NZERI Electricity Learning Series: U.S. Fossil Power CCS Under the Inflation Reduction Act
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NZERI Electricity Learning Series: End-use Electrification and its Impact on Distribution Systems
The United States’ 45Q tax credit for carbon oxide sequestration incentivizes emitters to maximize the production and sequestration of carbon oxides, not abatement.
Under the Inflation Reduction Act’s (IRA) 45Q changes, carbon capture and storage (CCS) is expected to be profitable for coal- and natural gas-based electricity generator owners, particularly regulated utilities that earn a guaranteed rate of return on capital expenditures, despite being costlier than zero-carbon resources like wind or solar.
U.S. CCS fossil power sector retrofits could demand $0.4-$3.6 trillion in 45Q tax credits to alter greenhouse gas emissions by -24% ($0.4 trillion) to +82% ($3.6 trillion) versus business-as-usual for affected generators.
Join us for this webinar where we will discuss these results and their important implications for the design of CCS support in the power sector in Canada.
Speaker:
Emily Grubert, Associate Professor, Notre Dame
Wednesday, November 15, 2023
9:00 a.m. – 10:00 a.m. MST
This is an online event hosted via Zoom. A Zoom link will be provided upon registration.
Contact us at sppcomm@ucalgary.ca with any questions.