Innovations
We must take full advantage of all our tools and resources to grow our economy and prepare for the future. Innovative energy solutions can create jobs, bolster our economies, and strengthen our communities. Innovation, balanced solutions, and responsible treatment of our air, water and mineral resources, will power our economic growth for the long term.
Enter Energy Innovations
BIOFUELS
Biofuels play a key role in transportation fuels by way of their very low emissions and in providing market stability for U.S. corn and soybean production, which helps farmers and rural communities. They also reduce dependency on foreign oil and gasoline imports.
The U.S. produces more biofuels than any other nation. In fact, we produce more than half (50.4%) of all the world’s ethanol and 23.9% of the world’s biodiesel (according to the International Energy Agency).
Developments in sustainable aviation fuel (SAF) – utilizing ethanol and other bio feedstocks – are creating exciting new opportunities for U.S. biofuels in helping air travel and transport to reduce its carbon emissions. SAF may just be the beginning of innovations that create new markets for American-grown crops and U.S.-produced biofuels.
CARBON CAPTURE AND STORAGE
Carbon Capture and Storage (CCS) captures CO2 emissions from carbon-heavy industries and safely transports the CO2 through underground pipelines, in much the same way natural gas is transported in our communities today. The CO2 is then safely and permanently stored in geologic formations, thousands of feet below ground, away from air and freshwater.
The National Energy Technology Laboratory found that building out the CCS industry could create up to 1.8 million jobs with the Midwest being a prime spot for these new career opportunities.
HYDROGEN
Hydrogen can now be produced efficiently with low-to-no carbon emissions and has the power and versatility to be used in high-carbon-intensive processes like steelmaking, heavy industry, as well as in heavy equipment and vehicles that consume high volumes of traditional diesel fuel.
Whether Green H2 (from electrolysis with renewable energy and water), Pink H2 (from nuclear electrolysis) or Blue H2 (from natural gas and methane with carbon emissions captured), Hydrogen holds great promise as a fuel source that will strengthen American industry and make it globally competitive well into the future.
RENEWABLE ENERGY
Renewable energy – electricity generated by solar and wind installations – has seen tremendous growth in the U.S. and is poised for more. In 2000, 9.2% of U.S. electricity generation was from renewable sources. In 2022 it was 22.5% of all U.S. electricity generation. Renewables continue to grow with 70% of all new power generation in the U.S. coming from renewables.
Renewable energy also presents economic opportunities for landowners, schools, and roads. In 2022 wind projects alone contributed $2 billion in lease payments to landowners and tax payments to local and state governments. Solar projects contributed another $739 million in these payments.
