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Carbon Capture Backers Score Wins in Senate-Passed Climate Bill

Aug. 8, 2022, 8:52 PM

Backers of US carbon capture and storage projects scored big wins in the climate and tax bill passed by the Senate, particularly a 10-year extension for projects to break ground and still earn tax credits.

Carbon capture facilities would be eligible for the incentives as long as they break ground before January 2033 under the bill, now headed for House debate on Aug. 12. The Inflation Reduction Act also would extend carbon capture incentives to a broad array of projects and increase the value of the credit for each ton of carbon dioxide capture and stored.

The changes would add ...