Colorado Energy Office Study Highlights Geothermal and CO2 Sequestration Potential in Northwestern Colorado
A study by the Colorado Energy Office highlights the geothermal and carbon dioxide sequestration potential in northwestern Colorado, identifying it as a key resource for advancing the state's energy goals. The region's unique hydrothermal field and suitable underground reservoirs could support technologies like natural gas with carbon capture and advanced nuclear reactors. The study also notes significant economic challenges, predicting over 2,000 job losses and $60 million in annual property tax revenue losses by 2030 due to coal plant closures, prompting the establishment of the Office of Just Transition to aid affected communities.
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The Colorado Energy Office released a study on December 19, titled "Exploring Advanced Energy Solutions for Rural Colorado," identifying geothermal technologies and carbon dioxide sequestration as key energy resources in northwestern Colorado. The region features the only identified hydrothermal field for geothermal development and underground reservoirs suitable for CO2 sequestration.
The study outlines the potential for advanced firm dispatchable energy technologies to support Colorado's energy goals by providing reliable electric capacity and aiding communities impacted by the energy transition. The analysis highlights the suitability of the region for various technologies, including natural gas with carbon capture, advanced nuclear reactors, and enhanced geothermal systems.
Key findings indicate significant economic impacts from the closure of coal plants, with projected annual property tax revenue losses of $60 million and job losses exceeding 2,000 by 2030. The Office of Just Transition was established in 2019 to support affected workers and communities.
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