CCUS in a net-zero U.S. power sector: Policy design,rates, and project finance |
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Affiliation: | Center on Global Energy Policy, Columbia Univ., New York, NY 10027, USA |
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Abstract: | Carbon capture utilization and storage is an important technology option to rapidly and profoundly decarbonize the power sector, but will not deploy without substantial incentives or regulation. Assessment of U.S. policy options reveals that current incentives only partially close the finance gap and are most sensitive to fuel type and ownership structure. Recent proposed legislation would in some designs attract private investment for many projects, leading to widespread deployment of CCUS in the power sector. Additional constraints and concerns (including technology options and presence of CO2 infrastructure) could play an important secondary role. This study discusses the specific US incentive policies that can provide investors and lenders with net cash flows that are adequate to attract private capital to CCUS power projects in the US. |
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Keywords: | Carbon capture Power sector Electricity Net-zero Climate change Energy policy 45Q Direct pay America jobs plan Infrastructure |
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