first published week of: 05/08/2023
Federal funding gives U.S. carbon capture, utilization and storage policy parity to show it can compete with other clean energies, advocates and opponents agree.
New public and private funding and expected strong federal power plant emissions reduction standards have accelerated electricity sector investments in carbon capture, utilization and storage,’ or CCUS, projects but some worry it is good money thrown after bad.
CCUS separates carbon from a fossil fuel-burning power plant’s exhaust for geologic storage or for use in industrial and other applications, according to the Department of Energy. Fossil fuel industry giants like Calpine and Chevron are looking to take advantage of new federal tax credits and grant funding for CCUS to manage potentially high costs in meeting power plant performance requirements, including new rules, expected from EPA soon, on reducing greenhouse gas emissions from existing power plants.
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