On October 15, the Electric Power Research Institute (EPRI) held Congressional briefings to educate lawmakers and staff on its research paper, titled "The Power to Reduce CO2 Emissions." The panel consisted of three principal speakers, each of whom was charged with addressing one aspect of carbon dioxide (CO2) reduction challenges.
David Nastro, from Morgan Stanley, discussed the financial implications of a large-scale CO2 reduction. The estimates for a long-term plan (2010-2050) will require significant financial investment, likely over $1 trillion. Michael Howard, Senior Vice President of EPRI, discussed the technical challenges involved with existing coal generation. He explained how pulverized coal plants are currently only 35% efficient, but a long-term CO2 reduction strategy would require an improvement to over 50% efficiency. John Tombari, of Schlumberger Carbon Services, explained the potential challenges for CO2 storage. He estimated that over 50 square miles of underground surface area will be required to store the CO2 emissions from a 500 Megawatt coal fired power plant.
The presentation was informative and showed the commitment of resources, time and effort that will be needed to address climate change reduction strategies. For a copy of the report go to: http://epri-reports.org/DiscussionPaper2007.pdf