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Last updateFri, 20 Jul 2018 5pm

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Could the U.S. Get Carbon Capture Back on Track?

The 2018 U.S. Budget Bill, passed by the House and Senate in mid-February, will shape funding for energy technologies for the next decade. Alongside the extension of renewable tax credits and credits for energy efficiency, nuclear and fuel cells, the bill contains a provision that could provide the first significant stimulus to the global fortunes of carbon capture for several years.

According to IEA energy technology analysts Simon Bennett and Tristan Stanley, the bill aims to stimulate investment in carbon capture by expanding incentives to companies that can use captured CO2 and reduce emissions as a result. It raises the existing so-called “45Q” tax credit for storing CO2 permanently underground from USD 22 today to USD 50 in 2026. 

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