When used to generate electricity, natural gas produces half the CO2 emissions of coal. In recent years, the use of natural gas by electricity-generating plants has increased greatly, and today power sector CO2 emission levels are at their lowest levels in nearly 30 years. The U.S. Energy Information Administration reported that switching to natural gas accounted for almost two-thirds of the CO2 emission reductions from 2006 to 2014.
The environmental benefits associated with natural gas go well beyond CO2 reductions. Greater use of natural gas in power generation will also reduce NOx, SO2, PM, acid gasses, Hg and non-Hg heavy metal emissions.
A rise in renewable generation is another way power is becoming cleaner. These carbon-free technologies are an important part of our energy future, but most sources can’t produce energy 24 hours a day. For example, solar panels can only generate electricity when the sun is shining.
Natural gas can act as a stable back-up, providing power when renewables cannot. By quickly ramping up and down production to match the changing output from these emissions-free sources, natural gas has asserted itself as a key ally in bringing more renewables online. The benefits of this partnership are demonstrated in a 2016 study by the National Bureau of Economic Research, which found that for every 1% increase in natural gas’ share of electricity generation, there was a .88% increase in long-term renewable capacity.
Principal Solar’s E-3 Petroleum operating subsidiary corporation houses the company’s investments and acquisitions in oil and gas producing properties, which are located primarily in Texas and Oklahoma.
E-3 has partnered with experienced oil & gas services and equipment provider Double-H Services to manage the rehabilitation and operations of the wells on these properties.
Click here to learn more about E-3.