Significant opportunities to generate reliable electricity while capturing and sequestering carbon dioxide (CO2) from the atmosphere have emerged and can be implemented on a global scale. A larger system is made possible by the combination of four key technologies: biomass or fossil fuel power generation with carbon capture, direct air capture (DAC), energy storage and renewable energy. Taken together, these technologies can provide reliable power to the grid while generating substantial negative carbon emissions. In addition to scaling up renewables, this will help transition the hydrocarbon-based energy sector to a low-carbon economy. If implemented worldwide, this approach could reduce carbon emissions by billions of tons each year while creating more economic opportunities.