Next* Magazine, Issue 4 - Chevron

Investing in aRenewableEnergy FutureChevron explores renewablesas a viable enterpriseChevron is focusing on biofuels made from rawmaterials, such as high-biomass sorghum, that do notmaterially affect food or feed supplies.Where oil refineries once stood in California and Wyoming, Chevron has beguntesting seven emerging photovoltaic solar technologies, and the company’s firstwind farm recently started churning out power for the local grid.Meanwhile at a Mississippi tree farm, a forest-products company, under aresearch joint venture with Chevron, grows switchgrass to advance second-generation biofuelsthat use cellulose instead of corn or other food crops. And in Indonesia and the Philippines,Chevron taps boiling brine from deep in the earth to generate more than 1,250 megawatts of electricityfor thousands of homes, making Chevron the world’s largest geothermal power producer.PHOTO: NANCY DUNHAMPromise and pragmatismRenewable energy technologies such as these are hailed as sustainable alternatives, full ofpromise to provide clean, new energy and cut carbon emissions. But because of major technicalhurdles—such as scalability, performance and costs—as well as market-based barriers, broaderadoption can’t happen overnight.So Chevron pursues a strategy to promote energy efficiency while exploring renewables as aviable enterprise, according to John McDonald, Chevron vice president and chief technology officer.World energy demand“The world is going to need every molecule and electron of energy from all sources,” saidMcDonald. “Our focus is on new sources that are feasible from a business standpoint, suchNext* | 29