Please join us as Dr. Susan Hamm, Director of the Geothermal Technologies Office for the U.S. Department of Energy, discusses the findings of the Department of Energy’s report: GeoVision: Harnessing the Heat Beneath Our Feet. In addition to addressing the state of geothermal energy in the U.S., the report highlights the opportunities for geothermal to have a sizable role in meeting the nation’s 21st-century energy demands. The report provides a pathway forward for the future of geothermal and what needs to be done to increase the presence of geothermal in the energy sector.
The Internal Revenue Service recently closed the comment period on implementing regulations for applying "Section 45Q" enhanced tax incentives for the geological storage of carbon dioxide and its use in enhanced oil recovery. Please join us as we review current research on Carbon Capture Utilization and Storage (CCUS) technology and the policy and project implications for using 45Q tax credits.
The program will consist of the following:
John Litynski, Deputy Director, Advanced Fossil Technology Systems - Update on DOE CCUS Research
Carbon Capture, Utilization, and Sequestration (CCUS) is considered by many to be a problem solver for carbon-based energy industries in an increasingly climate-constrained world. The cost of these technologies has deterred many companies and organizations from implementing CCUS systems. The technology coupled with the 45Q tax credit encourages the energy industry to reduce carbon emissions and remain economically competitive.
The Integrated Resource Plan released in August 2018 calls for a significant increase in renewable energy. To support the increase in intermittent resources, South Africa’s state-owned utility Eskom has unveiled its Distributed Battery Storage Program and environmental and social management framework study (ESMF), committing to solar-plus-storage and energy storage projects totaling 1,400MWh. The plan calls for storage in all nine provinces and has two phases of development and construction.
Regional economic impacts are a critical piece of the decision making process surrounding carbon capture, utilization, and sequestration (CCUS) implementation. Integration of carbon capture technologies with the existing coal fleet not only helps to ensure the longevity of an existing industry, jobs are created at the capture plant during the construction and operational periods. A significant number of jobs are created during the construction period, which results in additional job creation through indirect and induced effects.
The International Energy Agency has established that carbon capture and storage (CCS) is a critical component in reducing greenhouse gas (GHG) emissions. The cost to capture CO2 has often been cited as a major impediment to the deployment of CCS. However, costs vary considerably across different industrial sectors. Significant opportunities for CCS deployment can be found in lower-cost sectors. In addition, research and development efforts are underway to substantially drive down costs in all sectors.