AUDIE CORNISH, HOST:
Now to Wyoming. It's the biggest coal producer in the country. Right now it's hosting an international competition to jumpstart development of carbon capture technology. Many experts say carbon capture technology is necessary to tackle global warming, but some worry it could come too late. Wyoming Public Radio's Cooper McKim reports.
COOPER MCKIM, BYLINE: It's a bitterly cold and overcast day outside of Gillette, Wyo., the coal capital of the U.S. Four of five finalists of the Carbon XPRIZE competition huddle together on an empty gravel lot next to a massive coal plant, checking out where they will soon receive carbon dioxide piped out of the plant.
JASON SALFI: This is it. Yep, this is it. This is where they take the flue gas.
MCKIM: This lot will soon be full of mini industrial plants used to transform carbon dioxide into valuable commercial products. Jason Salfi is the CEO of Dimensional Energy, one of the finalists competing for $7 1/2 million. He scopes out where to set up shop.
SALFI: We'd be best probably over in there.
SALFI: We're looking for the maximum solar resource.
MCKIM: Salfi wants to combine solar energy with carbon dioxide.
SALFI: And out the other side, we'll be producing high-purity carbon monoxide.
MCKIM: That could be used for, say, greener fuel alternatives. Other finalists are using CO2 to create cement, plastics and adhesives. During the competition, each will work to scale up their technology and demonstrate its potential.
MARCIUS EXTAVOUR: This isn't regular, everyday engineering project.
MCKIM: That's Marcius Extavour, who runs the Carbon XPRIZE competition. He says it's about changing the narrative around carbon dioxide.
EXTAVOUR: And we know carbon dioxide, it's causing a big problem. It's driving climate change. And if we don't do something about it, we're in for a more and more serious future.
MCKIM: Moving our energy sources away from fossil fuels to renewables is the most common go-to mitigating climate change. But many experts say carbon capture is also a necessary step in keeping global temperatures within a livable range. But the technology needs to develop a lot faster than it is now. One scenario requires carbon capture annual rates to improve by 7,000 percent by 2040. Extavour has faith this competition will help move the industry forward.
EXTAVOUR: There is enough time, but we have to get cracking in a serious, serious way.
MCKIM: The federal government seems to agree. The U.S. Department of Energy has already invested billions of dollars in the technology. Last year, Congress adopted a tax credit to stimulate carbon capture projects. It's expected to trigger a billion dollars of new investment in six years. Wyoming wants in, too. Governor Mark Gordon says the state is ready to be America's Carbon Valley.
MARK GORDON: No one has done the work that we have - the policy framework. So we're really poised to be the nation's leader in this technology.
MCKIM: Gordon says a thriving carbon capture industry doesn't just help emissions; it prolongs coal's life. Wyoming provides 40 percent of the country's coal, and it's a top 5 revenue source for the state.
GORDON: It seems incredibly important at this stage that we are invested in trying to revitalize coal assets that we have - give them new life, given a new purpose.
MCKIM: But time is running out. Coal has become increasingly uneconomic, and coal plants are shutting down across the country. Right now, adding carbon capture to the average coal plant would triple the cost of electricity. That's according to Dennis Wamsted, an editor with the Institute for Energy Economics & Financial Analysis.
DENNIS WAMSTED: In my opinion, perhaps the race is already over.
MCKIM: Not so, says XPRIZE director Extavour.
EXTAVOUR: The race is on, and it's a pressure cooker now.
MCKIM: Finalists will begin to demonstrate their technology right here later this year with judges choosing a winner in June of 2020. For NPR News, I'm Cooper McKim in Gillette, Wyo.
NPR transcripts are created on a rush deadline by Verb8tm, Inc., an NPR contractor, and produced using a proprietary transcription process developed with NPR. This text may not be in its final form and may be updated or revised in the future. Accuracy and availability may vary. The authoritative record of NPR’s programming is the audio record.