to support AI load growth. Our podcast listeners get a 10% discount on this year’s conference using the code PODS10. ⁠Register today here⁠! Explore the new era of AI innovation in the fifth season of Where the Internet Lives, an award-winning podcast from Google and Latitude Studios. Follow and listen to Where the Internet Lives on Apple, Spotify, Google, or wherever you get your podcasts.

    1h 11m

  8. 29 JAN

    The politics of making electricity cheaper, from PJM reform to VPPs

    Electricity affordability has become the defining energy issue of 2026. As policymakers scramble for solutions, two very different playbooks are taking shape. On one side, a blunt-force federal approach led by the Trump Administration that treats affordability like an emergency. Keep coal plants open. Force markets to change. Make large power users pay directly for new power plants through market interventions. On the other, a quieter, asset-light strategy is emerging at the state level. In places like Illinois, Virginia, and New Jersey, governors and legislatures are increasingly looking to virtual power plants to meet growing peaks and avoid overbuilding the grid. This week on Open Circuit, we break down these two paths. What actually lowers costs, and on what timelines? We start with the federal push to reshape PJM capacity markets and make big energy users pay for new supply. How would that actually work? Is it real market reform, or political signaling? Then we turn to the state level, where VPPs and distributed resources are increasingly central to affordability plans. We compare how Illinois, Virginia, and New Jersey are approaching the problem. Join Latitude Media, April 13-14, in San Francisco for Transition-AI 2026, our flagship event on the AI-energy infrastructure buildout. The two-day conference will bring together developers, utilities, regulators, and hyperscalers to align on what’s real, what’s possible, and what can get built to meet AI infrastructure demand. Our podcast listeners get a 10% discount on this year’s conference using the code PODS10. ⁠Register today here⁠!

    1h 17m
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About

The energy transition, decoded. Every week, three industry veterans explore the business models, tech breakthroughs, and market shakeups that are driving the biggest industrial transformation in history. The show offers a rare insider's view of the clean energy market.

Information

  • Creator
    Latitude Media
  • Years Active
    2025 - 2026
  • Episodes
    54
  • Copyright
    © Latitude Media
  • Show Website
    Open Circuit

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