What the experts are saying about Renewable Natural Gas
RNG will be one of the fastest growing energy sectors with a CAGR of 44% through 2028 to $72 billion. That growth is driven by the nature of RNG, in removing methane emissions. Organic materials decompose over time, releasing what is called Bio-gas, primarily C02 and methane. While they are both global warming gases, methane has 50x the potential of CO2. Thus removing this Bio-gas methane is critical to the fight against climate change.
What are the organic materials generating this Bio-gas? Landfills, farm manure, food waste, agricultural residue, forestry residue just to name a few. They are all around us in rural and urban areas in an almost 60/40 split.
What states have the most potential for RNG? The top three are large populous states with a large agricultural production – Texas, California, and Illinois. The top 11 states account for just over 50%, but RNG opportunities exist in all 50 states.
“Follow the money” is common term, and applies to RNG. In recent months big Oil and Gas has been acquiring RNG leaders globally. BP acquired Archaea Energy, Shell acquired Nature Energy Biogas, TotalEnergies acquired Polska Grupa Biogazowa just to name a few.
Billions of dollars are sitting in Wall Street ESG funds, looking for green projects. Companies with a carbon footprint are looking for carbon offsets to achieve their ambitious net zero goals.
The Southeast RNG Conference on October 4, 2023 at the Hilton Airport – Charlotte in North Carolina will provide a comprehensive look at the market with speakers from many of the industries’ leading RNG developers.