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Solar, battery capacity saved the Texas grid last summer; an uncertain future awaits
As ERCOT forecasts accelerated load growth due to anticipated data center construction and electrification trends, the current generation mix and market design should garner increased scrutiny.
Working Paper
Investing in the Batteries and Vehicles of the Future: A View Through the Stock Market
A large number of companies operating in the EV and battery supply chain have listed on a U.S. stock exchange in recent years. I compile a unique data set of high-frequency stock returns for those companies and investigate the extent to which an “industry” factor specific to the EV and battery supply chain (an “EV” factor) can explain their returns. Those returns are decomposed into systematic and idiosyncratic components, with the former given by a set of latent factors extracted from a large panel of stock returns using high-frequency principal components. It is found that a market ...
Working Paper
Investing in the Batteries and Vehicles of the Future: A View Through the Stock Market
A large number of companies operating in the EV and battery supply chain have listed on a major U.S. stock exchange in recent years. This paper investigates 1) how these companies’ stock returns are related to systematic risk factors that can explain movements in the stock market and 2) how these companies’ idiosyncratic returns are related to one another. To do so, I compile a unique data set of intradaily stock returns that spans the supply chain, including companies focused on the mining of battery and EV-related critical minerals, advanced battery technology, lithium-ion battery ...
Batteries, solar help keep the lights on in Texas but more needed
Many Texas residents remain skeptical about the reliability of the electric grid since massive dayslong outages in February 2021. Notably, the power supply situation has since improved, with capacity added over the past two years, primarily from solar and a tripling of battery storage capacity.