Wyoming energy production occurs at the extractive end of the supply chain. As such Wyoming producers and state government are subject to wide swings in commodity energy prices. One way to mitigate these wide price swings is to develop ways to add value to energy resources in the state rather than letting that happen entirely beyond state borders. Examining novel ways to accomplish this value increase is worthy of study and discussion. The purpose of this initiative is to extend and add to the study of Hybrid Energy Systems performed jointly by the Idaho National Lab and the Wyoming Business Council as commissioned by the Wyoming Legislature. That study had a long-term horizon and looked at the macro economic benefits to Wyoming gross state product over several decades. In addition, the initiative will look at the business case for a Hybrid Energy Systems project resulting in the creation of a carbon conversion industry. In this case corporate profitability will be the focus rather than gross state product.
A detailed path forward of a staged Hybrid Energy System approach will be developed. This pathway will benefit from rigorous analysis and input by private sector interests who may ultimately join together to invest in such a project.
Governor’s Policy Office
Wyoming Business Council, UW School of Energy Resources, Next Generation Nuclear Plant Industry Alliance, Idaho National Laboratory