A combined $92 billion in energy and artificial intelligence (AI)-related investments were announced across Pennsylvania last week, with projects ranging from new data centers to natural gas plants and grid modernization efforts. The initiatives could mark a transformative step for both the state, which is emerging as a national tech powerhouse, and the U.S. as leader in the next era of digital infrastructure. We find the PJM interconnection region holds above-average potential for new data centers with the greatest projected future capacity in PJM DOM (Figure 1). The region’s robust fiber infrastructure and proximity to major population centers make it ideal for AI inference facilities. PJM has seen a surge in energy and AI investment over the past year, with facilities like TLN’s Susquehanna plant playing a pivotal role, showing how PJM energy infrastructure can meet the scaling demands of data centers.
The announcements come as Pennsylvania lawmakers passed two cryptocurrency-related bills — the Genius Act and the Clarity Act — in the House. The legislation could provide legal clarity to promote the scaling of data-based applications that require distributed computing and storage, increasing energy use across cloud and edge networks. The Senate introduced Bill 939, aimed at streamlining regulatory processes for high-impact data centers with a critical information technology load of 50 MW or more.
A $25 billion joint venture between Blackstone and PPL Corporation and a $15 billion investment from FirstEnergy mark major steps toward boosting capacity and grid resilience in PJM. The projects represent needed investments in energy infrastructure previously lacking in parts of PJM and will be required as data centers are expected to make up a significant share of demand in PJM by 2035.
Enverus Intelligence® | Research, Inc. (EIR) is a subsidiary of Enverus that publishes energy-sector research focused on the oil, natural gas, power and renewable industries. EIR publishes reports including asset and company valuations, resource assessments, technical evaluations and macro-economic forecasts, and helps make intelligent connections for energy industry participants, service companies and capital providers worldwide. See additional disclosures here.
As demand for AI, cloud computing and digital infrastructure continues to surge, hyperscale data centers have quickly become some of the largest and fastest-growing energy consumers in North America. For developers, grid operators and investors, knowing where the biggest loads are concentrated can unlock insights into market growth, congestion points and where new generation is most urgently needed or where to plan your next load center.
Need answers fast? Enverus Instant Analyst™ lets you ask complex questions in plain language and get structured, analytical responses in seconds, whether you’re identifying the largest current loads or spotting new siting opportunities by generation mix and transmission access.
Hyperscale Data Center Developers Need Answers Faster — Power, Price, Place
When it comes to siting data centers, speed and precision matter. Developers need to evaluate three key factors—power, price and place—all at once:
Power — Where the biggest loads are driving grid demand
Price — Understand nodal pricing, congestion risks and cost-to-serve in real time
Place — Narrow down 156 million parcels in seconds based on buildability, land use and market viability
Enverus PRISM™ is your gateway to finding the perfect spot that balances power, price and place. With analytics-ready grid data covering 13,000+ planned and operational transmission lines, 43,500 substations and more than 70,000 power assets (both renewable and traditional), PRISM delivers unmatched visibility into the infrastructure shaping these load centers.
For those entering or scaling in the hyperscale data center space, Enverus offers a complete project siting and design workflow. Our tools help you find suitable land 75% faster, identify risks earlier and avoid costly mistakes. With automated parcel analysis, real-time policy tracking and infrastructure insights, you can move from idea to execution with confidence. Download our data center siting e-book to learn more.
Below, we used Instant Analyst to quickly surface the top 10 largest operational data centers by load across North America.
The 10 Largest Hyperscale and Mega Data Centers by Load in North America
10. Ashburn Campus, Virginia — Vantage Data Centers — 590 MW
Northern Virginia remains the heart of global data infrastructure. Vantage’s Ashburn Campus anchors a key corridor in PJM, supported by dense grid and fiber connections.
9. SAT14, Texas — Microsoft Azure — 665 MW
In ERCOT, Microsoft’s SAT14 taps into low-cost renewables and fast interconnection timelines, making Texas a rising hotspot for hyperscale deployments.
8. Des Moines, Iowa — Microsoft Azure — 775 MW
Des Moines shows the power of Midwest siting, balancing grid stability with favorable land access and easy to pinpoint in Enverus’ siting workflows.
7. Meta Mesa Data Center, Arizona — Meta — 917 MW
A southwestern anchor, Mesa offers high scalability potential and quick access to solar resources, factors developers can rapidly filter for in Enverus Parcels.
6. IAD11, Virginia — Microsoft Azure — 950 MW
In the crowded Northern Virginia market, Enverus helps make it easier to monitor operational load changes and future expansions like IAD11.
5. Prineville, Oregon — Meta — 952 MW
Meta’s Oregon footprint capitalizes on hydroelectric power and natural cooling, Enverus workflows help you filter for similar low-carbon, low-cost zones.
4. Altoona, Iowa — Meta — 1,035 MW
Altoona reflects the importance of central geography and land scalability, speeding up early-stage site targeting for data center developers.
3. Colocation America NYDC2, New York — Colocation America — 1,064 MW
Urban mega-loads like NYDC2 remain high-value targets; Enverus quickly helps evaluate surrounding congestion, price volatility and future expansions.
2. Quincy MWh, Washington — Microsoft Azure — 1,520 MW
Tapping hydropower, Quincy keeps operational costs low; Enverus reveals not just load, but the generation mix and pricing shaping long-term project viability.
1. Douglasville, Georgia — Microsoft Azure — 1,862 MW
Douglasville headlines the Southeast’s growing data center surge, and Enverus pinpoints where transmission, land and pricing dynamics align to fuel the next big buildout.
With the pace of AI buildouts and digital infrastructure racing ahead, developers can’t afford to spend days stitching together market insights. PRISM puts the most important siting, load growth and pricing data at your fingertips in seconds, freeing your team to move faster, vet projects sooner and win more deals. Want to make smarter siting decisions for data centers and large load centers? Explore our Data Center Siting E-Book to see how Enverus can help.
About Enverus
Enverus is the largest energy-only focused software company in the world. More than 6,000 businesses use our solutions, including more than 1,000 in electric power markets. Every day, 7,500+ users utilize our solutions to develop and design projects, manage the grid, trade power, and buy and sell assets.
For those navigating the rise of large loads from hyperscale data centers to industrial expansion, Enverus provides unmatched visibility into grid infrastructure, available capacity and siting risk. We’re the only company with a 15-year head start in renewables and grid intelligence, real-time grid optimization down to the node, and industry-leading load forecasting capabilities. Whether you’re planning your next site or analyzing market impact, we deliver the insights needed to move faster and smarter.
Our team is 1,700 employees strong and includes more than 300 people dedicated to power and renewables. These industry veterans and PhDs apply their real-life experience and expertise to ensuring that the data, software, and intelligence solve the unique challenges facing the power industry.
Calgary, Alberta (July 23, 2025) — Enverus Intelligence Research (EIR), a subsidiary of Enverus, the most trusted energy-dedicated SaaS company that leverages generative AI across its solutions, is releasing its summary of 2Q2025 upstream M&A activity and outlook for the rest of the year.
Upstream M&A decelerated in the second quarter of 2025, with value falling 21% quarter-over-quarter to $13.5 billion. That is the second lowest quarterly deal value since the start of 2024 and placed 1H25 M&A value at $30.5 billion, a 60% drop compared to the first half of 2024. Value was heavily driven by just two large transactions – EOG’s purchase of Encino Acquisition Partners in the Utica and Viper Energy Partners rare public mineral merger with Sitio Royalties. Combined, these two transactions accounted for over 75% of second quarter deal value. The lack of breadth in deal markets was reflected in the count of transactions over $100 million with just eight deals topping that benchmark, a tie for the lowest total since 2020.
“Volatility in commodity and equity markets raised a major yellow flag for M&A, slowing the pace of dealmaking,” commented Andrew Dittmar, principal analyst at EIR. “That added an additional barrier to a market that was already challenged by the lack of remaining attractive opportunities for public E&Ps, especially in the Perman Basin. The engine of M&A over the last few years has sputtered and stalled, given there are just a few remaining targets and, outside the rare opportunity like APA’s deal with Permian Resources, it is not a region public companies are likely to pick for non-core asset sales.”
With the Permian and other major unconventional plays increasingly locked down by large public operators, buyers are taking more creative maneuvers to secure undeveloped inventory. EOG supercharged its exposure to the Utica liquids window, adding it as a third pillar of the company’s business along with the Delaware Basin and Eagle Ford. Its acquisition of Encino for $5.6 billion cemented EOG’s frontrunning position in the liquids play. Encino, backed by the Canada Pension Plan Investment Board, held the most remaining liquids-focused remaining inventory among non-family private E&Ps. EOG also added substantial exposure to the gas window of the Utica with the acquisition.
“After having a Permian-centric market for the last few years, the race to add economic locations is pushing buyers into a more geographically diverse set of deals,” said Dittmar. “The challenge for larger public operators is that only a few of the emerging regions, like the Utica and Uinta, offer the scale of resource they need. While companies have so far been reluctant to look outside the U.S., eventually that will likely need to include assets in Canada or other international areas like Argentina’s Vaca Muerta.”
While public companies contend with the lack of remaining attractive private acquisition targets, private equity firms themselves are looking to refuel portfolios following a frenetic pace of exits over the last few years. In contrast to public operators, private capital has more flexibility in the types of deals and assets pursued as well as not needing the same scale as public companies. Some are returning to the Permian Basin, where firms have clocked many of their biggest wins, picking up small assets or focusing on extensional areas not yet consolidated by large operators. However, the biggest opportunities are likely to be in areas off the radar of public companies. The SCOOP | STACK in Oklahoma is one such region where public companies are more likely to be sellers than buyers and a key candidate for non-core asset sales by the large buyers of the last few years like ConocoPhillips. Private firms may also look at secondary plays including other parts of the Permian like the Central Basin Platform or the older Rockies regions like the Piceance and San Juan basins.
“Recharging portfolio companies is going to be more challenging for private firms as well, particularly those that want to pursue a resource delineation strategy that often generates the highest returns,” said Dittmar. “The basic challenge for many buyers in the U.S. whether public or private is that there is too much existing production and not enough remaining inventory. That changes acquisition strategies and expected returns on deals.”
For a few types of buyers though, the opportunity set in the market is expanding rather than shrinking. Those would be groups and companies that primarily target production-heavy assets like upstream master limited partnerships (MLPs). Mach Natural Resources and TXO Partners, both upstream MLPs, have been active consolidators of mature assets. TXO teamed up with North Hudson to acquire Williston assets from White Rock Energy for $475 million during the second quarter while Mach announced $1.3 billion worth of deals early in 3Q, adding assets in the San Juan Basin and Central Basin Platform. The TXO deal was particularly interesting because the company plans to focus on redevelopment or “refrac” opportunities on the legacy wells. “Redevelopment to extend the life of existing production is one of the more important emerging stories in the industry,” said Dittmar. “You are going to see that considered more frequently when evaluating acquisition opportunities.”
Another buyer group that may not mind production-heavy assets are international firms looking to gain exposure to U.S. hydrocarbons. Asia-based companies with LNG import commitments are an emerging force for buying Gulf Coast area gas assets. These firms may not mind a large base of existing production that lessens development risk. The combination of accelerating international interest in gas linked to Gulf Coast LNG plus emerging datacenter demand in Appalachia has the potential to rev up gas M&A. “While gas E&Ps don’t have the same urgency to add inventory as their oil-focused counterparts, companies are still willing to undertake financially accretive deals with clear operational synergies,” said Dittmar. “EQT is one example, buying Olympus Energy for $1.8 billion in a deal that boosted shareholder return metrics and allowed it to tie more of its southwestern Pennsylvania asset base into an emerging datacenter and industrial corridor outside Pittsburgh.”
One type of deal that has been notably absent this year is public company consolidation, a key component of the market in 2023 and 2024. The one exception is Viper’s merger with Sitio, which was also just the second major public company merger Enverus has tracked in the relatively niche mineral and royalty market. Viper, which has emerged as the most active consolidator of Permian royalties, was able to leverage its premium valuation to strike a financially accretive deal for Sitio. “The case for continued corporate consolidation is sound,” said Dittmar. “These types of deals should be easier to negotiate in a volatile environment given they are generally stock-for-stock swaps that limit commodity price risk, and the valuations on some public names are compelling for a buyer. The most obvious and willing sellers just got taken out earlier in the consolidation cycle, and it’s going to take some time for more companies to come to the table.”
You must be an Enverus Intelligence® subscriber to access this report.
About Enverus Intelligence Research Enverus Intelligence ® | Research, Inc. (EIR) is a subsidiary of Enverus that publishes energy-sector research focused on the oil, natural gas, power and renewable industries. EIR publishes reports including asset and company valuations, resource assessments, technical evaluations and macro-economic forecasts; and helps make intelligent connections for energy industry participants, service companies and capital providers worldwide. EIR is registered with the U.S. Securities and Exchange Commission as a foreign investment adviser. Enverus is the most trusted, energy-dedicated SaaS company, with a platform built to create value from generative AI, offering real-time access to analytics, insights and benchmark cost and revenue data sourced from our partnerships to 95% of U.S. energy producers, and more than 40,000 suppliers. Learn more at Enverus.com.
The One Big Beautiful Bill Act (OBBBA) has changed the game for renewable energy developers. With fewer subsidies to fall back on, developers are being pushed to rethink where and how they build projects. It’s no longer about chasing tax credits, it’s about finding the projects that can stand on their own two feet.
Here are five of the biggest shifts developers should have on their radar when building their pipeline and project strategy post-OBBBA.
1. Viable Projects Must Stand Without Subsidies Under the One Big Beautiful Bill Act
Not every project will survive in the post-OBBBA world. According to Enverus Intelligence® Research (EIR), just 30% of solar and 57% of onshore wind projects in queues today are resilient enough to move forward without tax incentives. Developers need to look beyond incentives and focus on regions with the strongest economics, think high-capacity factors, competitive costs and favorable offtake options.
Key question: Are you building projects that work even when tax credits dry up?
2. Location Will Make or Break Your Project
The days of “anywhere is good enough” are over. EIR data shows a sharp regional divide between high-value and low-value regions are widening:
Solar projects in California (98%) and Arizona (100%) remain strong.
Wind projects in Montana (100%) and Oklahoma (82%) are still competitive.
Other regions like Texas (6% solar, 61% wind) and Illinois (40% solar, 48% wind) are facing steeper challenges.
Key question: Are you prioritizing regions where your project economics still hold up?
Developers who use Enverus find land 4x quicker, spend 500 fewer days in the interconnection queue and are 9x more likely to reach project success than those who don’t use Enverus.
3. Interconnection Speed Matters More Than Ever in the One Big Beautiful Bill Act Era
Financing is tighter, margins are thinner and speed is the difference between a viable project and a sunk cost.
Key question: Are you setting your projects up to move quickly through the queue?
4. Transmission Capacity Is Now Prime Real Estate
With margins narrowing, transmission access is more valuable than ever. While the reports don’t provide direct numbers on transmission, the combination of declining subsidy availability and strict in-service timelines makes sites with favorable interconnection and transmission access a key competitive advantage. Projects without clear access risk curtailment or financial infeasibility.
Key question: Are you screening sites for long-term deliverability and interconnection success?
5. Data-Driven Siting and Designing Is Your Margin Protector
Under the One Big Beautiful Bill Act, margins are shrinking but that doesn’t mean your returns have to. Developers leveraging detailed siting data, competitive intelligence and design optimization will outcompete those relying on outdated approaches. With less room for error, data is no longer optional — it’s essential to profitability. The OBBBA reports show just how variable project viability is across regions and developers, underlining the importance of precise data in site selection, competitive benchmarking and economic optimization.
And it doesn’t stop at site selection; design optimization plays a huge role in protecting margins. Developers using RatedPower, Enverus automated PV and BESS design tool, can optimize designs faster, identify the most cost-effective configurations and increase project profitability by up to 20%. In today’s margin-tight environment, every percentage point counts.
Key question: Is your team armed with the data—and the design tools—to make smarter, faster decisions?
Final Word: The OBBBA Era Rewards Smarter Development
The renewables market isn’t slowing down, but it is changing. Developers that adapt quickly, with better siting, faster timelines and sharper economic strategies will be the ones who thrive in the next 30 months.
The rest? Risk getting left behind.
About Enverus
Enverus is the largest energy-only focused software company in the world. More than 6,000 businesses use our solutions, including more than 1,000 in electric power markets. Every day, 7,500+ users utilize our solutions to develop and design projects, manage the grid, trade power, and buy and sell assets.
We are one of the key players in power software and analytics and we have differentiators across the business and in each of our platforms. Just to name a few…we’re the only company with a 15-year head start in renewables and grid infrastructure intelligence and real-time grid optimization down to the node, and we’re the best at forecasting load. If you’re active in the power market, chances are we have a solution that can help you.
Our team is 1,700 employees strong and includes more than 300 people dedicated to power and renewables. These industry veterans and PhDs apply their real-life experience and expertise to ensuring that the data, software, and intelligence solve the unique challenges facing the power industry.
In the dynamic landscape of energy markets, accurate load forecasting is essential for informed decision-making. Enverus power forecasting solutions have consistently demonstrated exceptional performance, particularly during extreme weather events and critical peak demand periods. Complementing this reliability, our ongoing commitment to innovation has led to significant enhancements in our forecasting models. This blog highlights the accuracy of our load forecasts in recent high-stakes scenarios and introduces a transformative weather algorithm update that further elevates our power forecasting accuracy.
1.21% MAPE: Exceptional Accuracy During Extreme Weather in NYISO
In June 2025, New York City endured a severe heat wave from June 20 to June 25, with temperatures peaking at 99°F in Central Park and 102°F at Kennedy Airport on June 24. This event drove electricity demand to a nine-year high of 31,857 MW in the NYISO system at 6 p.m. on June 24. Our Enverus one-day-ahead forecast demonstrated remarkable accuracy during this extreme event:
Hourly MAPE at peak demand (6 p.m.): 1.21%
Daily MAPE for June 24: 2.94%
In comparison, the ISO forecast had:
Hourly MAPE at peak demand (6 p.m.): 4.58%
Daily MAPE for June 24: 5.58%
Enverus Mosaic proprietary platform (data displayed in Hour Beginning), evolution of ISO’s load forecast and Enverus load forecast on June 24. The Enverus Mosaic short-term analytics and forecasting solutions has a 25-year track record of forecasting load more accurately than the ISOs.Enverus Mosaic proprietary platform (data displayed in Hour Beginning), evolution of ISO’s load forecast and Enverus load forecast on June 24, zooming in on HB 6 p.m. Enverus Mosaic short-term analytics and forecasting solutions helps clients generate actionable trade opportunities in just a quarter of the time versus non-clients.
By leveraging proprietary algorithms within our Mosaic platform, we provided forecasts that significantly outperformed industry benchmarks. This precision enabled our customers to make swift, data-driven decisions during one of the most intense heat waves in recent years, demonstrating that our solutions are reliable not only for routine operations but also under the most challenging conditions.
Enverus power forecasting solutions also excelled in the ERCOT market during June 2025. On June 19, the Coincident Peak (CP) occurred during Hour Ending 17, and Enverus accurately identified this critical interval one day in advance. This foresight provided customers subscribed to our 4CP alert solution with valuable time to prepare and optimize their operations.
Alert received by Enverus customers who subscribed to the 4CP alert solution. Enverus Mosaic short-term analytics and forecasting solutions are designed to help you explain the past, understand the present and forecast the future.
Our day-ahead load forecast for June 19 achieved a daily MAPE of 1.80% and a MAPE of 1.69% during peak hours (Hour Ending 7 to 22). These metrics highlight the precision and adaptability of our power forecasting tools, which empower customers to stay ahead in dynamic energy markets.
Enhancing Power Forecast Accuracy With a New Weather Algorithm
To further strengthen our power forecasting capabilities, Enverus has introduced a significant enhancement to our weather algorithm. Thorough analyses of cold snaps, heat waves, and shoulder season swings revealed that inaccuracies in temperature forecasts were a primary driver of higher MAPEs. In response, we conducted an extensive review of our temperature forecast data and implemented updates that have yielded substantial improvements across all ISOs.
The backcast analysis for January to April 2025 demonstrates the impact of this new algorithm. Total MAPE accuracy for load forecasts improved by up to 10% in some ISOs, with an average improvement of 4% across the board. Notable enhancements include:
ISO
Total MAPE – Before
Total MAPE – After
Improvement (percentage points)
ERCOT
2.35%
2.31%
0.04
PJM
2.33%
2.10%
0.23
SPP
1.87%
1.75%
0.12
MISO
1.57%
1.48%
0.09
NYISO
2.44%
2.38%
0.06
ISO-NE
3.28%
3.18%
0.10
CAISO
2.94%
2.92%
0.02
The updated weather algorithm enhances the adaptability of our forecasts, ensuring they remain robust across diverse conditions and seasons.
A Commitment to Excellence in Power Forecasting
Enverus power forecasting solutions combine cutting-edge technology with a relentless focus on improvement. Our ability to deliver highly accurate forecasts during extreme weather events, such as the June 2025 NYISO heat wave, and critical peak periods, like the ERCOT Coincident Peak, demonstrates the reliability of our platform. The recent weather algorithm enhancement further strengthens our models, reducing MAPE across multiple ISOs and reinforcing our commitment to driving superior forecasting outcomes.
By continuously innovating and refining our approach, Enverus ensures that our customers have access to the most accurate and actionable forecasting tools available. Our solutions empower energy market participants to navigate complexity with confidence, delivering measurable value in both routine and extraordinary circumstances.
About Enverus Power and Renewables
With a 15-year head start in renewables and grid intelligence, real-time grid optimization to the node and unparalleled expertise in load forecasting that has outperformed the ISO forecasts, Enverus Power and Renewables is uniquely positioned to support all power insight needs and data-driven decision making. More than 6,000 businesses, including 1,000+ in electric power markets, rely on our solutions daily.
The One Big Beautiful Bill Act (OBBBA), enacted on July 4, introduces sweeping changes to U.S. energy policy, significantly altering the tax credit landscape for clean energy projects. The act repeals key provisions of the Inflation Reduction Act, including longstanding renewable energy tax credits, and imposes stricter construction timelines to qualify for remaining incentives (Figure 1).
Despite these rollbacks, the OBBBA preserves tax credit transferability and extends direct pay options for critical credits for CCUS (45Q), green hydrogen (45V) and clean manufacturing (45X). It also overhauls clean fuel (45Z) and hydrogen credits, disadvantaging green hydrogen and sustainable aviation fuel while favoring renewable diesel, biodiesel, ethanol and RNG. Some 65% of planned clean hydrogen projects in the U.S. must accelerate timelines to ensure project competitiveness. These faster construction schedules necessitate developers to prioritize technology like biomass gasification over green hydrogen to preserve access to lucrative tax credits. Producers must integrate technologies and diversify revenue pathways to position themselves for success in an evolving market. The OBBBA delivers a significant setback to the wind and solar sectors by repealing the investment tax credit and production tax credit. Still, our analysis finds that 30% and 57% of the respective L48 queued solar and onshore wind capacity remain economically viable even in the absence of these credits. Taken together, the legislation represents a dramatic reconfiguration of federal energy incentives. Developers face mounting pressure to act swiftly to navigate shifting policies, stricter eligibility rules and tighter construction deadlines.
Stacking the Odds | Unlocking Value in Clean Fuels Projects – This report analyzes how the One Big Beautiful Bill Act affects clean fuels credits and how combining compliance, tax and voluntary credits across different technologies can optimize revenue for producers.
The One Big Beautiful Bill Act (OBBBA) | Sunburned and Winded – This report assesses where resilient renewable capacity is most concentrated in the U.S. queue and which solar and onshore wind developers are most exposed after the signing of the One Big Beautiful Bill Act.
Enverus Intelligence® | Research, Inc. (EIR) is a subsidiary of Enverus that publishes energy-sector research focused on the oil, natural gas, power and renewable industries. EIR publishes reports including asset and company valuations, resource assessments, technical evaluations and macro-economic forecasts, and helps make intelligent connections for energy industry participants, service companies and capital providers worldwide. See additional disclosures here.
CALGARY, Alberta (July 16, 2025) — Enverus Intelligence® Research (EIR), a subsidiary of Enverus, the most trusted energy-dedicated SaaS company that leverages Generative AI across its solutions, has released a new report examining how clean fuel developers are unlocking greater value through strategic technology integration and smart policy alignment. The report outlines how proposed changes to clean energy tax credits under the One Big Beautiful Bill Act could reshape project economics and create new opportunities for revenue optimization.
EIR’s report covers how stacking various credits can boost revenue for fuel producers by diversifying income streams. To further maximize returns, producers can also stack green technologies to achieve lower carbon intensities and unlock multiple credit pathways. Developers are already adopting technology stacking in different ways — either by vertically integrating the entire value chain or by forming strategic partnerships to leverage complementary capabilities.
“Innovative business models like credit and technology stacking are imperative for industry participants to remain competitive and financially viable in this evolving market. For example, by stacking seven distinct technologies to produce synthetic sustainable aviation fuel, producers can receive a 15x premium over the commodity price of jet fuel,” said EIR Associate Amyra Mardhani.
“Programs like the Renewable Fuel Standard (RFS) and Low Carbon Fuel Standard (LCFS) have successfully increased clean fuel consumption, but favorable credit pricing has led to an oversupply of low-carbon fuels. This has depressed credit values, pushing developers to adopt more innovative strategies such as credit stacking and technology integration to remain competitive,” Mardhani said.
Key takeaways from the report:
The EPA’s RFS and California’s LCFS caused a 360% rise in U.S. clean fuel use since the mid-2000s. Price signals in the early 2020s led to overproduction, reversing momentum and lowering credit values.
Technology stacking uses layered credit streams to help producers increase revenue several times above baseline prices. Synthetic sustainable aviation fuel projects could qualify for multiple incentives totaling as much as $25/gal, providing revenue diversification.
The One Big Beautiful Bill Act supports CCUS and clean fuel technologies but negatively affects green hydrogen and renewables credits.
You must be an Enverus Intelligence® subscriber to access this report.
About Enverus Intelligence® Research Enverus Intelligence ® | Research, Inc. (EIR) is a subsidiary of Enverus that publishes energy-sector research focused on the oil, natural gas, power and renewable industries. EIR publishes reports including asset and company valuations, resource assessments, technical evaluations and macro-economic forecasts; and helps make intelligent connections for energy industry participants, service companies and capital providers worldwide. Enverus is the most trusted, energy-dedicated SaaS company, with a platform built to create value from generative AI, offering real-time access to analytics, insights and benchmark cost and revenue data sourced from our partnerships to 95% of U.S. energy producers, and more than 40,000 suppliers. Learn more at Enverus.com.
CALGARY, Alberta (July 15, 2025) — Enverus Intelligence® Research (EIR), a subsidiary of Enverus, the most trusted energy-dedicated SaaS company that leverages Generative AI across its solutions, has released a new report accessing the impact of the One Big Beautiful Bill Act now that it has been signed into law. In the report, EIR experts evaluate where resilient renewable capacity is most concentrated in the U.S. queue and which solar and onshore wind developers are the most exposed.
“We define resilient projects as those with before-tax levelized cost of energy (LCOEs) that are lower than prevailing power and renewable energy credit (REC) prices. These competitive LCOEs can be achieved without the support of tax credits,” said EIR Analyst Corianna Mah.
“In our analysis, we estimate the top three largest renewable portfolios each have less than 30% of resilient queued capacity.”
“We expect development activity to shift toward states with renewable portfolio standard targets like Arizona, Ohio and others, where stronger REC prices and policy support can still underpin project economics and long-term offtake power purchase agreements (PPAs),” Mah said.
Key takeaways from the report:
An estimated 30% of solar and 57% of onshore wind capacity are resilient to removing the investment and production tax credits. These projects can achieve a before-tax LCOE below their respective markets’ forward power and REC prices without relying on tax credits.
Among the five states with the largest queued solar capacity, Texas, Illinois and Indiana have the lowest shares of resilient projects — 6%, 40% and 41%. Nearly all queued solar projects in California and Arizona are resilient.
Of the leading states by queued onshore wind capacity, Iowa, Illinois and Texas have low shares of resilient projects between 21% and 61%. All evaluated wind projects in Montana and most in Oklahoma meet our resilience threshold.
You must be an Enverus Intelligence® subscriber to access this report.
About Enverus Intelligence® Research Enverus Intelligence ® | Research, Inc. (EIR) is a subsidiary of Enverus that publishes energy-sector research focused on the oil, natural gas, power and renewable industries. EIR publishes reports including asset and company valuations, resource assessments, technical evaluations and macro-economic forecasts; and helps make intelligent connections for energy industry participants, service companies and capital providers worldwide. Enverus is the most trusted, energy-dedicated SaaS company, with a platform built to create value from generative AI, offering real-time access to analytics, insights and benchmark cost and revenue data sourced from our partnerships to 95% of U.S. energy producers, and more than 40,000 suppliers. Learn more at Enverus.com.
In today’s fast-paced markets; traders don’t just need data, they need decisions. At EVOLVE 2025, the Trading & Risk session, “AI-Powered Trading Intelligence: Streamlining Decision Workflows,” spotlighted how artificial intelligence is evolving from a buzzword to a business-critical tool for modern trading desks.
From Overwhelm to Opportunity
Panelists kicked things off with a reality check. Traders are drowning in data. Between market feeds, news cycles and fundamental data sources, the sheer volume is staggering, and it’s only growing. The real challenge is turning this flood of information into timely, actionable insights.
That’s where AI steps in. Rather than manually scrubbing through data or reacting after the fact, AI enables real-time signal detection, automated data wrangling and workflow acceleration, so traders can stay focused on what matters most: strategic decision-making.
The Rise of the Instant Analyst™
One of the standout moments from the session was the introduction of Instant Analyst, a tool built to cut through the noise and serve up context-rich insights in seconds. By integrating both structured and unstructured data, everything from price curves to geopolitical news, Instant Analyst helps traders make faster, more informed calls under pressure.
This isn’t just about speed. It’s about curation. Traders want more than just raw data dumps. They want precision: what’s relevant, what’s moving the market and what it means for their positions, delivered in formats that match their workflow.
Partnerships Powering Performance
The panel also highlighted how partnerships are shaping the future of AI in trading. Instead of building everything in-house, firms are increasingly teaming up with data providers and AI innovators to unlock new capabilities. One expert compared it to a GPS system, “We don’t need to build the map. We just need the best possible route and a system that understands where we’re trying to go.”
These collaborations are especially valuable in tailoring insights to specific commodities, asset classes or even individual roles on the trading desk.
Explainability = Trust
With great power comes great responsibility and that includes understanding the “why” behind AI outputs. Traders aren’t just looking for predictions. They want proof.
The panel emphasized the importance of transparency and explainability in AI models, with backtesting and probabilistic modeling as key tools to validate and build confidence in AI-driven recommendations.
What’s Next?
As the session wrapped up, one theme echoed clearly. AI won’t replace traders, but traders who don’t use AI strategically risk falling behind. The future lies in smarter workflows, not just faster ones. With AI handling the heavy lifting of data analysis, human expertise is free to focus on nuance, creativity and strategy, the real value drivers in modern markets.
Ready to see what AI-powered trading intelligence can do for your strategy? 👉 Explore Enverus Trading & Risk solutions and get ahead of the curve, because in today’s markets, speed alone isn’t enough. You need smart speed.
The Texas Tech University (TTU) System and Fermi America announced an 11 GW data center powered by a mix of natural gas, utility grid power, solar, wind and nuclear energy. The newly founded power company is building one of the largest behind-the-meter advanced energy and artificial intelligence campuses in the U.S., covering about 5,800 acres in the Texas Panhandle.
Fermi was actively pitching the site to hyperscale developers and has likely secured multiple buyers, given the announcement of the project. This adoption would meaningfully expand the buyer’s fleet, positioning alongside today’s top hyperscalers.
Data center construction is estimated at $37 million/MW, and our analysis suggests the four planned AP1000 reactors would require an investment of roughly $7.8 million/MW. With total data center capacity expected to hit 82,000 MW by 2035 (Figure 1) and power supply still a major hurdle, Fermi’s diversified energy strategy may signal a new approach for securing power.
Supply chain backlog and other constraints have driven up the cost of new gas buildout, triggering a surge in M&A activity. Fermi has, so far, navigated this challenge effectively, acquiring over 600 MW of natural gas generation and avoiding the multiyear lead times associated with original equipment manufacturers. As it scales, it will be interesting to see if it can continue avoiding bottlenecks in the market.
Energy transition Research
The One, Big, Beautiful Bill – Plug Pulled, Costs Rise – This report assesses the potential impacts of rolling back Inflation Reduction Act credits on the economics of solar, onshore wind, storage and power purchase agreements.
Infrastructure Alchemy – Coal to Low-Carbon Repowers– This report analyzes coal plants across the Lower 48 to determine optimal characteristics for repowering via natural gas, nuclear energy or enhanced geothermal generation.
Enverus Intelligence® | Research, Inc. (EIR) is a subsidiary of Enverus that publishes energy-sector research focused on the oil, natural gas, power and renewable industries. EIR publishes reports including asset and company valuations, resource assessments, technical evaluations and macro-economic forecasts, and helps make intelligent connections for energy industry participants, service companies and capital providers worldwide. See additional disclosures here.
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