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What is the DOE CO2 capture cost target?

DOE has set the ambitious target of reducing the cost of carbon capture to less than $40 per metric ton of CO2 by 2025and under $30 per metric ton by 2035.

What is point-source CCS?

Point-source capture is when a large emission source, like an industrial facility, is equipped with technology allowing the capture and diversion to storage of CO2, preventing it from being emitted.

What is the Inflation Reduction Act on carbon capture?

The US government, in the framework of its Inflation reduction Act, implemented changes to 45Q providing up to USD 85 per tonne of CO2 permanently stored and USD 60 per tonne of CO2 used for enhanced oil recovery (EOR) or other industrial uses of CO2, provided emissions reductions can be clearly demonstrated.

What is point-source carbon capture?

Point Source Capture is the process of capturing CO2 emissions before they are released into the atmosphere.

What is the captured carbon utilization parity act?

The Carbon Capture and Utilization Parity Act of 2023 would increase the tax credit for carbon capture and utilization to match the incentives for carbon capture and sequestration for both direct air capture and the power and industrial sectors.

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