The U.S. Department of Energy’s (DOE) Office of Clean Energy Demonstrations (OCED) has announced a significant investment. Up to $1.3 billion will be invested in carbon capture, utilization, and storage (CCUS) technologies. This funding, made possible by the Bipartisan Infrastructure Law, aims to accelerate the development and deployment of emissions-reducing technologies. It supports the nation’s transition to a clean energy future.
Key Highlights of the Funding Initiative
- Investment: Up to $1.3 billion in funding for CCUS projects
- Focus: Commercial-scale demonstration projects, large-scale pilot projects, and infrastructure planning
- Goals: Advance technological maturity, reduce costs, and increase adoption of CCUS
- Sectors: Electricity generation and industrial sectors
The initiative will focus on supporting commercial-scale carbon capture demonstration projects, large-scale pilot projects, and infrastructure planning and design activities. By funding these projects, OCED seeks to enhance the commercial viability of CCUS technologies. It aims to reduce costs and increase their adoption in both the electricity generation and industrial sectors.
Encouraging Commercial Adoption of Carbon Capture Technologies
The DOE funding opportunity aims to boost the confidence of businesses in adopting CCUS technologies. By expanding the market for electricity generation and industrial emitters, it seeks to reduce implementation costs. The initiative aims to make CCUS more feasible for a wider range of facilities.
The funding solicitation is anticipated to be released in late 2024. Interested parties are encouraged to register for an informational webinar on October 21, 2024. Additionally, OCED is organizing an in-person Industry Day on November 19, 2024, in the Washington, D.C. area. This event will foster partnerships among potential applicants. For further information on these and other engagement opportunities, please visit the OCED website.
This upcoming funding opportunity aligns with OCED’s ongoing efforts in carbon capture. It complements existing programs such as the Carbon Capture Demonstration Projects Program. This program includes both demonstration projects and Front-End Engineering Design (FEED) studies. The Carbon Capture Large-Scale Pilot Projects Program also remains a key component of OCED’s initiatives.
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