6.9% is how much the Federal Reserve Bank of Dallas researchers estimates data center demand raised U.S. wholesale electricity prices by 2025, with 15% in Northern Virginia. Voters responded on November 3: Limits passed in nearly all of 41 local data center measures, and utility commissions in Georgia, Arizona and Louisiana changed membership. Owners gained new tools the same week, as GridPoint moved to put batteries in 20,000 buildings, Walmart began selling home batteries in Texas stores and EVgo opened a Tesla Supercharger site at a Chicago grocery center.
Grid Stress, Storms and Resilience Economics
A record El Nino points to a milder winter in Texas and a pricier one in California
Forecasters give a better than 90% chance of a very strong El Nino this winter, which typically keeps Arctic air out of much of the country. Forward prices already reflect it, according to S&P Global: ERCOT North on-peak power for January 2027 traded near $62 per MWh, 24% below last year’s January package, while Southern California (SP15) traded near $50, up 4.3%, because persistent cloud cover is expected to cut solar output and push more gas into midday hours. Last winter’s storms Fern and Gianna knocked out as much as 68,169 MW of generation on January 26, and the Federal Energy Regulatory Commission (FERC) review found that ERCOT and PJM deferred maintenance to stay online. A mild forecast lowers expected cost; a single cold snap can still spike it, so backup and demand-response plans stay in place.
SOURCES
Federal Energy Regulatory Commission. “Report: System Performance Review, Winter 2026 Arctic Cold Period.” Sept. 2026. https://ferc.gov/media/report-system-performance-review-winter-2026-arctic-cold-period
Power Engineering. “Winter Storms Fern, Gianna Tested the US Power Grid. 2027 Could Bring a Bigger Reliability Challenge.” Sept. 16, 2026. https://www.power-eng.com/business/policy-and-regulation/winter-storms-fern-gianna-tested-the-us-power-grid-2027-could-bring-a-bigger-reliability-challenge/
S&P Global Energy. “Strong El Nino Expected to Snuff Out Solar, Drive Up Wholesale Power Prices.” Oct. 23, 2026. https://www.spglobal.com/energy/en/news-research/latest-news/electric-power/102326-strong-el-nio-expected-to-snuff-out-solar-drive-up-wholesale-power-prices
A California tribe keeps its emergency hubs running through days-long outages
The Mesa Grande Band of Diegueno Mission Indians in San Diego County completed solar and battery systems on three Tribal administration buildings that house government, housing services, food distribution and emergency response. Tribal Chairman Curtis La Chusa said outages in the rural area can last days. The systems are expected to produce about 60 MWh a year and save the Tribe at least $16,780 annually, and four Tribal members with solar installation training worked on the project, which the Solar Electric Light Fund facilitated. The power comes ahead of the Tribe’s first new housing in more than two decades: 12 homes on the Golden Eagle property, due by spring 2028, funded in part by a $12.4 million California Tribal Homekey award, under a master plan for up to 150 homes. The project shows the cellular model at small scale: a cluster of community buildings that can island and keep essential services open while new housing is built around it.
SOURCES
Renewable Energy Magazine. “Mesa Grande Reservation Harnesses Solar Energy.” Oct. 21, 2026. https://www.renewableenergymagazine.com/pv_solar/mesa-grande-reservation-harnesses-solar-energy-to-20261021
Solar Power World. “Solar and Storage Project Grants New Resilience on California Reservation.” Oct. 20, 2026. https://www.solarpowerworldonline.com/2026/10/solar-storage-project-grants-new-resilience-on-california-reservation/
Tribal Business News. “Mesa Grande Adds Solar Power, Prepares First New Housing in Two Decades.” Nov. 7, 2026. https://tribalbusinessnews.com/energy/mesa-grande-adds-solar-power-prepares-first-new-housing-in-two-decades/
Issaquah adds a sodium-ion battery to turn a 110-year-old barn into an islanding resilience hub
Issaquah, Washington, will add a 60 kWh sodium-ion battery to Pickering Barn, a city-designated resilience hub that already has a 64.9 kW solar array completed this year, heat pumps installed in 2025 and LEED Gold certification. Seattle-based Emerald Battery Labs will handle integration, energy management and safety validation, including UL 9540 and 9540A certification, and a $671,000 grant from TransAlta Centralia Generation supports the project. Once the battery is in, the building can island from the grid during outages. “Pairing solar power with battery storage at Pickering Barn will help keep essential services available during power outages,” said Mayor Mark Mullet. Sodium-ion chemistry is entering building-scale storage, where its fire-safety profile can ease permitting for occupied and historic structures.
SOURCES
Emerald Battery Labs via GlobeNewswire (Yahoo Finance). “Emerald Battery Labs Partners With City of Issaquah on Pickering Barn Resiliency Project.” Oct. 29, 2026. https://finance.yahoo.com/energy/articles/emerald-battery-labs-partners-city-160000445.html
Microgrid Knowledge. “Washington City Advances Solar-Plus-Storage Microgrid at Community Resilience Hub.” Nov. 4, 2026. https://www.microgridknowledge.com/microgrids/community/news/55416578/washington-city-advances-solar-plus-storage-microgrid-at-community-resilience-hub
Exelon asks FERC to move PJM to a capacity auction held two months before delivery
Exelon filed a complaint at FERC on November 3 arguing that PJM Interconnection’s three-year-forward capacity auction has become unjust and unreasonable because data center load forecasts change faster than plants can be built. It asks for prompt auctions about two months before each delivery year, starting with 2030 to 2031, and a FERC order by January 31, 2027. The December 2026 auction for 2029 to 2030 would proceed as scheduled. A day later, Invenergy filed a separate complaint asking that merchant high-voltage direct current lines such as its 5 GW Grain Belt Express be paid for capacity in the Midcontinent Independent System Operator (MISO) market. PJM said it will respond “at the appropriate time” and will hold a market design workshop on November 13. Capacity charges flow into commercial electric bills, so auction timing affects how fast data center growth shows up in operating budgets.
SOURCES
PJM Interconnection (FERC Docket EL27-11). “Exelon Corporation Complaint Requesting Fast Track Processing.” Nov. 3, 2026. https://www.pjm.com/-/media/DotCom/documents/ferc/filings/2026/20261103-el27-11-000.pdf
Utility Dive. “Exelon, Invenergy File FERC Complaints Over PJM and MISO Capacity Markets.” Nov. 5, 2026. https://www.utilitydive.com/news/exelon-invenergy-ferc-complaint-pjm-miso-capacity-market-/873845/
Electrification Economics at the Property Level
Georgia Power promises flat base rates through 2029 as a new commission majority arrives
Southern Company chief executive Chris Womack said the company is “committed to holding base rates flat in Alabama and Georgia to at least 2029,” days after Georgia voters gave the Public Service Commission (PSC) a 3-2 Democratic majority. The previous commission approved six rate increases in recent years that added about $43 to the average monthly residential bill, then agreed to rate freezes and rules meant to keep data center costs off other customers. Southern projects $85 billion in five-year capital spending that could reach $100 billion if its utilities build new generation themselves. Base rates are one piece of the bill; fuel and capacity riders can still move, so owners should model those separately.
SOURCES
Georgia Public Broadcasting. “Democrats to Take Control of Georgia Public Service Commission.” Nov. 4, 2026. https://www.gpb.org/news/2026/11/04/democrats-take-control-of-georgia-public-service-commission
The Atlanta Journal-Constitution. “Georgia PSC Changes Loom as Southern Posts Strong Earnings.” Nov. 6, 2026. https://www.ajc.com/business/2026/11/southern-co-profits-psc-changes/
Boise brings geothermal heat to 300 affordable apartments with a $2.5 million Micron grant
Micron Technology gave $2.5 million in gap financing to the Lusk Housing District in Boise, a J. Fisher Co. development with the city’s Housing Land Trust that will heat more than 300 affordable homes from the city’s geothermal network. The city calls it the first U.S. use of geothermal heat for multifamily affordable housing. Funding also includes tax credits and private activity bonds through the Idaho Housing and Finance Association, the Capital City Development Corporation and a $1 million Bloomberg Philanthropies Mayors Challenge award. Groundbreaking is expected in spring 2027. District heating takes the most volatile utility line, space heat, out of the operating budget.
SOURCES
City of Boise. “Boise Receives $1 Million to Advance Geothermal System.” Feb. 2026. https://www.cityofboise.org/news/mayor/2026/february/boise-receives-1-million-to-advance-geothermal-system/
Renewable Energy Magazine. “Micron Technology Gives $2.5M to Bring Geothermal Heat to Boise Affordable Housing.” Oct. 29, 2026. https://www.renewableenergymagazine.com/geothermal/micron-technology-gives-2-5m-to-bring-20261029
Blink cuts demand fees 21% at high-use charging sites with energy software
Blink Charging reported its first positive adjusted EBITDA, $0.2 million, for the third quarter even as revenue fell 32% to $18.4 million. The company is repositioning as Blink Energy and has rolled out its EnergyConnect software to 52 Blink-owned sites, where it reports an initial 21% reduction in demand fees at high-capacity locations. Demand charges are often the largest cost at a fast-charging site; software that schedules charging around peaks can decide whether a host property’s chargers make or lose money.
SOURCES
U.S. Securities and Exchange Commission. “Blink Charging Co. Form 8-K, Exhibit 99.1: Third Quarter 2026 Results.” Nov. 5, 2026. https://www.sec.gov/Archives/edgar/data/0001429764/000149315226050225/ex99-1.htm
Solar, Storage and VPPs
GridPoint plans 2 GW of batteries across more than 20,000 commercial buildings
GridPoint, whose energy management systems run in more than 20,000 restaurants, stores and service buildings, launched an initiative to add onsite batteries across that portfolio, targeting 2 GW. The company says storage can add up to 15% in bill savings on top of the roughly 20% its controls deliver, largely by cutting demand charges, which often make up 30% to 50% of a commercial bill. GridPoint also counted 1,699 weather-related outages at customer sites in 26 states last year. Batteries placed under an existing controls contract give multi-site operators a path to peak shaving and backup power without a separate procurement.
SOURCES
Facilities Dive. “GridPoint Adds Onsite Battery Storage to Help Facilities Bring Down Costs.” Nov. 4, 2026. https://www.facilitiesdive.com/news/gridpoint-adds-on-site-battery-storage-to-help-facilities-bring-down-costs/873722/
GridPoint. “GridPoint Nears $1.5B in Customer Energy Savings as Electricity Prices Hit Record Highs.” March 4, 2026. https://www.gridpoint.com/news/gridpoint-nears-1-5b-in-customer-energy-savings-as-electricity-prices-hit-record-highs/
pv magazine USA. “GridPoint Launches Energy Storage Initiative Targeting 2 GW of Distributed Installations.” Nov. 4, 2026. https://pv-magazine-usa.com/2026/11/04/gridpoint-launches-energy-storage-initiative-targeting-2-gw-of-distributed-installations/
Walmart invests in Base Power and sells its home batteries in Texas stores
Walmart made an undisclosed strategic investment in Base Power, an Austin battery company that installs, owns and maintains home batteries for an upfront fee and uses the fleet to support the grid at peak times. Starting this month, Walmart and Sam’s Club shoppers at participating Texas locations get 20% off Base’s installation fee. Base has more than 35,000 Texas members, over 20,000 of them with a battery. “Base Power gives them a practical way to help lower energy costs,” said Shayne Wahlmeier, senior vice president of Walmart Energy. A national retailer now sells distributed energy at the register, and its own landlords and neighboring owners can expect similar offers.
SOURCES
ESG Today. “Walmart Backs Home Battery Startup Base Power.” Nov. 3, 2026. https://www.esgtoday.com/walmart-backs-home-battery-startup-base-power/
The Shelby Report. “Walmart Invests in Base Power, Bringing Home Battery Backup to Stores.” Nov. 2, 2026. https://theshelbyreport.com/2026/11/02/walmart-invests-in-base-power-bringing-home-battery-backup-to-stores/
Front Range co-op adds 200 MWh of batteries to keep up with new development
CORE Electric Cooperative, which serves more than 375,000 residents along Colorado’s Front Range, and Madison Energy Infrastructure plan 50 MW and 200 MWh of Tesla Megapacks at three sites, among the first projects under Madison’s $50 million agreement with Tesla. Commercial operation is targeted for September 2027. The batteries add distribution capacity for load growth from new development and help the co-op manage peak demand and power costs. Utility batteries placed near growing load can shorten the wait for service at new projects in the territory.
SOURCES
ColoradoBiz. “CORE Electric and Madison Plan 50 MW Battery Storage at Three Colorado Sites.” Oct. 27, 2026. https://coloradobiz.com/core-electric-madison-battery-storage-colorado/
Madison Energy Infrastructure via PR Newswire. “Madison Energy Infrastructure and CORE Electric Cooperative Launch Community Infrastructure Partnership.” Oct. 26, 2026. https://www.prnewswire.com/news-releases/madison-energy-infrastructure-and-core-electric-cooperative-launch-community-infrastructure-partnership-302919554.html
Xcel’s Colorado solicitation pays for 50 MW a year of small solar and storage plants on the distribution grid
Colorado’s Dispatchable Distributed Generation program, approved by the Colorado Public Utilities Commission in 2025, requires Xcel Energy to buy at least 50 MW a year in 2026 and 2027 from community-scale solar paired with batteries, typically 1 MW to 5 MW and connected directly to local distribution lines. Xcel identifies where capacity is most needed, and bids are scored on location and grid benefit along with cost. Most projects are expected to be developed by third parties. The program creates a utility buyer for mid-size solar and storage on commercial and industrial land in locations where the distribution grid needs help.
SOURCES
Solar Builder. “Details on Colorado’s Push for Dispatchable Distributed Energy.” 2025. https://solarbuildermag.com/news/details-on-colorados-push-for-dispatchable-distributed-energy/
Utility Dive (Opinion, Mary Rafferty, Common Charge). “Colorado Has Provided the Blueprint for Integrating Community Power.” Aug. 17, 2026. https://www.utilitydive.com/news/colorado-has-provided-the-blueprint-for-integrating-community-power/826175/
Xcel Energy. “2026 PSCo RFP (developer portal).” Accessed Nov. 9, 2026. https://co.my.xcelenergy.com/s/renewable/developers/2026-psco-rfp
Xcel Energy. “2026 PSCo Supplemental RFP (developer portal).” Accessed Nov. 9, 2026. https://co.my.xcelenergy.com/s/renewable/developers/2026-psco-supplemental-rfp
Policy and Market Rules
The Senate holds its first vote on permitting reform during the lame-duck session
The Senate voted 73-25 on November 9 to invoke cloture on the motion to proceed to S. 5653, the Bipartisan American Affordability and Jobs Act, clearing the 60-vote threshold with 22 Democratic votes. The vote opens debate and amendments; final passage still requires further Senate votes, and the House has not committed to taking up the Senate text. The bill would set two-year deadlines for full environmental impact statements, limit most lawsuits over federal permits to 150 days and require new data centers of 20 MW or more to pay the full cost of the grid upgrades they need. Our October 28 feature explains what the bill means for onsite power:
SOURCES
Permitting Bill Passes First Procedural Senate Vote, Law360, Nov. 9, 2026
Senate advances energy permitting bill opposed by some Democrats, tribes, Reuters via Yahoo, Nov. 9, 2026
Senate advances bipartisan permitting bill in key test vote, Axios, Nov. 9, 2026
Senate advances bipartisan permitting reform bill, teeing up passage, The Hill via Yahoo, Nov. 9, 2026
Senate permitting overhaul clears procedural hurdle, but obstacles remain, The Washington Times, Nov. 9, 2026
Senate votes 73-25 to take up bipartisan permitting bill, MLQ.ai
Voters change the makeup of utility commissions in Georgia, Arizona and Louisiana
Utility regulators were on the ballot in several states. In Georgia, Peter Hubbard (D) defeated former commissioner Fitz Johnson (R) and Sheila Edwards (D) defeated Josh Tolbert (R), giving the five-member PSC a 3-2 Democratic majority. In Arizona, the Associated Press called two Arizona Corporation Commission seats for Democrats Clara Pratte and Jonathon Hill over incumbent Kevin Thompson and state Rep. Ralph Heap, both Republicans, changing an all-Republican commission next year. In Louisiana, Republicans Stephanie Hilferty and John Atkins won open PSC seats, widening the Republican majority; the commission plans to vote on Meta’s Hyperion project with Entergy on November 18, before the new members are sworn in. Commissions set tariffs, large-load rules and the pace of rate cases, so a change in membership can change filings already in process.
SOURCES
Georgia Public Broadcasting. “Democrats to Take Control of Georgia Public Service Commission.” Nov. 4, 2026. https://www.gpb.org/news/2026/11/04/democrats-take-control-of-georgia-public-service-commission
KJZZ. “Democrats Jonathon Hill and Clara Pratte Win Seats on Arizona Corporation Commission.” Nov. 6, 2026. https://www.kjzz.org/elections/2026-11-06/democrats-jonathon-hill-and-clara-pratte-win-seats-on-arizona-corporation-commission-elex
WWNO. “Louisiana PSC Election Results: Hilferty Wins District 1 Seat, Atkins Wins in District 5.” Nov. 3, 2026. https://www.wwno.org/politics/2026-11-03/louisiana-psc-election-results-hilferty-wins-district-1-seat-atkins-wins-in-district-5
Local Governance and Federal Policy
Voters approve limits in nearly all of 41 local data center measures
Voters in 10 states decided 41 local data center measures on November 3, and the results were “almost unanimously skewed against data center development,” according to an analysis by the law firm Venable. Approved limits include a public vote requirement for an 800 MW campus in Janesville, Wisconsin; a retroactive 180-day moratorium in Wells, Maine; 25 MW caps in Ottawa, Kansas; and restrictions in El Dorado, Kansas, that also reach certain battery storage. Large-load proposals now carry a ballot risk in communities with active referendum processes, which lengthens site-selection timelines.
SOURCES
Ballotpedia. “Data Center-Related Ballot Measures, 2026.” 2026. https://ballotpedia.org/Data_center-related_ballot_measures,_2026
Venable LLP. “Voters Approve Data Center Restrictions.” Nov. 4, 2026. https://www.venable.com/insights/publications/2026/11/voters-approve-data-center-restrictions
Ohio towns pass bans or limits in at least 14 of 18 communities
Ohio held 21 of the nation’s 41 local data center measures, spread across 18 municipalities, and at least 14 passed bans or restrictions, Fortune reported. Sunbury banned projects of 25 MW or more by charter amendment; Trenton passed a ban with about 80% of the vote; Wilmington voters rejected rezoning in four referendums; Ashville voted to block a campus already under construction; and Perry required developers seeking tax breaks to post financial guarantees, with more than 87% approval. All five central Ohio communities with measures voted against data centers. Caps measured in megawatts can also reach large battery, cold storage and manufacturing projects, so owners should read the definitions in each ordinance.
SOURCES
Fortune. “Ohio Data Center Ballot Measures in the Midterm Elections.” Nov. 4, 2026. https://fortune.com/2026/11/04/ohio-data-center-ballot-measures-midterm-elections/
StockAnalysis. “Ohio Votes to Ban or Limit Data Centers in at Least 14 Towns.” Nov. 4, 2026. https://stockanalysis.com/news/ohio-voters-pass-data-center-bans/
A North Dakota county extends its data center pause after farmland was tied up under NDAs
Barnes County, North Dakota, commissioners extended a data center moratorium by six months, to May, to finish zoning rules. Residents had objected that developers used nondisclosure agreements to secure farmland before neighbors could weigh in. The draft ordinance would set baseline application and facility standards for projects of any size. Secrecy at the land-assembly stage is now drawing the same response in rural counties that it drew in suburbs.
SOURCE
KFGO. “Barnes County Extends Data Center Moratorium to Draft Local Rules.” Nov. 6, 2026. https://kfgo.com/2026/11/06/1372510/
EV Charging in Real Places
EVgo signs Brixmor and Regency Centers for more than 900 fast chargers at grocery centers
EVgo reported third-quarter revenue of $91.4 million, with charging network revenue up 29% to $71.8 million. Its network reached 5,530 stalls, up 20%, delivered 103 GWh and averaged 283 kWh per stall per day. The company announced partnerships with Brixmor Property Group and Regency Centers for more than 900 fast chargers at grocery-anchored centers, plans a 750 kW charging architecture for 2027 and guided to 1,075 to 1,275 new stalls this year. Shopping center REITs are signing portfolio-wide charging deals, which sets a lease benchmark for smaller retail owners.
SOURCE
U.S. Securities and Exchange Commission. “EVgo Inc. Form 8-K, Exhibit 99.1: Third Quarter 2026 Results.” Nov. 9, 2026. https://www.sec.gov/Archives/edgar/data/0001821159/000182115926000032/exhibit991evgoearningsrele.htm
EVgo opens its first Tesla Supercharger site at a Chicago grocery center
EVgo opened 12 Tesla Supercharger stalls near downtown Chicago on November 5 at a grocery-anchored property owned by Regency Centers. The stalls use Magic Dock, so Tesla and other vehicles can charge without an adapter, and they appear in Tesla’s in-car navigation. EVgo calls the site the first of hundreds of Supercharger stalls it will open and expects 500 stalls with the North American Charging Standard (NACS) connector by year-end. “By serving both Tesla and non-Tesla NACS drivers, we’re doubling EVgo’s addressable market,” said chief executive Badar Khan. A host site listed in Tesla’s navigation reaches the largest group of EV drivers in the country.
SOURCES
EVgo. “EVgo Opens First Supercharger Site as Part of Network Expansion.” Nov. 5, 2026. https://www.evgo.com/press-release/evgo-opens-first-supercharger-site-as-part-of-network-expansion/
EVgo via GlobeNewswire. “EVgo Opens First Supercharger Site as Part of Network Expansion.” Nov. 5, 2026. https://www.globenewswire.com/news-release/2026/11/05/3396372/0/en/evgo-opens-first-supercharger-site-as-part-of-network-expansion.html
Hypercharge buys REVS to bring zero-capital charging to U.S. apartments and hotels
Canadian operator Hypercharge Networks acquired Texas-based REVS Charging for up to $4.75 million in cash and stock, adding more than 500 owned Level 2 ports and about 700 customer-owned ports across multifamily, condominium, hospitality and commercial properties. REVS generates more than C$1 million a year at gross margins above 45%, and the combined network exceeds 10,000 ports in 14 states. Third-party owned charging lets apartment and hotel owners offer chargers without capital outlay, in exchange for sharing revenue and committing parking spaces.
SOURCES
Business News Today. “Hypercharge Networks Expands Into U.S. EV Charging Market With Up to US$4.75M REVS Acquisition.” Sept. 29, 2026. https://business-news-today.com/hypercharge-networks-expands-into-u-s-ev-charging-market-with-up-to-us4-75m-revs-acquisition/
Charged EVs. “Canadian EV Charging Operator Hypercharge Expands Its US Presence With Acquisition of REVS Charging.” Oct. 26, 2026. https://chargedevs.com/newswire/canadian-ev-charging-operator-hypercharge-expands-its-us-presence-with-acquisition-of-revs-charging/
EV Market Signals
U.S. EV sales reach their highest quarter in a year at 6.4% of the market
Americans bought 262,649 EVs in the third quarter, 6.4% of new-vehicle sales, up from 5.8% in the second quarter, according to Cox Automotive’s Kelley Blue Book estimates. Sales rose 6.1% from the prior quarter and fell 39.5% from the record quarter a year earlier, when buyers rushed to beat the end of federal tax credits. Counting hybrids and plug-in hybrids, nearly a quarter of sales were electrified. “With gas prices well above $4 a gallon, electric vehicles look better than ever,” said Stephanie Valdez Streaty of Cox Automotive. A stable 6% share points to steady, gradual growth in charging demand.
SOURCES
Cox Automotive. “Q3 2026 EV Sales Report Commentary.” Oct. 12, 2026. https://coxautoinc.com/insights/q3-2026-ev-sales-report-commentary
Cox Automotive. “Q3 2026 Kelley Blue Book EV Sales Report.” Oct. 12, 2026. https://www.coxautoinc.com/wp-content/uploads/2026/10/Q3-2026-Kelley-Blue-Book-EV-Sales-Report-updated-as-of-10-12-26.pdf
Used EV values rise 6.6% in a year while the overall used market gains 2%
Cox Automotive’s Manheim index of wholesale used-vehicle prices rose to 206.8 in October, up 2% from a year earlier, while its EV index rose 6.6%. Used EV retail sales hit a record 124,000 in the third quarter, up 11.4%, though still only 2.8% of used sales, and EVs are expected to make up about 16% of off-lease supply in the second half of 2026. A growing supply of affordable used EVs brings more drivers who depend on workplace and multifamily charging.
SOURCES
Anadolu Agency. “Higher Fuel Costs Reshape US Used Car Market as EVs Outperform.” Oct. 7, 2026. https://www.aa.com.tr/en/economy/higher-fuel-costs-reshape-us-used-car-market-as-evs-outperform/4081122
Cox Automotive. “Manheim Used Vehicle Value Index: October 2026 Trends.” Nov. 6, 2026. https://www.coxautoinc.com/insights/manheim-used-vehicle-value-index-october-2026-trends/
Average new EV prices fall 3% as automaker incentives hit a 2026 low
The average transaction price for a new EV was $55,879 in September, down 3% from a year earlier, against $50,562 for all vehicles, according to Kelley Blue Book. EV incentives fell to 11% of the transaction price, the lowest level this year, from 14.2% a year earlier. Cox forecast October new-vehicle sales at a 16.1 million seasonally adjusted annual rate, up from 15.7 million a year earlier. A narrowing price gap with smaller discounts means demand rests more on product and fuel costs than on subsidies.
SOURCES
Cox Automotive. “Kelley Blue Book Report: Average New-Vehicle Transaction Prices Flirt With All-Time High.” Oct. 13, 2026. https://www.coxautoinc.com/insights/sept-2026-atp-report/
Cox Automotive. “October 2026 New-Vehicle Sales Forecast.” Oct. 2026. https://www.coxautoinc.com/wp-content/uploads/2026/10/October-2026-Cox-Automotive-new-vehicle-sales-forecast-press-release-1.pdf
Data Center Demand and Innovation
Southern Company’s commercial sales jump 10% as data center growth reaches 52%
Southern Company reported third-quarter net income of $2.0 billion, up from $1.7 billion, as commercial electricity sales rose 10.1%, or 7.3% adjusted for weather, and total retail sales rose 7.7%. Data center growth was up 52% from a year earlier, the Atlanta Journal-Constitution reported, and Georgia now leads the nation in data center construction, with growth moving west into Alabama and Mississippi. “The Southeast is growing at a pace that is both unprecedented and transformational,” said chief executive Chris Womack. Faster commercial load growth raises the stakes for how new generation costs are allocated among customer classes.
SOURCES
Southern Company via Finviz. “Southern Company Reports Third Quarter 2026 Earnings.” Nov. 5, 2026. https://finviz.com/news/416808/southern-company-reports-third-quarter-2026-earnings
The Atlanta Journal-Constitution. “Georgia PSC Changes Loom as Southern Posts Strong Earnings.” Nov. 6, 2026. https://www.ajc.com/business/2026/11/southern-co-profits-psc-changes/
Dallas Fed researchers find data centers raised wholesale power prices 6.9%
A Federal Reserve Bank of Dallas working paper by Kay, Reaser and Taylor estimates that data center demand raised U.S. wholesale electricity prices 6.9% by 2025, and 15% in Northern Virginia, the largest data center market. The authors project a 12.3% national effect by 2028. Wholesale costs reach commercial bills through supply contracts and utility energy charges, so the study gives owners a measured basis for budgeting energy cost increases in data center regions.
SOURCES
Federal Reserve Bank of Dallas. “Processing Power: Data Centers and Wholesale Electricity Prices (Working Paper 2606).” Revised Oct. 2026. https://www.dallasfed.org/research/papers/2026/wp2606
Federal Reserve Bank of Dallas. “Working Paper 2606, Revision 1 (PDF).” Oct. 2026. https://www.dallasfed.org/~/media/documents/research/papers/2026/wp2606r1.pdf
Commercial electricity use passes residential for the first time
The U.S. Energy Information Administration (EIA) projects in its October Short-Term Energy Outlook that commercial electricity sales reach 1,549 billion kWh in 2026, edging past residential sales of 1,541 billion kWh, a year earlier than its May outlook indicated. The gap widens in 2027 to 1,592 billion kWh versus 1,534 billion kWh, as demand in the commercial class, which includes data centers, grows 2.8% while residential demand holds roughly flat. Writing in POWER, Itron’s Nick Tumilowicz argues that single commercial customers can now add hundreds of megawatts to a small area faster than utilities can build, and that planners should use batteries, EV chargers and controllable building loads to manage local constraints: “Build Where Necessary. Optimize Wherever Possible.” Flexible building load becomes a planning resource the utility can count on.
SOURCES
Electrical Contractor Magazine. “Commercial Electricity Usage Surpasses Residential, Driving Increase in U.S. Consumption.” 2026. https://www.ecmag.com/magazine/articles/article-detail/commercial-electricity-usage-surpasses-residential--driving-increase-in-u.s.-consumption
POWER Magazine. “When Commercial Demand Takes the Lead: Rethinking Grid Planning for a New Load Era.” Nov. 6, 2026. https://www.powermag.com/when-commercial-demand-takes-the-lead-rethinking-grid-planning-for-a-new-load-era/
U.S. Energy Information Administration. “Short-Term Energy Outlook: Electricity, Coal, and Renewables.” October 2026 edition, released Oct. 6, 2026. https://www.eia.gov/outlooks/steo/report/elec_coal_renew.php
A Connecticut town weighs a gas-fired microgrid data center offering an $8 million host fee
Developer Global Common proposes a data center at 76 Geer Street in Cromwell, Connecticut, that would run on its own microgrid fueled from the Algonquin Gas Transmission line on the property and pay the town an $8 million annual host fee. Current zoning allows data storage facilities by right. The Planning and Zoning Commission will hold a December 3 hearing on a six-month moratorium and on a resident’s amendment requiring a special permit, a 500-foot residential setback, a one-mile school buffer and 100% offgrid renewable power. The Town Council takes up a ban on data center tax abatements November 18. Self-powered projects shift the local debate from grid costs to land use, emissions and host payments.
SOURCE
WFSB. “Cromwell Reconsiders Moratorium to Pause New Data Center Developments.” Nov. 5, 2026. https://www.wfsb.com/2026/11/05/cromwell-considers-moratorium-pause-new-data-center-developments/
C-PACE News
New Jersey’s C-PACE program reaches 17 municipalities
New Jersey’s Garden State C-PACE program now lists 17 participating municipalities and is accepting applications for commercial, industrial, agricultural and certain multifamily properties, with terms of up to 30 years, capped at the useful life of the improvements. Its largest deal to date is a $101 million Nuveen Green Capital loan for Lionsgate Studios Newark, closed in August. Program rules leave rates to negotiation between owner and lender. Owners outside participating towns can ask their municipality to adopt the program using the state’s opt-in documents.
SOURCES
New Jersey Economic Development Authority. “Garden State C-PACE Program.” Accessed Nov. 9, 2026. https://www.cpacenj.gov/
New Jersey Economic Development Authority. “NJEDA and Nuveen Green Capital Announce Closing of $101M Loan Under the Garden State C-PACE Program for Lionsgate Studios Newark.” Aug. 13, 2026. https://www.njeda.gov/njeda-and-nuveen-green-capital-announce-closing-of-101m-loan-under-the-garden-state-c-pace-program-for-lionsgate-studios-newark/
New Jersey Economic Development Authority. “NJEDA Releases Opt-In Documents for Municipalities to Participate in Garden State C-PACE Program.” 2025. https://www.njeda.gov/njeda-releases-opt-in-documents-for-municipalities-to-participate-in-garden-state-c-pace-program/
Lenders pitch C-PACE as a cheaper substitute for mezzanine debt
CounterpointeSRE published guidance on October 26 positioning C-PACE as an alternative to preferred equity and mezzanine debt as refinancing gets harder. CoStar has reported that C-PACE carries fixed rates of about 5% to 8%, often priced near the 10-year Treasury plus 3 percentage points with terms up to 30 years, compared with 10% to 14% for preferred equity. Originations reached a record of about $3.5 billion in 2025 by most industry estimates. Senior lender consent remains the gating item in most deals, as our November 4 feature explained.
SOURCES
ChargedUp!. “C-PACE Moves Into Data Centers and Hotels.” Nov. 4, 2026.
CoStar News. “C-PACE, the Unfamiliar Name That’s Now Serious Money in Commercial Property Financing.” March 15, 2026. https://www.costar.com/article/522945674/c-pace-the-unfamiliar-name-thats-now-serious-money-in-commercial-property-financing
CounterpointeSRE. “C-PACE as an Alternative to Preferred Equity and Mezzanine Debt.” Oct. 26, 2026. https://counterpointesre.com/news/
Atlanta’s Westin Peachtree Plaza shows C-PACE financing a hotel acquisition
Portman is using about $64 million in C-PACE financing from Nuveen Green Capital, with BMO participating, to acquire and renovate the 1,073-room Westin Peachtree Plaza, the largest C-PACE deal in Georgia. Invest Atlanta, which administers the program, projects nearly $250,000 a year in energy and water savings and approved a fixed rate for the project. Lone Star PACE separately reported $64.8 million in Texas C-PACE closings in the first half of 2026 supporting about $279 million in investment. Acquisition-stage C-PACE lets a buyer fund renovation upfront at a fixed rate.
SOURCES
Invest Atlanta. “C-PACE Financing Boosts Energy Efficiencies.” June 24, 2026. https://www.investatlanta.com/impact-insights/c-pace-financing-boosts-energy-efficiencies
Lone Star PACE. “Nearly $65M in High-Impact C-PACE Deals Closed by Lone Star PACE Halfway Through 2026.” Aug. 5, 2026. https://www.lonestarpace.com/lone-star-pace-mid-year-recap-2026/
Pulse. “NGC Closes $64M C-PACE Financing for Westin Peachtree Plaza.” June 5, 2026. https://www.pulse.bot/finance/deals/ngc-closes-64m-c-pace-financing-for-westin-peachtree-plaza-40200dec-aa8c-420e-b055-f72ed5734d1a/