Posts tagged Investment

The facts: Europe outspends the U.S. on carbon capture

Some of the most advanced clean tech developments are happening in Europe, where the likelihood of impeding carbon regulation is playing a role in the European Union’s (EU) future power generation strategy. Moreover, increased energy demand and a historical aversion to nuclear energy are causing the EU to consider an old standby: coal.

In fact:

•According to a 2008 New York Times article, European countries are expected to put into operation about 50 coal-powered plants through 2013, which will be in use for the next five decades.

•Europe’s first coal plant that captures and stores carbon dioxide debuted in Spremberg, Germany last year. The EU plans to get an additional 10 to 15 carbon capture and storage (CCS) plants in operation by 2015. According to a 2008 article from the MIT Technology Review, the information gained from testing a 30-megawatt test plant will be used to scale up to a 300-to-500 megawatt demonstration plant set to go online by 2015—and up to a further 1,000-megawatt commercial plant between 2015 and 2020.

•Emerging Energy Research analysts estimate more than $20 billion will be spent on CCS projects in 2009 with the EU’s investment ranked number one globally at $11.6 billion, followed by the U.S. (at $6 billion).

The EU is currently testing new CCS technologies at a number of plants to help make the systems commercially viable as quickly as possible. Britain’s first large-scale CCS-equipped power plant—the Powerfuel-run Hatfield plant in Yorkshire is slated for construction for 2010 and will be operational by 2015. The plant may also receive funding from the EU.

It’s easy to get caught up in our own energy debates and challenges. But as the EU and other regions have consistently demonstrated, coal-generated electricity and emerging emissions-reducing technologies are playing an important role in meeting growing energy demands with domestic resources.

The facts: The power industry’s investment in clean coal technologies

One of the questions I’m most frequently asked about clean coal technologies is this: “How much does the coal industry spend on deploying the technologies it advocates?”

Answer: According to a report from Energy Ventures Analysis, Inc., the U.S. power industry has invested roughly $90 billion to deploy clean coal technologies to reduce emissions since 1990.

This huge expenditure has enabled today’s coal-based generating fleet to produce electricity that is 77 percent cleaner in terms of emissions currently regulated under existing Clean Air Act programs per unit of energy produced.

And our success with these technologies has set the stage for the next generation of clean coal projects.

In fact, the industry’s private investments, coupled with the government’s crucial contributions, have allowed for a myriad of CCS demonstration projects around the country—paving the way for commercial-scale CO2 removal and permanent storage.

Want to learn more about our commitment to a clean energy future? Read the study for yourself, and check out our clean coal technology map to learn about projects happening near you.

Video: A $90 Billion Investment and Truth in Advertising

Earlier this week, we told you about the $90 billion investment that the utility industry has invested in technology to reduce emissions.

Today, I sat down to talk a little bit about the study, and truth in advertising. Take a look: