Biden admin pours $444M into carbon storage projects
The Biden administration announced $444 million Tuesday for 16 carbon storage projects across a dozen states.
The funding, which comes from the 2021 bipartisan infrastructure law, will mainly go toward projects that reduce emissions from industrial facilities and power plants by burying them underground, according to the Department of Energy.
Related Knowledge Center: Carbon capture
The federal government is investing heavily in the development of carbon capture and storage (or sequestration), which offers the enticing prospect of preventing carbon dioxide emissions produced during combustion from entering the atmosphere and contributing to climate change. But the technologies involved, while proven, remain expensive, an obstacle to widespread adoption.
Related Knowledge Center: Climate legislation
The federal government and states are in the process of implementing two laws — the Infrastructure Investment and Jobs Act and the Inflation Reduction Act — an investment of more than a trillion dollars to address climate change.