CATF Releases Modeling Study That Shows 45Q Carbon Capture & Storage Federal Tax Credit Can Have a Major Impact On CO2 Emissions Reductions Through 2030
Clean Air Task Force (CATF) today released a comprehensive report on the near-term implications of the federal tax credit (45Q) for carbon capture and storage (CCS) projects. The study found that, as a result of tax credit legislation known as 45Q, which was extended and expanded in early 2018, nearly 49 million metric tonnes of
CCS Could Reduce 49 Million Tonnes of CO2 Emissions From Coal & Gas Power Plants
This time last year, the U.S. Congress passed a bipartisan bill called the Bipartisan Budget Act, which expanded and extended the 45Q federal tax credits for carbon capture and storage (CCS.) Happy anniversary, 45Q! As we entered a new world of 45Q, CATF took on the task of quantifying the impact of 45Q in the […]
California’s CO2 Reduction Program Opens Doors to CCS
In September, California Air Resources Board voted on including CO2 reductions from Carbon Capture and Sequestration technologies under its Low Carbon Fuel Standard Program by incorporating a CCS Protocol into the regulation. Credits under the LCFS program stacked with the 45Q tax credit for CCS make CO2 reductions worth between approximately $135 and $150 per […]
Welcome to the New World of 45Q
The adoption by Congress of the FUTURE Act in February was a major step toward ensuring that carbon capture, utilization and storage (CCUS) can be an important tool in the kit for addressing global warming.
CATF Statement on Passage of 45Q Legislation
Early this morning, the U.S. Congress took a landmark step by passing one of the most important bills for reducing global warming pollution in the last two decades.
Two Carbon Capture Projects: A Deeper Look
Two carbon capture projects made headlines in 2017. The Petra Nova project at NRG’s Texas Parish coal-fired power plant began capturing CO2 in January. Petra Nova was built on time and on budget, and is on is on track to capture 1.6 million tons of CO2 each year. More recently, Southern Company announced that the Kemper plant in Mississippi would no longer burn coal, and would cease capturing the coal plant’s CO2 emissions. Now Kemper will burn natural gas without CO2 controls.
Petra Nova is the Latest Success for Carbon Capture
Carbon capture at the WA Parish Plant in Texas has begun, marking a turning point for the electric sector. Constructed on schedule and on budget, the project is poised to become the world’s largest power sector capture unit, removing 1.6 million tons per year of CO2. To keep global temperature rise below 2 degrees Celsius, […]