Sec. 121. Deployment of carbon capture, utilization, and storage technology with commercial-scale electricity generation facilities
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Subtitle B of title IV of the Energy Policy Act of 2005 ( 42 U.S.C. 15971 et seq.) is amended by adding after section 417 the following: Subject to the limitations in subsection (b), the Secretary shall provide support for deployment and use of carbon capture, utilization, and storage at commercial-scale electricity generation facilities by entering into a contract for differences, which may not exceed a term of more than 30 years, to provide price certainty for the sale of the electricity generated by, or carbon dioxide captured by, an eligible power system to a third party.
Except as provided in paragraph (2), the Secretary may not provide support described in subsection (a)— for eligible power systems with more than 3 gigawatt of cumulative electricity generating capacity; or in a cumulative amount projected to have a value exceeding $10,000,000,000. If the Secretary determines, based on the study undertaken pursuant to subsection (c), that additional support for the commercial-scale deployment of carbon capture, utilization, and storage at electricity generation facilities beyond that provided under paragraph
(1)is required to establish the market viability of carbon capture, utilization and storage consistent with the purposes of this title, the Secretary may provide support under subsection
(a)for additional eligible power systems with not more than 8 gigawatts of additional cumulative electricity generating capacity. The Secretary shall conduct a study to evaluate whether the support provided under subsection (a), combined with other Federal programs and policies and with commercial technology deployments, has established the market viability of using carbon capture, utilization, and storage at commercial-scale electricity generating facilities consistent with the purposes of this title. The study shall be initiated no later than the earlier of— the date the Secretary reaches the initial cap on support for eligible power systems in subsection (b)(1); or the date that is 7 years after the date of enactment of this section. An entity seeking support provided under subsection
(a)shall submit to the Secretary an application at such time and in such manner as the Secretary may require. In evaluating such an application, the Secretary shall consider technical, financial, and other factors that the Secretary determines appropriate. In implementing subsection (a), the Secretary shall seek to support the use of carbon capture, utilization, and storage with projects covering diverse fuel types and technologies, including first-of-its-kind technology for carbon capture, utilization, and storage capacity. In this section: The term power system means an electricity generating unit that utilizes fossil fuels to generate electricity that is provided to the electric grid or directly to a consumer. The term eligible power system means a power system that— is equipped with carbon capture technology, or otherwise produces a separate carbon dioxide stream that is suitable for utilization or storage; is designed to capture carbon dioxide that would otherwise be emitted by the power system; and will utilize or store the captured carbon dioxide, or has contracted with one or more other entities to utilize or store the captured carbon dioxide. . The table of contents for the Energy Policy Act of 2005 is amended by adding after the item relating to section 417 the following: Sec. 418. Federal support for deployment of carbon capture, utilization, and storage with electricity generation. .
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Sec. 121
Deployment of carbon capture, utilization, and storage technology with commercial-scale electricity generation facilities
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