The Economic Benefits of Carbon Capture: Investment and Employment Estimates for Regional Carbon Capture Deployment Initiative States
Carbon capture technology is a viable strategy to move the industrial and power sectors towards decarbonization. Carbon capture is well positioned to tackle industrial combustion and process emissions from the production of materials, such as steel and cement. In the electric power sector, carbon capture provides a rare opportunity for fossil fuels to play a role in a decarbonized world.
The Great Plains Institute (GPI) commissioned Rhodium Group to conduct an independent, state-by-state analysis exploring the economic benefits associated with carbon capture retrofit opportunities in the US. GPI identified the facilities examined in this analysis as carbon capture projects with near- to intermediate-term feasibility. This report considers opportunities at existing plants across all industrial subsectors and the electric power sector. The direct economic benefits considered include private sector investment and employment opportunities associated with the construction and operation of carbon capture retrofits. The results show how individual states can play to their existing and unique strengths on their separate paths to decarbonization.
For this study, we focus on opportunities in 21 of the states participating in the Regional Carbon Capture Deployment Initiative. In forthcoming analysis, Rhodium will explore the economic benefits of carbon capture retrofits in the remaining lower-48 states.Read the Report