Please stay safe and healthy, wherever you’re reading this week.
NEW VIDEO: ION Clean Energy, Charting a Path to Net-Zero
ION Clean Energy – a Colorado company – is working on an exciting iteration on a tried-and-true carbon capture process: “post-combustion solvent” carbon capture. This means capturing the carbon dioxide after the fuel is burned, with a liquid.
In the latest ClearPath video, Rich Powell explains how ION Clean Energy’s first commercial project could capture more than 4 million tons of carbon emissions each year, the equivalent of taking nearly a million cars off the road. He also describes how the Colorado start-up partnered with the Department of Energy to test and refine its “secret sauce.”
ION is demonstrating that there’s an increasing number of ways to capture carbon, while decreasing costs. We think that’s a winning recipe! Watch ClearPath’s latest whiteboard video on how ION Clean Energy is on a path to net-zero.
For the past decade, the United States has ceded leadership on international energy development to China and Russia, threatening the climate, our national security, and American economic growth. However, on July 23, the U.S. took a massive step towards reclaiming our role as the primary exporter of vital clean energy technologies by lifting the nuclear financing moratorium at the U.S. International Development Finance Corporation (DFC). DFC support for advanced nuclear technologies opens the door for American entrepreneurs to lead clean energy development for emerging economies. ClearPath Policy Analyst Cole Simons explains how breaking the restriction on nuclear energy is imperative for next generation
clean energy, in a column, “Nuclear Energy Export Financing Unchained.”
GreenBiz: Clean Energy Innovation Is
Unlocking Private Venture Capital
Energy sector innovation and broader efforts to address climate change should resemble the best of the tech start-ups in the United States: fast, disruptive, exciting and good for consumers. This week, GreenBiz published an op-ed by ClearPath’s Managing Director of Policy, Jeremy Harrell, that articulates how disjointed regulatory policies, incumbency advantages and limited financing options have previously stymied the adoption of cutting-edge, first-of-a-kind energy technologies. Jeremy says that as policymakers
mull measures to accelerate an economic recovery and invest in the country’s long-term infrastructure needs, policy should center on tackling the barriers to American ingenuity and entrepreneurship. Read the op-ed
ClearPath Applauds Menezes Confirmation
The week, the Senate overwhelmingly confirmed Mark W. Menezes as Deputy Secretary of Energy at the Department of Energy (DOE). Deputy Secretary Menezes has served as Under Secretary of Energy since 2017 and has worked to advance clean energy policies that ensure U.S. energy independence, strengthen our national security, and reassert America as the global leader in developing clean energy technologies. His confirmation drew bipartisan praise including from House Energy and Commerce Committee Republican Leader Greg Walden (R-OR) and Senate Energy and Natural Resources Committee Chairman Lisa Murkowski (R-AK).
“His policy expertise and knowledge of Congress have proven to be and will continue to be an asset to DOE, the federal government, and the American people in his new position,” said Walden. Read his full statement.
“Mr. Menezes has demonstrated that he has the knowledge and experience needed to succeed as Deputy Secretary of Energy and I congratulate him on his bipartisan confirmation,” said Murkowski. Read her full statement.
House Passes Energy-Water Approps Package
Last Friday, the House passed a minibus of six appropriations bills by a vote of 217-197, including the Energy-Water measure, which includes measures that foster a continued commitment to clean energy innovation and strong support for research and development at DOE. Read more
New Report: LucidCatalyst Publishes Flexible Nuclear Study
ClearPath and LucidCatalyst hosted a webinar this week entitled, “Flexible Nuclear in Future Energy Systems,” to launch a new study by LucidCatalyst for the ARPA-E MEITNER program, which is the first to derive the highest allowable capital cost for advanced reactors across four of the major power markets in the United States in 2034. Panelists for the webinar included Dr. Rachel Slaybaugh, Program Director, ARPA-E; Dr. Shannon Bragg-Sitton, Integrated Energy Systems Lead for Nuclear Science & Technology, Idaho National Lab; Dr. Melissa Lott, Senior Research Scholar, Center on Global Energy Policy, Columbia University; Eric Ingersoll and Kirsty Gogan, Managing Directors, LucidCatalyst; and
ClearPath’s Executive Director Rich Powell.
Shell’s Nature-Based Solutions Business Makes First Acquisition
Shell’s new Nature-Based Solutions business announced Monday it will acquire Australia’s Select Carbon, a “carbon farming” specialist that covers an area bigger than South Carolina. “Projects vary from improving the health of ecosystems, reforestation or improved cattle management to cut overgrazing, all of which help bulk up carbon stores.” Shell has set a target of reaching net-zero emissions by 2050 and has committed to relying on a variety of carbon capture methods to get there.
Extending, Improving 45Q Carbon Capture Tax Credit Gets Bipartisan Support
The comment period for the Internal Revenue Service’s (IRS) proposed carbon sequestration tax credits known as 45Q ended this week. Among several industry stakeholders, a bipartisan group of U.S. Senators led by Kevin Cramer (R-ND) urged Treasury Secretary Steven Mnuchin and IRS Commissioner Charles Rettig to amend the IRS’ safe harbor guidance to allow carbon capture, utilization and sequester projects an additional year of eligibility. Their letter follows the IRS granting certain renewable energy projects an extension in May. Read their letter here.
Earlier this year, Reps. Brad Wenstrup (R-OH) and David Schweikert (R-AZ) joined House Republican Leader Kevin McCarthy and others to unveil the carbon sequestration portion of the House GOP’s Environmental Plan. Reps Wenstrup and Schweikert introduced legislation to expand the 45Q carbon sequestration tax credits and make them permanent in the federal tax code. There are also bipartisan efforts underway in the Senate to extend the tax credit.
IN THE HEARING ROOM
In the hearing room this week: On Wednesday, the Senate Committee on Environment and Public Works held a full committee hearing entitled, “Hearing to Examine a Discussion Draft Bill, American Nuclear Infrastructure Act of 2020.” Read more
Additionally, the Senate Committee on Energy and Natural Resources held a full committee hearing “to Examine Efforts to Improve Cybersecurity for the Energy Sector.” Read more
IN CASE YOU MISSED IT
Deep Isolation Announces Long-Term Cooperation and Licensing Agreement with NAC International
Deep Isolation, a leading innovator in nuclear waste storage and disposal, has signed a long-term cooperation and licensing agreement with NAC International to design, manufacture, and supply the canisters that will be used to safely store and/or dispose of nuclear waste in deep horizontal boreholes.
This technology could be a private sector solution to handling spent nuclear fuel that also supports future reactor developers and end users such as utilities. Read more
Utility Dive: Sempra Energy bullish on hydrogen as California navigates natural gas future
Natural gas power player, Sempra Energy, said they are “quite bullish” on the role that hydrogen will play in California’s energy landscape. Utility Dive reports on how they plan to lead on hydrogen use for the power generation, industrial process and refueling heavy-duty transportation. Read more
Bloomberg: UAE Starts Operation of Arab World’s First Nuclear Power Reactor
Earlier this week, the United Arab Emirates (UAE) started up the Arab world’s first commercial nuclear power plant, the Barakah reactor, and can now move toward full commercial operation over the next several months. The UAE is aiming to have four civilian reactors in operation by 2023, supplying a quarter of the country’s electricity needs. Read more
Casper Star Tribune: Barrasso: The future of nuclear energy is American
Senate Committee on Environment and Public Works Chairman John Barrasso (R-WY) penned an op-ed on the importance of preserving and expanding America’s use of nuclear energy. “Russia and China are subsidizing their government-owned nuclear companies to assert their energy influence around the world. … Reinvigorating America’s nuclear energy infrastructure will create jobs, make America more secure and grow our economy,” he wrote. Read more
US report highlights nuclear export opportunities
Nuclear Energy Institute (NEI) commissioned a report, Global Nuclear Market Assessment Based on IPCC Global Warming of 1.5°C,with a focus on global market opportunities that will arise as nuclear power plays an increasing role in contributing to combating climate change. The report suggests, “as long as U.S. projects can be proven within the next decade, U.S. vendors should be able to access a sizeable portion of the global small modular reactor/advanced reactor market, which is expected to grow substantially in the next 30 years.” Read more
THE PATH AHEAD
August 13: Resources for the Future (RFF) will host an online event at 12:00pm ET, “RFF’s Advanced Energy Technology Series: The Future of Carbon Capture and Sequestration.” More details and registration information here.
Nuclear Energy Export Financing
Unchained
ClearPath Applauds Menezes Confirmation
House Passes Energy-Water Approps Package
New Report: LucidCatalyst Publishes Flexible Nuclear Study
Shell’s Nature-Based Solutions Business Makes First Acquisition
Extending, Improving 45Q Carbon Capture Tax Credit Gets Bipartisan Support
