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  • Senate, House Introduce Crucial Legislation to Optimize 45Q Tax Credit for Carbon Capture Projects

    WASHINGTON, Dec. 8, 2020 – Yesterday, seven US senators introduced the 45Q Carbon Capture Utilization and Storage Tax Credit Amendments Act of 2020 to optimize the 45Q tax credit that supports carbon capture and storage deployment as a critical means for achieving a net-zero emissions US economy by mid-century. The Senate introduction comes on the heels of the Accelerating Carbon Capture and Extending Secure Storage through 45Q (ACCESS

  • CATF Statement on Release of IRS Guidance for 45Q Tax Credits for Carbon Capture Projects

    Kurt Waltzer, Managing Director, Clean Air Task Force, has issued the following statement: “CATF welcomes the long-awaited IRS guidance on 45Q tax credits. With it, CCS developers can move ahead on projects with certainty as to how the credits will be administered.  As the IPCC has noted, large scale deployment of CCS is necessary to […]

  • Do it right – the IRS shows why it pays to comply with storage standards

    Thanks to Senator Robert Menendez’s (D-NJ) persistent efforts, the IRS just provided him with details on how it is enforcing compliance with the 45Q tax credit for carbon capture, utilization and storage (CCUS). The IRS letter underscores the importance of transparency and appropriate oversight of geologic storage as a part of deploying this technology necessary […]

  • The Status of Carbon Capture Projects in the U.S. (And What They Need to Break Ground)

    In February 2018, the U.S. Congress passed the Bipartisan Budget Act, which included the expansion and extension of the 45Q tax credits for carbon capture utilization and storage (CCUS.) The updated incentive was designed to be much more effective in driving new CCUS projects and immediately generated private sector interest. Just a few months later, […]

  • 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.