Sec. 111. 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 support the deployment and use of carbon capture, utilization, and storage at eligible power systems by entering into contracts for differences with owners or operators of eligible power systems to provide price certainty for the sale of the electricity generated by, or carbon dioxide captured by, such eligible power systems to third parties.
The Secretary may not enter into contracts for differences under subsection (a)— with a term of more than 30 years; for the output of eligible power systems with a cumulative electricity generating capacity of more than 11 gigawatts; and in a cumulative amount projected to have a value exceeding $10,000,000,000. The owner or operator of an eligible power system seeking to enter into a contract for differences 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 prioritize supporting— the use of carbon capture, utilization, and storage at eligible power systems covering diverse fossil fuel types and technologies, including first-of-a-kind technology for carbon capture, utilization, and storage capacity; and eligible power systems with at least 5.5 gigawatts of cumulative electricity generating capacity that will be in operation by 2030, and ensure that the remaining eligible power systems receiving support will be under construction by not later than 2030. In this section: The term power system means a commercial-scale 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 to the atmosphere; 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. 111
Deployment of carbon capture, utilization, and storage technology with commercial-scale electricity generation facilities
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