Carbon Capture Provisions in the Inflation Reduction Act of 2022

The Inflation Reduction Act of 2022 (IRA) provides critical updates to the 45Q tax credit, which incentivizes the use of carbon capture and storage – a climate solution that the Intergovernmental Panel on Climate Change (IPCC) and International Energy Agency (IEA) have found is likely to play a vital role in efforts to address climate change.