Two carbon management programs that aim to reduce carbon dioxide emissions from electricity generation and certain industrial operations have received $2.52 billion in funding through the U.S. Department of Energy.
The Carbon Capture Large-Scale Pilots and Carbon Capture Demonstration Projects Program are designed to address the climate crisis and meet President Joe Biden’s “goal of a net-zero emissions economy by 2050,” a news release said.
“Drastically cutting emissions across our economy through next-generation carbon management technologies is a critical component of President Biden’s strategy to combat the climate crisis and achieve our ambitious clean energy goals,” U.S. Secretary of Energy Jennifer Granholm said in the release. “By focusing on some of the most challenging, carbon intensive sectors and heavy industrial processes, today’s investment will ensure America is on a path to reach net-zero emissions by 2050 and at the forefront of the global clean energy revolution.”
The objective is to encourage investments in innovative carbon capture systems, as well as carbon transport and storage technologies, to reduce CO2 emissions from electricity generation and difficult-to-decarbonize industrial processes, according to the release.
The funding opportunity through the Carbon Capture Large-Scale Pilots includes up to $820 million for up to 10 projects, the release said. The funding opportunity for the Carbon Capture Demonstration Projects Program includes up to $1.7 billion for approximately six projects.
The Office of Clean Energy Demonstrations, the Office of Fossil Energy and Carbon Management, plus the National Energy Technology Laboratory, manage the programs that speed up the deployment of carbon management technologies, the release reported. They achieve this by reducing the risks associated with these technologies and encouraging private sector investment through public-private cost share agreements.
