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Advait Arun
Reports
Bubble or Nothing
Policymakers concerned about the deployment of clean energy and compute-focused infrastructure over the long term need a framework for managing the uncertainty in the AI sector's investment landscape—and for understanding the local and regional impacts of a market correction that strands data centers and their energy projects.
What’s next for the LPO?
Read the full report here. Read our abridged list of recommendations here. Executive Summary The One Big Beautiful Bill Act, now made law, looks better for the Loan Programs Office than what the Senate Energy and Natural Resource Committee had initially proposed. That first draft both rescinded funding for and repealed the authorities of all […]
Committing to the Drill Bit
Read the full report here. Executive summary Proponents of enhanced geothermal energy are correct that this nascent technology has incredible potential to decarbonize the U.S. energy system. Enhanced geothermal systems (EGS) share drilling technologies with the shale fracking industry, making them a compelling option for policymakers looking to leverage existing American supply chains to drive […]
American Nuclear Moonshot
Access the report here. Despite growing policymaker and industry interest in nuclear power, the U.S. has failed to deploy more than one new nuclear power project in the past three decades. Why? The failure to deploy this “clean firm” source of power is the result of financing challenges, which are themselves the result of the […]
Project finance
Read our report on project finance here. Upstream of project developers are their financiers. The investment banks, pension funds, and asset managers looking to earn a return on their investments may legitimately be interested in the social and environmental benefits that infrastructure provides—but they are for certain more interested in the returns on their loans […]
Posts
Holding Down the Fort: What States Can Do To Advance Decarbonization
CPE’s Director of Energy Yakov Feygin and Senior Associate for Capital Markets Advait Arun prepared a research memo for the SEEC Institute outlining how states can advance decarbonization and green industrial policy amid federal uncertainty. This memo draws on CPE’s work with state agencies and municipalities nationwide, and demonstrates how tools like green banks, revolving […]
Financial functionalities for state instrumentalities
In our work supporting state financing instrumentalities, state energy offices, and local governments in preparing clean energy deployment plans, we have often found ourselves describing the kinds of capabilities and functionalities that we believe public financial instrumentalities must be able to exercise in order to meet their decarbonization and community development goals. While we have […]
Maintaining momentum through public enterprise
Watch the webinar here.Read the presentation here. On August 1, 2025, the Center for Public Enterprise, RMI, Milken Institute Community Infrastructure Center, and S2 Strategies hosted a webinar called “Maintaining Momentum: How States and Private Finance Can Continue to Lead on Clean Energy.” The leadership of subnational governments, green banks, and private financing are vital […]
Leveling the playing field
The One Big Beautiful Bill Act, recently signed into law, made an interesting tweak to the tax structure of energy projects: It reinstated developers’ ability to deduct the total cost of their capital expenditures from their taxable income in the year they made those expenditures. This provision, known as “full expensing” or “100 percent bonus […]
One big beautiful blackout
It’s not just about cost—the bill text imposes new and perhaps insurmountable uncertainties on project developers and investors.
A brownout at the LPO?
This proposal would, in no uncertain terms, mean the end of the Loan Programs Office as we know it. And, as written, the Energy Dominance Financing program that Senate ENR has put forth to replace the LPO’s existing programs is not set up for success, either.
Energy finance trends in 2024: What are the experts saying?
Every January, the project finance law team at Norton Rose Fulbright brings together infrastructure investment experts to discuss trends across the American energy finance landscape. These Cost of Capital Outlook reports have been a fount of information for our team’s energy finance modeling work. There’s no other source we’ve found that so succinctly covers trends […]