Next* Magazine, Issue 4 - Chevron

Additionally, through Chevron Technology Ventures, Chevron’s venture capital arm,the company invests in emerging technologies and promising startups (see story on page 36).“We make sound investments in research and testing in real-world applications to help solvetomorrow’s energy challenges,” said King.Driving energy efficiencySome technologies are ready now. Chevron Energy Solutions Co. (CES) is one of the UnitedStates’ leading energy efficiency and renewable energy services companies and the nation’slargest developer of solar installations for education facilities. CES develops and builds sustainableenergy projects that increase energy efficiency and renewable power, reduce energycosts, and deliver reliable, high-quality energy. Consistent with Chevron’s renewable energy andenergy efficiency strategy, CES helps its customers, including Chevron, reduce their own energyuse and find ways to put renewable power to work.“Energy efficiency is the cheapest, cleanest and most plentiful source of ‘new’ energy wehave,” said Jim Davis, president of CES. Citing a McKinsey & Co. study, he noted that with apositive investment climate and a national commitment, the United States could reduce energyconsumption up to 23 percent by 2020. “That would save about $1.2 trillion and reduce greenhousegas emissions by an amount equal to that produced by all the nation’s cars and trucks.”Chevron is theworld’s largest producer ofgeothermalenergy$1 billion in energy savingsCES has developed hundreds of projects that in aggregate are reducing customers’ energy costsby nearly 30 percent on average, saving a total of more than $1 billion and reducing greenhousegas emissions by more than 3 million metric tons since 2000. Customers include U.S. cities,In the 1970s, two discoveries in the Philippinesled to the development of the Makiling-Banahaw(shown) and Tiwi geothermal plants, which supplypower to Luzon, the country’s most populous island.Chevron innovations helped make the Philippinesthe second-largest geothermal energy–producingcountry in the world, after the United States.PHOTO: ALEX BALUYOTNext* | 31