A number of states have set 100-percent clean energy standards or targets for their electricity sectors, with many others openly considering such a goal. In its recently released A Road Map to Decarbonization in the Midcontinent: Electricity Sector, the Midcontinent Power Sector Collaborative (which is convened by the Great Plains Institute) suggests that these 100-percent targets are achievable by 2050 with currently demonstrated technologies. The road map also supports a mid-century strategy that remains open to a mix of very low-carbon and carbon-free resources, including carbon capture. Continue reading »
Leaders and stakeholders who are catalyzing carbon capture, storage, utilization, and removal efforts in the US recently gathered in Jackson Hole, Wyoming. Now in its second year, the CO2NNECT Conference, hosted by the Great Plains Institute (GPI), focused on what deliberate and strategic actions are needed for carbon capture, storage, removal, and utilization to reach its full potential as a national energy, jobs, and emissions reduction solution. Continue reading »
The Section 45Q tax credit for carbon capture projects provides a foundational policy for increasing deployment of carbon capture projects in the US. This primer was prepared to provide a succinct overview of this important tax credit, which the IRS currently seeks comment on as they prepare to develop implementation guidance.
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Direct air capture (DAC) technology generates a mix of excitement, skepticism, and optimism as first-mover projects come online, from Iceland to the US. The technology captures carbon dioxide (CO2) from ambient air, which is then used to create products of economic value or stored geologically, thereby removing CO2 from the atmosphere. Continue reading »
At this week’s CO2NNECT 2019 conference, the Carbon Capture Coalition (which is co-convened by GPI) released its consensus “Federal Policy Blueprint” to “articulate a comprehensive and ambitious federal policy agenda that can help achieve the goal of economywide carbon capture deployment.” Continue reading »
At a time when the rapid construction of new coal-fired power plants in China, India, and other emerging economies is contributing to significant global emissions growth, it is essential that the US continues to lead the way in commercial deployment of technologies to manage carbon emissions from existing power plants. Continue reading »
The clock is ticking. To qualify for the revamped 45Q carbon capture tax credit, a carbon capture project must begin construction by 2023—a very short time frame, especially for carbon capture projects that are capital intensive and have long lead times to develop, permit, and finance. Continue reading »
The Carbon Capture Coalition, which is co-convened by GPI, recently sent a letter asking members of Congress to support continued robust federal funding for research, development, and demonstration of carbon capture, utilization, storage, and removal technologies and applications as they consider appropriations for the FY 2020 Omnibus. The letter to congressional appropriators was sent on behalf of the more than 60 companies, unions, and energy and agricultural organizations in the Coalition together with their partners.
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Proper implementation of the 45Q tax credit is crucial to realizing the significant carbon emission reduction, energy and industrial production, and job creation benefits that will come from economy-wide deployment of carbon capture technology. Congress enacted the reformed and strengthened 45Q tax credit—which is for the geologic storage and beneficial use of carbon captured from industrial facilities and power plants—more than a year ago as part of the Bipartisan Budget Act of 2018.
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This week we’re marking the one-year anniversary since the passage of legislation to expand and reform a critical tax credit for carbon capture and storage projects, known as 45Q. The legislation was passed through the larger budget bill on February 9, 2018, and was originally introduced as the FUTURE Act. Continue reading »