To reduce the impacts of climate change due to greenhouse gases, many countries and businesses are moving towards carbon-neutrality.
One of these moves is decarbonization and the other is the use of clean energy such as hydrogen and renewable energy.
Microsoft recently announced its commitment to become carbon negative by 2030. Microsoft also said that it will remove more carbon from the environment than it has ever emitted in the past by 2050
Here are some of the technical terms related to decarbonization and energy transition.
Binary Cycle Power Plant
Binary cycle power plant is a geothermal power plant that can operate at a lower temperature than flash power plants, leveraging organic Rankine cycle (ORC) turbine technology where subsurface fluids are used to heat a secondary fluid to drive a turbine. These plants prevent naturally occurring gas within subsurface working fluids to release into the atmosphere.
Carbon Footprint
Carbon footprint is the amount of carbon dioxide emissions created by a person or industry.
Carbon Tax
Carbon tax is tax paid by businesses and industries that produce carbon dioxide through their operations.
Carbon Neutrality
Carbon neutrality is a term used to describe the action of organizations, businesses, and individuals taking action to remove as much carbon dioxide from the atmosphere as each put into it.
The overall goal of carbon neutrality is to achieve a zero-carbon footprint. For example, a business may plant trees in different places around the world to offset the electricity the business uses. This practice is often called carbon offset or offsetting.
CCS – Carbon Capture and Storage
CCS is the process of capturing waste carbon dioxide usually from large sources such as a factory or power plant, transporting it to a storage site, and depositing it where it will not enter the atmosphere, usually a subsurface rock formation.
Currently, there are less than 20 coal plants that use CCS technology to capture the produced carbon dioxide.
Carbon Credits
Carbon Credits are sometimes known as Carbon Offset Credits or Carbon Certificates.
It is a tradable certificate that constitutes 1 ton of carbon dioxide that is reduced, protected, or removed from the atmosphere via offset projects such as afforestation, reforestation, carbon capture, carbon sequestration, etc.
Carbon credits represent tangible reductions in greenhouse gas emissions, earned by organizations and individuals actively investing in projects that offset their carbon footprint.
The certificate is usually issued by Regulatory Bodies or Carbon Registries.
By purchasing carbon credits, companies can showcase their commitment to sustainability and contribute to the creation of a healthier planet.
Its purpose is to reduce carbon emissions, protect existing carbon sinks, or remove carbon from the atmosphere.
Its impact on environmental uplift is low to high depending on the type and quality of the project.
Carbon-Neutral Fuels
Carbon-neutral fuel is a fuel that has no net greenhouse gas emissions or carbon footprint. An example is a synthetic fuel produced by hydrogenating the carbon dioxide captured directly from the air.
Carbon Negative Fuels
Carbon negative fuels are fuels that take more carbon out of the environment than it generates.
Direct Air Capture – DAC
Direct air capture or DAC is the process of capturing carbon dioxide directly from the air to produce a concentrated stream of CO2 for sequestration or utilization.
In terms of utilization, as an example, the CO2 is being used to drive out reservoir oil in many CO2 miscible EOR projects around the world. The captured CO2 can also be used to produce carbon-neutral fuels by hydrogenating it with hydrogen.
Energy Saving Certificates – ESC
Energy Saving Certificates are sometimes known as Energy Efficiency Certificates.
These certificates recognize organizations that have implemented energy-efficient practices and initiatives. Its purpose is to promote lower energy consumption,
ESC is a tradable certificate that represents a unit of measured and verified energy savings from energy efficiency activities. It is usually issued by Electricity regulatory bodies.
By reducing energy consumption with the use of energy-efficient technology and practices, and optimizing operations, businesses can earn these certificates, demonstrating their unwavering commitment to both environmental stewardship and cost savings.
Fuel Cells
Fuel cells are devices that convert the chemical energy of a fuel directly into electricity by electrochemical reactions. For example, hydrogen cars use fuel cells to convert the energy stored in the hydrogen into electrical energy for powering the car.
Green House Gases – GHG
Greenhouse gases are gases that cause the greenhouse effect on our planet. The most common types of greenhouse gases are CO2, carbon monoxide (CO), methane (CH4), water vapor (H2O), Nitrous oxide (N2O), and ozone (O3).
Hydrogen Economy
The hydrogen economy is a situation where hydrogen is used as the major carrier of energy.
Renewable Energy
Renewable energy is any naturally occurring, theoretically inexhaustible source of energy, as biomass, solar, wind, tidal, wave, and hydroelectric power, that is not derived from fossil or nuclear fuel.
Renewable Natual Gas
Renewable Natural Gas or RNG is produced by capturing methane emitted from the breakdown of organic wastes in landfills, wastewater and farms, and processing it into natural gas.
Net Zero Carbon Emission
Net zero carbon emission is a balance achieved when the amount of carbon that we emit is offset by the amount of carbon we remove from the atmosphere.
Renewable Energy Certificate – REC
Renewable Energy Certificates or RECs are tradable certificates that are issued when electricity is generated and supplied to the grid from a renewable energy source.
RECs are usually generated by electricity regulatory bodies.
Renewable Energy Certificates play an indispensable role in accelerating the transition to clean power sources. These certificates embody the environmental attributes linked to electricity generated from renewable resources, such as wind, solar, hydro, or geothermal power.
By investing in RECs, organizations can actively support the expansion of renewable energy projects, propelling the transformation towards a sustainable energy landscape.
This glossary is curated by Jamin Djuang, a published author of “The Story of Oil and Gas: How Oil and Gas Are Explored, Drilled and Produced” written for readers who have not seen an oil field.
