Sec. 401. Certification of cost-effective market penetration of clean electricity technologies
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Title VI of the Public Utility Regulatory Policies Act of 1978 ( 16 U.S.C. 2601 et seq. ) is amended by adding at the end the following: Not later than 2 years after the date of enactment of this section, the Secretary, after consultation with the Administrator of the Environmental Protection Agency, shall establish a program, to be known as the Federal Decarbonization and Innovation Assessment Program , to annually review and monitor progress towards— an 80 percent reduction in the amount of carbon dioxide emitted by electricity generators, relative to the amount of such emissions on the date of enactment of this section, by 2050; and cost-effective market penetration of eligible technologies, as determined by the Secretary under subsection (b).
The Secretary shall determine that eligible technologies have achieved cost-effective market penetration if— at least 3 gigawatts of new electricity generating capacity using any type of eligible technology has come into commercial operation since the date of enactment of this section, provided that— less than 50 percent of the capital costs of such new electricity generating capacity has been subsidized with Federal funds; and at least 1 gigawatt of such capacity is coal-fired electricity generating capacity that is equipped with carbon capture utilization and storage technology, from which at least 90 percent of the carbon dioxide output is captured and utilized or stored in a manner that prevents emission to the atmosphere; and at least one type of eligible technology— has similar operating characteristics as fossil-fueled electricity generation technology, such as dispatchability upon demand; and based on data provided by the Energy Information Administration, has a total cost of electricity generation that is not more than 10 percent higher than the average total cost of electricity generation from fossil-fueled electricity generators that were constructed not earlier than 5 years prior to the date of enactment of this section.
Upon making the determination described under subsection (b), but no earlier than the date that is 5 years after the date of enactment of this section, the Secretary shall certify that cost-effective market penetration of eligible technology has occurred. In this section: The term advanced dispatchable renewable energy system means an integrated system of energy storage technology deployed with wind or solar electricity generation technology for which the Secretary has determined that the availability of such integrated system to be dispatched to support ongoing electric grid reliability is similar to that of fossil-fueled electricity generation technology.
The term advanced nuclear power generation technology has the meaning given the term advanced nuclear reactor in section 951(b) of the Energy Policy Act of 2005 ( 42 U.S.C. 16271 ). The term eligible technology means any of the following: Advanced nuclear power generation technology. Advanced dispatchable renewable energy system. Fossil-fueled electricity generation technology equipped with carbon capture utilization and storage technology, from which at least 90 percent of the carbon dioxide output of the fossil-fueled electricity generation technology is— captured and utilized; or stored in a manner that prevents emission to the atmosphere. .
Section 1(b) of the Public Utility Regulatory Policies Act of 1978 is amended by adding after the item relating to section 608 the following: Sec. 609. Rural and remote communities electrification grants. Sec. 610. Federal decarbonization and innovation assessment program. .
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Sec. 401
Certification of cost-effective market penetration of clean electricity technologies
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