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Carbon Management - Pathways to Commercial Liftoff
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elementor-top-column elementor-element elementor-element-0bcfd67" data-id="0bcfd67" data-element_type="column"> <div class="elementor-widget-wrap elementor-element-populated"> <div class="elementor-element elementor-element-5b10165 elementor-widget elementor-widget-heading" data-id="5b10165" data-element_type="widget" data-widget_type="heading.default"> <div class="elementor-widget-container"> <h1 class="elementor-heading-title elementor-size-default"><em style="font-size:50%;">The pathway to:</em><br>Carbon Management<br>Commercial LiftOff</h1> </div> </div> </div> </div> </div> </section> <section class="elementor-section elementor-top-section elementor-element elementor-element-7347012 elementor-section-boxed elementor-section-height-default elementor-section-height-default" data-id="7347012" data-element_type="section" data-settings="{"background_background":"classic"}"> <div class="elementor-background-overlay"></div> <div class="elementor-container elementor-column-gap-no"> <div class="elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-455bb29" data-id="455bb29" data-element_type="column"> <div class="elementor-widget-wrap elementor-element-populated"> <section class="elementor-section elementor-inner-section elementor-element elementor-element-1dcc665 elementor-section-boxed elementor-section-height-default elementor-section-height-default" data-id="1dcc665" data-element_type="section"> <div class="elementor-container elementor-column-gap-no"> <div class="elementor-column elementor-col-100 elementor-inner-column elementor-element elementor-element-188ba28" data-id="188ba28" data-element_type="column"> <div class="elementor-widget-wrap elementor-element-populated"> <div class="elementor-element elementor-element-275cfa4 elementor-widget elementor-widget-text-editor" data-id="275cfa4" data-element_type="widget" data-widget_type="text-editor.default"> <div class="elementor-widget-container"> <style>/*! elementor - v3.21.0 - 08-05-2024 */ .elementor-widget-text-editor.elementor-drop-cap-view-stacked .elementor-drop-cap{background-color:#69727d;color:#fff}.elementor-widget-text-editor.elementor-drop-cap-view-framed .elementor-drop-cap{color:#69727d;border:3px solid;background-color:transparent}.elementor-widget-text-editor:not(.elementor-drop-cap-view-default) .elementor-drop-cap{margin-top:8px}.elementor-widget-text-editor:not(.elementor-drop-cap-view-default) .elementor-drop-cap-letter{width:1em;height:1em}.elementor-widget-text-editor .elementor-drop-cap{float:left;text-align:center;line-height:1;font-size:50px}.elementor-widget-text-editor .elementor-drop-cap-letter{display:inline-block}</style> <h2>Both carbon capture and carbon removal have the potential to eliminate hundreds of millions of tons of CO<sub>2</sub> per year.</h2> </div> </div> <div class="elementor-element elementor-element-dd56f7c elementor-widget elementor-widget-spacer" data-id="dd56f7c" data-element_type="widget" data-widget_type="spacer.default"> <div class="elementor-widget-container"> <style>/*! elementor - v3.21.0 - 08-05-2024 */ .elementor-column .elementor-spacer-inner{height:var(--spacer-size)}.e-con{--container-widget-width:100%}.e-con-inner>.elementor-widget-spacer,.e-con>.elementor-widget-spacer{width:var(--container-widget-width,var(--spacer-size));--align-self:var(--container-widget-align-self,initial);--flex-shrink:0}.e-con-inner>.elementor-widget-spacer>.elementor-widget-container,.e-con>.elementor-widget-spacer>.elementor-widget-container{height:100%;width:100%}.e-con-inner>.elementor-widget-spacer>.elementor-widget-container>.elementor-spacer,.e-con>.elementor-widget-spacer>.elementor-widget-container>.elementor-spacer{height:100%}.e-con-inner>.elementor-widget-spacer>.elementor-widget-container>.elementor-spacer>.elementor-spacer-inner,.e-con>.elementor-widget-spacer>.elementor-widget-container>.elementor-spacer>.elementor-spacer-inner{height:var(--container-widget-height,var(--spacer-size))}.e-con-inner>.elementor-widget-spacer.elementor-widget-empty,.e-con>.elementor-widget-spacer.elementor-widget-empty{position:relative;min-height:22px;min-width:22px}.e-con-inner>.elementor-widget-spacer.elementor-widget-empty .elementor-widget-empty-icon,.e-con>.elementor-widget-spacer.elementor-widget-empty .elementor-widget-empty-icon{position:absolute;top:0;bottom:0;left:0;right:0;margin:auto;padding:0;width:22px;height:22px}</style> <div class="elementor-spacer"> <div class="elementor-spacer-inner"></div> </div> </div> </div> <div class="elementor-element elementor-element-de624e4 elementor-widget elementor-widget-text-editor" data-id="de624e4" data-element_type="widget" data-widget_type="text-editor.default"> <div class="elementor-widget-container"> <p><strong style="font-style: inherit; color: var(--ast-global-color-3);">Modeling studies suggest reaching U.S. energy transition goals will require capturing and storing 400 to 1,800 million tonnes (MT) of carbon dioxide (CO<sub>2</sub>) annually by 2050</strong><span style="font-style: inherit; font-weight: inherit; color: var(--ast-global-color-3);">, through both point-source carbon capture, utilization, and storage (CCUS) and carbon dioxide removal (CDR).</span><span class="tooltip" style="font-style: inherit; font-weight: inherit; color: var(--ast-global-color-3);" data-text="Range based on studies summarized in Figure 2. Low-end encompassed by “2021 White House Pathways to Net-Zero GHG Emissions by 2050” report and high-end encompassed by Princeton’s “Net Zero America” study (2021)."><sup>1</sup> </span><span style="font-style: inherit; font-weight: inherit; color: var(--ast-global-color-3);"> Today, the U.S. has over 20 million tonnes per annum (MTPA) of carbon capture capacity, 1–5% of what could be needed by 2050.</span><span class="tooltip" style="font-style: inherit; font-weight: inherit; color: var(--ast-global-color-3);" data-text="Note: Any use of “tonnes” in this report refers to metric tonnes; references to MTPA refer to million tonnes per annum"><sup>2</sup></span><sup style="font-style: inherit; font-weight: inherit; color: var(--ast-global-color-3);">,</sup><span class="tooltip" style="font-style: inherit; font-weight: inherit; color: var(--ast-global-color-3);" data-text="IEA, “Carbon Capture, Utilisation and Storage” Retrieved from https://www.iea.org/reports/carbon-capture-utilisation-and-storage-2"><sup><a href="https://www.iea.org/reports/carbon-capture-utilisation-and-storage-2" target="_blank" rel="noopener">3</a></sup></span><span style="font-style: inherit; font-weight: inherit; color: var(--ast-global-color-3);"> This scale-up represents a massive investment opportunity of up to ~$100 billion by 2030 and $600 billion by 2050.</span></p><p><strong>America’s more than 20 MTPA of capture capacity already leads the world in carbon management, and the U.S. is an attractive policy and resource environment for further deployment.</strong> An increase in the value of the 45Q tax credit—a federal tax credit provided for stored or utilized CO<sub>2</sub>—has provided a greater incentive and more certainty to developers and investors and is likely to yield attractive returns for several types of projects.<span class="tooltip" data-text="Energy Futures Initiative (2023). Turning CCS projects in heavy industry & power into blue chip financial investments. Retrieved from https://energyfuturesinitiative.org/wp-content/uploads/sites/2/2023/02/20230212-CCS-Final_Full-copy.pdf"><a href="https://energyfuturesinitiative.org/wp-content/uploads/sites/2/2023/02/20230212-CCS-Final_Full-copy.pdf" target="_blank" rel="noopener"><sup>4</sup></a> </span> In addition, recent climate and infrastructure legislation has provided ~$12 billion in funding to support U.S. carbon management projects. The U.S. has excellent geology for storing CO<sub>2</sub>, world-class engineering and professional talent, and relatively abundant low-cost zero-carbon energy resources that can power carbon dioxide removal (CDR) projects to maximize net carbon removed.</p><p><strong>Many large-scale carbon management projects are already proving financially attractive today with enhancements to the federal 45Q tax credit, and investors have raised billions to take advantage of these opportunities.</strong><span class="tooltip" data-text="Bloomberg New Energy Finance. (2022). 2022 CCUS Market Outlook."><sup>5</sup></span><sup>,</sup><span class="tooltip" data-text="Energy Futures Initiative (2023). Turning CCS projects in heavy industry & power into blue chip financial investments. Retrieved from https://energyfuturesinitiative.org/wp-content/uploads/sites/2/2023/02/20230212-CCS-Final_Full-copy.pdf"><a href="https://energyfuturesinitiative.org/wp-content/uploads/sites/2/2023/02/20230212-CCS-Final_Full-copy.pdf" target="_blank" rel="noopener"><sup>6</sup></a> </span> These investments range from early-stage equity in carbon capture technology providers to large-scale private equity-backed investments in CO<sub>2</sub> transport infrastructure.</p> </div> </div> </div> </div> </div> </section> </div> </div> </div> </section> <div class="elementor-element elementor-element-fe12cb0 e-flex e-con-boxed e-con e-parent" data-id="fe12cb0" data-element_type="container" data-settings="{"background_background":"classic"}"> <div class="e-con-inner"> <div class="elementor-element elementor-element-f613c42 e-con-full e-flex e-con e-child" data-id="f613c42" data-element_type="container"> <div class="elementor-element elementor-element-46866a9 elementor-widget elementor-widget-text-editor" data-id="46866a9" data-element_type="widget" data-widget_type="text-editor.default"> <div class="elementor-widget-container"> <h2 style="text-align: center;"><span style="color: #ffffff;"><strong>There are two pathways to meaningfully scale carbon management through near-term and longer-term opportunities.</strong><span class="tooltip" style="font-size: 15px; font-weight: 500;" data-text="Data in this report for CCUS applications focus only on incremental costs and revenues associated with retrofitting an existing facility with installing and operating carbon capture. They do not reflect the overall economics of a given facility."><sup>7</sup></span><sup style="font-size: 15px; font-weight: 500;">,</sup><span class="tooltip" style="font-size: 15px; font-weight: 500;" data-text="Near-term and longer-term opportunities refer to an economic analysis of carbon management projects under the current policy and regulatory environment and is not meant as a comment on the technical feasibility of these projects. A wide portfolio of carbon management technologies for a suite of applications are commercially mature and ready to deploy today."><sup>8</sup></span><sup style="font-size: 15px; font-weight: 500;">,</sup></span><span class="tooltip" style="color: #ffffff; font-size: 15px; font-weight: 500;" data-text="We note that the discussion in this paper examines economic break-even points for carbon capture in the absence of regulatory drivers. Any state or federal regulatory actions could dramatically accelerate the business case for profitable investments in carbon management."><sup>9</sup></span></h2> </div> </div> <div class="elementor-element elementor-element-31227d0 elementor-widget elementor-widget-hotspot" data-id="31227d0" data-element_type="widget" data-settings="{"hotspot":[{"_id":"2c990df","hotspot_custom_size":"","hotspot_tooltip_content":"<p>Displayed cost estimates based on EFI Foundation capture costs with transport (GCCSI, 2019) and storage (BNEF, 2022) costs of ~$10-40\/tonne, except where noted. All in 2022 dollars. All CCUS figures represent retrofits, not new-build facilities. The lower bound costs represents a NOAK plant in a low cost retrofit scenario with low inflation. The higher bound costs represents a FOAK plant in a high cost retrofit scenario with high inflation. The inflation variance on each cost estimate represents the range of cost increases on a generic chemical processing facility due to inflation from 2018 using the Chemical Engineering Plant Cost Index (CEPCI).<\/p>","hotspot_offset_x":{"unit":"%","size":5,"sizes":[]},"hotspot_offset_y":{"unit":"%","size":18,"sizes":[]},"hotspot_tooltip_position":"yes","hotspot_position":"left","hotspot_tooltip_width":{"unit":"px","size":720,"sizes":[]},"hotspot_tooltip_text_wrap":"yes","hotspot_label":"","hotspot_link":{"url":"","is_external":"","nofollow":"","custom_attributes":""},"hotspot_icon":{"value":"","library":""},"hotspot_icon_position":null,"hotspot_icon_spacing":null,"hotspot_width":null,"hotspot_height":null,"hotspot_horizontal":"left","hotspot_vertical":"top"},{"_id":"5286f8f","hotspot_tooltip_content":"<p>Revenues based on applicable mix of 45Q tax credit, Low Carbon Fuel Standard, Voluntary Carbon Markets and the 45V tax credit (which cannot be stacked with 45Q). Other sources of revenue (e.g., premium PPAs, EOR) are discussed in more detail in the appendix. Tax credit values do not reflect expected discounts to the face value of the credit associated with tax equity financing or transferability. For retrofits, revenue does not reflect the value of products already sold by the facility (e.g., electricity from an existing power plant)<\/p>","hotspot_offset_x":{"unit":"%","size":16,"sizes":[]},"hotspot_offset_y":{"unit":"%","size":18,"sizes":[]},"hotspot_tooltip_position":"yes","hotspot_position":"left","hotspot_tooltip_width":{"unit":"px","size":720,"sizes":[]},"hotspot_tooltip_text_wrap":"yes","hotspot_label":"","hotspot_link":{"url":"","is_external":"","nofollow":"","custom_attributes":""},"hotspot_icon":{"value":"","library":""},"hotspot_icon_position":null,"hotspot_icon_spacing":null,"hotspot_custom_size":"no","hotspot_width":null,"hotspot_height":null,"hotspot_horizontal":"left","hotspot_vertical":"top"},{"hotspot_tooltip_content":"<p>Current hydrogen capacity is likely to grow with the growth of reformation-based capacity and future demand likely<\/p>","hotspot_offset_x":{"unit":"%","size":22,"sizes":[]},"hotspot_offset_y":{"unit":"%","size":30,"sizes":[]},"hotspot_tooltip_position":"yes","hotspot_position":"left","hotspot_tooltip_width":{"unit":"px","size":720,"sizes":[]},"hotspot_tooltip_text_wrap":"yes","_id":"d636d0b","hotspot_label":"","hotspot_link":{"url":"","is_external":"","nofollow":"","custom_attributes":""},"hotspot_icon":{"value":"","library":""},"hotspot_icon_position":null,"hotspot_icon_spacing":null,"hotspot_custom_size":"no","hotspot_width":null,"hotspot_height":null,"hotspot_horizontal":"left","hotspot_vertical":"top"},{"hotspot_tooltip_content":"<p>Includes BECCS to power, biochar, and bio-oil; Biochar and bio-oil may not be eligible for 45Q<\/p>","hotspot_offset_x":{"unit":"%","size":89.5,"sizes":[]},"hotspot_offset_y":{"unit":"%","size":70,"sizes":[]},"hotspot_tooltip_position":"yes","hotspot_position":"right","hotspot_tooltip_width":{"unit":"px","size":720,"sizes":[]},"hotspot_tooltip_text_wrap":"yes","_id":"b8c1ca5","hotspot_label":"","hotspot_link":{"url":"","is_external":"","nofollow":"","custom_attributes":""},"hotspot_icon":{"value":"","library":""},"hotspot_icon_position":null,"hotspot_icon_spacing":null,"hotspot_custom_size":"no","hotspot_width":null,"hotspot_height":null,"hotspot_horizontal":"left","hotspot_vertical":"top"}],"tooltip_position":"bottom","tooltip_trigger":"mouseenter","hotspot_sequenced_animation":"no","tooltip_animation":"e-hotspot--fade-in-out"}" data-widget_type="hotspot.default"> <div class="elementor-widget-container"> <style>/*! elementor-pro - v3.21.0 - 30-04-2024 */ @keyframes e-hotspot-soft-beat{0%{transform:scale(1)}to{transform:scale(1.1)}}@keyframes e-hotspot-expand{0%{transform:scale(.5);opacity:1}to{transform:scale(1.5);opacity:0}}.elementor-widget-hotspot{display:flex;justify-content:var(--background-align)}.elementor-widget-hotspot .elementor-widget-container{position:relative;display:inline-block;width:var(--container-width);max-width:var(--container-max-width);height:var(--container-height)}.elementor-widget-hotspot .elementor-widget-container>img{display:block;width:var(--image-width,auto);height:var(--container-height);opacity:var(--opacity,1)}.e-hotspot{z-index:1;display:flex;align-items:center;justify-content:center;position:absolute}.e-hotspot--position-left.e-hotspot--position-top{transform:translate(calc(-1 * var(--hotspot-translate-x)),calc(-1 * var(--hotspot-translate-y)))}.e-hotspot--position-left.e-hotspot--position-bottom{transform:translate(calc(-1 * var(--hotspot-translate-x)),var(--hotspot-translate-y))}.e-hotspot--position-right.e-hotspot--position-top{transform:translate(var(--hotspot-translate-x),calc(-1 * var(--hotspot-translate-y)))}.e-hotspot--position-right.e-hotspot--position-bottom{transform:translate(var(--hotspot-translate-x),var(--hotspot-translate-y))}.e-hotspot--active{z-index:2}.e-hotspot__inner-circle,.e-hotspot__outer-circle{content:"";display:inline-block;box-sizing:content-box;border-radius:50%}.e-hotspot__inner-circle{position:absolute;top:50%;left:50%;transform:translate(-50%,-50%);background-color:var(--hotspot-color);padding:calc(var(--hotspot-size, 18px) / 2)}.e-hotspot__outer-circle{background-color:var(--hotspot-color);padding:var(--hotspot-padding,4px)}.e-hotspot--icon .e-hotspot__button,.e-hotspot__outer-circle{width:var(--hotspot-size,18px);height:var(--hotspot-size,18px)}.e-hotspot--icon .e-hotspot__button{line-height:0;box-sizing:content-box;font-size:var(--hotspot-size,18px)}.e-hotspot__icon,.e-hotspot__label{display:flex;justify-content:center;align-items:center}.e-hotspot__icon svg,.e-hotspot__label svg{height:var(--hotspot-size,18px);width:auto}.e-hotspot__button{cursor:pointer;position:relative;display:grid;grid-auto-flow:column;justify-content:center;color:var(--hotspot-color);font-size:var(--hotspot-size,18px);min-width:var(--hotspot-button-width);min-height:var(--hotspot-button-height)}.e-hotspot__button:before{z-index:-2;content:"";width:100%;height:100%;left:-5px;top:-5px;position:absolute;padding:5px;box-sizing:content-box}.e-hotspot__button svg{fill:var(--hotspot-color)}.e-hotspot:not(.e-hotspot--circle) .e-hotspot__button{min-width:var(--hotspot-min-width);min-height:var(--hotspot-min-height);background-color:var(--hotspot-box-color);padding:var(--hotspot-padding,4px);border-radius:var(--hotspot-border-radius,3px)}.e-hotspot:not(.e-hotspot--circle) .e-hotspot__button:before{border-radius:var(--hotspot-border-radius,3px)}.e-hotspot:not(.e-hotspot--circle) .e-hotspot--expand:before{background-color:var(--hotspot-box-color)}.e-hotspot--overlay{opacity:.7;transition:opacity .2s}.e-hotspot--active .e-hotspot--overlay,.e-hotspot--overlay:hover{opacity:1}.e-hotspot--soft-beat{animation:e-hotspot-soft-beat .7s infinite alternate;animation-timing-function:ease}.e-hotspot--expand .e-hotspot__outer-circle{animation:e-hotspot-expand 2s infinite}.e-hotspot:not(.e-hotspot--circle) .e-hotspot--expand:before{content:"";width:100%;height:100%;position:absolute;z-index:-1;opacity:0;animation:e-hotspot-expand 2s infinite}.e-hotspot--sequenced{animation:fadeIn .3s;animation-iteration-count:1;animation-fill-mode:both}.e-hotspot__direction-mask{overflow:hidden;position:absolute;pointer-events:none}.e-hotspot__tooltip{white-space:var(--white-space,nowrap);transition-property:transform,opacity;transition-duration:var(--tooltip-transition-duration,.5s);transform-origin:center center;position:absolute;pointer-events:none;color:var(--tooltip-text-color,#fff);text-align:var(--tooltip-align);min-width:var(--tooltip-min-width);padding:var(--tooltip-padding,8px);border-radius:var(--tooltip-border-radius);background-color:var(--tooltip-color)}.e-hotspot__tooltip p:last-of-type{margin-bottom:0}.e-hotspot__direction-mask .e-hotspot__tooltip{box-shadow:none!important;position:static}.e-hotspot--active .e-hotspot__tooltip{pointer-events:visible}.e-hotspot--fade-in-out{opacity:0}.e-hotspot--active .e-hotspot--fade-in-out{opacity:1}.e-hotspot--fade-grow{opacity:0;transform:scale(0)}.e-hotspot--active .e-hotspot--fade-grow{opacity:1;transform:scale(1)}.e-hotspot--override-tooltip-animation-from-top,.e-hotspot--tooltip-animation-from-top{transform:translateY(calc(-100% - 1px))}.e-hotspot--override-tooltip-animation-from-left,.e-hotspot--tooltip-animation-from-left{transform:translate(calc(-100% - 1px))}.e-hotspot--override-tooltip-animation-from-right,.e-hotspot--tooltip-animation-from-right{transform:translate(calc(100% + 1px))}.e-hotspot--override-tooltip-animation-from-bottom,.e-hotspot--tooltip-animation-from-bottom{transform:translateY(calc(100% + 1px))}.e-hotspot--fade-direction{opacity:0}.e-hotspot--active .e-hotspot--fade-direction,.e-hotspot--active .e-hotspot--slide-direction{transform:translate(0) scale(1);opacity:1}.e-hotspot--show-tooltip{transition:none;opacity:1;pointer-events:visible;transform:translate(0)}</style><img decoding="async" width="1024" height="521" src="https://liftoff.energy.gov/wp-content/uploads/2023/05/CM-Fig1-1024x521.png" class="attachment-large size-large wp-image-4253" alt="" srcset="https://liftoff.energy.gov/wp-content/uploads/2023/05/CM-Fig1-1024x521.png 1024w, https://liftoff.energy.gov/wp-content/uploads/2023/05/CM-Fig1-300x153.png 300w, https://liftoff.energy.gov/wp-content/uploads/2023/05/CM-Fig1-768x391.png 768w, https://liftoff.energy.gov/wp-content/uploads/2023/05/CM-Fig1.png 1210w" sizes="(max-width: 1024px) 100vw, 1024px" /> <div class="e-hotspot elementor-repeater-item-2c990df e-hotspot--position-left e-hotspot--position-top e-hotspot--circle"> <div class="e-hotspot__button e-hotspot--expand"> <div class="e-hotspot__outer-circle"></div> <div class="e-hotspot__inner-circle"></div> </div> <div class="e-hotspot__tooltip e-hotspot--tooltip-position e-hotspot--fade-in-out " > <p>Displayed cost estimates based on EFI Foundation capture costs with transport (GCCSI, 2019) and storage (BNEF, 2022) costs of ~$10-40/tonne, except where noted. All in 2022 dollars. All CCUS figures represent retrofits, not new-build facilities. The lower bound costs represents a NOAK plant in a low cost retrofit scenario with low inflation. The higher bound costs represents a FOAK plant in a high cost retrofit scenario with high inflation. The inflation variance on each cost estimate represents the range of cost increases on a generic chemical processing facility due to inflation from 2018 using the Chemical Engineering Plant Cost Index (CEPCI).</p> </div> </div> <div class="e-hotspot elementor-repeater-item-5286f8f e-hotspot--position-left e-hotspot--position-top e-hotspot--circle"> <div class="e-hotspot__button e-hotspot--expand"> <div class="e-hotspot__outer-circle"></div> <div class="e-hotspot__inner-circle"></div> </div> <div class="e-hotspot__tooltip e-hotspot--tooltip-position e-hotspot--fade-in-out " > <p>Revenues based on applicable mix of 45Q tax credit, Low Carbon Fuel Standard, Voluntary Carbon Markets and the 45V tax credit (which cannot be stacked with 45Q). Other sources of revenue (e.g., premium PPAs, EOR) are discussed in more detail in the appendix. Tax credit values do not reflect expected discounts to the face value of the credit associated with tax equity financing or transferability. For retrofits, revenue does not reflect the value of products already sold by the facility (e.g., electricity from an existing power plant)</p> </div> </div> <div class="e-hotspot elementor-repeater-item-d636d0b e-hotspot--position-left e-hotspot--position-top e-hotspot--circle"> <div class="e-hotspot__button e-hotspot--expand"> <div class="e-hotspot__outer-circle"></div> <div class="e-hotspot__inner-circle"></div> </div> <div class="e-hotspot__tooltip e-hotspot--tooltip-position e-hotspot--fade-in-out " > <p>Current hydrogen capacity is likely to grow with the growth of reformation-based capacity and future demand likely</p> </div> </div> <div class="e-hotspot elementor-repeater-item-b8c1ca5 e-hotspot--position-left e-hotspot--position-top e-hotspot--circle"> <div class="e-hotspot__button e-hotspot--expand"> <div class="e-hotspot__outer-circle"></div> <div class="e-hotspot__inner-circle"></div> </div> <div class="e-hotspot__tooltip e-hotspot--tooltip-position e-hotspot--fade-in-out " > <p>Includes BECCS to power, biochar, and bio-oil; Biochar and bio-oil may not be eligible for 45Q</p> </div> </div> </div> </div> <div class="elementor-element elementor-element-b446d98 animated-slow elementor-invisible elementor-widget elementor-widget-text-editor" data-id="b446d98" data-element_type="widget" data-settings="{"_animation":"fadeIn"}" data-widget_type="text-editor.default"> <div class="elementor-widget-container"> <p style="text-align: center;">Concentrated sources of CO<sub>2</sub> (e.g., in ethanol or hydrogen Steam Methane Reformer (SMR) capture facilities) are currently profitable but do not include sufficient emissions reductions alone to achieve net zero goals</p> </div> </div> <div class="elementor-element elementor-element-7ec585f uael-timeline--center uael-timeline-responsive-tablet uael-timeline-arrow-center elementor-invisible elementor-widget elementor-widget-uael-timeline" data-id="7ec585f" data-element_type="widget" data-settings="{"_animation":"fadeInRight"}" data-widget_type="uael-timeline.default"> <div class="elementor-widget-container"> <div class="uael-timeline-wrapper uael-timeline-node"> <div class="uael-timeline-main"> <div class="uael-days"> <div class="elementor-repeater-item-f878490 uael-timeline-field animate-border out-view"> <div class="uael-timeline-widget uael-timeline-right"> <div class="uael-timeline-marker"> <span class="timeline-icon-new out-view-timeline-icon"> <svg aria-hidden="true" class="e-font-icon-svg e-fa-calendar" viewBox="0 0 448 512" xmlns="http://www.w3.org/2000/svg"><path d="M12 192h424c6.6 0 12 5.4 12 12v260c0 26.5-21.5 48-48 48H48c-26.5 0-48-21.5-48-48V204c0-6.6 5.4-12 12-12zm436-44v-36c0-26.5-21.5-48-48-48h-48V12c0-6.6-5.4-12-12-12h-40c-6.6 0-12 5.4-12 12v52H160V12c0-6.6-5.4-12-12-12h-40c-6.6 0-12 5.4-12 12v52H48C21.5 64 0 85.5 0 112v36c0 6.6 5.4 12 12 12h424c6.6 0 12-5.4 12-12z"></path></svg> </span> </div> <div class="uael-day-new uael-day-right"> <div class="uael-events-new"> <div class="uael-events-inner-new"> <div class="uael-timeline-date-hide uael-date-inner"><div class="inner-date-new"><p >~2023-2030</p></div> </div> <div class="uael-content"> <div class="uael-timeline-heading-text"> <h3 class="uael-timeline-heading">Near-term opportunities</h3> </div> <div class="uael-timeline-desc-content"><p>For near term opportunities (i.e., through 2030), projects in industries with high-purity CO<sub>2</sub> streams (e.g., ethanol, natural gas processing, hydrogen) have the best project economics and many projects are in active development or are already in operation. Large-scale transportation and storage infrastructure is likely to emerge to serve these projects. These developments—along with some promising demonstration projects in higher-cost carbon management applications (e.g., steel, cement)—will lay the foundation for more widespread deployment by establishing best-practices in contracting, financing, permitting, community engagement, labor agreements, workforce development, and, in some cases, through building out common carrier transport and storage infrastructure that future projects can use.</p></div> </div> <div class="uael-timeline-arrow"></div> </div> </div> </div> <div class="uael-timeline-date-new"> <div class="uael-date-new"><div class="inner-date-new"><div >~2023-2030</div></div> </div> </div> </div> </div> <div class="elementor-repeater-item-acadc0a uael-timeline-field animate-border out-view"> <div class="uael-timeline-widget uael-timeline-left"> <div class="uael-timeline-marker"> <span class="timeline-icon-new out-view-timeline-icon"> <svg aria-hidden="true" class="e-font-icon-svg e-fa-calendar" viewBox="0 0 448 512" xmlns="http://www.w3.org/2000/svg"><path d="M12 192h424c6.6 0 12 5.4 12 12v260c0 26.5-21.5 48-48 48H48c-26.5 0-48-21.5-48-48V204c0-6.6 5.4-12 12-12zm436-44v-36c0-26.5-21.5-48-48-48h-48V12c0-6.6-5.4-12-12-12h-40c-6.6 0-12 5.4-12 12v52H160V12c0-6.6-5.4-12-12-12h-40c-6.6 0-12 5.4-12 12v52H48C21.5 64 0 85.5 0 112v36c0 6.6 5.4 12 12 12h424c6.6 0 12-5.4 12-12z"></path></svg> </span> </div> <div class="uael-day-new uael-day-left"> <div class="uael-events-new"> <div class="uael-events-inner-new"> <div class="uael-timeline-date-hide uael-date-inner"><div class="inner-date-new"><p >~2030+ </p></div> </div> <div class="uael-content"> <div class="uael-timeline-heading-text"> <h3 class="uael-timeline-heading">Longer-term opportunities</h3> </div> <div class="uael-timeline-desc-content">For longer-term opportunities, industries with lower-purity CO<sub>2</sub> streams and distributed process emissions, project economics must improve to make widescale deployment likely in the absence of other drivers (e.g., regulation). Demonstration projects from now through 2030 can support cost declines—both through learning-by-doing and standardizing project finance structures. Increased policy support (either via regulation or incentives) or technology premiums for low-carbon products (e.g., low embodied carbon steel and concrete) would lead to more CCUS and CDR projects.<span class="tooltip left" data-text="The Federal Buy Clean Task Force and the First Mover’s Coalition are both seeking to provide a clear demand signal for low embodied emissions products"><sup>10</sup></span> These end-user-backed technology premiums combined with sustained and predictable government support can provide consistent revenue streams as deployment experience reduces costs.</div> </div> <div class="uael-timeline-arrow"></div> </div> </div> </div> <div class="uael-timeline-date-new"> <div class="uael-date-new"><div class="inner-date-new"><div >~2030+ </div></div> </div> </div> </div> </div> </div> <div class="uael-timeline__line"> <div class="uael-timeline__line__inner"></div> </div> </div> </div> </div> </div> </div> </div> </div> <div class="elementor-element elementor-element-775736d e-flex e-con-boxed e-con e-parent" data-id="775736d" data-element_type="container" data-settings="{"background_background":"classic","shape_divider_top":"triangle"}"> <div class="e-con-inner"> <div class="elementor-shape elementor-shape-top" data-negative="false"> <svg xmlns="http://www.w3.org/2000/svg" viewBox="0 0 1000 100" preserveAspectRatio="none"> <path class="elementor-shape-fill" d="M500,98.9L0,6.1V0h1000v6.1L500,98.9z"/> </svg> </div> <div class="elementor-element elementor-element-24ac3b1 elementor-widget elementor-widget-spacer" data-id="24ac3b1" data-element_type="widget" data-widget_type="spacer.default"> <div class="elementor-widget-container"> <div class="elementor-spacer"> <div class="elementor-spacer-inner"></div> </div> </div> </div> <div class="elementor-element elementor-element-2bdea2f elementor-widget elementor-widget-text-editor" data-id="2bdea2f" data-element_type="widget" data-widget_type="text-editor.default"> <div class="elementor-widget-container"> <h3>Progress across near-term and longer-term opportunities could create commercial liftoff between now and 2030 as project finance mechanisms become de-risked, a robust ecosystem of enabling transport and storage infrastructure matures, state and federal regulatory requirements promote lower-GHG alternatives, and capital markets become comfortable with carbon management projects as an asset class.</h3> </div> </div> <div class="elementor-element elementor-element-d93627a elementor-widget elementor-widget-spacer" data-id="d93627a" data-element_type="widget" data-widget_type="spacer.default"> <div class="elementor-widget-container"> <div class="elementor-spacer"> <div class="elementor-spacer-inner"></div> </div> </div> </div> <div class="elementor-element elementor-element-c6f7006 elementor-widget elementor-widget-hotspot" data-id="c6f7006" data-element_type="widget" data-settings="{"hotspot":[{"_id":"2c990df","hotspot_custom_size":"","hotspot_tooltip_content":"<p>Refers to CO2 capture broadly across sectors examined in this report (see Figure 1); Costs drawn from EFI Foundation, \u201cTurning CCS Projects in Heavy Industry & Power into Blue Chip Financial Investments\u201d<\/p>","hotspot_offset_x":{"unit":"%","size":24.5,"sizes":[]},"hotspot_offset_y":{"unit":"%","size":28,"sizes":[]},"hotspot_tooltip_position":"yes","hotspot_position":"bottom","hotspot_tooltip_width":{"unit":"px","size":720,"sizes":[]},"hotspot_tooltip_text_wrap":"yes","hotspot_label":"","hotspot_link":{"url":"","is_external":"","nofollow":"","custom_attributes":""},"hotspot_icon":{"value":"","library":""},"hotspot_icon_position":null,"hotspot_icon_spacing":null,"hotspot_width":null,"hotspot_height":null,"hotspot_horizontal":"left","hotspot_vertical":"top"},{"hotspot_custom_size":"","hotspot_tooltip_content":"<p>Refers to CO2 capture broadly across sectors examined in this report (see Figure 1); Costs drawn from EFI Foundation, \u201cTurning CCS Projects in Heavy Industry & Power into Blue Chip Financial Investments\u201d<\/p>","hotspot_offset_x":{"unit":"%","size":29.5,"sizes":[]},"hotspot_offset_y":{"unit":"%","size":36,"sizes":[]},"hotspot_tooltip_position":"yes","hotspot_position":"bottom","hotspot_tooltip_width":{"unit":"px","size":720,"sizes":[]},"hotspot_tooltip_text_wrap":"yes","_id":"f72da30","hotspot_label":"","hotspot_link":{"url":"","is_external":"","nofollow":"","custom_attributes":""},"hotspot_icon":{"value":"","library":""},"hotspot_icon_position":null,"hotspot_icon_spacing":null,"hotspot_width":null,"hotspot_height":null,"hotspot_horizontal":"left","hotspot_vertical":"top"},{"_id":"5286f8f","hotspot_tooltip_content":"<p>Generalized across sectors. Individual sectors will have sector-specific cost reductions<\/p>","hotspot_offset_x":{"unit":"%","size":9,"sizes":[]},"hotspot_offset_y":{"unit":"%","size":57.5,"sizes":[]},"hotspot_tooltip_position":"yes","hotspot_position":"bottom","hotspot_tooltip_width":{"unit":"px","size":720,"sizes":[]},"hotspot_tooltip_text_wrap":"yes","hotspot_label":"","hotspot_link":{"url":"","is_external":"","nofollow":"","custom_attributes":""},"hotspot_icon":{"value":"","library":""},"hotspot_icon_position":null,"hotspot_icon_spacing":null,"hotspot_custom_size":"no","hotspot_width":null,"hotspot_height":null,"hotspot_horizontal":"left","hotspot_vertical":"top"},{"hotspot_tooltip_content":"<p>Approximate costs based on published studies by the European Zero Emission Technology and Innovation Platform, the National Petroleum Council, and GCCSI process simulation for a 30 year asset life. All costs have been converted to a U.S. Gulf Coast basis. Lower end of pipeline cost assumes 20 MTPA, 180 km onshore pipeline. Upper end of pipeline cost assumes 1 MTPA, 300 km onshore pipeline.<\/p>","hotspot_offset_x":{"unit":"%","size":57,"sizes":[]},"hotspot_offset_y":{"unit":"%","size":35.5,"sizes":[]},"hotspot_tooltip_position":"yes","hotspot_position":"bottom","hotspot_tooltip_width":{"unit":"px","size":720,"sizes":[]},"hotspot_tooltip_text_wrap":"yes","_id":"d636d0b","hotspot_label":"","hotspot_link":{"url":"","is_external":"","nofollow":"","custom_attributes":""},"hotspot_icon":{"value":"","library":""},"hotspot_icon_position":null,"hotspot_icon_spacing":null,"hotspot_custom_size":"no","hotspot_width":null,"hotspot_height":null,"hotspot_horizontal":"left","hotspot_vertical":"top"},{"hotspot_tooltip_content":"<p>Utilization routes also exist including, but not limited to, conversion of CO2 into synfuels or plastics and utilization of CO2 in EOR and building materials<\/p>","hotspot_offset_x":{"unit":"%","size":84.5,"sizes":[]},"hotspot_offset_y":{"unit":"%","size":28,"sizes":[]},"hotspot_tooltip_position":"yes","hotspot_position":"bottom","hotspot_tooltip_width":{"unit":"px","size":720,"sizes":[]},"hotspot_tooltip_text_wrap":"yes","_id":"d2f76c3","hotspot_label":"","hotspot_link":{"url":"","is_external":"","nofollow":"","custom_attributes":""},"hotspot_icon":{"value":"","library":""},"hotspot_icon_position":null,"hotspot_icon_spacing":null,"hotspot_custom_size":"no","hotspot_width":null,"hotspot_height":null,"hotspot_horizontal":"left","hotspot_vertical":"top"},{"hotspot_tooltip_content":"<p>Figure represents a levelized cost of site screening, site selection, permitting & construction, operations, and site closure and post-injection site care<\/p>","hotspot_offset_x":{"unit":"%","size":85.5,"sizes":[]},"hotspot_offset_y":{"unit":"%","size":35,"sizes":[]},"hotspot_tooltip_position":"yes","hotspot_position":"bottom","hotspot_tooltip_width":{"unit":"px","size":720,"sizes":[]},"hotspot_tooltip_text_wrap":"yes","_id":"b8c1ca5","hotspot_label":"","hotspot_link":{"url":"","is_external":"","nofollow":"","custom_attributes":""},"hotspot_icon":{"value":"","library":""},"hotspot_icon_position":null,"hotspot_icon_spacing":null,"hotspot_custom_size":"no","hotspot_width":null,"hotspot_height":null,"hotspot_horizontal":"left","hotspot_vertical":"top"},{"hotspot_tooltip_content":"<p>Modularization will be a more critical driver for certain technology types than for others<\/p>","hotspot_offset_x":{"unit":"%","size":27.7,"sizes":[]},"hotspot_offset_y":{"unit":"%","size":96.5,"sizes":[]},"hotspot_tooltip_position":"yes","hotspot_position":"bottom","hotspot_tooltip_width":{"unit":"px","size":720,"sizes":[]},"hotspot_tooltip_text_wrap":"yes","_id":"5f10ab6","hotspot_label":"","hotspot_link":{"url":"","is_external":"","nofollow":"","custom_attributes":""},"hotspot_icon":{"value":"","library":""},"hotspot_icon_position":null,"hotspot_icon_spacing":null,"hotspot_custom_size":"no","hotspot_width":null,"hotspot_height":null,"hotspot_horizontal":"left","hotspot_vertical":"top"}],"tooltip_position":"bottom","tooltip_trigger":"mouseenter","hotspot_sequenced_animation":"no","tooltip_animation":"e-hotspot--fade-in-out"}" data-widget_type="hotspot.default"> <div class="elementor-widget-container"> <img decoding="async" width="1024" height="514" src="https://liftoff.energy.gov/wp-content/uploads/2023/05/Capture_drives_majority_of_unit_costs-1024x514.png" class="attachment-large size-large wp-image-4254" alt="" srcset="https://liftoff.energy.gov/wp-content/uploads/2023/05/Capture_drives_majority_of_unit_costs-1024x514.png 1024w, https://liftoff.energy.gov/wp-content/uploads/2023/05/Capture_drives_majority_of_unit_costs-300x150.png 300w, https://liftoff.energy.gov/wp-content/uploads/2023/05/Capture_drives_majority_of_unit_costs-768x385.png 768w, https://liftoff.energy.gov/wp-content/uploads/2023/05/Capture_drives_majority_of_unit_costs.png 1228w" sizes="(max-width: 1024px) 100vw, 1024px" /> <div class="e-hotspot elementor-repeater-item-2c990df e-hotspot--position-left e-hotspot--position-top e-hotspot--circle"> <div class="e-hotspot__button e-hotspot--expand"> <div class="e-hotspot__outer-circle"></div> <div class="e-hotspot__inner-circle"></div> </div> <div class="e-hotspot__tooltip e-hotspot--tooltip-position e-hotspot--fade-in-out " > <p>Refers to CO2 capture broadly across sectors examined in this report (see Figure 1); Costs drawn from EFI Foundation, “Turning CCS Projects in Heavy Industry & Power into Blue Chip Financial Investments”</p> </div> </div> <div class="e-hotspot elementor-repeater-item-f72da30 e-hotspot--position-left e-hotspot--position-top e-hotspot--circle"> <div class="e-hotspot__button e-hotspot--expand"> <div class="e-hotspot__outer-circle"></div> <div class="e-hotspot__inner-circle"></div> </div> <div class="e-hotspot__tooltip e-hotspot--tooltip-position e-hotspot--fade-in-out " > <p>Refers to CO2 capture broadly across sectors examined in this report (see Figure 1); Costs drawn from EFI Foundation, “Turning CCS Projects in Heavy Industry & Power into Blue Chip Financial Investments”</p> </div> </div> <div class="e-hotspot elementor-repeater-item-5286f8f e-hotspot--position-left e-hotspot--position-top e-hotspot--circle"> <div class="e-hotspot__button e-hotspot--expand"> <div class="e-hotspot__outer-circle"></div> <div class="e-hotspot__inner-circle"></div> </div> <div class="e-hotspot__tooltip e-hotspot--tooltip-position e-hotspot--fade-in-out " > <p>Generalized across sectors. Individual sectors will have sector-specific cost reductions</p> </div> </div> <div class="e-hotspot elementor-repeater-item-d636d0b e-hotspot--position-left e-hotspot--position-top e-hotspot--circle"> <div class="e-hotspot__button e-hotspot--expand"> <div class="e-hotspot__outer-circle"></div> <div class="e-hotspot__inner-circle"></div> </div> <div class="e-hotspot__tooltip e-hotspot--tooltip-position e-hotspot--fade-in-out " > <p>Approximate costs based on published studies by the European Zero Emission Technology and Innovation Platform, the National Petroleum Council, and GCCSI process simulation for a 30 year asset life. All costs have been converted to a U.S. Gulf Coast basis. Lower end of pipeline cost assumes 20 MTPA, 180 km onshore pipeline. Upper end of pipeline cost assumes 1 MTPA, 300 km onshore pipeline.</p> </div> </div> <div class="e-hotspot elementor-repeater-item-d2f76c3 e-hotspot--position-left e-hotspot--position-top e-hotspot--circle"> <div class="e-hotspot__button e-hotspot--expand"> <div class="e-hotspot__outer-circle"></div> <div class="e-hotspot__inner-circle"></div> </div> <div class="e-hotspot__tooltip e-hotspot--tooltip-position e-hotspot--fade-in-out " > <p>Utilization routes also exist including, but not limited to, conversion of CO2 into synfuels or plastics and utilization of CO2 in EOR and building materials</p> </div> </div> <div class="e-hotspot elementor-repeater-item-b8c1ca5 e-hotspot--position-left e-hotspot--position-top e-hotspot--circle"> <div class="e-hotspot__button e-hotspot--expand"> <div class="e-hotspot__outer-circle"></div> <div class="e-hotspot__inner-circle"></div> </div> <div class="e-hotspot__tooltip e-hotspot--tooltip-position e-hotspot--fade-in-out " > <p>Figure represents a levelized cost of site screening, site selection, permitting & construction, operations, and site closure and post-injection site care</p> </div> </div> <div class="e-hotspot elementor-repeater-item-5f10ab6 e-hotspot--position-left e-hotspot--position-top e-hotspot--circle"> <div class="e-hotspot__button e-hotspot--expand"> <div class="e-hotspot__outer-circle"></div> <div class="e-hotspot__inner-circle"></div> </div> <div class="e-hotspot__tooltip e-hotspot--tooltip-position e-hotspot--fade-in-out " > <p>Modularization will be a more critical driver for certain technology types than for others</p> </div> </div> </div> </div> <div class="elementor-element elementor-element-60d488f elementor-widget elementor-widget-text-editor" data-id="60d488f" data-element_type="widget" data-widget_type="text-editor.default"> <div class="elementor-widget-container"> <p style="text-align: center;">Capture drives the majority of unit costs for CCUS and represents the majority of cost reduction potential.</p> </div> </div> </div> </div> <section class="elementor-section elementor-top-section elementor-element elementor-element-eb61a1c elementor-section-boxed elementor-section-height-default elementor-section-height-default" data-id="eb61a1c" data-element_type="section" data-settings="{"background_background":"classic","shape_divider_top":"triangle"}"> <div class="elementor-shape elementor-shape-top" data-negative="false"> <svg xmlns="http://www.w3.org/2000/svg" viewBox="0 0 1000 100" preserveAspectRatio="none"> <path class="elementor-shape-fill" d="M500,98.9L0,6.1V0h1000v6.1L500,98.9z"/> </svg> </div> <div class="elementor-container elementor-column-gap-no"> <div class="elementor-column elementor-col-33 elementor-top-column elementor-element elementor-element-5783a78 elementor-invisible" data-id="5783a78" data-element_type="column" data-settings="{"animation":"fadeInLeft"}"> <div class="elementor-widget-wrap elementor-element-populated"> <div class="elementor-element elementor-element-c19454f elementor-widget elementor-widget-heading" data-id="c19454f" data-element_type="widget" data-widget_type="heading.default"> <div class="elementor-widget-container"> <h2 class="elementor-heading-title elementor-size-default">The challenges facing widespread deployment of carbon management are real but solvable</h2> </div> </div> </div> </div> <div class="elementor-column elementor-col-66 elementor-top-column elementor-element elementor-element-ae86227 elementor-invisible" data-id="ae86227" data-element_type="column" data-settings="{"animation":"fadeInRight"}"> <div class="elementor-widget-wrap elementor-element-populated"> <div class="elementor-element elementor-element-81aed9d elementor-widget elementor-widget-accordion" data-id="81aed9d" data-element_type="widget" data-widget_type="accordion.default"> <div class="elementor-widget-container"> <style>/*! elementor - v3.21.0 - 08-05-2024 */ .elementor-accordion{text-align:start}.elementor-accordion .elementor-accordion-item{border:1px solid #d5d8dc}.elementor-accordion .elementor-accordion-item+.elementor-accordion-item{border-top:none}.elementor-accordion .elementor-tab-title{margin:0;padding:15px 20px;font-weight:700;line-height:1;cursor:pointer;outline:none}.elementor-accordion .elementor-tab-title .elementor-accordion-icon{display:inline-block;width:1.5em}.elementor-accordion .elementor-tab-title .elementor-accordion-icon svg{width:1em;height:1em}.elementor-accordion .elementor-tab-title .elementor-accordion-icon.elementor-accordion-icon-right{float:right;text-align:right}.elementor-accordion .elementor-tab-title .elementor-accordion-icon.elementor-accordion-icon-left{float:left;text-align:left}.elementor-accordion .elementor-tab-title .elementor-accordion-icon .elementor-accordion-icon-closed{display:block}.elementor-accordion .elementor-tab-title .elementor-accordion-icon .elementor-accordion-icon-opened,.elementor-accordion .elementor-tab-title.elementor-active .elementor-accordion-icon-closed{display:none}.elementor-accordion .elementor-tab-title.elementor-active .elementor-accordion-icon-opened{display:block}.elementor-accordion .elementor-tab-content{display:none;padding:15px 20px;border-top:1px solid #d5d8dc}@media (max-width:767px){.elementor-accordion .elementor-tab-title{padding:12px 15px}.elementor-accordion .elementor-tab-title .elementor-accordion-icon{width:1.2em}.elementor-accordion .elementor-tab-content{padding:7px 15px}}.e-con-inner>.elementor-widget-accordion,.e-con>.elementor-widget-accordion{width:var(--container-widget-width);--flex-grow:var(--container-widget-flex-grow)}</style> <div class="elementor-accordion"> <div class="elementor-accordion-item"> <div id="elementor-tab-title-1351" class="elementor-tab-title" data-tab="1" role="button" aria-controls="elementor-tab-content-1351" aria-expanded="false"> <span class="elementor-accordion-icon elementor-accordion-icon-left" aria-hidden="true"> <span class="elementor-accordion-icon-closed"><svg class="e-font-icon-svg e-fas-plus-circle" viewBox="0 0 512 512" xmlns="http://www.w3.org/2000/svg"><path d="M256 8C119 8 8 119 8 256s111 248 248 248 248-111 248-248S393 8 256 8zm144 276c0 6.6-5.4 12-12 12h-92v92c0 6.6-5.4 12-12 12h-56c-6.6 0-12-5.4-12-12v-92h-92c-6.6 0-12-5.4-12-12v-56c0-6.6 5.4-12 12-12h92v-92c0-6.6 5.4-12 12-12h56c6.6 0 12 5.4 12 12v92h92c6.6 0 12 5.4 12 12v56z"></path></svg></span> <span class="elementor-accordion-icon-opened"><svg class="e-font-icon-svg e-fas-minus-circle" viewBox="0 0 512 512" xmlns="http://www.w3.org/2000/svg"><path d="M256 8C119 8 8 119 8 256s111 248 248 248 248-111 248-248S393 8 256 8zM124 296c-6.6 0-12-5.4-12-12v-56c0-6.6 5.4-12 12-12h264c6.6 0 12 5.4 12 12v56c0 6.6-5.4 12-12 12H124z"></path></svg></span> </span> <a class="elementor-accordion-title" tabindex="0">Estimated project economics for CCUS retrofits on higher-cost-to-capture applications (e.g., cement, and steel) will not lead to widespread deployment without cost or revenue improvements or additional policy.</a> </div> <div id="elementor-tab-content-1351" class="elementor-tab-content elementor-clearfix" data-tab="1" role="region" aria-labelledby="elementor-tab-title-1351">Further demonstration projects in these sectors can enable faster Capital Expenditure (CapEx) cost reductions through commercial standardization, modularization, and technology improvements.<span class="tooltip" data-text="CCUS and certain CDR technologies have significant OpEx expenses (roughly 50% of levelized costs) in the form of energy and material inputs. These persistent OpEx costs make the dramatic total cost declines observed in fuel-free energy technologies like wind and solar unlikely."><sup>11</sup> </span> <strong>DOE demonstration funding could spur cost improvement in these sectors.</strong></div> </div> <div class="elementor-accordion-item"> <div id="elementor-tab-title-1352" class="elementor-tab-title" data-tab="2" role="button" aria-controls="elementor-tab-content-1352" aria-expanded="false"> <span class="elementor-accordion-icon elementor-accordion-icon-left" aria-hidden="true"> <span class="elementor-accordion-icon-closed"><svg class="e-font-icon-svg e-fas-plus-circle" viewBox="0 0 512 512" xmlns="http://www.w3.org/2000/svg"><path d="M256 8C119 8 8 119 8 256s111 248 248 248 248-111 248-248S393 8 256 8zm144 276c0 6.6-5.4 12-12 12h-92v92c0 6.6-5.4 12-12 12h-56c-6.6 0-12-5.4-12-12v-92h-92c-6.6 0-12-5.4-12-12v-56c0-6.6 5.4-12 12-12h92v-92c0-6.6 5.4-12 12-12h56c6.6 0 12 5.4 12 12v92h92c6.6 0 12 5.4 12 12v56z"></path></svg></span> <span class="elementor-accordion-icon-opened"><svg class="e-font-icon-svg e-fas-minus-circle" viewBox="0 0 512 512" xmlns="http://www.w3.org/2000/svg"><path d="M256 8C119 8 8 119 8 256s111 248 248 248 248-111 248-248S393 8 256 8zM124 296c-6.6 0-12-5.4-12-12v-56c0-6.6 5.4-12 12-12h264c6.6 0 12 5.4 12 12v56c0 6.6-5.4 12-12 12H124z"></path></svg></span> </span> <a class="elementor-accordion-title" tabindex="0">Estimated project economics for CCUS retrofits on higher-cost-to-capture applications (e.g., cement, and steel) will not lead to widespread deployment without cost or revenue improvements or additional policy.</a> </div> <div id="elementor-tab-content-1352" class="elementor-tab-content elementor-clearfix" data-tab="2" role="region" aria-labelledby="elementor-tab-title-1352">Further demonstration projects in these sectors can enable faster Capital Expenditure (CapEx) cost reductions through commercial standardization, modularization, and technology improvements.<span class="tooltip" data-text="CCUS and certain CDR technologies have significant OpEx expenses (roughly 50% of levelized costs) in the form of energy and material inputs. These persistent OpEx costs make the dramatic total cost declines observed in fuel-free energy technologies like wind and solar unlikely."><sup>11</sup> </span> <strong>DOE demonstration funding could spur cost improvement in these sectors.</strong></div> </div> <div class="elementor-accordion-item"> <div id="elementor-tab-title-1353" class="elementor-tab-title" data-tab="3" role="button" aria-controls="elementor-tab-content-1353" aria-expanded="false"> <span class="elementor-accordion-icon elementor-accordion-icon-left" aria-hidden="true"> <span class="elementor-accordion-icon-closed"><svg class="e-font-icon-svg e-fas-plus-circle" viewBox="0 0 512 512" xmlns="http://www.w3.org/2000/svg"><path d="M256 8C119 8 8 119 8 256s111 248 248 248 248-111 248-248S393 8 256 8zm144 276c0 6.6-5.4 12-12 12h-92v92c0 6.6-5.4 12-12 12h-56c-6.6 0-12-5.4-12-12v-92h-92c-6.6 0-12-5.4-12-12v-56c0-6.6 5.4-12 12-12h92v-92c0-6.6 5.4-12 12-12h56c6.6 0 12 5.4 12 12v92h92c6.6 0 12 5.4 12 12v56z"></path></svg></span> <span class="elementor-accordion-icon-opened"><svg class="e-font-icon-svg e-fas-minus-circle" viewBox="0 0 512 512" xmlns="http://www.w3.org/2000/svg"><path d="M256 8C119 8 8 119 8 256s111 248 248 248 248-111 248-248S393 8 256 8zM124 296c-6.6 0-12-5.4-12-12v-56c0-6.6 5.4-12 12-12h264c6.6 0 12 5.4 12 12v56c0 6.6-5.4 12-12 12H124z"></path></svg></span> </span> <a class="elementor-accordion-title" tabindex="0">In CDR, voluntary carbon markets can be unpredictable and inconsistent, and long-term prices and volumes remain uncertain. Even with high expected growth, voluntary markets may be insufficient to support the scale of deployment required to achieve U.S. net zero goals. </a> </div> <div id="elementor-tab-content-1353" class="elementor-tab-content elementor-clearfix" data-tab="3" role="region" aria-labelledby="elementor-tab-title-1353"><p>Increasing the transparency and certainty of the voluntary and compliance markets for CDR can increase market support. Two factors could create long-term revenue sources: (1) regulations that favor CDR deployment and (2) increased technology premiums for CDR driven by end-user demand. <strong>Project funding and demand-side market support from DOE could help stabilize the market for CDR developers and investors.</strong></p></div> </div> <div class="elementor-accordion-item"> <div id="elementor-tab-title-1354" class="elementor-tab-title" data-tab="4" role="button" aria-controls="elementor-tab-content-1354" aria-expanded="false"> <span class="elementor-accordion-icon elementor-accordion-icon-left" aria-hidden="true"> <span class="elementor-accordion-icon-closed"><svg class="e-font-icon-svg e-fas-plus-circle" viewBox="0 0 512 512" xmlns="http://www.w3.org/2000/svg"><path d="M256 8C119 8 8 119 8 256s111 248 248 248 248-111 248-248S393 8 256 8zm144 276c0 6.6-5.4 12-12 12h-92v92c0 6.6-5.4 12-12 12h-56c-6.6 0-12-5.4-12-12v-92h-92c-6.6 0-12-5.4-12-12v-56c0-6.6 5.4-12 12-12h92v-92c0-6.6 5.4-12 12-12h56c6.6 0 12 5.4 12 12v92h92c6.6 0 12 5.4 12 12v56z"></path></svg></span> <span class="elementor-accordion-icon-opened"><svg class="e-font-icon-svg e-fas-minus-circle" viewBox="0 0 512 512" xmlns="http://www.w3.org/2000/svg"><path d="M256 8C119 8 8 119 8 256s111 248 248 248 248-111 248-248S393 8 256 8zM124 296c-6.6 0-12-5.4-12-12v-56c0-6.6 5.4-12 12-12h264c6.6 0 12 5.4 12 12v56c0 6.6-5.4 12-12 12H124z"></path></svg></span> </span> <a class="elementor-accordion-title" tabindex="0">Across CCUS and certain types of CDR, the need for multi-party agreements (e.g., between emitting facilities, capture providers, transport providers, and storage facilities) and a lack of commercial standardization complicate project development.</a> </div> <div id="elementor-tab-content-1354" class="elementor-tab-content elementor-clearfix" data-tab="4" role="region" aria-labelledby="elementor-tab-title-1354">Potential solutions include creating <strong>archetypal, field-tested business models and terms </strong>to enable the development and execution of partnerships.<strong> Private sector leadership and DOE-supported “hubs” for direct air capture (DAC) and CCUS </strong>could simplify project development by creating standard commercial arrangements that simplify the development process.<span class="tooltip" data-text="DAC is one of several CDR pathways discussed further in Chapter 2."><sup>12</sup> </span></div> </div> <div class="elementor-accordion-item"> <div id="elementor-tab-title-1355" class="elementor-tab-title" data-tab="5" role="button" aria-controls="elementor-tab-content-1355" aria-expanded="false"> <span class="elementor-accordion-icon elementor-accordion-icon-left" aria-hidden="true"> <span class="elementor-accordion-icon-closed"><svg class="e-font-icon-svg e-fas-plus-circle" viewBox="0 0 512 512" xmlns="http://www.w3.org/2000/svg"><path d="M256 8C119 8 8 119 8 256s111 248 248 248 248-111 248-248S393 8 256 8zm144 276c0 6.6-5.4 12-12 12h-92v92c0 6.6-5.4 12-12 12h-56c-6.6 0-12-5.4-12-12v-92h-92c-6.6 0-12-5.4-12-12v-56c0-6.6 5.4-12 12-12h92v-92c0-6.6 5.4-12 12-12h56c6.6 0 12 5.4 12 12v92h92c6.6 0 12 5.4 12 12v56z"></path></svg></span> <span class="elementor-accordion-icon-opened"><svg class="e-font-icon-svg e-fas-minus-circle" viewBox="0 0 512 512" xmlns="http://www.w3.org/2000/svg"><path d="M256 8C119 8 8 119 8 256s111 248 248 248 248-111 248-248S393 8 256 8zM124 296c-6.6 0-12-5.4-12-12v-56c0-6.6 5.4-12 12-12h264c6.6 0 12 5.4 12 12v56c0 6.6-5.4 12-12 12H124z"></path></svg></span> </span> <a class="elementor-accordion-title" tabindex="0">Permitting dedicated geologic storage projects (e.g., Class VI injection wells) may be seen by developers and investors as a long and uncertain process.</a> </div> <div id="elementor-tab-content-1355" class="elementor-tab-content elementor-clearfix" data-tab="5" role="region" aria-labelledby="elementor-tab-title-1355"><strong>Congress provided funding to EPA</strong> through the Bipartisan Infrastructure Law (BIL) to support the federal Class VI permitting program as well as to provide grants to states, Tribes, and territories to pursue and implement Class VI primacy applications and programs. <strong>EPA anticipates approximately two years from receipt of completed Class VI applications to issuance of a permit.</strong><span class="tooltip" data-text="United States Environmental Protection Agency, “EPA Class VI Permitting Report to Congress”, October 28, 2022"><sup><a href="https://www.epa.gov/system/files/documents/2022-11/EPA%20Class%20VI%20Permitting%20Report%20to%20Congress.pdf" target="_blank" rel="noopener">13</a></sup> </span> EPA has developed a series of tools to help streamline the permitting process.<span class="tooltip" data-text="United States Environmental Protection Agency, “EPA Class VI Permitting Report to Congress”, October 28, 2022"><sup><a href="https://www.epa.gov/system/files/documents/2022-11/EPA%20Class%20VI%20Permitting%20Report%20to%20Congress.pdf" target="_blank" rel="noopener">14</a></sup> </span></div> </div> <div class="elementor-accordion-item"> <div id="elementor-tab-title-1356" class="elementor-tab-title" data-tab="6" role="button" aria-controls="elementor-tab-content-1356" aria-expanded="false"> <span class="elementor-accordion-icon elementor-accordion-icon-left" aria-hidden="true"> <span class="elementor-accordion-icon-closed"><svg class="e-font-icon-svg e-fas-plus-circle" viewBox="0 0 512 512" xmlns="http://www.w3.org/2000/svg"><path d="M256 8C119 8 8 119 8 256s111 248 248 248 248-111 248-248S393 8 256 8zm144 276c0 6.6-5.4 12-12 12h-92v92c0 6.6-5.4 12-12 12h-56c-6.6 0-12-5.4-12-12v-92h-92c-6.6 0-12-5.4-12-12v-56c0-6.6 5.4-12 12-12h92v-92c0-6.6 5.4-12 12-12h56c6.6 0 12 5.4 12 12v92h92c6.6 0 12 5.4 12 12v56z"></path></svg></span> <span class="elementor-accordion-icon-opened"><svg class="e-font-icon-svg e-fas-minus-circle" viewBox="0 0 512 512" xmlns="http://www.w3.org/2000/svg"><path d="M256 8C119 8 8 119 8 256s111 248 248 248 248-111 248-248S393 8 256 8zM124 296c-6.6 0-12-5.4-12-12v-56c0-6.6 5.4-12 12-12h264c6.6 0 12 5.4 12 12v56c0 6.6-5.4 12-12 12H124z"></path></svg></span> </span> <a class="elementor-accordion-title" tabindex="0">A lack of common-use transport and storage infrastructure could hinder development and may encourage uncoordinated or duplicative source and storage matching. </a> </div> <div id="elementor-tab-content-1356" class="elementor-tab-content elementor-clearfix" data-tab="6" role="region" aria-labelledby="elementor-tab-title-1356"><p>Projects developed today can build out CO<sub>2</sub> transportation networks and storage facilities that can serve as shared infrastructure for future carbon management projects located nearby. <strong>The DOE will support development of shared storage facilities and transport infrastructure through Bipartisan Infrastructure Law (BIL) funding.</strong></p></div> </div> <div class="elementor-accordion-item"> <div id="elementor-tab-title-1357" class="elementor-tab-title" data-tab="7" role="button" aria-controls="elementor-tab-content-1357" aria-expanded="false"> <span class="elementor-accordion-icon elementor-accordion-icon-left" aria-hidden="true"> <span class="elementor-accordion-icon-closed"><svg class="e-font-icon-svg e-fas-plus-circle" viewBox="0 0 512 512" xmlns="http://www.w3.org/2000/svg"><path d="M256 8C119 8 8 119 8 256s111 248 248 248 248-111 248-248S393 8 256 8zm144 276c0 6.6-5.4 12-12 12h-92v92c0 6.6-5.4 12-12 12h-56c-6.6 0-12-5.4-12-12v-92h-92c-6.6 0-12-5.4-12-12v-56c0-6.6 5.4-12 12-12h92v-92c0-6.6 5.4-12 12-12h56c6.6 0 12 5.4 12 12v92h92c6.6 0 12 5.4 12 12v56z"></path></svg></span> <span class="elementor-accordion-icon-opened"><svg class="e-font-icon-svg e-fas-minus-circle" viewBox="0 0 512 512" xmlns="http://www.w3.org/2000/svg"><path d="M256 8C119 8 8 119 8 256s111 248 248 248 248-111 248-248S393 8 256 8zM124 296c-6.6 0-12-5.4-12-12v-56c0-6.6 5.4-12 12-12h264c6.6 0 12 5.4 12 12v56c0 6.6-5.4 12-12 12H124z"></path></svg></span> </span> <a class="elementor-accordion-title" tabindex="0">Some groups oppose CCUS projects or policy support and others are unfamiliar with the technology.</a> </div> <div id="elementor-tab-content-1357" class="elementor-tab-content elementor-clearfix" data-tab="7" role="region" aria-labelledby="elementor-tab-title-1357"><p>Addressing these concerns, including environmental justice considerations, requires commitment to responsible carbon management from policymakers and industry to build trust with communities considering carbon management projects. <strong>Developers must anticipate, listen to, and address stakeholder concerns through early, substantive, and transparent engagement on the benefits and risks of these projects.<br /></strong></p><p>DOE’s Office of Fossil Energy and Carbon Management (FECM) has launched a domestic engagement framework to outline its vision for successful engagement.<span class="tooltip" data-text="DOE FECM. Fossil Energy and Carbon Management Domestic Engagement Framework Retrieved from https://www.energy.gov/sites/default/files/2022-12/FECM%20Engagement%20Framework_12.1.22.pdf"><sup><a href="https://www.energy.gov/sites/default/files/2022-12/FECM%20Engagement%20Framework_12.1.22.pdf" target="_blank" rel="noopener">x</a></sup></span> The framework provides the guiding principles to ensure that tangible environmental, economic, and social benefits flow to communities. Additionally, DOE has added requirements for carbon management funding opportunity applicants to incorporate community engagement; diversity, equity, inclusion, and accessibility; environmental justice; and quality jobs plans into their applications and project plans.</p></div> </div> </div> </div> </div> </div> </div> </div> </section> <div class="elementor-element elementor-element-a3e8565 e-flex e-con-boxed e-con e-parent" data-id="a3e8565" data-element_type="container" data-settings="{"background_background":"classic"}"> <div class="e-con-inner"> <div class="elementor-element elementor-element-2ab1199 elementor-widget elementor-widget-heading" data-id="2ab1199" data-element_type="widget" data-widget_type="heading.default"> <div class="elementor-widget-container"> <h2 class="elementor-heading-title elementor-size-default">Watch the Carbon Management Webinar</h2> </div> </div> <div class="elementor-element elementor-element-6ffe93c elementor-widget elementor-widget-video" data-id="6ffe93c" data-element_type="widget" data-settings="{"youtube_url":"https:\/\/www.youtube.com\/watch?v=qrgwUlNJRKY","video_type":"youtube","controls":"yes"}" data-widget_type="video.default"> <div class="elementor-widget-container"> <style>/*! elementor - v3.21.0 - 08-05-2024 */ .elementor-widget-video .elementor-widget-container{overflow:hidden;transform:translateZ(0)}.elementor-widget-video .elementor-wrapper{aspect-ratio:var(--video-aspect-ratio)}.elementor-widget-video .elementor-wrapper iframe,.elementor-widget-video .elementor-wrapper video{height:100%;width:100%;display:flex;border:none;background-color:#000}@supports not (aspect-ratio:1/1){.elementor-widget-video .elementor-wrapper{position:relative;overflow:hidden;height:0;padding-bottom:calc(100% / var(--video-aspect-ratio))}.elementor-widget-video .elementor-wrapper iframe,.elementor-widget-video .elementor-wrapper video{position:absolute;top:0;right:0;bottom:0;left:0}}.elementor-widget-video .elementor-open-inline .elementor-custom-embed-image-overlay{position:absolute;top:0;right:0;bottom:0;left:0;background-size:cover;background-position:50%}.elementor-widget-video .elementor-custom-embed-image-overlay{cursor:pointer;text-align:center}.elementor-widget-video .elementor-custom-embed-image-overlay:hover .elementor-custom-embed-play i{opacity:1}.elementor-widget-video .elementor-custom-embed-image-overlay img{display:block;width:100%;aspect-ratio:var(--video-aspect-ratio);-o-object-fit:cover;object-fit:cover;-o-object-position:center center;object-position:center center}@supports not (aspect-ratio:1/1){.elementor-widget-video .elementor-custom-embed-image-overlay{position:relative;overflow:hidden;height:0;padding-bottom:calc(100% / var(--video-aspect-ratio))}.elementor-widget-video .elementor-custom-embed-image-overlay img{position:absolute;top:0;right:0;bottom:0;left:0}}.elementor-widget-video .e-hosted-video .elementor-video{-o-object-fit:cover;object-fit:cover}.e-con-inner>.elementor-widget-video,.e-con>.elementor-widget-video{width:var(--container-widget-width);--flex-grow:var(--container-widget-flex-grow)}</style> <div class="elementor-wrapper elementor-open-inline"> <div class="elementor-video"></div> </div> </div> </div> </div> </div> <div class="elementor-element elementor-element-c519092 e-flex e-con-boxed e-con e-parent" data-id="c519092" data-element_type="container"> <div class="e-con-inner"> <div class="elementor-element elementor-element-660a080 elementor-widget elementor-widget-heading" data-id="660a080" data-element_type="widget" data-widget_type="heading.default"> <div class="elementor-widget-container"> <p class="elementor-heading-title elementor-size-default"><b>Carbon management is experiencing a once-in-a-generation opportunity</b> given the current policy and market environment. The 45Q tax credit provides certainty and attractive project economics for several project types. Funding for commercial demonstration and deployment projects in BIL and the Inflation Reduction Act (IRA) can spur carbon management projects in industries in which project economics would otherwise still be challenging, providing investors with sector-specific blueprints for project finance. Substantial and responsible investment in carbon management deployment over the next decade can prove out business models and generate the community, market, and policy buy-in that carbon management will need to contribute meaningfully to the nation’s energy future.</p> </div> </div> <div class="elementor-element elementor-element-4e0983d e-con-full e-flex e-con e-child" data-id="4e0983d" data-element_type="container"> <div class="elementor-element elementor-element-3aed282 elementor-widget-divider--view-line elementor-widget elementor-widget-divider" data-id="3aed282" data-element_type="widget" data-widget_type="divider.default"> <div class="elementor-widget-container"> <style>/*! elementor - v3.21.0 - 08-05-2024 */ 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