Distributed batteries are having a big moment. On one hand, companies like Base Power and Tesla have leaned into large residential batteries that export power back to the grid, but need permits and inspections to operate. At the same time, however, a new category has emerged: small, "plug-in" batteries that don’t require an electrician or complex installation, let alone a permit. 

In this episode, Shayle talks to James McGinniss, co-founder and CEO of David Energy (yes, the biblical reference is intentional). David Energy is deploying these nimble, permissionless systems today for both residential customers and small businesses, and James argues that this approach could usher in a new era of massive scale and affordability for distributed energy resources.

Shayle and James cover topics like:

Why James prefers the term "plug-in" over "permissionless," and what falls into this bucket, from balcony solar to battery-enabled appliances

The murky regulatory landscape around micro-DERs

How plug-in systems can effectively drive soft costs (permitting, labor, customer acquisition) down to nearly zero

How high energy prices in Germany drove the adoption of 4 million plug-in systems in just a few years

The appeal for small businesses: how shaving just a few kilowatts of peak demand can generate significant savings for commercial customers in markets like New York

Future form factors, including batteries integrated directly into cooktops, heat pumps, and other household appliances 

Resources

Catalyst: How Base Power plans to use its fresh $1B

Catalyst: The new wave of DERs

Catalyst: Is now the time for DERs to scale?

Latitude Media: Can VPPs unlock grid capacity for data centers? 

Latitude Media: How do we turn small-scale, distributed energy into a multi-trillion dollar sector?

Credits: Hosted by Shayle Kann. Produced and edited by Max Savage Levenson. Original music and engineering by Sean Marquand. Stephen Lacey is our executive editor.

Catalyst is brought to you by Uplight. Uplight activates energy customers and their connected devices to generate, shift, and save energy—improving grid resilience and energy affordability while accelerating decarbonization. Learn how Uplight is helping utilities unlock flexible load at scale at uplight.com. 

Catalyst is brought to you by Antenna Group, the public relations and strategic marketing agency of choice for climate, energy, and infrastructure leaders. If you're a startup, investor, or global corporation that's looking to tell your climate story, demonstrate your impact, or accelerate your growth, Antenna Group's team of industry insiders is ready to help. Learn more at antennagroup.com.

We are back for Part 2 of Shayle’s double header conversation with the veteran energy analyst Nat Bullard, dissecting his annual presentation on the state of decarbonization.

If you missed it, we recommend you go back and listen to Part 1, which was released last week.

In this episode, Shayle and Nat shift their focus from data centers to exploring other intriguing trends found in the data that Nat assembled—from the surprising resilience of clean energy stocks to the rising costs of solar installations in the US.

Shayle and Nat dig into more topics including:

Why the S&P Global Clean Energy Transition Index outperformed the S&P 500 and Nasdaq last year

The steep drop in U.S. energy startup investment—from $8 billion in 2022 to just over $2 billion in 2025—and why Shayle thinks 2026 will see a massive rebound

The impacts of an enormous oversupply of oil

China’s skyrocketing share of global vehicle production

The remarkable pace of residential battery storage adoption in Australia

Resources

Nat Bullard’s full 2026 presentation

Catalyst: 2026 trends: Gas turbines, Texas’ load queue, and China electrifies

Catalyst: 2025 trends: aerosols, oil demand, and carbon removal

Catalyst: More 2025 trends: DeepSeek, plug-in hybrids, and curtailment

Latitude: The year resiliency investment began to go mainstream 
Credits: Hosted by Shayle Kann. Produced and edited by Max Savage Levenson. Original music and engineering by Sean Marquand. Stephen Lacey is our executive editor.

Catalyst is brought to you by Uplight. Uplight activates energy customers and their connected devices to generate, shift, and save energy—improving grid resilience and energy affordability while accelerating decarbonization. Learn how Uplight is helping utilities unlock flexible load at scale at uplight.com. 

Catalyst is brought to you by Antenna Group, the public relations and strategic marketing agency of choice for climate, energy, and infrastructure leaders. If you're a startup, investor, or global corporation that's looking to tell your climate story, demonstrate your impact, or accelerate your growth, Antenna Group's team of industry insiders is ready to help. Learn more at antennagroup.com.

In 2024, Tom Burton described the clean energy transition as entering its “third inning” — a phase defined by execution and scale. A year later, the game looks very different.

In this episode, produced in partnership with Mintz, Stephen Lacey sits down with Burton to revisit that framework and assess the state of play for U.S. energy infrastructure heading into 2026. 

Burton, who chairs Mintz’s sustainable energy and infrastructure practice, brings nearly 3 decades of experience advising developers, investors, and operators across clean energy and digital infrastructure.

They begin with the immediate market picture: a surge of renewable projects racing to put steel in the ground under existing tax rules, followed by a thinning pipeline. Burton explains why 2027 and 2028 could mark a slowdown in new deployments, even as demand continues to rise.

From there, the conversation turns to politics. Federal hostility toward clean energy, shifting tax credit structures, foreign sourcing rules, and the weaponization of permitting have introduced new layers of risk. Deals are harder to close, financing is more complex, and even strong projects are feeling the strain.

Burton unpacks what this environment means for developers, including who’s most exposed to the current shakeout, what separates resilient companies from struggling ones, and why permitting uncertainty may now be a bigger threat than tax policy itself.

The episode also explores one of the defining forces reshaping the energy sector: the rapid expansion of digital infrastructure. Burton explains how power availability, interconnection, and long-term grid planning are now central to dealmaking.

The energy transition hasn’t stopped, says Burton. But it has entered a rain delay — and the companies that adapt during the pause will be the ones still standing when play resumes.

These conversations were recorded at the Mintz Energy Transition Summit. Mintz has been at the frontlines of the energy and sustainability revolution since the start. For finance, policy, and market insights from the Mintz team, sign up for their newsletter.

It’s a new year, which means the veteran energy analyst Nat Bullard has dropped another annual, data-rich presentation on the state of energy and decarbonization.

And per what has become tradition, Nat is back on Catalyst – for the fourth time – to discuss some of Shayle’s favorite slides, cherry-picked from the 200-page deck. 

In part one of their two-part conversation, they cover topics like:

The significance of China’s rapid electrification

Why the proportion of GDP spent on electricity has remained flat while oil has proven volatile

The massive backlog and rising capital costs for gas turbines

How current tech CapEx compares to past large-scale endeavors like the Manhattan Project and broadband build-out

The extraordinary explosion of large load interconnection requests in Texas

The divergence in load forecasting between grid operators and transmission providers

Global drivers of electricity demand growth beyond data centers

Resources

Nat Bullard's 2026 presentation deck

Catalyst: 2025 trends: aerosols, oil demand, and carbon removal

Catalyst: 2024 trends: batteries, transferable tax credits, and the cost of capital

Credits: Hosted by Shayle Kann. Produced and edited by Max Savage Levenson. Original music and engineering by Sean Marquand. Stephen Lacey is our executive editor.

Catalyst is brought to you by Uplight. Uplight activates energy customers and their connected devices to generate, shift, and save energy—improving grid resilience and energy affordability while accelerating decarbonization. Learn how Uplight is helping utilities unlock flexible load at scale at uplight.com. 
Catalyst is brought to you by Antenna Group, the public relations and strategic marketing agency of choice for climate, energy, and infrastructure leaders. If you're a startup, investor, or global corporation that's looking to tell your climate story, demonstrate your impact, or accelerate your growth, Antenna Group's team of industry insiders is ready to help. Learn more at antennagroup.com.

For “deep tech” or industrial tech investors, a captivating idea on paper doesn’t always translate into a sustainable or viable business. Even a remarkable technological breakthrough isn’t guaranteed to survive the long sales cycles of the industrial world.

So which companies are worth the investment?

Ian Rountree, founder and partner at the venture firm Cantos, wrote a bare-bones thesis on X that offers guidance on this question. In it, Rountree lays out a stark list of the companies he invests in—and the ones he passes on.

In this episode, Shayle and Ian unpack his post and explore how it applies to the current landscape of hardware and industrial startups. They cover topics like:

Why selling technology to large incumbents like automakers or utilities can be a death sentence for startups

The pitfalls of "commercializing science" 

Why capital risk to sell an end-product can be better business than licensing technology

Why "weird" companies—"N of 1" startups—can generate huge amounts of talent and capital

Why selling commodities (like electrons or minerals) can actually be a safer bet than entering a new market

Real-world examples of full-stack success in the mining industry, including Earth AI and KoBold Metals

Latitude: Earth AI’s play in the hunt for critical minerals

Catalyst: Calibrating hype with Akshat Rathi

Catalyst: Climate tech startups need strong techno-economic analysis

Open Circuit: Pain, resilience, and bargain hunting for climate tech investors

Credits: Hosted by Shayle Kann. Produced and edited by Max Savage Levenson. Original music and engineering by Sean Marquand. Stephen Lacey is our executive editor. 

Catalyst is brought to you by Uplight. Uplight activates energy customers and their connected devices to generate, shift, and save energy—improving grid resilience and energy affordability while accelerating decarbonization. Learn how Uplight is helping utilities unlock flexible load at scale at uplight.com. 

Catalyst is brought to you by Antenna Group, the public relations and strategic marketing agency of choice for climate, energy, and infrastructure leaders. If you're a startup, investor, or global corporation that's looking to tell your climate story, demonstrate your impact, or accelerate your growth, Antenna Group's team of industry insiders is ready to help. Learn more at antennagroup.com.

Weather forecasting drives billions of economic decisions — from grid operations to evacuation planning. Better forecasting could improve supply chain planning, disaster warnings, and renewable integration. The industry has decades of satellite observations and ground measurements, making it ripe for AI-driven advancements.

And it’s already happening. But how exactly does AI get used in weather forecasting, and how does it actually lead to improvements?

In this episode, Shayle talks to Peter Battaglia, senior director of research at Google DeepMind’s sustainability program, which launched a new AI-powered weather forecasting model in November 2025. They cover topics like:

Why precipitation is so much harder to predict than temperature 

How the weather industry works, with governments creating global models and private companies refining them for specific use cases

What AI models can see that traditional supercomputer simulations can’t

Novel sources of data like cell phones, door bells, and social media

Resources:

Latitude Media: Where are we on using AI to predict the weather?  

Latitude Media: Could AI-fueled weather forecasts boost renewable energy production?  

Catalyst: Specialized AI brains for physical industry  

Credits: Hosted by Shayle Kann. Produced and edited by Daniel Woldorff. Original music and engineering by Sean Marquand. Stephen Lacey is our executive editor. 

Catalyst is brought to you by Uplight. Uplight activates energy customers and their connected devices to generate, shift, and save energy—improving grid resilience and energy affordability while accelerating decarbonization. Learn how Uplight is helping utilities unlock flexible load at scale at uplight.com.

Catalyst is brought to you by Antenna Group, the public relations and strategic marketing agency of choice for climate, energy, and infrastructure leaders. If you're a startup, investor, or global corporation that's looking to tell your climate story, demonstrate your impact, or accelerate your growth, Antenna Group's team of industry insiders is ready to help. Learn more at antennagroup.com.

Demand for turbines is growing fast, but so are lead times — causing serious headaches for developers and even cancellations. In Texas, one of six cancelled projects cited “equipment procurement constraints” as the reasons for its withdrawal. 

Lead times are stretching to four years and sometimes more. Costs are climbing. So what’s behind the bottleneck?

In this episode, Shayle talks to Anthony Brough, founder and CEO of Dora Partners, a consulting firm focused on the turbine market. Shayle and Anthony cover topics like: 

Why previous boom-bust cycles in turbine manufacturing have left the industry skittish — and why Anthony says leaders are approaching this new peak with “guarded optimism”

The competing demands on the turbine supply chain, including from power, oil and gas, and aerospace industries

How lead times have ballooned to four years and, in some cases, even longer

Factors affecting the market beyond load growth, like renewables, storage, affordable gas, and coal retirements

How investment in tech innovation has raised turbine efficiency 

How the industry is preparing for hydrogen — if hydrogen scales up

Resources:

Latitude Media: Engie’s pulled project highlights the worsening economics of gas

Latitude Media: High costs, delays prompt withdrawal of five more Texas gas plants

Power Magazine: Gas Power's Boom Sparks a Turbine Supply Crunch

Marketplace: Will we have enough natural gas turbines to power AI data centers?

CTVC: 🌎 Gas turbine gridlock #236

Credits: Hosted by Shayle Kann. Produced and edited by Daniel Woldorff. Original music and engineering by Sean Marquand. Stephen Lacey is our executive editor.

Catalyst is brought to you by EnergyHub. EnergyHub helps utilities build next-generation virtual power plants that unlock reliable flexibility at every level of the grid. See how EnergyHub helps unlock the power of flexibility at scale, and deliver more value through cross-DER dispatch with their leading Edge DERMS platform, by visiting energyhub.com.

Catalyst is brought to you by Bloom Energy. AI data centers can’t wait years for grid power—and with Bloom Energy’s fuel cells, they don’t have to. Bloom Energy delivers affordable, always-on, ultra-reliable onsite power, built for chipmakers, hyperscalers, and data center leaders looking to power their operations at AI speed. Learn more by visiting BloomEnergy.com.

Catalyst is supported by Third Way. Third Way’s new PACE study surveyed over 200 clean energy professionals to pinpoint the non-cost barriers delaying clean energy deployment today and offers practical solutions to help get projects over the finish line. Read Third Way's full report, and learn more about their PACE initiative, at www.thirdway.org/pace.

Today virtually all AI compute takes place in centralized data centers, driving the demand for massive power infrastructure.

But as workloads shift from training to inference, and AI applications become more latency-sensitive (autonomous vehicles, anyone?), there‘s another pathway: migrating a portion of inference from centralized computing to the edge. Instead of a gigawatt-scale data center in a remote location, we might see a fleet of smaller data centers clustered around an urban core. Some inference might even shift to our devices. 

So how likely is a shift like this, and what would need to happen for it to substantially reshape AI power?

In this episode, Shayle talks to Dr. Ben Lee, a professor of electrical engineering and computer science at the University of Pennsylvania, as well as a visiting researcher at Google. Shayle and Ben cover topics like:

The three main categories of compute: hyperscale, edge, and on-device

Why training is unlikely to move from hyperscale

The low latency demands of new applications like autonomous vehicles

How generative AI is training us to tolerate longer latencies 

Why distributed inference doesn‘t face the same technical challenges as distributed training

Why consumer devices may limit model capability 

Resources:

ACM SIGMETRICS Performance Evaluation Review: A Case Study of Environmental Footprints for Generative AI Inference: Cloud versus Edge

Internet of Things and Cyber-Physical Systems: Edge AI: A survey

Credits: Hosted by Shayle Kann. Produced and edited by Daniel Woldorff. Original music and engineering by Sean Marquand. Stephen Lacey is our executive editor. 

Catalyst is brought to you by EnergyHub. EnergyHub helps utilities build next-generation virtual power plants that unlock reliable flexibility at every level of the grid. See how EnergyHub helps unlock the power of flexibility at scale, and deliver more value through cross-DER dispatch with their leading Edge DERMS platform, by visiting energyhub.com.

Catalyst is brought to you by Bloom Energy. AI data centers can’t wait years for grid power—and with Bloom Energy’s fuel cells, they don’t have to. Bloom Energy delivers affordable, always-on, ultra-reliable onsite power, built for chipmakers, hyperscalers, and data center leaders looking to power their operations at AI speed. Learn more by visiting⁠ ⁠⁠BloomEnergy.com⁠.

Catalyst is supported by Third Way. Third Way’s new PACE study surveyed over 200 clean energy professionals to pinpoint the non-cost barriers delaying clean energy deployment today and offers practical solutions to help get projects over the finish line. Read Third Way's full report, and learn more about their PACE initiative, at www.thirdway.org/pace.

Big construction projects in the U.S. are notoriously unpredictable, often finishing over budget and behind schedule. Part of the problem is the inherent complexity of these kinds of projects, like data centers and first-of-a-kind plants. But there’s another problem: the companies that actually build these projects — called EPC firms for engineering, procurement, and construction — often lack strong incentives to control costs or deliver on time. 

That’s the thesis behind Unlimited Industries, a new startup focused on using AI to develop multiple project designs upfront and reduce project risks. So what would it take to actually cut costs and shorten construction timelines?

In this episode, Shayle talks to Alex Modon, co-founder and CEO of Unlimited Industries. The company recently announced a $12 million fundraise as it emerged from stealth. Shayle and Alex cover topics like:

How EPC incentives and contract structures drive cost overruns

Why bespoke projects prevent learning and standardization

The role software and AI can play in design and risk reduction EPC

Managing risks – including geopolitics, contractor reliability, and supply chains

Resources:

Catalyst: FOAK tales

The Green Blueprint: Shortening the nuclear development cycle from decades to years  

Catalyst: The cost of nuclear  

Credits: Hosted by Shayle Kann. Produced and edited by Daniel Woldorff. Original music and engineering by Sean Marquand. Stephen Lacey is our executive editor.

Catalyst is brought to you by EnergyHub. EnergyHub helps utilities build next-generation virtual power plants that unlock reliable flexibility at every level of the grid. See how EnergyHub helps unlock the power of flexibility at scale, and deliver more value through cross-DER dispatch with their leading Edge DERMS platform, by visiting energyhub.com.

Catalyst is brought to you by Bloom Energy. AI data centers can’t wait years for grid power—and with Bloom Energy’s fuel cells, they don’t have to. Bloom Energy delivers affordable, always-on, ultra-reliable onsite power, built for chipmakers, hyperscalers, and data center leaders looking to power their operations at AI speed. Learn more by visiting BloomEnergy.com.

The bottleneck holding back AI is a scarcity of power, or so goes the story. That may be true — and plenty of reporting backs it up — but different actors in the space face varying incentives to play up or play down that narrative. 

So what incentives are at play, and how do they shape each player's story?

In this episode, Shayle talks to Shanu Mathew, senior vice president and portfolio manager-analyst for U.S, sustainable equity at Lazard. Last month on X, he posted a breakdown of the actors — including hyperscalers, chip makers, utilities, and others – and how the different incentives they face shape how they talk about energy and AI. They cover topics like:

Hyperscalers’ mixed incentives: the benefits of building their own capacity vs encouraging others to overbuild

Why equipment makers, chipmakers, and land developers benefit from talking up the bottleneck to boost demand for their services

How independent power producers and gas players benefit from high prices

How the power-bottleneck narrative has shifted over time

Resources:

Latitude Media: ERCOT’s large load queue has nearly quadrupled in a single year  

Latitude Media: The power bottleneck is changing data center financing

Latitude Media: Early-stage data centers are driving up US power demand forecasts  

Credits: Hosted by Shayle Kann. Produced and edited by Daniel Woldorff. Original music and engineering by Sean Marquand. Stephen Lacey is our executive editor. 

Catalyst is brought to you by EnergyHub. EnergyHub helps utilities build next-generation virtual power plants that unlock reliable flexibility at every level of the grid. See how EnergyHub helps unlock the power of flexibility at scale, and deliver more value through cross-DER dispatch with their leading Edge DERMS platform, by visiting energyhub.com.

Catalyst is brought to you by Bloom Energy. AI data centers can’t wait years for grid power—and with Bloom Energy’s fuel cells, they don’t have to. Bloom Energy delivers affordable, always-on, ultra-reliable onsite power, built for chipmakers, hyperscalers, and data center leaders looking to power their operations at AI speed. Learn more by visiting BloomEnergy.com.

Catalyst is supported by Third Way. Third Way’s new PACE study surveyed over 200 clean energy professionals to pinpoint the non-cost barriers delaying clean energy deployment today and offers practical solutions to help get projects over the finish line. Read Third Way's full report, and learn more about their PACE initiative, at ⁠www.thirdway.org/pace⁠.