Eight Minutes Paul Schuster

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There's a lot going on in the offshore wind market in the US these days. Multiple projects have had to renegotiate or even outright cancel their power purchase agreements.

In today's episode, Paul takes a closer look at the reasons behind this turmoil and the impact on the nascent offshore wind market.

For further reference:

"Offshore wind in the U.S. hit headwinds in 2023. Here's what you need to know" - NPR

"A wind project promised Mass. cheap power. Then came inflation" - WBUR

"Two major New York offshore wind projects are back on track" - Canary Media

"US offshore wind projects facing inflation headwinds" - Reuters

"Lawmakers pass controversial bill to give tax break to offshore wind developer" - New Jersey Monitor


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The amount of renewable generation that is forecasted to come online over the next few years is staggering. But renewable assets face risks - risks associated with the changing climate in the first place. As weather patterns change, affecting cloud cover, snow melt, or wind speed - renewable assets are especially vulnerable to these changes.

In this episode, Paul unpacks how the changing climate may affect our increasing reliance upon renewable generation for our power supply.

For further reference:

"Will climate change suck the air out of Illinois' wind power industry?" - The Chicago Sun Times

"Global ‘Stilling’: Is Climate Change Slowing Down the Wind?" - Yale Environment 360

"Hydropower: How droughts are affecting the world's biggest renewable energy source" - World Economic Forum

"Wildfire smoke slashed solar power generation" - Verge

Renewables 2023 Executive Summary - IEA

"Global Review Assesses Hydropower’s Vulnerability to Climate Change" - Columbia Climate School

"Climate change extremes and photovoltaic power output" - Nature Sustainability
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There are over 20 Green Banks spread across the US, designed to deploy clean energy technologies and ensure equitable access to the clean energy economy. These quasi-public institutions play an important role in bridging a risk gap between what is "theoretically financeable" and what is "actually financeable".

In this episode, Paul discusses how Green Banks function, the role that they play in handling risks that private institutions can not, and how the IRA and IIJA unlocked billions of dollars of federal funds in the first ever national green bank.

For further reference:

"Biden-Harris Administration Announces $20 Billion in Grants to Mobilize Private Capital and Deliver Clean Energy and Climate Solutions to Communities Across America"

Green Banks - NREL

"State Energy Financing Institutions: Unlocking Billions in Concessional Financing from the Loan Programs Office" - Center for Public Enterprise

Connecticut Green Bank

DC Green Bank
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If there is a gold standard for setting corporate climate goals, it's a science based target. These commitments are a rigorous, methodical approach toward ensuring that we stay below the 2 degree warming threshold.

In today's episode, Paul explains the methodology used to determine science based targets and their net zero counterpart. And Paul touches upon the recent controversy that arose around when and how it is appropriate to use offsets against these targets.

For further reference:

Science Based Targets Initiative

Why is the SBTi advocating the Carbon Offsets Market?

Science Based Targets vs. Net Zero: what’s the difference? Why do they matter?

SBTi: Yes, companies can use carbon offsets to abate certain Scope 3 emissions
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Philanthropic giving to climate related causes is woefully small. But charitable dollars have a really important role to play because of their flexibility and different motivations. They can catalyze investment in areas where private or governmental dollars can not.

In this episode, Paul sits with Randall Kempner, Senior Advisor to the Aspen Institute to discuss the role of philanthropic dollars in the capital stack, why foundations and donors have not contributed as much, yet, and what is needed to further catalyze this funding source.

For the extended version of the interview with Randall, please visit More Than Eight Minutes

And for further research:

Randall Kempner

The Aspen Institute's Energy & Environment Program

The Global Methane Hub

Much Alarm, Less Action: Foundations & Climate Change - The Center for Effective Philanthropy

Global Energy Alliance for People & Planet

Giving to Amplify Earth Action - World Economic Forum
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Paul sits with Mike Roeth of the North American Council for Freight Efficiency (NACFE) to discuss the current state of trucking and how that industry is decarbonizing. Although trucks only account for 5-10% of the vehicles on the road, they contribute up to a quarter of the transportation sector's greenhouse gas emissions.

But whereas challenges remain to fully decarbonize long haul, heavy duty trucking, Mike and Paul dig into the different use cases and opportunities that the industry has to electrify existing vehicles today.

If you want to hear the entirety of Paul's interview with Mike, visit More Than Eight Minutes.

For further reference:

Mike Roeth

North American Council for Freight Efficiency

Calstart - Medium and Heavy Duty EV Deployment: Data Collection


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