Statement of Bob Perciasepe
President, Center for Climate and Energy Solutions
January 10, 2017
On the completion of the first retrofit of a U.S. coal-fired power plant to capture carbon dioxide emissions:
The completion of NRG’s Petra Nova carbon capture project in Texas, on schedule and under budget, is an example of innovative clean energy solutions.
There’s no cost-effective scenario for achieving the emission cuts we need globally – from both the power and industrial sectors -- without carbon capture.
As with wind and solar technologies, the costs of carbon capture will likely fall as more projects come online. Leadership in carbon capture technologies also gives the United States a first-mover advantage in a globally important market.
The Petra Nova project uses the captured CO2 for enhanced oil recovery, increasing production from already developed domestic oil fields while storing the carbon dioxide underground and creating U.S. jobs.
More research and development is needed in other ways to turn manmade carbon dioxide from a climate liability to a marketable commodity. NRG is leading the way here too, with its sponsorship of the $20 million NRG COSIA Carbon X-Prize, which has already identified promising ideas to re-use CO2 in building materials, fuels, paint and plastics.
There’s an opportunity in 2017 to build on bipartisan support in Congress, and support from both industry and labor, to incentivize investment in carbon capture projects and infrastructure. We congratulate NRG on their Petra Nova project, and look forward to continuing to work with lawmakers at the federal and state level on ways to encourage similar projects.
About C2ES: The Center for Climate and Energy Solutions (C2ES) is an independent, nonpartisan, nonprofit organization working to forge practical solutions to climate change. Our mission is to advance strong policy and action to reduce greenhouse gas emissions, promote clean energy, and strengthen resilience to climate impacts. Learn more at www.c2es.org.