December 2020 Newsletter

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ICAST Announces Partnership with Pepco


The Potomac Electric Power Company (Pepco), an electric utility based out of Washington DC, has awarded ICAST a three-year contract to implement its new energy efficiency program for low-income multifamily housing in the District of Columbia.

ICAST will focus on deep retrofit measures such as energy-efficient heat-pump HVAC and hot water upgrades to maximize savings. Income qualified properties with three or more apartments can receive Pepco's cash incentives for energy-saving products installed throughout the property, including common areas and inside residents' units.

For the full blog post, click here.


Green Electricity To Become World’s Largest Power Source in Five Years, Displacing Coal


Global renewable electricity installation will reach a record this year, according to the International Energy Agency. The IEA report said roughly 90% of new electricity generation in 2020 will be renewable, with just 10% powered by gas and coal. The trend puts green electricity on track to become the largest power source in 2025, displacing coal, which has dominated globally for the past 50 years.

By 2025, renewables are expected to supply one-third of the world’s electricity. “Renewable power is defying the difficulties caused by the pandemic, showing robust growth while others fuels struggle,” said Fatih Birol, the IEA’s executive director.

For the full story, click here.


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ICAST's Kimberly Bridgers Organizes Successful Food Drive for Holiday Season


ICAST's very own Kimberly Bridgers partnered up with  the local Action Center in late November to organize a food drive. After delivering them a successful haul, she decided to not only team up with the action center, but also There with Care to create a sock and cereal drive. 

Kimberly's excitement about the projects is very easy to see. About the sock and cereal drive she said, "I brought a bin to my gym and they filled it up, so along with 2 filled bins from the office, a box of face masks, and few cash donations we did pretty good!  THANK YOU TO EVERYONE AT ICAST!!! Feels good to be a non-profit and to give back - doesn't it!!!! Yehaw!!!"


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US Central Bank Says Climate Poses Stability Risks


The US Federal Reserve for the first time called out climate change among risks enumerated in its biannual financial stability report, and warned about the potential for abrupt changes in asset values in response to a warming planet. "Acute hazards, such as storms, floods, or wildfires, may cause investors to update their perceptions of the value of real or financial assets suddenly," Fed Governor Lael Brainard said in comments attached to the report, released last week.

Such abrupt price changes from climate-related disasters could also create difficult-to-predict knock-on effects through financial markets, the report said, particularly because not enough is understood, or disclosed, about the true extent of exposures to climate risks.

For the full story, click here.

 


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