The U.S Department of Energy announced approximately $6 billion in federal money will be used to ramp up decarbonization projects across the nation.
According to a March 8 DOE news release, this funding initiative is for high emitting industries like iron, steel, aluminum, cement and concrete. The Industrial Demonstrations Program is designed to help American manufactures gain a competitive edge in the global clean energy economy.
“Today’s announcement is yet another exciting step in the race to fully decarbonize our heavy industries, and will help drastically reduce harmful pollution while ensuring America’s manufacturing sector is strong and competitive,” U.S. Secretary of Energy Jennifer M. Granholm said in the release. “President Biden’s transformational investments in innovation and clean energy are supporting American industries as they create new economic opportunities across the country while leading the world in clean manufacturing technologies.”
The program will be supported through President Joe Biden’s Bipartisan Infrastructure Law and Inflation Reduction Act, the release reported. This is all part of Biden’s goal to have a net-zero economy by 2050.
The Office of Clean Energy Demonstrations, Office of Manufacturing and Energy Supply Chains and the Industrial Efficiency and Decarbonization Office will be overseeing the funding, according to the release. The DOE is covering up to 50% of the cost of the project, and is looking for other initial-stage commercial-scale projects from high-emitting industries.
The goal, the release said, is to use cross-cutting technologies that have potential to reduce carbon emissions domestically and globally.
In all, there will be $12 billion put toward reducing industrial emissions, according to the release. This includes $5.46 billion from the Inflation Reduction Act, $6 billion in a cost share through the private sector and $430 million from the Bipartisan Infrastructure Law.
Those interested will need to submit a Community Benefits Plan by April 21, and full applications are due Aug. 4, the release said.
