TY - GEN
T1 - Creating Markets for Captured Carbon
T2 - 15th Greenhouse Gas Control Technologies Conference, GHGT 2021
AU - Obrien, Kevin C.
AU - Whittaker, Steve
AU - Greenberg, Sallie
AU - Lu, Yongqi
AU - Schideman, Lance
AU - Patel, Vinod
AU - Rajagopalan, Kishore
AU - Sharma, B. K.
AU - Brownstein, Stephanie
AU - Gioja, Les
AU - Dietsch, Jason
N1 - The authors wish to acknowledge the financial support from National Energy Technology Laboratory (NETL) of the US Department of Energy (Contract Numbers: DE-FE0031841, DE-FE0031581, DE-FE0031592, DE-FE0030822, DE-FE00029381, DE-FE0031626, DE-FE0029445, DE-FE0031551).
As pointed out in previous publications, it is vital to be able to construct large CCUS projects in order to make the economic cluster financially attractive. This requires the ability to bring together multiple stakeholders, build coalitions that include a variety of industries, and then provide project management and technical guidance to assure the large projects are completed on time and within budget. Because these projects are funded by DOE/NETL, it is important to have the experience and infrastructure to manage the technical and financial reporting required by DOE/NETL sponsored projects. PRI/UIUC has a history of forming teams and managing large projects on the capture and storage side. PRI/UIUC’s reputation as a “neutral third party” that focuses on benefitting Illinois and its constituents plays a critical role in making these projects successful.
PY - 2021
Y1 - 2021
N2 - In previous publications/presentations at GHGT-13, a plan was outlined for the capture and storage/utilization of CO2 within the state of Illinois. This plan has evolved significantly due to a number of technical, regulatory, and financial factors that have occurred at both the state and federal level. A combination of successful implementation of large-scale storage projects, significant investment in research and development by the US DOE, and the advent of 45Q tax credits has created a significant driver for growth in Illinois for carbon capture, utilization, and storage (CCUS) projects. This ability to either store or utilize the CO2 creates diverse financial opportunities for CO2 sources within the state, hence an ability to build new markets and drivers for large CO2 emitters within the state. A major cornerstone of this effort is to have a range of capture sites in the state that can accommodate the evaluation of capture technologies that are at various levels of maturity (i.e., technology readiness levels or TRLs). The net impact is an ability to assist Illinois in achieving its goals for grid decarbonization and clean energy job creation.
AB - In previous publications/presentations at GHGT-13, a plan was outlined for the capture and storage/utilization of CO2 within the state of Illinois. This plan has evolved significantly due to a number of technical, regulatory, and financial factors that have occurred at both the state and federal level. A combination of successful implementation of large-scale storage projects, significant investment in research and development by the US DOE, and the advent of 45Q tax credits has created a significant driver for growth in Illinois for carbon capture, utilization, and storage (CCUS) projects. This ability to either store or utilize the CO2 creates diverse financial opportunities for CO2 sources within the state, hence an ability to build new markets and drivers for large CO2 emitters within the state. A major cornerstone of this effort is to have a range of capture sites in the state that can accommodate the evaluation of capture technologies that are at various levels of maturity (i.e., technology readiness levels or TRLs). The net impact is an ability to assist Illinois in achieving its goals for grid decarbonization and clean energy job creation.
KW - CO Utilization
KW - Capture
KW - Carbon Markets
KW - Innovative Integration
KW - Large Pilot
KW - Storage
UR - https://www.scopus.com/pages/publications/85181401418
UR - https://www.scopus.com/pages/publications/85181401418#tab=citedBy
U2 - 10.2139/ssrn.3815263
DO - 10.2139/ssrn.3815263
M3 - Conference contribution
BT - Proceedings of the 15th Greenhouse Gas Control Technologies Conference 15-18 March 2021
Y2 - 15 March 2021 through 18 March 2021
ER -