Did COVID-19 impact GHG emissions?

A world in lockdown has affected the global energy demand. Technology, policy, and consumer preferences affect how the world uses energy. Coincident with the worldwide response to the COVID-19 pandemic, global energy demand has shifted to focus on renewables. In 2020, renewables were the only energy sources that grew, compared to oil, coal, and natural gas. Further, the International Energy Agency estimated that the renewables energy use grew by 3% and low-carbon sources were 6% ahead of coal. As demand for renewables grew, so did the interest in reducing greenhouse gas (GHG) emissions and in carbon capture, utilization, and storage (CCUS) to reduce carbon emissions.  

Carbon dioxide (CO2) emissions related to energy decreased by 11% in the United States in 2020, based on the U.S. Energy Information Administration’s Monthly Energy Review. This trend was driven by the effects of COVID-19 and related restrictions. According to the review, U.S. energy-related CO2 emissions decreased in every end-use sector for the first time since 2012. As demand increases post-COVID-19, both renewables and CCUS must grow in order to continue the trend of CO2 emission reductions.

Lummus Consultants is now playing a key role in the development and financing of new CCUS and renewables projects. Carbon capture and storage is the separation, entrapment, and sequestration of CO2 that would otherwise be emitted to the atmosphere. Despite its slow rise, CCUS is now in a stronger position to contribute to economic recoveries and curtail global CO2 emissions. Many companies that rely on the utilization of fossil fuels as a key part of their business have begun investing in and committing to GHG emissions reductions. A benefit of such investment is the risk reduction to future carbon regulation.

Lummus Consultants has supported clients as they evaluate strategies and programs to reduce their CO2 emissions. Our capabilities include feasibility studies, CO2 capture technology review, performance and cost evaluation of CO2 capture technologies, CO2 pipeline evaluation, and evaluation of storage or use of CO2. We understand the technical risks associated with newly commercialized and evolving technologies, including hydrogen, solar, wind and energy storage. Look for upcoming articles on these topics.

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