⚡ NEW REPORT: We’re thrilled to share that the Carbon Business Development Council and the Carbon Business Council published a new report titled “Utilities and Carbon Removal: A Gigaton Scale Opportunity,” supported by Breakthrough Energy
💡 Utilities and the CDR industry are on the starting line of a decades-long collaboration. The report highlights how utilities can not only provide essential support for the carbon removal industry to grow, but also how removals offer substantial benefits to utilities, making them a smart investment. Beyond direct energy intersections, opportunities abound for utilities to integrate CDR into their assets and operations, which include extensive land management operations, construction projects with carbon storage in long-lived products, and operational budgets.
⚖️ The utility regulatory ecosystem may also hold several different benefits for early investments in CDR, recognizing the success and similarities with early utility investments in renewables and storage, utility project management and financing expertise, and the stakeholder-forward process.
💸 As utilities deepen engagement in carbon removal, the report shows how these economic and environmental benefits can translate to cost savings for ratepayers.
The report dives into four key threads where utilities and CDR can synergize to accelerate the path to #NetZero, exploring:
1️⃣ The role CDR could play on energy utilities’ path to net zero
2️⃣ How energy-intensive CDR can access low-cost, low-carbon energy
3️⃣ How and where CDR pathways can be integrated into utility assets and operations
4️⃣ How regulators might assess and weigh utility CDR investments
🤝 Partnerships between utilities and CDR developers are essential for success, requiring deeper engagement, expanded technical expertise, and collaborative policy development. Whether you’re a utility, CDR developer, or policymaker, this report offers insights and recommendations tailored to your role in the journey to net zero.
Nick Pappas and Jon Martindill of NP ENERGY and @Ben Rubin and Isabella Corpora served as the lead authors for this report.
Dive in here: https://lnkd.in/gBETtNKC
#CarbonRemoval #EnergyUtilities #NetZero #ClimateTech
Senior Partner (Head of Energy, Utilities and Natural Resources Practice) at Norman Broadbent Plc
2wBrilliant insights George thanks for sharing