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There’s been a lot of talk lately about the energy transition. With a national goal to reduce greenhouse gas emissions (GHG) by 2030; several companies are taking a bigger stance investing and discussing their environmental, social, governance (ESG) goals. One of the ways oil and gas companies plan to combat emissions is with electrification.
By Danielle Wills, Contributor | Posted November, 2022
Put simply, electrification is a process which replaces traditional energy sources such as fossil fuels (coal, oil, and natural gas) with technologies that use electricity as a power source. Switching from carbon-emitting energy sources to electricity can help with sustainability efforts such as air quality benefits and climate change. Also helping with sustainability efforts is the work we do here at Caterpillar Oil & Gas, pioneering ways to support our customers in meeting reduction targets and lower operational costs as they enhance their operations. Let’s explore the world of opportunity electrical energy sources can provide.
While humans have been harnessing energy from the earth for millennia, Caterpillar Oil & Gas has been providing solutions to aid in this for almost a century. Since our beginnings in the 1930’s as an equipment manufacturer for the oilfields, we have strived to help our partners harness various forms of energy with dedication and innovation. That remains true today as we, and the world, look for new ways to produce electricity.
There are three major categories of energy for electricity generation: fossil fuels, renewable energy, and nuclear energy. In the United States, fossil fuels are the largest source of energy used for electricity generation. Notably (the largest source), natural gas accounted for about 38% of U.S. electricity generation in 2021. Comparatively, about 20% of renewable energy sources were used in 2021 to generate electricity in the U.S., and nuclear energy accounted for 19% of electricity generation.
There are various renewable sources currently used to produce electricity, such as such as: solar power, wind, geothermal, hydropower, and biomass. Let’s dig a little deeper into the different types of renewable energy sources harnessed to generate electricity.
By creating technology to harness these energy sources, Caterpillar is continuously working to help customers address the energy transition and meet their ESG goals.
Learn about Caterpillar’s new Electrification & Advanced Power Solutions Division: https://communicate.cat.com/en/2022-stories/june/new-division-vp-announcement.html
(source: https://www.eia.gov/energyexplained/electricity/electricity-in-the-us.php)
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Learn MoreWhatever your ESG goals, you can count on us to help you reach them with cleaner, more efficient products and innovative solutions that balance economic and environmental sustainability.
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