In 2026, the IRA will penalize companies for methane emissions at a rate of $900 a tonne. This rate will increase to $1,500 per tonne after two years. Billions could be raised in the process, but much more would need to be done to ensure the United States hits its net zero goals. This is where satellite companies come in.
With advances in satellite sensing and the IRA setting a two-year timeline for the Environmental Protection Agency to come up with an emissions monitoring and reporting structure, there are legitimate reasons for hope. Antoine Rostand, president and founder of the energy and environmental analysis company Kayrros, agrees. Kayrros also uses satellites to detect methane emissions and I can personally say that the company’s work has been essential to my own emissions reporting.
“Methane is increasingly recognized for the threat it poses to the environment. It has more than 80 times the warming power of carbon dioxide in the first 20 years after it enters the atmosphere and is one of the most pressing targets for emission reductions,” Rostand said in a statement. , adding that fines are only part of the fight. the climate crisis.
“To safeguard their future, industry leaders and regulators will need to embrace new technologies to reduce risk in energy portfolios and provide a degree of emissions transparency that enables companies to comply with regulations quickly and efficiently. responsibly,” Rostand said. “Fines are seen as a nasty medical remedy, as companies need to start adopting preventative measures to manage and assess their methane emissions.”