Sec. 301. Carbon storage validation and testing
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Section 963 of the Energy Policy Act of 2005 ( 42 U.S.C. 16293 ) is amended— in subsection (a)(1)(B), by striking over a 10-year period ; in subsection (b)— in paragraph (1), by striking and demonstration and inserting demonstration, and commercialization ; and in paragraph (2)— in subparagraph (G), by striking and at the end; in subparagraph (H), by striking the period at the end and inserting ; and ; and by adding at the end the following: evaluating the quantity, location, and timing of geologic carbon storage deployment that may be needed, and developing strategies and resources to enable the deployment. ; by redesignating subsections
(e)through
(g)as subsections
(f)through (h), respectively; by inserting after subsection
(d)the following: The Secretary shall establish a commercialization program under which the Secretary shall provide funding for the development of new or expanded commercial large-scale carbon sequestration projects and associated carbon dioxide transport infrastructure, including funding for the feasibility, site characterization, permitting, and construction stages of project development. To be eligible to enter into an agreement with the Secretary for funding under paragraph (1), an entity shall submit to the Secretary an application at such time, in such manner, and containing such information as the Secretary determines to be appropriate. The Secretary shall establish an application process that, to the maximum extent practicable— is open to projects at any stage of development described in paragraph (1); and facilitates expeditious development of projects described in that paragraph. In selecting projects for funding under paragraph (1), the Secretary shall give priority to— projects with substantial carbon dioxide storage capacity; or projects that will store carbon dioxide from multiple carbon capture facilities. ; in subsection
(f)(as so redesignated), in paragraph (1), by inserting with respect to the research, development, demonstration program components described in subsections
(b)through
(d)before give preference ; and in subsection
(h)(as so redesignated)— in paragraph (5), by striking the period at the end and inserting ; and ; by redesignating paragraphs
(1)through
(5)as subparagraphs
(A)through (E), respectively, and indenting appropriately; by inserting before subparagraph
(A)(as so redesignated) the following: for activities under the research, development, demonstration program components described in subsections
(b)through (d)— ; and by adding at the end the following: for activities under the commercialization program component described in subsection (e), to remain available until expended, $500,000,000 for each of fiscal years 2022 through 2026. .
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Sec. 301
Carbon storage validation and testing
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