CHALLENGES WITH ENERGY TRANSITION IN WYOMING, USA
Abstract - Wyoming is amid an energy transition. Wyoming’s economy has been dependent on coal production for decades, but coal production is now rapidly declining as the world tackles climate change. Wyoming is investing rapidly in renewable energy such as wind and solar and proposing new investments in nuclear energy. The University of Wyoming Center for Business and Economic Analysis (CBEA) is helping stakeholders understand the economic impact of new energy sources. The CBEA provides economic analysis for stakeholders across the energy industry as they attempt to navigate the changing energy landscape. In this paper, we highlight the various clients that have contracted with the CBEA for energy consulting. Projects include economic and environmental impacts of energy production related to coal, natural gas, hydrogen, nuclear, and wind. We also highlight projects in natural resource extraction, such as copper, gold, soda ash, and rare-earth elements. Economic impact analyses from the CBEA have helped new energy industries garner public and governmental support for investments in sources other than coal. Our projects show how these new energy industries can generate employment, output, and taxes for the state of Wyoming. CBEA projects have supported the emergence of new natural resource and energy industries in Wyoming and helped to grow and diversify the state economy. The projects also help Wyoming avoid the bust-and-boom nature of an economy that has relied on the production of coal for its livelihood.
Keywords - Energy Transition, Clean Energy