Climate tech competitiveness: How can the United States raise its game?

Climate tech competitiveness: How can the United States raise its game?

Time Stamp: December 24, 2022 3:00 AM
Source Node: 1783888

A McKinsey study focusing on United States, with Texas as an example. Worth presenting here at CarbonCreditMarkets as Texas is known for being an oil rich state. And the article covers a transitions analysis, including very good graphs mapping Texas from the perspectives of wind speed, solar irradiance and geological CO2 sequestration potentials.

Achieving net-zero goals will require stepping up climate technology innovations. The United States can capture value and improve energy security by, for instance, establishing climate tech hubs where natural resources and industrial centers exist. A McKinsey team notes that parts of Texas, with established gas infrastructure and a wealth of renewables, could support hydrogen supplies to industries along the coast and could produce sustainable fuel for export and transportation.

The United States is well positioned to be globally competitive in next-generation climate technologies, since ongoing innovation is still an important differentiator. Carbon-capture-and-removal credits and next-generation electric vehicles (EV) batteries all hold significant promise. However, efforts to unlock the full potential value of these emerging climate technologies will probably require more than the pure ability to innovate.

Several other technologies are also on the pipeline: solar photovoltaic generation, on- and offshore wind generation, green steel, EV charging infrastructure, alternative proteins, short- mid- and long-duration energy storage, point source carbon capture, direct air capture, electrolizers and heat pumps.

The other requirements may include a complementary policy environment, intellectual-property (IP) protections, infrastructure, secure access to critical raw materials, and sufficient financial capital and pools of skilled labor.

Click on the image below to acces the full McKinsey article.

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