Jeffrey D. Brown, MBA | Stanford University
TITLE:Changes in Industrial and Power Sector Carbon Capture: Higher Incentives/Lower Costs
Relatively few industrial carbon capture or power sector carbon capture projects have been done in the U.S. in recent years for pollution control purposes. That is, carbon capture is widely used in industries such as natural gas processing and urea fertilizer manufacturing, where carbon capture is required for production purposes. Historically, widespread carbon capture is too expensive to be employed for the purpose of emissions reduction, in the absence of a regulatory emissions control regime. The seminar will cover the positive changes to feasibility that have been sparked by two changes:
- The tripling of tax incentives for carbon capture in the recent changes to Section 45Q of the U.S. tax code.
- Research that shows that a capture cost in a number of industries is far lower than figures that have been widely disseminated and often misinterpreted.
Jeff co-heads Brown Brothers Energy and Environment, LLC. B2E2’s main practice areas include consulting on: (i) carbon capture economics and policy and (ii) bio-energy and reduction of carbon emissions from tropical de-forestation. Clients/funders have included the Hewlett Foundation, the Clean Air Task Force, Great Plains Institute, The Nature Conservancy, and the UK government. Until 2016 Jeff was SVP for Finance & Strategy at Seattle clean energy firm Summit Power, developing wind, solar and carbon capture projects. Jeff retired as a Managing Director from Merrill Lynch in 2009 after 25 years of investment banking at Goldman Sachs and Merrill Lynch in New York, Hong Kong, and Seattle. Jeff has an MBA (“with distinction”) from Harvard Business School (1983) and graduated Magna cum Laude in Economics from Harvard College (1979).
Jeff is a Research Fellow at Stanford’s Steyer-Taylor Center for Energy Policy and Finance and was a lead author of “Making Green Energy Investments Blue Chip” (2017), examining worldwide funding constraints and policy barriers to financing green energy. From 2015 to 2019 Jeff co-instructed various courses on clean energy project financing and development and was a Lecturer at Stanford GSB and Stanford Law School. Also serving on the Technical Advisory Board of University of Wyoming’s Enhanced Oil Recovery Institute, he advises on the nexus between carbon capture projects and sequestration in oil fields.
Jeff’s Stanford research focuses on financing of carbon capture/sequestration and the efficient integration of base-load low-carbon generators with intermittent renewables. He has worked extensively over the years with the Carbon Capture Coalition and is presently leading a research effort on the integrated economics of carbon capture in connection with a National Petroleum Council study for the U.S. Department of Energy.