The 45Q tax credit pays up to $85 per ton of carbon dioxide stored requires that qualified projects commence construction by the end of 2032 and allows the taxpayer to claim the credit for 12 years once a project is placed in service. However, for some industries, the 45Q tax credit will not be enough to make carbon capture and storage economic for many individual facilities. The most compelling financial incentive for industry to implement carbon capture and storage is the 45Q tax credit. Carbon dioxide equivalent is used to measure and compare emissions from greenhouse gases. The request for information is focused on 11 industries: petrochemical, ammonia, aluminum, iron-steel, refining, soda ash, lime, pulp and paper, cement, glass, and LNG, with carbon dioxide equivalent emissions of 479 million tonnes/year in the United States and 9,487 million tonnes per year globally (Table 1). The information being sought is intended to assist DOE in the planning of priorities and initiatives to catalyze the development, demonstration, and deployment of carbon capture, utilization, and storage for industrial decarbonization. Through the request for information, the Office of Fossil Energy and Carbon Management seeks input from key partners (domestic and international) on what is needed to accelerate deployment of carbon capture, use, and storage for industrial systems to support the energy transition, eliminate greenhouse gas emissions, produce clean energy, create well-paying union jobs, and enable a net-zero carbon emissions economy by 2050, all while prioritizing environmental equity and support for underserved communities. Department of Energy’s (DOE) Office of Fossil Energy and Carbon Management released a Request for Information: Industrial Deployment and Demonstration Opportunities for Carbon Capture Technologies that closes on April 1, 2024.
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