A joint venture by the Electric Power Research Institute and the Gas Technology Institute to support decarbonization of the power sector just topped nine figures in financial backing.
EPRI and GTI announced that their joint Low-Carbon Resources Initiative (LCRI) surpassed $100 million in funding from 33 global partners. U.S. utility Xcel Energy just joined as the LCRI’s 33rd sponsor.
“As industry and government take aggressive action to address climate change, LCRI is identifying and accelerating low-carbon options essential to a clean energy future,” said Neva Espinoza, EPRI Vice President of Energy Supply and Low-Carbon Resources. “Together EPRI and GTI are driving a historic effort, combining our unique technical expertise with deep experience from leading energy companies to make a net-zero future possible.”
Xcel Energy is one of many utilities and independent power producers vowing to reach net-zero carbon emission goals by 2050, a subject that will be key to POWERGEN+ online sessions on The Future of Electricity in June. Last month, Xcel announced it was closing its coal-fired Hayden Generating Station in Colorado by 2028.
LCRI will leverage the collaborative research models of EPRI and GTI to help develop carbon-reduction solutions for electricity and energy. This five-year initiative brings together industry stakeholders to accelerate development and demonstration of low- and zero-carbon energy technologies through transformative, clean energy research and development, according to the joint venture.
“The strong interest in technology solutions for low carbon resources is indicative of the challenge to meeting mid-century decarbonization goals,” said Mike Rutkowski, GTI Senior Vice President of Research & Technology Development. “We feel the LCRI will provide its sponsors with a means for the scale, leverage, and collaboration needed to address this global challenge.”
More than 20 U.S. utilities are joining in as sponsors for the LCRI effort. They include Alliant, Ameren, American Electric Power, Arizona Public Service, CenterPoint Energy, CPS (Consumers) Energy, ConEdison, Dominion Energy, Duke, Exelon, Lincoln Electric System, Los Angeles Department of Water and Power, National Grid, Nebraska Public Power District, NY Power Authority, Oglethorpe Power, Portland (Ore.) General Electric, PPL Corp., Salt River Project, Southern California Edison, Southern Co., Tennessee Valley Authority, WEC Energy Group and Xcel.
Among the power industry corporate sponsors include General Electric, Mitsubishi Power, National Fuel and NOMAC.
A public whitepaper on the LCRI, “An Introduction to Low-Carbon Fuels,” is available now for download, and a technology research plan will be unveiled in the second quarter of 2021 outlining the initiative’s research and development priorities.