Currently, Wyoming has over 3.2 GW of solar, wind, and storage capacity, which places it in the top half of states in terms of renewable energy generation. There is almost 840 MW of additional planned wind capacity in the works, which will power more than 89,000 Wyoming homes.
IRA tax credits that encourage investment in wind and solar will help reduce energy costs, as the costs of solar and wind power are projected to drop by 32% and 22%, respectively, over the next 30 years in Carbon County.
Clean power projects provide over $20 million in drought-proof land lease payments to farmers, ranchers, and other private landowners each year in Wyoming.
Wyoming’s ideal geologic formations offer the potential to store up to a trillion tons of carbon dioxide from industrial and biomass facilities, as well as carbon dioxide removed from the atmosphere via direct air capture. Facilities across the state, including in Carbon County, could potentially take advantage of the 45Q tax credit, which provides a credit for carbon captured at an industrial facility or through direct air capture projects.