DOE Announces $251 Million in Funding for Carbon Dioxide Transport and Storage Infrastructure Support
May 17, 2023 | News
The following statement may be attributed to Jessie Stolark, Executive Director of the Carbon Capture Coalition:
“The funding announced by the Department of Energy today, as part of the Bipartisan Infrastructure Law, will further boost necessary development and deployment of carbon management technologies. The U.S. has abundant, well characterized carbon storage capacity that can safely and permanently store billions of tons of carbon dioxide (CO2) emissions, but currently lacks the necessary infrastructure and capture facilities to fully utilize this potential. Deploying the safe and permanent geologic storage of CO2 at scale is necessary to meet midcentury climate targets and today’s funding announcement wisely focuses on those projects that can store at least 50 million metric tons of CO2.
“These programs and funding made possible by the Bipartisan Infrastructure Law are critical to demonstrating carbon management technologies at commercial scale and ensuring that we can both meet our midcentury emissions reduction goals and ensure the long-term viability of key domestic industries, all while safeguarding high-wage jobs that sustain families and regions. The economic and environmental benefits of these projects can help affected communities as well. Notably, they will lower harmful air pollutants that are regulated by the EPA and known to cause adverse health impacts, and require close collaboration with local communities.
“Thanks to the Bipartisan Infrastructure Law, together with the 45Q enhancements enacted in the 117th Congress, the United States, for the first time, has the necessary policy portfolio needed to deploy these technologies economywide. We are pleased to see the continued release of funding to support the continued application of carbon management technologies that will help the U.S. meet its economic development, environmental protection and energy production goals while meeting greenhouse gas emissions reduction targets and supporting high-wage, family sustaining jobs in key domestic industries.”
Convened by the Great Plains Institute, the Carbon Capture Coalition is a nonpartisan collaboration of more than 100 companies, unions, conservation and environmental policy organizations, building federal policy support to enable economywide, commercial scale deployment of carbon management technologies. This includes carbon capture, removal, transport, utilization, and storage from industrial facilities, power plants, and ambient air.