Comparative Environmental, Economic, and Jobs Impacts in the USA of Renewable Energy Compared to Carbon Capture, Utilization, and Storage

Abstract

This paper assesses the relative economic and jobs benefits of retrofitting an 847 MW USA coal power plant with carbon capture, utilization, and storage (CCUS) technology compared to replacing the plant with renewable (RE) energy and battery storage. The research had two major objectives: 1) Estimate the relative environmental, economic, and jobs impacts of CCUS retrofit of the coal plant compared to its replacement by the RE scenario; 2) develop metrics that can be used to compare the jobs impacts of coal fueled power plants to those of renewable energy. The hypotheses tested are: 1) The RE option will reduce CO2 emissions more than the CCUS option. We reject this hypothesis: We found that the CCUS option will reduce CO2 emissions more than the RE option. 2) The RE option will generate greater economic benefits than the CCUS option. We reject this hypothesis: We found that the CCUS option will create greater economic and jobs benefits than the RE option. 3) The RE option will create more jobs per MW than the CCUS option. We reject this hypothesis: We found that the CCUS option will create more jobs per MW more than the RE option. We discuss the implications of these findings.