The Permitting Program Crucial for Carbon Capture’s Success
Carbon capture hit a policy trifecta at the end of 2020 and start of 2021, and that momentum has continued with recent, exciting commercial developments. While promising technologies are being developed to utilize carbon emissions in fuels and materials, storage of carbon dioxide deep underground remains a tried and true mitigation solution and is feasible around the U.S. because of the vast amount of available storage resources. However, we can only capture and reduce carbon emissions as fast as we can permit the projects to do so. And the success of the rapidly growing number of carbon capture projects hinges on the ability to timely obtain a single permit – the Environmental Protection Agency’s (EPA) Underground Injection Control (UIC) Class VI permit. Read more in our latest blog, “The Permitting Program Crucial for Carbon Capture’s Success,” by ClearPath Policy Analyst Jena Lococo
Former World Bank Group Executive Director Representing the
United States DJ Nordquist Joins ClearPath Advisory Board
This week, former World Bank Group Executive Director representing the United States, Jennifer D. “DJ” Nordquist, joined our Advisory Board. Currently, Ms. Nordquist is a Fellow at the University of Virginia’s Darden School of Business. Read more
Rich’s Take
“We are constantly working to make our energy sector cleaner and more reliable here in the U.S. and around the globe, while making the American economy even stronger. We are thrilled DJ Nordquist will bring her expertise to our existing slate of exceptional advisors. DJ’s 30 years of experience in public policy, government, and global finance will help advise ClearPath on policies that commercialize the cutting-edge clean energy technologies needed to reduce global emissions as quickly and cheaply as possible.”
This week, Senators Susan Collins (R-ME) and Martin Heinrich (D-NM) introduced the bipartisan Energy Storage Tax Incentive and Deployment Act, which would extend the investment tax credit to energy storage technologies. A companion bill was introduced in the House by Reps. Earl Blumenauer (D-OR), Mike Doyle (D-PA) and Vern Buchanan (R-FL).
In December 2020, bipartisan legislation, the Better Energy Storage Technology (BEST) Act, introduced by Senators Heinrich, Collins and Tina Smith (D-MN) was signed into law as part of the Energy Act of 2020. The BEST Act authorizes the research,development, and demonstration of next-generation energy storage technologies in conjunction with DOE’s Energy Storage Grand Challenge, the Department’s comprehensive strategy to position the U.S. for global leadership in energy storage innovation, manufacturing, and exports. Read more
Carbon Capture Modernization Act Reintroduced
This week, ClearPath Action welcomed the introduction of a bipartisan bill to support carbon capture projects at power plants. Senators Shelley Moore Capito (R-WV), Ranking Member of the Environment and Public Works Committee, and Joe Manchin (D-WV), Chairman of the Senate Energy and Natural Resources Committee, reintroduced the Carbon Capture Modernization Act, which would modernize the Section 48A tax credit for coal facilities to better support the use of carbon capture, utilization and storage technologies. The Section 48A tax credit was first established in 2005, however, updates to the credit are needed to help make carbon capture retrofit projects eligible for the incentive. Read more
Carbon Engineering Launches New CO2 Removal Service
Earlier this week, Carbon Engineering launched a new carbon dioxide removal service that allows customers to purchase carbon dioxide removed from the atmosphere using its large-scale direct air capture (DAC) technology. Shopify, a global e-commerce company, has signed on as the first customer for the service, reserving 10,000 tons of permanent carbon removal capacity from a large-scale direct air capture project. Read more
WATCH: Opportunities for Private Finance to Accelerate the Clean Energy Transition
Dynamo Energy Hub and ClearPath hosted an event that discussed key policies and financial innovation pathways that will help accelerate investment in clean energy projects as part of economic recovery. The event was moderated by Emily Chasan, Director of Communications, Generate Capital; and featured Jeremy Harrell, Managing Director of Policy, ClearPath; Miriam Eaves, Head of Origination, Launchpad; and John Kaercher, Partner, Baker Botts. Watch the recording here
IN CASE YOU MISSED IT
Put conservatives back into conservation
House Minority Leader Kevin McCarthy (R-CA), Rep. Bruce Westerman (R-AR), Rep. Dan Newhouse (R-WA), and Benji Backer, president and founder of the American Conservation Coalition, penned an op-ed in the Washington Examiner outlining why conservatives should lead on solutions to climate change. Read the full op-ed
The Lloyd’s List Podcast: Shipping’s nuclear option
The latest edition of Lloyd’s List’s weekly podcast is focused on using a molten salt reactor for powering a ship to help decarbonize the maritime industry. The podcast features Mikal Boe, founder and chief executive of London-based Core-Power, who explains why nuclear should be a serious component of shipping’s decarbonization strategy. Listen to the podcast
MIT Energy Startup Homes in on Fusion
Energy startup Commonwealth Fusion Systems announced it will build a 47 acre campus featuring a 165,000-square-foot manufacturing plant and headquarters, and a 150,000-square-foot research center less than an hour’s drive from MIT. The company’s workforce could double by 2025, when the research center would be done. Read more
How economic freedom creates a healthy environment
Drew Bond, co-founder and president of Conservative Coalition for Climate Solutions, and Anthony Kim, research manager and editor of the Index of Economic Freedom at The Heritage Foundation, penned an op-ed in the Washington Times explaining why we should pursue an “all of the above” energy innovation approach to mitigate climate change. They argued, “It is the freer economies — those that uphold the rule of law, private property rights, limited government, regulatory efficiency, and market openness — that do a far better job of achieving more dynamic growth while creating a healthier, cleaner natural environment.” Read the full op-ed
We’ve all heard The Biden Administration’s mission to “Build Back Better,” but right now, we can only build new clean energy projects and reduce CO2 emissions as fast as we can permit new projects. If we are to truly build back better, the mission ought to be Build Cleaner Faster. Watch the latest ClearPath Whiteboard Video: Build Cleaner Faster where Rich Powell explains why speed is real priority.
All analyses on transitions to a clean energy economy show that we’ll need literally tens of thousands of miles of new pipelines carrying hydrogen and other clean fuels, along with captured carbon dioxide away from power plants and industrial facilities. We’ll also need immense new transmission infrastructure to carry electricity around an increasingly electrified country, and a lot of new power plants sited everywhere. Rich says this will be the largest continental construction project in history.
Cement: The Glue Holding Society Together
Since the Roman Empire, cement and concrete have been used as a building block of societies. Today, concrete is the most used man-made material on the planet, used in everything from roads to buildings and more. Traditional methods of making cement and concrete, however, also result in carbon dioxide emissions.
Did you know around the world, cement and concrete production alone makes up about 8% of global carbon dioxide emissions? Learn more in our Cement and Concrete 101 by ClearPath Program Director Justin Ong about how we’re focusing on technology & innovation solutions, including carbon capture, that can significantly improve their carbon footprint.
THE PATH AHEAD
March 18: The House Science, Space and Technology Committee is hosting a hearing, “Lessons Learned from the Texas Blackouts: Research Needs for a Secure and Resilient Grid.”
March 19: ICCF is hosting a Congressional Briefing on Nuclear Energy Innovation featuring Sen. Sheldon Whitehouse (D-RI), Reps. Don Young (R-AK) and John Curtis (R-UT). Details and Registration.
