Friday, November 22th, 2024 | 10:30 am – 11:50 am
Peter Bell, Strategic Business Planner, SMUD
Location: 1605 Tilia Street, Suite 100, Davis, CA
Watch Video
The transition to electric transportation presents a dual opportunity: reducing transportation costs and utilizing the increased electricity revenues to finance large-scale CO2 removal via mineralization.
Air-to-liquid mineralization has the theoretical potential to remove billions of tons of CO2 from the atmosphere annually. At a cost of approximately $100 per ton, achieving this scale would require $500 billion in annual CO2 drawdown demand by 2050. While no global financing mechanism currently exists at this level, the energy transition offers a solution by replacing expensive liquid fossil fuels with lower-cost electric power for transportation.
Wireless electric roads, which enable vehicles to charge continuously, promise even greater energy cost reductions compared to traditional stop-and-recharge systems. Utilities are uniquely positioned to deploy this infrastructure as a shared community asset. Revenue from electric road sales, especially if managed by not-for-profit utilities, can bypass shareholder dividends and instead fund critical CO2 drawdown initiatives. By integrating these strategies, the energy transition could simultaneously drive transportation cost savings and meaningful climate action.
Peter Bell serves as a Strategic Business Planner at SMUD, where he leads the development of behind-the-meter energy storage strategies and acts as a subject matter expert in energy storage and wireless power transfer.
An accomplished entrepreneur, Peter has extensive management experience across multiple countries and industries. He co-founded Renewable Fuel Products and spearheaded innovative ventures such as Distribution Drive, Inc., Flagship Systems, Inc., the Davis Funding Club, and the Urban Air Mobility Coalition for Affordable Housing.
Peter is best known for revolutionizing biodiesel distribution in the trucking industry by developing the iconic BioWillie brand in collaboration with country music legend Willie Nelson. This initiative successfully marketed biodiesel to independent truck drivers, creating a sustainable alternative in the transportation sector.
With his entrepreneurial spirit and strategic vision, Peter continues to advance transformative solutions in energy and sustainability.
