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Newsletter 4/19/24: $1 trillion in U.S. debt payments, Texas solar surpassing coal generation

CLEAN ENERGY • FINANCIAL PLANNING

In this week’s newsletter check out an interesting graphic visualizing the rise in U.S. debt interest payments over the last 70 years. In our news section learn about a groundbreaking technique to mass-produce a critical battery component, how to help clients implement their financial plan, Texas’s solar output surpassing coal generation and more.

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U.S. Debt Interest Payments Reach $1 Trillion

“The cost of paying for America’s national debt crossed the $1 trillion dollar mark in 2023, driven by high interest rates and a record $34 trillion mountain of debt.
 
Over the last decade, U.S. debt interest payments have more than doubled amid vast government spending during the pandemic crisis. As debt payments continue to soar, the Congressional Budget Office (CBO) reported that debt servicing costs surpassed defense spending for the first time ever this year.
 
This graphic shows the sharp rise in U.S. debt payments, based on data from the Federal Reserve.”

source visualcapitalist.com

The News Wrap-up

Helping clients go beyond the plan to actually implement

“In this episode, we talk in-depth about how Ashley helps advisory firms figure out why their clients are getting stuck in their financial journey and, through an offering of advisor training and even supporting directly in client meetings, guides clients through the necessary changes in behavior to achieve their desired outcomes, how Ashley assists advisors with the “Self-Work” of better knowing and understanding their own behaviors, biases, and potential blind spots that could otherwise result in certain types of clients being more challenging to work with, and how Ashley developed an Office Hours format for advisors to talk through particularly challenging client situations and receive structured feedback on how they might improve their approach with their most difficult clients.”

A groundbreaking technique to mass-produce crucial component of EV batteries

“Scientists at the Ulsan National Institute of Science and Technology in South Korea have developed a new technique for mass-producing a crucial component of electric vehicle batteries. Polymer solid electrolytes are a part of the EV battery that conduct ions through polymer chains. While the traditional method of mass-producing them involved melt casting, the new method developed by the researchers at UNIST consists of horizontal centrifugal casting — the same process used to create iron pipes. “By adapting the iron pipe manufacturing process, we have developed a method capable of mass-producing uniform and high-performance solid electrolytes,” said Professor Seok Ju Kang, who led the research.”

Texas got more electricity from solar than coal last month

“The Texas clean energy juggernaut hit a new milestone as the state’s solar production outpaced coal-fired generation over an entire month for the first time. For years, coal and fossil gas ruled the competitive ERCOT market, which supplies power to almost all of Texas. A decade ago, in 2014, gas produced about 41% of Texas generation, followed by coal at 36%, with nuclear and wind roughly splitting the remainder, per ERCOT data. Gas still delivers the lion’s share of electricity, but wind and solar have surged over the last ten years, and coal has plummeted. Last year, it only managed to supply 14% of ERCOT generation, according to data from the grid operator. Now the numbers are in from March, and coal’s share slipped below 10%, while solar surged above 10%, as noted last week by the Institute for Energy Economics and Financial Analysis.”

How to Transform Your Client’s Relationship to Money

“If you want to help your clients achieve their most fulfilling financial outcomes, you need to help them transform their relationships with money. Align your planning process to your clients’ core values and folks won’t just earn more, they’ll do more with their money to make a positive impact in the world. Lynne Twist, a recognized global visionary committed to alleviating poverty, ending world hunger, and supporting social justice and environmental sustainability.”

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