Increase and focus carbon capture research & development
Carbon capture is a critical technology that can reduce emissions from power plants, industrial facilities (e.g. cement and steel), and even straight from the atmosphere. A recent string of commercial projects, including NRG’s Petra Nova and Air Product’s Port Arthur, have validated carbon capture from novel sources. Further development will drive new concepts and technologies, such as the zero-emission NET Power demonstration plant.

Source: National Carbon Capture Center
Background
Countries around the world are working to commercialize carbon capture technologies. The United States Department of Energy is a widely recognized leader, scaling carbon capture technologies across the George W. Bush and Obama administrations. The most prominent test facility in the United States is a public private partnership between the DOE and companies including Southern Company and ExxonMobil.3
Large scale carbon capture facilities in operation and planned (through 2024)
Source: GCCSI4
Historically, basic government research has reaped dividends for our economy. In the case of natural gas, taxpayers are still benefiting from government R&D into hydraulic fracturing technologies to the tune of billions of dollars each year. National laboratories research developed the basic mining bits, 3D imaging and liquids that were instrumental in the commercialization of fracking technologies.
Carbon capture holds similar promise. A study by ClearPath and the Carbon Utilization Research Council found that dozens of large power plants with carbon capture could be economically deployed by 2040, assuming Department of Energy cost goals were met.
Many carbon capture technologies in the development pipeline have been successful at the small bench scale and have yet to scale up. Demonstrating at larger scales is difficult for the private sector to overcome because it often requires tens or even hundreds of millions of dollars. Private-public cost shares are needed to expeditiously prove first-of-a-kind technologies to facilitate commercial guarantees and increase investment community confidence.